Are they? As usual, the FOMC minutes provoked diverse interpretations, both dovish and hawkish. Let’s analyze them, separating the wheat from the chaff. What do the recent minutes really mean for the gold market? Hawks Attack Bullion We have long warned investors about the hawkish treat. For example, as early as in the October edition of the Market Overview, we wrote that the Fed under Powel...Read More
(New throughout, adds chairman's comments on M&A, growth from investor presentation)By Susan TaylorTORONTO, Feb 22 (Reuters) - Barrick Gold on Thursday predicted lower gold production over the next decade, risking its rank as the world's biggest bullion producer, but executives insisted they will not make acquisitions simply to sate a call for growth.The Toronto-based company, whose output co...Read More
(Adds details, updates to close)TORONTO, Feb 22 (Reuters) - Canada's main stock index closed marginally lower on Thursday as resource-related gains on a rise in commodity prices were offset by declines in consumer stocks after weak retail sales data, and investors digested a raft of corporate earnings reports.* The Toronto Stock Exchange's S&P/TSX composite index was down 15.84 points, or 0.1...Read More
NEW YORK, Feb 22 (Reuters) - U.S. fund investors inched back into the markets during the most recent week, putting $2.5 billion into bonds and $1.1 billion in stocks, Lipper data showed on Thursday.Domestic equity funds recorded a third week of withdrawals, with $4.6 billion flowing out in the seven days through Feb. 21. (Reporting by Trevor Hunnicutt; Editing by Chris Reese) Disclaimer: The view...Read More
By Michelle NicholsUNITED NATIONS, Feb 22 (Reuters) - North Korea on Thursday accused United Nations Secretary-General Ant??nio Guterres of "picking a quarrel" with Pyongyang by praising international sanctions for putting pressure on the country over its nuclear and ballistic missile programs.North Korea's U.N. mission said in a statement that Guterres had made "reckless remarks&qu...Read More
Ann SaphirVANCOUVER (Reuters) - Dallas Federal Reserve Bank President Robert Kaplan said on Thursday that three U.S. interest-rate increases in 2018 is a “reasonable” base case, pushing back against the notion, floated by some on Wall Street, that more rate hikes may be needed.With the Fed likely to overshoot on its goal of full employment, and with progress toward the Fed’s 2-pe...Read More
A dip in the 10-year Treasury yield helped bring stock buyers back to the market today, with the Dow spending most of the day deep in triple-digit-gain territory. In addition, breakup chatter from United Technologies (UTX) helped lift the blue-chip index. Traders continued to consider yesterday's Fed meeting minutes, as well as fresh rate-hike commentary from Fed President James Bullard. Elsewhere...Read More
Feb 23 (Reuters) - Australian shares are expected to gain at Friday's open, following a positive lead from Wall Street and higher oil prices.U.S. stocks advanced on Thursday, buoyed by gains in industrial and energy shares. Meanwhile, oil prices rose to two-week highs on Thursday, boosted by data showing a surprise draw-down in U.S. crude inventories and also by a drop in the dollar.Brent crude ga...Read More
Feb 22 (Reuters) - First Solar Inc reported a smaller quarterly loss on Thursday compared with a year ago when the largest U.S. solar panel maker took a one-time charge of $729 million.The company's net loss narrowed to $432.45 million, or $4.14 per share, in the fourth quarter ended Dec.31, from $750.79 million, or $7.22 per share, a year earlier. Net sales rose 2.5 percent to $339.18 million. (R...Read More
TORONTO, Feb 22 (Reuters) - Canada's main stock index closed little changed on Thursday as strength in miners and energy companies offset losses in healthcare and consumer shares. The Toronto Stock Exchange's S&P/TSX composite index ended the day 15.84 points, or 0.1 percent, lower at 15,508.17. (Reporting by Nichola Saminather; Editing by Peter Cooney) Disclaimer: The views expressed in this...Read More
Feb 23 (Reuters) - Stock MarketsNet ChngStock MarketsNet ChngS&P/ASX 200** 5,950.97.2 NZX 50**8,266.88 66.61DJIA**24,961.03163.25NIKKEI**21,736.44-234.37Nasdaq**7,210.086-8.142FTSE**7,252.39 -29.18S&P 500** 2,703.99 2.66Hang Seng** 30,965.68-466.21SPI 200 Fut 5,95036.00 STI** 3,488.46 -27.77SSEC**3,268.7305 69.57 KOSPI** 2,414.28 -15.37------------------------------------------------------...Read More
NEW YORK, Feb 22 (Reuters) - The Dow and S&P 500 advanced on Thursday to halt a two-session losing skid, buoyed by gains in industrial and energy shares as U.S. Treasury yields eased, while the Nasdaq lost ground for a third straight session.The Dow Jones Industrial Average rose 164.7 points, or 0.66 percent, to 24,962.48, the S&P 500 gained 2.63 points, or 0.10 percent, to 2,703.96, and t...Read More
(Recasts first paragraph; adds background, byline, graphic)By Richard LeongNEW YORK, Feb 22 (Reuters) - The U.S. bond market held up against a $258 billion deluge of Treasury debt supply, the second largest weekly amount ever, as the government sought to raise more cash to fund an expected jump in its budget deficit.The hole in the federal budget is projected to grow due to last year's major tax...Read More
* Dollar Index retreats after hitting 10-day high* Yen rises on safe haven demand (Updates prices, market activity; adds comments, graphic)By Saqib Iqbal AhmedNEW YORK, Feb 22 (Reuters) - The dollar fell against a basket of major currencies on Thursday, as its rally from a three-year low last week ran out of steam, and the yen soared against the greenback as heightened volatility led investors to...Read More
Oil concern Cabot Oil & Gas Corporation (NYSE:COG) is set to report fourth-quarter earnings before the market opens tomorrow. The stock came into the year trading near its Nov. 30 two-year high of $29.57, but has since shed 15.9%, and dropped below the long-term support of its 200-day moving average. Today, COG is 3.5% higherat $24.04 -- amid a positive earnings reaction for Chesapeake Energy (CH...Read More
RABAT, Feb 22 (Reuters) - - Morocco's annual inflation rate was 1.8 percent in January, the High Planning Commission said on Thursday.It did not give a comparable figure for the previous month in a statement.Annual food price inflation was 2.2 percent in January, while non-food inflation was 1.3 percent over the 12 months, the data showed. (Reporting by Zakia Abdennebi and Ulf Laessing; Editing by...Read More
(Kitco News)- Don't expect uncertainty in the gold market to go away anytime soon as analysts see potential for upswings and downswings while prices continue to hover in the middle of a short-term trading channel.In a note to clients, Ole Hansen, head of commodity strategy at Saxo Bank, said that risks are growing in the gold market and prices could see a prolonged correction, falling to key suppo...Read More
A composite measure of leading economic indicators was expected to rise in January. The index measures 10 key metrics, such as stock prices, unemployment insurance claims and building permits. It would be the 12th time the measure increased in the last 13 months. Kevin Breuninger| @KevinWilliamB Published 10 Hours AgoUpdated9 Hours AgoCNBC.com Kamil Krzaczynski | ReutersA shopper makes a purc...Read More
Shares of Gap Inc (NYSE:GPS) pulled back after hitting a two-year high of $35.66 on Jan. 23, but found a floor near $31 -- home to its rising 80-day moving average. If history is any guide, it could be time to join GPS on its next leg higher, as data shows a retreat to this trendline has had bullish implications for the stock.According to Schaeffer's Senior Quantitative Analyst Rocky White, there...Read More
(Notes mass power outage in line about satellite images)By Jonathan SpicerNEW YORK, Feb 22 (Reuters) - Puerto Rico should "start from scratch" rebuilding its already outdated power infrastructure after deadly Hurricane Maria last year devastated it and left citizens marooned, the U.S. central banker overseeing the island territory said on Thursday.New York Fed President William Dudley d...Read More