(Adds comments)By Arwa GaballaCAIRO, Feb 15 (Reuters) - The Egyptian central bank cut its main interest rates by a percentage point each on Thursday, the first time it has lowered them since letting the currency float freely in 2016, as inflation sinks to its lowest levels in at least a year.The bank cut its overnight deposit rate to 17.75 percent from 18.75 percent and its overnight lending rate...Read More
(Recasts with comments on cautious policy)By Rod NickelWINNIPEG, Manitoba, Feb 15 (Reuters) - The Bank of Canada's cautious approach to further rate hikes does not mean rates will stay low forever, as policymakers also have to weigh inflationary pressures, Bank of Canada Deputy Governor Lawrence Schembri said on Thursday.Striking a balanced tone in response to audience questions about interest ra...Read More
By Anna IrreraNEW YORK, Feb 15 (Reuters) - The U.S. derivatives regulator warned investors on Thursday about cryptocurrency "pump-and-dump" scams that aim to rip off investors by inflating the price of volatile virtual tokens through spreading bogus information.The Commodities Futures Trading Commission said in a statement that it had received complaints from investors who had lost money...Read More
FRANKFURT, Feb 15 (Reuters) - UK banks wanting to secure a foothold in Germany after Brexit should submit their applications for a banking license by June, Bundesbank director Andreas Dombret said on Thursday.With Britain due to leave the EU in March 2019, banks are set to lose their automatic access to the single market unless a transition period is agreed, which is currently uncertain.Dombret sa...Read More
(Adds 30-year TIPS auction, graphic, analyst comment, updates prices, table)By Gertrude Chavez-DreyfussNEW YORK, Feb 15 (Reuters) - U.S. Treasury yields slipped on Thursday after sizable gains in recent sessions, as investors took a breather from selling bonds and readjusted positions to prepare for more inflation-related volatility, a scenario that could take yields even higher.U.S. benchmark 10-...Read More
Originally on GoldinAmerica.com Gold Comment by George GeroGold traders , investors,understood the INFLATION word and reacted yesterday triggering buy stops.Comments:Recently gold ignored traditional headwinds of higher rates and strong stocks.All this means is we could see higher prices later on after option expiration and back to basics market forces.Open Interest and Option ExpirationOpen In...Read More
S&P 500 index gained 1.3% on Wednesday, following lower opening of the trading session. The market has extended its rally from Friday's low. But will it continue higher today? We can see some short-term overbought conditions. Was this two-week-long sell-off the beginning of a new medium-term downtrend or just downward correction before another leg up? It's hard to say, but this move down set t...Read More
Even amid a broader stock market correction, shares of Skechers USA Inc (NYSE:SKX) topped out at a two-year high of $42.73 on Feb. 9, after the footwear retailer's fourth-quarter earnings and revenue beats were met with a round of price-target hikes. While SKX stock consolidated gains this week, it has pulled back to a trendline that has had bullish implications in the past. With plenty of skeptic...Read More
Gold futures on Thursday ended slightly lower, retreating from the highest finish in nearly three weeks, taking cues from a rally in stocks that hinted that investors were wading deeper into assets perceived as risky after a period of turbulence in equities. April goldGCJ8, +0.01% fell $2.70, or 0.2%, to $1,355.30 an ounce after a settlement at $1,358 Wednesday. The gold-backed exchange-traded fun...Read More
Gold futures on Thursday ended slightly lower, retreating from the highest finish in nearly three weeks, taking cues from a rally in stocks that hinted that investors were wading deeper into assets perceived as risky after a period of turbulence in equities. April goldGCJ8, -0.44% fell $2.70, or 0.2%, to $1,355.30 an ounce after a settlement at $1,358 Wednesday. The gold-backed exchange-traded fun...Read More
In light of the holiday-shortened week, things will be relatively slow on the economic front, but Wednesday will feature the release of the Federal Open Market Committee's (FOMC) latest meeting minutes, which traders will parse for rate-hike clues. Earnings reports will continue to trickle in, with blue chips Walmart (WMT) and Home Depot (HD) set to report. Other notable names stepping up to the p...Read More
(Adds availability of graphics)NEW YORK, Feb 15 (Reuters) - U.S. 30-year mortgage rates climbed to their highest in almost four years in line with U.S. bond yields on worries about rising inflation amid an improving global economy, Freddie Mac said on Thursday.The housing market seems resilient in the face of rising home borrowing costs. Housing demand remains sturdy with rising income, while hom...Read More
• Rising US bond yields capping additional gains. • Weaker USD continues to lend support. • Remains poised to extend the bullish momentum. Gold stalled its mid-European retracement near $1350 level and has now moved back within striking distance of 3-week tops touched earlier. Persistent US Dollar selling bias continues to under...Read More
BUENOS AIRES, Feb 15 (Reuters) - Consumer prices in Argentina rose 1.8 percent in January, bringing the 12-month inflation rate to 25 percent, government data showed on Thursday.The central bank is targeting inflation of 15 percent this year. In greater Buenos Aires, which had been used as a proxy for the country's inflation before the Indec statistics agency launched a nationwide index last year,...Read More
By Joshua FranklinNEW YORK, Feb 15 (Reuters) - Ares Management LP said on Thursday it would convert its structure from a publicly listed partnership into a corporation, the first private equity firm to decide such a move following the enactment of U.S. tax reform.The switch will expand the potential shareholder base of Ares, because it will allow index funds that were previously restricted from ow...Read More
The shares of Teck Resources Ltd (NYSE:TECK) rallied on Wednesday, after the company reported earnings and said it expects strong demand for steelmaking coal this year. While TECK stock was last seen modestly lower today, the security recently sent up a pair of historical "buy" signals -- and now could be an opportune time to purchase call options on the commodity stock.The shares were last seen t...Read More
Mr. Antonio Berlanga reportsTELSON DISCLOSES TAHUEHUETO MINING & CONCENTRATE PREPRODUCTION, METALLURGICAL BALANCES & CASH SALE RESULTS FOR 2017 AND ANNOUNCES PLANS FOR CORPORATE NAME CHANGETelson Resources Inc. has released the results of preproduction mining and processing at its 100-per-cent-owned Tahuehueto mine development project located in Durango, Mexico.Preproduction mining averagi...Read More
Mr. Nav Dhaliwal reportsBONTERRA ANNOUNCES $21.5 MILLION PRIVATE PLACEMENTBonterra Resources Inc. has entered into an agreement with Sprott Capital Partners to act as lead agent, on its own behalf and, if applicable, on behalf of a syndicate of agents,in connection with a marketed private placement to raise gross proceeds of $21,495,000.The offering will consist of a combination of: (a) 13.3 milli...Read More
* Cisco shares up after upbeat results and forecast* Apple gains after Berkshire Hathaway boosts stake* Oil prices fall, dragging energy stocks* Indexes up: Dow 0.4 pct, S&P 0.5 pct, Nasdaq 0.88 pct (Updates to early afternoon)By Sruthi Shankar and Aparajita SaxenaFeb 15 (Reuters) - U.S. stocks were on course for their fifth straight day of gains on Thursday, led by technology and industrial s...Read More
Subscribers to Schaeffer's Option Advisor service recently doubled their money on Kraft Heinz Co (NASDAQ:KHC) April 82.50 puts. We're going to dissect the options trade below, looking back at what originally attracted us to KHC and how the stock performed after we recommended the puts. We recommended the put option in late December. KHC shares at that time had bounced off their late-October annua...Read More