The U.S. stock market is soaring today -- paring a portion of last week's losses after President Donald Trump unveiled a massive infrastructure plan. The financial sector is seeing some of the biggest gains, as evidenced by the price action in the SPDR S&P Regional Banking ETF (KRE) and the Financial Select Sector SPDR ETF (XLF). Options traders are blasting the exchange-traded funds (ETFs), too,...Read More
NEW YORK, Feb 12 (Reuters) - The U.S. Treasury Department would sell about $290 billion in net ultra short-term debt in the next four weeks in the aftermath a budget agreement last week to suspended the federal debt limit into March 2019, JPMorgan analysts said on Monday.This increase in bill issuance would bring the government's cash balance toward $340 billion by the end of April after the Treas...Read More
(Kitco News) - Goldand silver prices were ending the U.S. day session with solid gains Monday. Theprecious metals were supported by a weaker U.S. dollar index and a rebound incrude oil prices. Some short covering in the futures market and bargain huntingin the cash market were featured in both metals, following last week’s sellingpressure. Impressively, the metals were able to post good pric...Read More
CAIRO, Feb 12 (Reuters) - Average yields on Egypt's five- and 10-year treasury bonds fell at an auction on Monday, central bank data showed.The average yield on the five-year bond fell to 14.438 percent from 14.716 percent at the last similar auction. The average yield on the 10-year bond fell to 13.871 percent from 14.416 percent. (Reporting by Arwa Gaballa, editing by Larry King) Disclaimer: Th...Read More
* Materials, Industrials gain on Trump's second budget* 10-yr Treasury yields, VIX hold steady* Energy stocks gain as crude prices rise nearly 2 pct* Indexes up: Dow 1.65 pct, S&P 1.37 pct, Nasdaq 1.43 pct* Dow, S&P still roughly 6 pct lower than Feb. 1 close (Updates to early afternoon)By Sruthi ShankarFeb 12 (Reuters) - Technology and financial shares led Wall Street's main indexes highe...Read More
Feb 13 (Reuters) - Stock MarketsNet ChngStock MarketsNet ChngS&P/ASX 200** 5,820.70 -17.30NZX 50**8,059.06 -33.310DJIA24,603.87412.97NIKKEI**21,382.62-508.24Nasdaq6,967.79 93.30 FTSE**7,177.06 84.63S&P 500 2,655.89 36.34 Hang Seng** 29,459.63-47.79SPI 200 Fut 5,765.00 24.00 STI** 3,384.98 7.74SSEC**3,153.56 23.71 KOSPI** 2,385.38 21.61-------------------------------------------------------...Read More
After last week's bloodbath, some traders may forget that the U.S. stock market enjoyed its best start to a year since 2003. In fact, the S&P 500 Index (SPX) was up more than 10% in 2018 at its peak -- making the recent stock correction all the more rare. Here's how stocks tend to perform after a quick-and-dirty swing to start the year, and how short-term options traders can capitalize.Signal Soun...Read More
ABUJA, Feb 12 (Reuters) - Nigeria's central bank said on Monday it had injected $210 million into the interbank foreign exchange market, part of aneffort to improve liquidity and alleviate the dollar shortages of the past few years.The bank said in a statement it had released $100 million earmarked for the wholesale market, $55 million for small businesses and individuals, and $55 million for cert...Read More
(Kitco News)- The gold market does not have to fear rising bond yields,as inflation expectations are keeping real interest rates muted, according toone investment firm.In a report, Monday, Maxwell Gold, director of investmentstrategy at ETF Securities said that gold prices still have room to push highereven as the yield on 10-year notes rises to 3%. The comments come as 10-yearbond yields have inc...Read More
* LME/ShFE arb: (Updates with closing prices)By Peter HobsonLONDON, Feb 12 (Reuters) - Copper prices rose on Monday from a two-month low last week, helped by a weaker dollar and more stable global markets that encouraged a return to riskier assets. A weaker dollar makes metals cheaper for users of other currencies and can spur demand."A dip in the dollar has lifted the whole base metals secto...Read More
LIMA, Feb 12 (Reuters) - Peru's economy is at "grave risk," of a systemic crisis within its construction sector, as companies under investigation for corruption could be forced to halt projects, Finance Minister Claudia Cooper said on Monday.Cooper told the country's Congress that investments tied to several of the companies allegedly involved in corruption are equivalent to 4.2 percent...Read More
PepsiCo, Inc. (NASDAQ:PEP) is slated to report fourth-quarter earnings before the open this Tuesday, Feb. 13. The stock has a history of muted earnings reactions, according to Trade-Alert; over the past eight quarters, PEP has averaged a one-day post-earnings move of just 0.5%, regardless of direction. This time around, however, the options market is pricing in a bigger-than-expected post-earning...Read More
As an alternative to investing in a junior gold mining ETF I've put together an index of elite investor picks.In general elite investors decreased their exposure to junior gold miners.A possible reason could be pending higher interest rates.5 out of 17 ideas are obviously attractive based on book value and current profitability.Because of The Van Eck Vectors Junior Gold Miners ETF (GDXJ) ETF b...Read More
By Andr?(C)s Gonz??lezMADRID, Feb 12 (Reuters) - Private equity firm Cerberus has hired advisers for an initial public offering of Haya in May, in a transaction which could value the real estate firm at up 1.1 billion euros ($1.35 billion), sources familiar with the matter said.The planned flotation follows other Spanish real estate IPOs, such as last week's listing of residential developer Metrov...Read More
Stocks are enjoying a much-needed lift after their worst week in years, with the Dow Jones Industrial Average (DJI) starting the week up triple digits, thanks to a rally in tech and financial stocks. Cisco Systems (CSCO) and Apple (AAPL) are leading the Dow, with the former slated to report a earnings later this week. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also exhibiting heal...Read More
* Indexes up: Dow 1.19 pct, S&P 0.99 pct, Nasdaq 1.26 pct* 10-yr Treasury yields at session lows, VIX in narrow range* CSRA jumps after buyout offer from General Dynamics* Cisco, AmEx move higher on Instinet upgrades* Energy stocks gain as crude prices rise nearly 2 pct (Changes comment, adds details, updates prices)By Sruthi ShankarFeb 12 (Reuters) - Wall Street's main indexes rose for a seco...Read More
STOCKHOLM, Feb 12 (Reuters) - Swedish fashion retailer H&M dropped plans to ask shareholders to reinvest their dividend payouts in newly issued shares on Monday, saying the move had proved problematic to carry out.Under the original plan, the retailer was set to make the request to its annual general meeting in May in order to help finance investments in analytics and technology and rekindle g...Read More
LONDON, Feb 12 (Reuters) - The Bank of England's expectation that it will raise interest rates again could be knocked off course by the approach of Brexit and its impact on confidence in Britain, BoE interest-rate setter Ian McCafferty said on Monday."Our decisions are going to be based ... on how the economy evolves. We have a good deal of uncertainty at the moment. So far the economy is hol...Read More
(Adds trade body, lawyer comments)By Huw JonesLONDON, Feb 12 (Reuters) - Some firms using computers to trade at ultra-fast speeds are not applying safeguards required to avert market meltdowns, Britain's Financial Conduct Authority (FCA) said on Monday.Algorithmic or high-frequency trading uses computers to automatically place an order in financial markets, without human intervention, and represe...Read More
By Gertrude Chavez-DreyfussNEW YORK, Feb 12 (Reuters) - U.S. Treasury yields rose across most maturities on Monday, with benchmark 10-year yields hitting a four-year high, benefiting from strong U.S. economic growth prospects and global central banks normalizing years of easy monetary policy.U.S. 10-year yields, which move inversely to prices, have risen in three of the last five sessions. Since a...Read More