(Adds comment from State Street)By Nate RaymondBOSTON, Feb 7 (Reuters) - U.S. prosecutors on Wednesday brought a new charge against a former State Street Corp executive accused of participating in a scheme to defraud clients by charging them secret commissions on billions of dollars of trades.Ross McLellan, a former executive vice president at the bank, was previously charged in an indictment fil...Read More
It's another volatile session on Wall Street today, with the Dow last seen sporting a triple-digit lead. Among individual stocks moving higher today are Oprah favorite Weight Watchers International, Inc. (NYSE:WTW) and media stock tronc Inc (NASDAQ:TRNC), though burrito chain Chipotle Mexican Grill, Inc. (NYSE:CMG) is struggling once again. Here's a closer look at what's moving shares of WTW,...Read More
BRASILIA, Feb 7 (Reuters) - Brazil's central bank cut interest rates to an all-time low on Wednesday, with a smaller reduction than in previous meetings, hinting at the end of the deepest easing cycle in a decade.The bank's nine-member monetary policy committee, known as Copom, cut the benchmark Selic rate by 25 basis points to 6.75 percent, capping a 750 basis-point decline since October 2016. Th...Read More
BUENOS AIRES, Feb 7 (Reuters) - Argentina sold $4.6 billion in bonds and Treasury notes, the Finance Ministry said on Wednesday, as the government seeks to raise $30 billion in 2018 to finance a primary fiscal deficit seen at 3.2 percent of gross domestic product. The government sold 70.481 billion pesos ($3.58 billion) in one-year peso-denominated bonds, for which it received 74.189 billion pesos...Read More
(Repeats to cover second alert chain)WELLINGTON, Feb 8 (Reuters) - The Reserve Bank of New Zealand kept interest rates on hold on Thursday, as expected, and said economic growth was expected to strengthen due to accommodative policy, a high terms of trade, government spending and population growth.The central bank kept interest rates unchanged at a record low of 1.75 percent, and said that longer...Read More
* Volatility gauge VIX falls, but above recent levels* Tech, energy weigh, industrials gain* Wynn Resorts climbs after Steve Wynn quits as CEO* Dow up 0.23 pct, S&P down 0.13 pct, Nasdaq down 0.64 pct (Updates to late afternoon)By Lewis KrauskopfFeb 7 (Reuters) - U.S. stocks slipped in choppy trading on Wednesday as technology and energy stocks fell, while investors adjusted to a market with g...Read More
WELLINGTON, Feb 8 (Reuters) - The Reserve Bank of New Zealand kept interest rates on hold on Thursday, as expected, and said economic growth was expected to strengthen due to accommodative policy, a high terms of trade, government spending and population growth.The central bank kept interest rates unchanged at a record low of 1.75 percent, and said that longer-term inflation expectations were well...Read More
By Jacob Gronholt-PedersenCOPENHAGEN, Feb 7 (Reuters) - Australia's Macquarie and three Danish pension funds ATP, PFA and PKA have offered to buy Danish telecoms operator TDC for 47 Danish crowns per share, business daily Borsen said on Wednesday, citing several unnamed sources.The consortium sent a letter on Jan. 26 to TDC chairman Pierre Danon offering to buy all of the shares in TDC, the newspa...Read More
(Adds T-bill reaction to debt ceiling deal, updates prices)* Soft demand for $24 bln 10-year note auction* U.S. budget deal boosts growth expectations* Treasury to sell $16 bln 30-yr bonds on Thursday By Karen BrettellNEW YORK, Feb 7 (Reuters) - U.S. Treasury prices dropped on Wednesday after the Treasury Department sold new 10-year notes to soft demand and the U.S. Senate reached a budget deal,...Read More
Source: Bob Moriarty for Streetwise Reports 02/07/2018Bob Moriarty of 321 Gold looks at this gold explorer's drill results for its Nova Scotia project.Did I mention why I love saddle reef deposits and why Anaconda Mining Inc. (ANX:TSX) is my number two favorite gold stock right now? If I forgot, you should go to the press release they put out on Feb 07, 2018. Those are home run holes. The 34.7...Read More
(Adds details)MILAN, Feb 7 (Reuters) - Italy's third-largest bank Banco BPM has stepped up its target for shedding bad debts in an effort to lower them to around 11.5 percent of its total loans by the end of 2020.Banco BPM, which was formed last year by the merger of Banco Popolare with Banca Popolare di Milano, held soured loans equivalent to 21.1 percent of total lending, before writedowns, at...Read More
Shares of Riot Blockchain Inc (NASDAQ:RIOT) are trading up 10.87% at $14.34 -- near the top of the Nasdaq -- after the company issued a letter of intent to purchase digital currency specialist Logical Brokerage. RIOT stock is pacing for its second straight double-digit percentage gain, and bullish options traders are striking while the iron's hot.At last check, 13,728 RIOT calls were on the tape,...Read More
By David RandallNEW YORK, Feb 7 (Reuters) - U.S. fund investors' appetite for stocks and fixed income weakened sharply last week ahead of the largest decline in the benchmark S&P 500 in more than six years, Investment Company Institute (ICI) data showed on Wednesday.Some $4.3 billion rolled into U.S.-based stock funds and exchange-traded funds in the week ended Jan. 31, a 65 percent drop from...Read More
(Corrects filing date to Wednesday, not Thursday, in 3rd paragraph.)By Nate RaymondBOSTON, Feb 7 (Reuters) - U.S. prosecutors on Wednesday brought a new charge against a former State Street Corp executive accused of participating in a scheme to defraud clients by charging them secret commissions on billions of dollars of trades.Ross McLellan, a former executive vice president at the bank, was pre...Read More
Gold prices ended at a one-month low Wednesday, down a fourth-straight session, as the dollar index and Treasury yields gained, dulling investment demand for the precious metal. April gold GCJ8, +0.19% dropped $14.90, or 1.1%, to settle at $1,314.60 an ounce. That was the lowest finish for a most-active contract since Jan. 9 and largest single-session dollar and percentage loss since Nov. 20, acco...Read More
Feb 8 (Reuters) - Stock MarketsNet ChngStock MarketsNet ChngS&P/ASX 200** 5,876.80 43.50 NZX 50**8,194.73 -47.100DJIA25,088.84176.07NIKKEI**21,645.3735.13Nasdaq7,109.062-6.82 FTSE**7,279.42 138.02S&P 500 2,705.08 9.94Hang Seng** 30,323.2 -272.22SPI 200 Fut 5,819.00 29.00 STI** 3,383.77 -22.61SSEC**3,309.58 -61.07KOSPI** 2,396.56 -56.75-------------------------------------------------------...Read More
* Spot gold may test support at $1,316/oz - technicals* Platinum hit price premium over palladium* Platinum/Palladium ratio: (Recasts throughout; updates prices, headline; adds comment, NEW YORK to dateline)By Renita D. Young and Maytaal AngelNEW YORK/LONDON, Feb 7 (Reuters) - Gold slipped on Wednesday as the U.S. dollar strengthened and global shares clawed their way off two-month lows, though bu...Read More
(Kitco News)- Gold and silver prices ended the U.S. day session solidly lower Wednesday, with goldhitting a four-week bottom and silver a six-week low. Fully bearish “outsidemarkets” were behind the selling pressure in the precious metals today, as theU.S. dollar index rallied sharply and crude oil prices were solidly lower andhit a five-week low. April Comex gold futures were last dow...Read More
Biotech stock Regeneron Pharmaceuticals Inc (NASDAQ:REGN) has been trending lower since mid-2017, shedding almost 30% in the past six months to trade at $335.60, after just yesterday hitting a three-year low of $319.50. But with the company preparing to report earnings before the open tomorrow, Feb. 8, it should be pointed out at that this technical weakness has come despite a fairly strong post-e...Read More
(Kitco News)- While the gold market has seen positive gains since thestart of the year, the metal’s time to shine won’t come until the fall when one portfoliomanager expects to see a global bond market selloff.Michael Pento, president and founder of Pento PortfolioStrategies said that he is currently underweight gold in hisdeflation/inflation portfolio, but he added that he expects t...Read More