TORONTO, Jan 25 (Reuters) - Canada's main stock index fell on Thursday as lower commodity prices pressured energy and materials shares, while shares of financial companies also lost ground.The Toronto Stock Exchange's S&P/TSX composite index closed down 80.2 points, or 0.49 percent, at 16,204.01. Five of the index's 10 main groups ended lower. (Reporting by Fergal Smith; Editing by Sandra Male...Read More
NEW YORK, Jan 25 (Reuters) - The Dow Jones Industrial Average and S&P 500 hit record highs on Thursday although much of Wall Street relinquished earlier gains after President Donald Trump said he wants a strong dollar.The Dow Jones Industrial Average rose 140.67 points, or 0.54 percent, to 26,392.79, the S&P 500 gained 1.71 points, or 0.06 percent, to 2,839.25 and the Nasdaq Composite drop...Read More
(Adds details)By Andrea MandalaMILAN, Jan 25 (Reuters) - European Central Bank supervisors want euro zone lenders to reduce the weight of impaired loans so it falls below 10 percent of total debts fairly quickly, the head of Italy's fifth-largest bank UBI said on Thursday.The ECB is pressuring European lenders to tackle a $1 trillion pile of debts that turned sour due to an economic slump. In Ita...Read More
* Greenback recovers after Trump says he wants 'strong dollar'* Oil up on tight supply and weak dollar, Brent passes $71* Wall St surrenders gains after Trump talks up dollar (Updates with reaction to Trump comments on dollar)By Caroline ValetkevitchNEW YORK, Jan 25 (Reuters) - The dollar reversed losses and U.S. stocks relinquished gains after U.S. President Donald Trump backed a strong dollar.Th...Read More
- Bullion retreats from highs around $1,370/oz. - USD weakness remains the sole driver of the upside. - Focus on Trump’s speech at Davos. The upbeat sentiment around the yellow metal stays unabated so far this week, with the ounce troy hovering over the $1,370 area, or multi-month tops. Gold gains capped just below $1,370 The increasing selling pressure around the greenback has been the sole...Read More
(Kitco News) - Bitcoin and cryptocurrencies should not be considered asubstitute for gold, according to the World Gold Council.In a report published Thursday, the WGC said that goldpossesses several characteristics that differentiate it from digitalcurrencies. The most notable factor is that cryptocurrencies have yet to provetheir worth as a strategic component to a portfolio, unlike gold. “...Read More
* Dollar reverses losses after Trump comments* ECB keeps ultra-easy policy firmly on hold (Updates prices, market activity, adds comment)By Stephanie KellyNEW YORK, Jan 25 (Reuters) - The U.S. dollar reversed losses on Thursday when President Donald Trump said he wanted a "strong dollar," a day after Treasury Secretary Steven Mnuchin said he welcomed a weaker greenback, which moved the c...Read More
SAO PAULO, Jan 25 (Reuters) - Brazil's Finance Minister Henrique Meirelles said on Thursday that recent statements by the U.S. Treasury Secretary about the dollar would impact its exchange rate over the short term. Many emerging currencies hit multi-year highs against the greenback Thursday, with the dollar index languishing at more than three-year lows after U.S. Treasury Secretary Steven Mnuchin...Read More
Earlier today, the greenback declined to the lowest level against the Swiss franc since mid-September 2017, which resulted in a small drop under the long-term support line. Is this a sign of bigger move to the downside or just a trap?EUR/USD The first thing that catches the eye on the daily chart is a tiny breakout above the upper border of the blue consolidation and a fresh 2018 high. Although th...Read More
Weight Watchers International, Inc. (NYSE:WTW) is trading lower today, after Oprah Winfrey clarified that she was not interested in a presidential run in 2020. Considering Winfrey holds a major stake in WTW, the stock is down 3.3% on the news to trade at $65.15 today, on track for its worst single-day session of the new year, and put traders are pouncing. WTW's struggles today may not be entirel...Read More
* Trump says wants to see a strong dollar* Mnuchin says U.S. does not want trade war* European finance ministers express concern about trade war (Adds market action following Trump's comment, dollar index movement and background)By Noah Barkinand Yara BayoumyDAVOS, Switzerland, Jan 25 (Reuters) - U.S. President Donald Trump said on Thursday he ultimately wants the dollar to be strong, lifting the...Read More
WASHINGTON (Reuters) - The United States would stay in the Trans-Pacific Partnership, also known as TPP, if American negotiators were able to create a better agreement, U.S. President Donald Trump said on Thursday.“I would do TPP if we made a much better deal than we had. We had a horrible deal,” Trump said in an interview with CNBC from the World Economic Forum in Davos, Switzerland.R...Read More
* Trumps says he wants strong dollar* U.S. 7-year note auction results show strong demand* ECB's Draghi says euro zone inflation to rise in medium term (Recasts, adds comment, 7-year note auction results, Trump's dollar remarks; updates table, prices in text)By Gertrude Chavez-DreyfussNEW YORK, Jan 25 (Reuters) - U.S. Treasury debt prices rose on Thursday, boosted by solid demand for 7-year notes...Read More
The U.S. stock market has carved out fresh all-time highs today on the back of some well-received blue-chip earnings. Among individual equities making big moves are biotech Summit Therapeutics PLC (NASDAQ:SMMT), cloud concern Nutanix Inc (NASDAQ:NTNX), and Rubbermaid parent Newell Brands Inc (NYSE:NWL). Here's a quick look at how shares of SMMT, NTNX, and NWL are trading.Summit Therapeutics Gaps A...Read More
Gold settled at a level not seen in more than a year on Thursday, as prices built on a steep rally a day earlier, fueled by weaker-dollar sentiment from the Trump administration. But prices for the precious metal moved lower in electronic trading Thursday afternoon as a leading index for the U.S. dollar clawed back up from their lowest levels in three years after President Donald Trump told CNBC...Read More
(Adds detail)LONDON, Jan 25 (Reuters) - The Bank of England said on Thursday it was experiencing intermittent technology problems that are indirectly affecting its ability to process a limited number of transactions for wholesale counterparties."We have implemented workarounds to enable the Bank to operate as normal, including completing wholesale transactions in as timely a way as possible,...Read More
Cigarette stock Philip Morris International Inc. (NYSE:PM) is sinking today, on news a Food and Drug Administration (FDA) panel voted against the company's health claim for its electronic smoking devices. Sector peer Altria Group, Inc. (NYSE:MO) is getting pulled lower, too, as a result. Yet a closer look at PM and MO proves analysts and options traders are expecting the stocks to go higher. At la...Read More
(Kitco News)- Gold prices have fallen to session lows as President DonaldTrump showed his support for a strong U.S. dollar.In an interview with CNBC at the World Economic Forum inDavos Switzerland, Trump said that he wants to see a stronger U.S. dollar,adding that Wednesday’s comments from Treasury Secretary Steven Mnuchin weretaken out of context.“The dollar is going to get stronger a...Read More
With earnings season underway, we decided it would be beneficial to explore one way options traders can profit from a big stock move in either direction. Today, we will be looking into a strategy called the long straddle. A long straddle consists of buying a call option and a put option with the same strike and expiration date. This essentially takes direction out of the equation, so the position...Read More
Yesterday, gold won an influential supporter in the White House. Who is he? The Enemy of Gold’s Enemy Is Gold’s Friend As the ancient proverb goes, my enemy’s enemy is my friend. Although it is usually employed in foreign policy, this concept also applies to finance. Given the negative correlation between the greenback and gold, the enemies of the U.S. dollar are generally gold&...Read More