* Reserve bank interest rate decision due on Thursday* Rand recovery, politics boost rate cut chances* Markets point to 56 pct chance of 25 basis point cut By Mfuneko ToyanaJOHANNESBURG, Jan 17 (Reuters) - South Africa's central bank is most likely to cut interest rates by 25 basis points on Thursday, forward markets showed on Wednesday, as the rand currency continues its rally and political tens...Read More
Shares of oncology biotech Halozyme Therapeutics, Inc. (NASDAQ:HALO) are trading 12.2% lower before the open, after Deutsche Bank analyst Andrew Peters cut his price target by $2 to $19. Peters labeled the company's experimental enzyme for hyaluronic acid (HA) as "disappointing" and said the development of the treatment brings on additional risk. On the other hand, Peters noted Halozyme's Enhanze...Read More
NEW YORK, Jan 17 (Reuters) - The dollar held its earlier gains versus a basket of currencies on Wednesday as stronger-than-forecast data on domestic industrial output in December supported the notion of a steady U.S. economic expansion. At 9:27 a.m. (1427 GMT), the index that tracks the greenback against six other major currencies was last up 0.27 percent at 90.639. It fell to a three-year low ear...Read More
One day after the Dow Jones Industrial Average (DJI) took a brief trek north of 26,000 for the first time ever, futures on the blue-chip index are signaling a triple-digit jump out of the gate. Financial earnings continue to be in focus, with Goldman Sachs (GS) stock lower in pre-market trading after the big bank posted its first quarterly loss in six years, though profit beat on an adjusted basis...Read More
The U.S. dollar index is stabilizing Wednesday, afterfalling to a three-year low, but, Lukman Otunuga, research analyst at FXTM,questions whether this is the start of a new uptrend. “Heightened politicaluncertainty in Washington is likely to weigh heavily on the Dollar and may fuelthe downside,” he says. “Dollar bulls are clearly struggling to find freshinspiration from Fed hike...Read More
(Refiles to fix typo in 8th paragraph)* Graphic: World FX rates in 2017 By Saikat ChatterjeeLONDON, Jan 17 (Reuters) - The euro fell nearly half a percent on Wednesday after rocketing to a fresh three-year high above $1.23 as some investors ramped up bullish bets about the currency, though concerns voiced by policymakers this week damped broader optimism.Reflecting the apparent disquiet among som...Read More
(Kitco News) - Gold continues to consolidate,awaiting further signals on the direction of the dollar. Recent comments by BOJand ECB officials on concerns around the strengthening of the yen and euro againstthe dollar have created a pause in the dollar weakness. Yesterday's reversal inthe Dow from an opening 200 plus point gain to a negative close is alsocreating speculation that the equity market...Read More
(Kitco News) - Gold pricesare just a bit lower in early U.S. trading Wednesday, on some minorbacking and filling on the charts after prices scored a four-month high onTuesday. February Comex gold was last down $1.40 an ounce at $1,335.60. March Comex silver was last up $0.021 at $17.21 an ounce.Goldand silver market bulls are still sitting comfortable, amid their positivechart postures, a deprecia...Read More
Once again, the master manipulators, better known as theFederal Reserve, are manipulating dollars to try and keep interest rates low.They are scared to death that rates will get away from them, as they have everytime. They have tried to control and keep them artificially low.The entire QE program has been a debt building bust, fromBernanke through Yellen and there are no real changes expected. The...Read More
Presidential candidate for the conservative National Integration Party (PIN in Spanish), Diego Castro, caused controversy in Costa Rica after he called environmentalist groups "eco-terrorists."Castro, who has been compared by local media to Donald Trump and Rodrigo Duterte, as well as accused of right-wing populism, said that if he wins the election, he would not yield to ecologists' "petty demand...Read More
Mr. Anthony Makuch reportsKIRKLAND LAKE GOLD TARGETS HIGHER PRODUCTION, IMPROVED UNIT COSTS IN 2018 GUIDANCE, ANNOUNCES NEW SHAFT PROJECT FOR MACASSAKirkland Lake Gold Ltd. has provided the company's full-year guidance for 2018, which includes increased production, improved unit costs, andhigher levels of capital and exploration expenditures in support of the company's objective of growing annual...Read More
Editor's Note: Welcome to Kitco's new Bitcoin Daily Technical Alert. Every trading day veteran Kitco technical analyst Jim Wyckoff will provide you with a concise and easy-to-understand near-term technical brief on Bitcoin. Importantly, Jim will glean the short-term charts and technical studies, and then alert you to the signals he sees regarding upcoming potential bigger price moves or price tren...Read More
Stocks have shot higher to begin 2018. The S&P 500 Index (SPX) is up nearly 4% in the first 10 trading days of the year, giving it its best start since 2003. This is a good sign based on the popular January Barometer, which asserts that no matter how January fares, the rest of the year will follow. Below, I run the numbers for the January Barometer and break them down to relate to the current trad...Read More
(Bloomberg) - Stung by some lousy investments that led to billions of dollars in losses a few years ago, the world's major gold producers have cut way back on mining deals - even as metal prices posted their biggest rally since 2010.The value of the industry's transactions, from acquisitions to venture-capital financing, tumbled by more than a third in 2017 to $8.95 billion, the lowest in at le...Read More
Cost-cutting by Barrick, Newmont and Goldcorp pays off'So much less risk' for holders of debt versus equityHaul trucks drive along a haulage road next to an open pit at the Batu Hijau copper and gold mine operated by PT Newmont Nusa Tenggara in Sumbawa, West Nusa Tenggara province, Indonesia, on Wednesday, June 29, 2011. PT Newmont Nusa Tenggara is a unit of Newmont Mining Corp.Photographer: Dadan...Read More
Energy, materials shares lead market lower, Treasuries riseCiti's plans for tax windfall considered big win for investorsHickmore Says Financial Conditions Are Supportive of EquitiesU.S. stocks sank, retreating from all-time highs as commodities producers and industrial shares took a hit with oil and metals in decline. Treasuries rose amid Congressional talks to avert a government shutdown Fr...Read More
The Dow Jones Industrial Average traded above 26,000 for the first time on Tuesday, Jan. 16, and the S&P 500 crossed 2,800 as stocks pushed further into uncharted territory as investors extended bets on a strong corporate earnings season. The Dow gained 176 points, or 0.7%, to 25,984. It crossed 26,000 shortly after markets opened on Tuesday. The blue-chip index blasted t...Read More
Bitcoin prices continued to plunge Tuesday, falling to the lowest levels since early December and extending their bear-market decline to nearly 40% as regulators around the world line up to caution on cryptocurrency speculation. Bitcoin was marked around $2,000, or 17% lower from its Monday close in early trading on the Bitstamp exchange in Luxembourg, which feeds prices into the CME Group futur...Read More
When was the last time you bought your morning coffee using bitcoin? If you answered never, you're probably not alone. For that reason, said former Federal Reserve Gov. Randy Kroszner, bitcoin shouldn't be considered a crypto currency, but rather a crypto asset. "I think the best way to think about what are called cryptocurrencies is really to say it's crypto assets," Kroszner told TheStreet. "A...Read More
Looking to make the most of Dow 26,000? Jefferies has you covered. In a note Monday, Jan. 15, Jefferies analysts offered seven key small- to mid-cap themes for investors to bear in mind as 2018 continues its upward momentum. Analysts noted that many of the "winning formula" themes build from similar ideas held in 2017, which "worked well and have legs." The seven themes, detailed below, are "not...Read More