NEW YORK, Jan 8 (Reuters) - The S&P 500 barely rose on Monday while the healthcare and financial sectors weighed and investors took a breather ahead of earnings season and after the strong rally that marked the start of 2018.The Dow Jones Industrial Average fell 12.94 points, or 0.05 percent, to 25,282.93, the S&P 500 gained 4.55 points, or 0.17 percent, to 2,747.7 and the Nasdaq Composite...Read More
ALL TIMES IN EST/GMT -------------------------------------------------------0600/1100: The National Federation of Independent Business issues Small Business Optimism Index for December.1130/1630: The Labor Dept. issues Job Openings and Labor Turnover Survey for November.1130/1630: The Treasury Dept. holds weekly sale of 4-week bills.1300/1800: The Treasury Dept. sells 3-year notes.1630/2130: The A...Read More
(Updates market action after Fed speeches)* Treasury to sell $56 bln supply this week* Stronger German debt helps U.S. bonds firm* Fed's Bostic indicates doubt about three rate hikes this year By Kate DuguidNEW YORK, Jan 8 - U.S. bond yields were little changed on Monday after a boost from stronger German government debt and a Federal Reserve official's remarks that the U.S. central bank may only...Read More
Blake BrittainWASHINGTON (Reuters) - Weather and climate-related disasters cost the United States a record $306 billion in 2017, the third-warmest year on record, the U.S. National Oceanic and Atmospheric Administration said on Monday.The federal agency’s report underscores the economic risks of such disasters even as President Donald Trump’s administration casts doubts on their causes...Read More
Howard SchneiderATLANTA (Reuters) - The Federal Reserve may only need to raise interest rates two times in 2018 given weak price pressures and possible loss of public confidence in the central bank’s ability to hit a 2 percent inflation target, Atlanta Fed President Raphael Bostic said on Monday.Bostic, a voter on interest rate policy this year, also added his voice to a group of Fed officia...Read More
Universal Display Corporation (NASDAQ:OLED) had a huge year in 2017 and that momentum is carrying over to the new year, with the shares adding 8.7% today to trade at $194.90, earlier tapping a record high of $196.90. This move comes after Susquehanna earlier lifted its price target to $215 from $195. OLED stock could also be feeling tailwinds fromCES, where a number of new products have featured O...Read More
Gold shines at the start of 2018 (+1.5% YTD).Speculators bought a lot of gold over December 26, 2017-January 2, 2018, the CFTC shows.ETF investors remained quiet over December 29, 2017-January 5, 2018, according to FastMarkets' estimates.The US jobs report for December disappointed slightly though gold was under downward pressure. Some charts.I remain long GLD for 2018. Introduction Welcome to...Read More
Cirrus Logic, Inc. (NASDAQ:CRUS) stock was downgraded this morning by KeyBanc to "sector weight" from "overweight." The firm cited Apple (AAPL) as the reason for the downgrade, due to fears that the iPhone X sales may be "worse than expected." The news has CRUS stock down 0.5% today at $53.60. CRUS shares have lost 16% during the past six months, and fell to an annual low of $48.61 on Dec 6. A mi...Read More
NASHVILLE, Jan 8 (Reuters) - U.S. President Donald Trump is close to making a decision on who to nominate as vice chair of the Federal Reserve, an administration official said on Monday.The position became vacant in October after veteran central banker Stanley Fischer stepped down for personal reasons. (Reporting by Jeff Mason, writing by Roberta Rampton; editing by Diane Craft) Disclaimer: The v...Read More
* Euro down as investors take profits* Bitcoin slips as website drops S.Korea prices (Updates prices, market activity, comment)By Saqib Iqbal AhmedNEW YORK, Jan 8 (Reuters) - The dollar rose to a more than one-week high against a basket of other major currencies on Monday, helped by a pullback in the euro as investors took profits after the common currency's recent rally.The dollar index , which m...Read More
It's another record-setting day on Wall Street, with the Dow, S&P 500 Index (SPX), and Nasdaq Composite (IXIC) fresh off all-time peaks. While the major market indexes are trading in a tight range, however, several individual stocks are making big moves, including electric car maker Tesla Inc (NASDAQ:TSLA), Snapchat parent Snap Inc (NYSE:SNAP), and gene-editing name Intellia Therapeutics Inc (NASD...Read More
(Adds discussion of yield curve; further rate comments)By Howard SchneiderATLANTA, Jan 8 (Reuters) - The Federal Reserve may only need to raise interest rates two times in 2018 given weak price pressures and possible loss of public confidence in the central bank's ability to hit a 2 percent inflation target, Atlanta Fed President Raphael Bostic said on Monday.Bostic, a voter on interest rate poli...Read More
GoPro Inc (NASDAQ:GPRO) stock fell to a record low of $5.04 today, after the firm cutits fourth-quarter sales forecast, announced plans to cut its workforce, and said it will exit the drone business. In addition, the firm slashed the price of its Hero6 cameras, and announced the departure of two high-level executives. However, GPRO stock is off its session lows, at last check, amid reports the fir...Read More
WASHINGTON, Jan 8 (Reuters) - The U.S. Federal Reserve could better fight a recession by committing to keep interest rates lower for longer to keep average inflation on a steady upward path over the years, San Francisco Fed President John Williams said on Monday.Williams in the past has spoken favorably of this approach to monetary policy, known as price-level targeting. "It basically promise...Read More
CARACAS, Jan 8 (Reuters) - Prices in Venezuela, which is believed to have the world's highest inflation, jumped 2,616 percent last year, the country's opposition-led National Assembly said, as millions suffer from food and medicine shortages during a severe economic crisis.Opposition politicians, whose numbers are broadly in line with analysts' estimates, on Monday put December's inflation figure...Read More
Jan 9 (Reuters) - Stock MarketsNet ChngStock MarketsNet ChngS&P/ASX 200** 6,130.40 8.10NZX 50**8,425.48 -30.07DJIA25,289.66-5.42 NIKKEI**23,714.53208.20Nasdaq7,152.21115.625FTSE**7,696.51 -27.71S&P 500 2,745.46 2.30Hang Seng** 30,899.5384.89SPI 200 Fut 6,085.05.0 STI** 3,512.18 22.73SSEC**3,410.00 18.25 KOSPI** 2,513.28 15.76-----------------------------------------------------------------...Read More
* Euro takes a breather after run higher* Speculators raise COMEX gold net longs* GRAPHIC-2018 asset returns: (Updates prices; adds analysts comments, NEW YORK dateline)By Renita D. Young and Jan HarveyNEW YORK/LONDON, Jan 8 (Reuters) - Gold edged lower on Monday, retreating further from last week's 3-1/2-month high as the U.S. dollar regained some ground against the buoyant euro and traders bet o...Read More
Weight Watchers International, Inc. (NYSE:WTW) stock is among the best of the S&P 500 Index (SPX) today, after Oprah Winfrey -- a major WTW stakeholder -- fueled speculation about a serious presidential bid in 2020. Against this backdrop, WTW shares were last seen 13.3% higher at $53.14, on pace for their best day since an early November post-earnings bull gap. What's more, Weight Watchers options...Read More
Editor's Note: Colin Cieszynski, chief market strategist at The Fundamental Technician, provided exclusive commentary for Kitco News' 2018 Outlook Series.Finding a place for metals among new currency options(Kitco News)- Historically, gold has helda special place in the currency world; as a store of value whose level ofsupply is outside of the control of the world's central banks. As the world'spr...Read More
(Kitco News) - Gold and silver prices were ending the U.S. day session modestly weaker Monday. Someprofit-taking and chart consolidation were featured in both metals, afterrecent good gains. A higherU.S. dollar index on this day also worked againstthe precious metals market bulls. February Comex gold was last down $2.30 anounce at $1,320.10. March Comex silver was last down $0.135 at $17.15 an oun...Read More