Gold miners earned the ire of investors including billionaire hedge-fund manager John Paulson for entering into bad deals that destroyed shareholder value in the past. Shareholders of the two companies announcing a merger Monday signaled they think this time may be different.Barrick Gold Corp. Executive Chairman John Thornton said his company isn't paying a premium under its agreement to buy Randg...Read More
WASHINGTON (Reuters) - The U.S. trade deficit rose to a seven-month high in September as imports surged to a record high amid strong domestic demand, offsetting a rebound in exports.The Commerce Department said on Friday the trade gap increased 1.3 percent to $54.0 billion, widening for a fourth straight month. Data for August was revised to show the trade deficit rising to $53.3 billion instead o...Read More
(Reuters) - Tesla Inc (TSLA.O) said on Friday that it is developing plans to start producing about 3,000 Model 3 vehicles per week in Shanghai in the initial phase of its Gigafactory 3 to reduce the impact of tariffs.The company also said here in a filing that Model S and Model X sales in China have been, and will likely continue to be, hurt by recently increased tariffs imposed by the Chinese g...Read More
The shares have been bouncing from a key technical level in recent weeksCiti Research upgraded Wells Fargo & Co (NYSE:WFC) to "buy" from "neutral," saying the bank's potential to return to revenue growth next year could prove "issues are moving to [the] rear view mirror." The brokerage firm maintained its $60 price target on WFC, a 12% premium to last night's close at $53.56.In reaction, WFC is up...Read More
Earnings beats don't seem to be enough for SHAK and LOCO tradersThe shares of restaurant stocks Shake Shack Inc (NYSE:SHAK) and El Pollo LoCo Holdings, Inc. (NASDAQ:LOCO) are trading sharply lower in premarket action. Both companies presented quarterly results last evening, and clearly Wall Street is disappointed in what it saw. We'll take a closer look at SHAK and LOCO below. Same-Store Sales Sin...Read More
MOSCOW (Reuters) - Russia's finance ministry is likely to see a higher inflow of foreign currency in November, but that will have no impact on the currency market for now, a Reuters survey showed on Friday.The finance ministry is expected to receive 481.5 billion roubles ($7.33 billion) worth of foreign currency for its reserves between Nov. 8 and Dec. 6, a poll of eight analysts and economists sh...Read More
The DJI is fending off a sharp post-earnings drop from Apple (AAPL)Futures on the Dow Jones Industrial Average (DJI) are rising once more, trading more than 200 points above fair value, thanks to a strong monthly nonfarm payrolls report. The data indicated the U.S. gained 250,000 jobs in October, beating economists' forecast of 190,000. The blue-chip index is heading toward its fourth straight win...Read More
Standard Chartered says gold hasreasserted its safe-haven status ahead of U.S. midterm elections next week andin response to October weakness in the stock market. Any further weakness instocks would bode well for gold prices, the firm says. “Although the largestgold-buying festival is a major event in the gold calendar, demand leading upto Diwali [festival in India on Nov. 7] has been weaker...Read More
Standard Chartered says gold has reasserted its safe-haven status ahead of U.S. midterm elections next week and in response to October weakness in the stock market. Any further weakness in stocks would bode well for gold prices, the firm says. “Although the largest gold-buying festival is a major event in the gold calendar, demand leading up to Diwali [festival in India on Nov. 7] has been w...Read More
LOS ANGELES (Reuters) - In January, President Donald Trump fired the opening shot of his trade war, slapping tariffs on solar panel imports to boost U.S. manufacturing of a product long dominated by cheap foreign competition.But other duties his administration has imposed since then are making the solar panel components more expensive - dampening the domestic panel manufacturing sector’s ini...Read More
GENEVA (Reuters) - Argentina, Costa Rica, Japan and the European Union are supporting a U.S. drive to enforce greater transparency in World Trade Organization notifications, a proposal published by the WTO showed on Friday.The United States, which is pushing for tighter discipline at the WTO, surprised many diplomats last year with an initiative for administrative sanctions on countries that faile...Read More
(Kitco News) - Gold prices aremodestly lower in early U.S. trading Friday, in the immediate aftermath of avery upbeat U.S. jobs report that falls into the camp of the U.S. monetarypolicy hawks, who want to see interest rates continue to ratchet higher. Goldprices had already been under some pressure prior to the report, on a normalcorrective pullback from Thursday’s good gains. December gold...Read More
(Kitco News) - Gold prices are modestly lower in early U.S. trading Friday, in the immediate aftermath of a very upbeat U.S. jobs report that falls into the camp of the U.S. monetary policy hawks, who want to see interest rates continue to ratchet higher. Gold prices had already been under some pressure prior to the report, on a normal corrective pullback from Thursday’s good gains. December...Read More
WASHINGTON (Reuters) - U.S. job growth rebounded sharply in October and wages recorded their largest annual gain in 9-1/2 years, pointing to further labor market tightening that could encourage the Federal Reserve to raise interest rates again in December.The Labor Department’s closely watched monthly employment report on Friday also showed the unemployment rate steady at a 49-year low of 3....Read More
(Kitco News)- The gold market is seeing a little selling pressurefollowing stronger than expected U.S. employment data.The Bureau of Labor Statistics said 250,000 jobs werecreated in October, economists were expecting to see job gains of around 194,000. At the same time the unemployment rate was unchanged at 3.7%,in line with expectations. The unemployment rate is at its lowest level since 1969.Go...Read More
* U.S.-China trade deal hopes trigger risk rally * Emerging-market shares head for best day since early 2016 * Europe higher with Germany's DAX leading the charge * Hong Kong, Korean markets have best day in seven years * U.S. jobs data next test for rising bond yields * Dollar dips, sterling builds on strongest day of the year * Graphic: World FX rates in 2018 By Marc JonesLONDON, Nov 2 (Reuters)...Read More
SAN FRANCISCO (Reuters) - U.S. President Donald Trump has warned that his favorite measure of success, the stock market, is imperiled if voters favor Democrats in next week’s congressional elections.While not fully accurate - stocks tend to rise regardless of who controls the government - it does bear out that the market has delivered a slightly stronger performance on average when Republica...Read More
"Not yet an off-take agreement but a good signal for investors. Kudos to Kidman Resources. #lithium https://t.co/FRCjgITu3W"Read full newsRead More
* Talk of improved U.S.-China ties boosts risk appetite* 10-year U.S., German yields hit one-week highs* Euro zone manufacturing data disappoints* U.S. jobs data due 1230 GMT* EBA to publish stress test results at 1700 GMT (Updates pricing, adds detail on PMI data)By Virginia FurnessLONDON, Nov 2 (Reuters) - Euro zone government bond yields rose on Friday before U.S. jobs data and after reports th...Read More
BERLIN (Reuters) - Germany's economy likely shrunk by around 0.3 percent in the third quarter, the IfW institute said on Friday, adding this was probably largely caused by declines in production in the auto industry due to the introduction of new pollution standards known as WLTP.Stefan Kooths, head of the forecasting center at the Kiel Institute for the World Economy (IfW), said growth in Europe'...Read More