J.P. Morgan Securities lifted its rating on the chip stock to "overweight"J.P. Morgan Securities upgraded Nvidia Corporation (NASDAQ:NVDA) to "overweight" from "neutral," saying investors aren't pricing in potential upside catalysts from gaming trends and the chipmaker's self-driving car technology. However, with the stock pacing for its worst month in years, the brokerage firm lowered its NVDA pr...Read More
Editor's Note: Updating earlier story with more details from report.(Kitco News) - Gold prices remained onthe defensive after a Conference Board report Tuesday showing that its Octoberindex for U.S. consumer confidence rose to 137.9 from a revised Septemberreading of 135.3.Consensus expectationsfrom most news organizations called for a reading of around 136.3 to 136.4. TheSeptember reading had ori...Read More
An analyst said the stock will be grounded until margins improveSouthwest Airlines Co (NYSE:LUV) is trading up 0.4% at $48.10, despite J.P. Morgan Securities downgrading the stock to "underweight" from "neutral" and cutting its price target to $52 from $63. In the firm's note, it mentioned the shares will be stalled until the company improves its margins. LUV has been stuck in a recent sell-off, w...Read More
BHP Billiton Ltd.'s giant Olympic Dam mine in Australia's Outback is a labyrinth of 450 kilometers of tunnels and roads - an ideal testing ground for the industry's burgeoning shift toward cleaner power.Taking about 30 minutes to drive from top to bottom, there's ample opportunity for the world's biggest miner to test electric SUVs in a bid to cut both costs and pollution, including potentially ha...Read More
BHP Billiton Ltd.'s giant Olympic Dam mine in Australia's Outback is a labyrinth of 450 kilometers of tunnels and roads - an ideal testing ground for the industry's burgeoning shift toward cleaner power.Taking about 30 minutes to drive from top to bottom, there's ample opportunity for the world's biggest miner to test electric SUVs in a bid to cut both costs and pollution, including potentially ha...Read More
BHP Billiton Ltd.'s giant Olympic Dam mine in Australia's Outback is a labyrinth of 450 kilometers of tunnels and roads - an ideal testing ground for the industry's burgeoning shift toward cleaner power.Taking about 30 minutes to drive from top to bottom, there's ample opportunity for the world's biggest miner to test electric SUVs in a bid to cut both costs and pollution, including potentially ha...Read More
BERLIN (Reuters) - German annual inflation picked up in October to reach its highest level in more than 6-1/2 years, data showed on Tuesday, supporting European Central Bank President Mario Draghi's case for gradually winding down his unprecedented monetary stimulus.German consumer prices, harmonized to make them comparable with inflation data from other European Union countries, rose by 2.4 perce...Read More
ROME (Reuters) - Italy’s economy stagnated in the third quarter, and Prime Minister Giuseppe Conte said the zero growth justified Rome’s expansionary 2019 budget which the European Commission has rejected because it breaks EU rules.Gross domestic product was unchanged between July and September, following a 0.2 percent rise in the second quarter, and was up just 0.8 percent on an annua...Read More
WASHINGTON (Reuters) - U.S. President Donald Trump’s administration took action on Monday to cut off a Chinese state-backed chipmaker from U.S. suppliers amid allegations the firm stole intellectual property from U.S. semiconductor company Micron Technology Inc (MU.O).The Commerce Department said it had put Fujian Jinhua Integrated Circuit Co Ltd on a list of entities that cannot buy compone...Read More
(Reuters) - Coca-Cola Co’s quarterly revenue and profit beat analysts’ estimates on Tuesday, as investments to cater to changing consumer tastes paid off with higher sales of its sugar-free sodas and premium waters.The world’s biggest beverage maker, like rival PepsiCo Inc, has been building up a portfolio of non-carbonated drinks and also doubling down on its investments in enha...Read More
"Rio Tinto CEO JS Jacques says there would be upside risk - sorry, benefits - in miners cutting out jargon ($) | https://t.co/LFg94lKqIY $RIO #IMARC2018"Read full newsRead More
I opined in a previous article 2 weeks ago that gold was set to move towards 1,300. In a span of 2 weeks, gold has popped 16 points higher.XAU/USD has benefited from an equity meltdown, with US equity markets erasing most or all of its gains for this year already. More panic-selling should be supportive for gold.A key point: short positioning in US 10- and 30-year Treasuries is at its all-time hig...Read More
A retreat in gold continues in response to a strong U.S. dollar, says George Gero, managing director with RBC WealthManagement. Market participants appear poised to push the dollar index backabove 97, Gero says. As of 9:06 a.m. EDT, the spot dollar index was up 0.209point to 96.788. Comex December gold was down $1.50 to $1,226.10 and earliertraded down to $1,221.40. “It’s still all abo...Read More
UAA recently found support at its 320-day moving averageThe shares of Under Armour Inc (NYSE:UAA) are up 17.2% ahead of the bell, powered higher by the retailer's blowout third-quarter earnings report. Under Armour reported adjusted quarterly profit of 25 cents per share, exceeding the average analyst estimate of 12 cents per share. Revenue topped Wall Street projections, as well, while fiscal-y...Read More
China's stimulus efforts aimed at preventing the economy from slowing further and minimizing the impact of U.S. tariffs are supporting raw materials demand, according to Rio Tinto Group."The Chinese machine is still working very well," CEO Jean-Sebastien Jacques said Tuesday in an interview with Bloomberg Television.China has had a spurt of local bond issuance intended to fund roads, homes and oth...Read More
China's stimulus efforts aimed at preventing the economy from slowing further and minimizing the impact of U.S. tariffs are supporting raw materials demand, according to Rio Tinto Group."The Chinese machine is still working very well," CEO Jean-Sebastien Jacques said Tuesday in an interview with Bloomberg Television.China has had a spurt of local bond issuance intended to fund roads, homes and oth...Read More
(Reuters) - U.S. stock index futures were higher on Tuesday, coming off yet another bout of volatile trading the previous session, as investors weighed the latest salvo in the U.S.-China trade war and earnings reports from blue-chip companies.President Donald Trump said he believes “a great deal” on trade can be struck with China, and that he has billions of dollars worth of new tariff...Read More
LONDON (Reuters) - Oil prices fell on Tuesday, depressed by concerns that the U.S.-China trade dispute will dent economic growth and by signs of rising global supply despite upcoming sanctions against Iran.Benchmark Brent crude oil LCOc1 fell $1.05 a barrel to a low of $76.29 before recovering slightly to around $76.44, down 90 cents, by 1205 GMT. U.S. light crude CLc1 was 60 cents lower at $66.44...Read More
The Big Board tracker is now staring up at numerous layers of former supportMany headlines this past Wednesday, Oct. 24, covered the Nasdaq Composite's (IXIC) close in formal "correction" territory, down more than 10% from the all-time high it had reached as recently as Aug. 30. But considerably less attention was paid to the fact that the Nasdaq's less-flashy cousin, the NYSE Composite Index (NYA...Read More
Dow futures are pointing to a healthy rise at the openU.S. stocks will try again to gain at the open today, after yesterday's rally attempt turned into a massive sell-off. For now, the Dow Jones Industrial Average (DJI) is eyeing a healthy jump, and futures on the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are pointing to positive starts, as well. Traders again will be focusing on corporate ea...Read More