"We will immediately fight back with a major response," a Ministry of Commerce representative said during a Chinese-language briefing with reporters Friday in Beijing. "We have no other choice." "We feel America is very arrogant. They have taken a wrong action. The result is that they will hurt themselves. If they release the list of $100 billion tariffs, China is prepared. And will not hesitate,...Read More
Nonfarm payrolls rose by 103,000 in March, well below economist expectations of 193,000, according to the Bureau of Labor Statistics. However, markets reacted little to the news as February's number was revised higher and the longer-term trend of strong growth looked intact. Inflation also was of little worry as average hourly earnings rose at a 2.7 percent annualized pace. Jeff Cox| @JeffCoxCNBC...Read More
(Reuters) - U.S. stocks tumbled on Friday on fears of an escalating trade war between the United States and China after President Donald Trump threatened to slap $100 billion more in tariffs and Beijing warned it would fight back “at any cost.”In light of China’s “unfair retaliation” against earlier U.S. trade actions, Trump upped the ante by ordering U.S. officials t...Read More
ROME (Reuters) - Italy’s three main rightist parties said on Friday they will go together to see the president in government talks next week, showing a united front in the face of moves to divide them in coalition negotiations.Following last month’s inconclusive election, President Sergio Mattarella wrapped up an initial round of consultations on Thursday and promised to meet party lea...Read More
China vowed to 'hit back forcefully' against additional U.S. tariffsU.S. stocks continue to fall due to growing fears of a trade war with China, sinking the Dow Jones Industrial Average (DJI) more than 350 points. Not only did President Trump propose an additional $100 billion in tariffs on Chinese imports, but Beijing has already promised to "hit back forcefully." This news has Caterpillar (CAT)...Read More
Silver has been dead money over the past year or so, relentlessly grinding sideways to lower. That weak price action has naturally left this classic alternative investment deeply out of favor. Silver is extremely undervalued relative to gold, while speculators' silver-futures positions are extraordinarily bearish. All this has created the perfect breeding ground to birth a major new silver b...Read More
TORONTO/VANCOUVER (Reuters) - Canada’s Nemaska Lithium Inc (NMX.TO) is in talks with U.S. private equity firm Orion Mine Finance Group on a lithium streaming deal, a type of specialized mining finance, according to people familiar with the transaction.Separately, Nemaska said Thursday Japan’s SoftBank Group Corp (9984.T) will buy a stake of up to 9.9 percent in the company and invest u...Read More
LONDON (Reuters) - Following are five big themes likely to dominate the thinking of investors and traders in the coming week, and the Reuters stories related to them.1/THE POWER OF EARNINGSThe earnings season that kicks off in earnest next week will be the first to reflect President Donald Trump’s tax cuts, and pundits have been falling over themselves to up their forecasts. Earnings growth...Read More
WASHINGTON (Reuters) - The U.S. Securities and Exchange Commission on Friday said it had targeted allegedly illegal stock sales involving Longfin Corp stock as well as the finance and technology company’s chief executive and three other people.The regulator, in a statement, said it had obtained a court order to freeze more than $27 million in trading proceeds from “allegedly illegal di...Read More
BEIJING/WASHINGTON (Reuters) - China warned on Friday it was fully prepared to respond with a “fierce counter strike” of fresh trade measures if the United States follows through on President Donald Trump’s threat to slap tariffs on an additional $100 billion in Chinese goods.In light of China’s “unfair retaliation” against earlier U.S. trade actions, Trump uppe...Read More
• A modest USD retracement helps bounce off lows. • Gains remain capped ahead of the key NFP report. Gold pared some of its losses to 2-week lows and is now trying to stabilize around the $1325-24 region as investors keenly await the release of latest US jobs report. In absence of any fresh fundamental trigger, a modest US Dollar retracement, am...Read More
LONDON (Reuters) - Bank of England Governor Mark Carney said on Friday that governments and companies around the world were making progress in the push toward creating a low-carbon economy.“The good news is that governments are now establishing the policy frameworks, and the private sector is beginning to allocate capital accordingly,” Carney told an international conference on climate...Read More
The blockchain stock has given back 44% in 2018After adding an astounding 265% in 2017, Overstock.com Inc (NASDAQ:OSTK) raced to a record high of $89.80 on Jan. 8, but promptly capsized. At last check, the stock is up 0.9% to trade at $35.85, after the company announced Gregory Iverson as its new chief financial officer. If history is any guide, though, it could be time to bet on the blockchain s...Read More
(Kitco News) - Participants in the Kitco News weekly gold surveylook for the price of the metal to rise next week amid ongoing rhetoricpointing to a potential trade war between the U.S. and China and after a softU.S. jobs report. Wall Street Bullish Bearish Neutral VSMain Street Bullish Bearish Neutral The metal has chopped up and down lately onheadlines about the U.S. and Chi...Read More
(This April 5 story corrects paragraph 18 to show the expansion will add 200,000 barrels of daily capacity, not 200 million barrels.)By Devika Krishna KumarNEW YORK (Reuters) - The Permian basin in Texas is leading the way as U.S. oil production has reached an all-time high, but the prolific output is causing bottlenecks as pipelines transporting the crude have filled up more quickly than expected...Read More
MEXICO CITY (Reuters) - Mexican Foreign Minister Luis Videgaray said on Friday he does not rule out the possibility of a “quick result” in negotiations with the United States and Canada over an updated North American Free Trade Agreement (NAFTA).Mexico’s top diplomat emphasized that progress is being made on various issue-specific tables of the negotiation, noting that he met in...Read More
(Reuters) - U.S. stock indexes opened lower on Friday as renewed fears of a trade conflict between the United States and China outweighed a lower-than-expected March jobs data that eased concerns over aggressive interest rate hikes.The Dow Jones Industrial Average .DJI fell 234.05 points, or 0.96 percent, to 24,271.17. The S&P 500 .SPX lost 22.96 points, or 0.862237 percent, to 2,639.88. T...Read More
WASHINGTON (Reuters) - U.S. trade talks with China have not yet begun but will hopefully start in the next few months, President Donald Trump’s economic adviser said on Friday.“They have not really begun yet. China’s response to our complaints ... has been unsatisfactory,” White House economic adviser Larry Kudlow told Bloomberg TV. “That’s why we’re looki...Read More
(Kitco News)- The underlying focus for the gold market remains the worryabout a potential trade war with China. It was a matter of time beforePresident Trump's ego forced him to respond to China's comment on Wednesdaythat they had won round one of the tariff salvo. Last night, President Trump proposedanother $100billion to the list of tariffincreases on the Chinese and the gold market prompt...Read More
NTAP has enjoyed the support of the 80-day moving average in recent monthsJust off yesterday's analyst day where the company announced it's doubling its quarterly dividend and increased its share buyback plan, data storage specialist NetApp Inc. (NASDAQ:NTAP) is trading up 1.5% at $63.84 after receiving a slew of positive analyst attention. NTAP notched no fewer than four price-target hikes, with...Read More