WASHINGTON (Reuters) - The U.S. International Trade Commission said on Thursday it had made a final finding that imports of aluminum foil from China hurt U.S. producers, a move that locks in place hefty duties of up to 188 percent on Chinese exporters.The “final phase” finding came in an anti-dumping and anti-subsidy case brought by the Aluminum Association Trade Enforcement Working Gr...Read More
(Kitco News) - Goldandsilver prices were ending the U.S. day session lower and near their daily lowsThursday. Both futures markets were poised to close at two-week low closestoday. A stronger U.S. dollar on this day and still-keen investor risk appetitearound the globe kept buyers of the safe-haven metals on the sidelines. April Comex gold futures were last down $8.80 an ounce at $1,316.90. May Co...Read More
(Kitco News)- Gold is truly a gift from the heavens, especially in eastern Russia after gold bars fell from a cargo plane Thursday.According to Russian media reports, about 3 tons of gold fell from a plane and on to the runway as it was taking off in the eastern city of Yakutsk. The gold belonged to Chukotka Mining and Geological Company, a subsidary of Kinross Gold.The cargo plane was carrying a...Read More
STX shares found support just above their 2017 highSubscribers to Schaeffer's Weekend Trader Alert service recently scored a 101% profit with Seagate Technology PLC (NASDAQ:STX) June 48-strike call. We're going to take a look back to see why we were initially bullish on STX when we recommended the call, and how the options trade unfolded. We entered our bullish STX position on Tuesday, Jan. 16, a...Read More
Stocks extended their short-term losses on Wednesday, as they retraced most of last week's Friday's rally. The broad stock market failed to continue its rebound from February 9 low despite technology stocks reaching new record highs. Investors' sentiment worsened again following economic news, trade war fears. There are still two possible future scenarios. Or maybe three, but the third one is the...Read More
WASHINGTON (Reuters) - The number of Americans filing for unemployment benefits fell last week, pointing to sustained labor strength even as economic growth appears to have slowed early in the first quarter.Other data on Thursday showed a rise in the prices of imported goods in February amid U.S. dollar weakness, bolstering expectations that inflation will pick up this year. Labor market strength...Read More
SAO PAULO (Reuters) - Mexico and Canada should be ready to continue with a version of the North American Free Trade Agreement (NAFTA) without the United States, the Mexican economy minister said on Thursday.“You have to be ready to live with a NAFTA without the U.S.” Economy Minister Ildefonso Guajardo said at the World Economic Forum on Latin America in Sao Paulo.“NAFTA at risk...Read More
A win today would snap the DJI's three-day losing streakThe Dow Jones Industrial Average (DJI) briefly fell into negative territory shortly after the open, pressured by another drop for blue chip Boeing (BA). However, the Dow has since swung to a triple-digit lead -- on track to snap its three-day losing streak -- boosted by a round of relatively positive economic data and a big analyst-induced po...Read More
WASHINGTON (Reuters) - U.S. President Donald Trump in coming weeks will get recommendations to address China’s “theft and forced transfer” of American intellectual property, White House trade adviser Peter Navarro said on Thursday.“This will be one of the steps - one of the many steps - that the president is courageously going to take in order to address unfair trade practi...Read More
WASHINGTON (Reuters) - U.S. President Donald Trump’s tough approach to global trade, including his new tariffs on metals imports, will not necessarily provoke a trade war, the White House’s top adviser on international economic exchanges, Peter Navarro, said during an interview on CNBC on Thursday.“We can obviously do it in a way that can be good for the American people and good...Read More
RIYADH (Reuters) - Saudi Arabia will develop nuclear weapons if its arch-rival Iran does so, the kingdom’s crown prince said in remarks released on Thursday, raising the prospect of a nuclear arms race in a region already riven with conflict.“Saudi Arabia does not want to acquire any nuclear bomb, but without a doubt if Iran developed a nuclear bomb, we will follow suit as soon as poss...Read More
(Kitco News) - Gold prices may ease in the near to intermediate term asmarkets factor in Federal Reserve rate hikes in 2018, but the downside should belimited by political uncertainty and trade tensions, according to a report byStandard Chartered.Later in the year, the metal should draw support from aweaker U.S. dollar and rising inflation expectations, the bank said in aresearch note Wednesday.Th...Read More
WASHINGTON (Reuters) - The Trump administration and Republicans in Congress are seeking to make temporary personal income tax cuts passed last year permanent, White House spokesman Raj Shah said on Thursday, adding they could also lower capital gains tax rates.Shah, in an interview on Fox Business Network, said details were still being worked out on a potential second tax cut bill that would follo...Read More
WASHINGTON (Reuters) - The United State slapped sanctions on 19 Russian individuals and five groups, including Moscow’s intelligence services, for meddling in the 2016 U.S. election and malicious cyber attacks, the Treasury Department said on Thursday.Treasury Secretary Steve Mnuchin said there would be additional sanctions against Russian government officials and oligarchs “for their...Read More
WASHINGTON (Reuters) - Influential Republican U.S. lawmakers joined Democrats to urge President Donald Trump on Thursday to take action - including spending millions of dollars allocated by Congress and staffing a key “information warfare” unit - to stop Russian efforts to undermine American national security in cyberspace.The New York Times reported on March 4 that the State Departmen...Read More
Mr. Brian Ostroff reportsARIANNE PHOSPHATE RECEIVES AN INVESTMENT FROM THE GOVERNMENT OF QUEBEC FOR ITS LAC APAUL PROJECTArianne Phosphate Inc. has received an investment from the government of Quebec by way of private placement of $1,407,000 into the common shares of Arianne. "By making this investment, the government of Quebec is helping to pave the way forward for this important project," said...Read More
GOLD (in USD) Declining further. Gold continues decreasing, heading for the 1320 range. The pair currently trades between hourly support and resistance at 1300 (29/12/2017 low) and 1348 (20/02/2018 high). Expected to show further decrease. In the long-term, the technical structure suggests that there is a growing upside momentum. A break of 1'392 (17/03/2014) is required to confirm it. A...Read More
(Reuters) - E-commerce giant Alibaba Group Holding Ltd (BABA.N) is working on a plan to list on a stock exchange in its home country, China, the Wall Street Journal reported on Thursday, citing people familiar with the matter.Alibaba is evaluating ways in which its shares could be traded by investors on the mainland, the newspaper reported on.wsj.com/2peqrpb, adding that a secondary listing in C...Read More
BRUSSELS (Reuters) - NATO’s European allies spent more on defense for the third year running in 2017 but their outlays failed to lift more countries above a target sought by the United States.U.S. President Donald Trump has demanded allies dedicate 2 percent of national economic output on defense every year and has sought to keep up the pressure by calling that target, agreed at a NATO summi...Read More
Fed funds futures are pricing in an all-but-certain March rate hikeThe marquee event for traders next week is the Federal Open Market Committee's (FOMC) two-day policy setting meeting, with fed funds futures pricing in a nearly 89% chance of a Fed rate hike. Fed Chair Jerome Powell will also be in focus, with the new central bank head participating in his first press conference following the polic...Read More