Stocks have kicked off 2018 on a high note, with tech shares leading the path higher. Among other names making big moves are pharma stock Abbott Laboratories (NYSE:ABT), biotech Achaogen Inc (NASDAQ:AKAO), and fast casual dining name Chanticleer Holdings Inc (NASDAQ:BURG). Here's a quick look at what's boosting shares of ABT, AKAO, and BURG.ABT Stock Earns a Pair of High-Profile UpgradesAbbott Lab...Read More
(Updates share prices, adds analyst comment)By Liz HamptonHOUSTON, Jan 2 (Reuters) - Shares of Weatherford International Plc fell 18 percent on Tuesday after the oilfield services companyabandoned a proposed joint venture with Schlumberger and instead sold its hydraulic fracturing business to Schlumberger, a bigger rival.The deal with Schlumberger, worth $430 million, gave Weatherford roughly $10...Read More
(Corrects headline, first paragraph to show index slightly higher in morning trade, not lower)* TSX up 5.91 points, or 0.04 percent, to 16,215.04* Six of the TSX's 10 main groups move lower TORONTO, Jan 2 (Reuters) - Canada's main stock index was slightly higher in morning trade on Tuesday, with gold miners and marijuana producers pushing higher while financial stocks weighed. * At 10:03 a.m. ET...Read More
* Dollar starts 2018 on back foot, still boosting gold* Spot gold chart shows overbought conditions-technicals* Palladium hits record after 56 pct rally in 2017 (Updates prices, comment; adds byline, NEW YORK dateline)By Chris Prentice and Jan HarveyNEW YORK/LONDON, Jan 2 (Reuters) - Gold extended its rally into the new year on Tuesday, touching late September highs on a softer U.S. dollar, while...Read More
* European stocks close lower* U.S. stocks higher, boosting global shares* Euro, sterling gain while dollar drops (Updates to European market close; adds commentary)By Stephanie KellyNEW YORK, Jan 2 (Reuters) - European stocks closed lower on Tuesday, the first trading day of 2018, while Wall Street advanced and the U.S. dollar fell to its weakest in over three months against key currencies. MSCI'...Read More
BUENOS AIRES, Jan 2 (Reuters) - Argentina collected 235.210 billion pesos ($12.61 billion) in tax revenue in December, the AFIP tax agency said on Tuesday, bringing the total take for 2017 to 2.537 trillion pesos ($136.07 billion). (Reporting by Walter Bianchi; Writing by Hugh Bronstein; Editing by Chris Reese) Disclaimer: The views expressed in this article are those of the author and may not re...Read More
Lululemon Athletica Inc. (NASDAQ:LULU) is starting off the year with an impressive slew of analyst attention, as the athletic apparel stock received no fewer than three price-target raises today. Telsey Advisory Group hiked its forecast to $92 from $84, while J.P. Morgan Securities upped its target to $87 from $79. The third raise, to $88 from $78, came from Citigroup -- despite the brokerage firm...Read More
1. There are very few sellers leftThere were very few sellers left in January 2016 when the devastating "forever bear" was about to end. Six months later and a 150% rebound in the large caps and 200% rise in the juniors (GDXJ) provided sellers an opportunity. They drove the miners and juniors down by 40% to 45% in less than five months. However, both GDX and GDXJ have been able to hold above that...Read More
(Recasts lead paragraph, adds quote)By Richard LeongNEW YORK, Jan 2 (Reuters) - Traders increased their purchases of U.S. three-month Treasury bills at a record-size auction on Tuesday in a sign they expect Congress to reach a deal to raise the debt ceiling by late March.A measure of overall demand at the latest three-month bill sale rebounded to its strongest in a month from its below-average le...Read More
FRANKFURT, Jan 2 (Reuters) - The European Central Bank may end its stimulus programme this year if the euro zone economy continues to grow strongly, ECB rate-setter Ewald Nowotny told a German newspaper.The ECB has said it will buy bonds at least until September and it is widely expected to wind down the 2.55 trillion-euroscheme, the centrepiece of its efforts to revive inflation in the euro zone,...Read More
(Bloomberg) - Gold is starting the new year on the front foot. Bullion advanced for an eighth session to head for the longest stretch of gains since mid-2011, building on an annual surge.Bullion for immediate delivery advanced 0.9 percent to $1,315.08 an ounce at 2:15 p.m. in New York, according to Bloomberg generic pricing. Last year, the commodity climbed 14 percent, the best performance in sev...Read More
(Kitco News) - Gold prices ended the U.S. day session moderately up and hit a more-than-three-monthhigh Tuesday. Silver made slight gains and hit a five-week high. A slumpingU.S. dollar index that hit a better-than-three-month low today is a bullishelement for the precious metals. Gold and silver markets also saw safe-havendemand come from heightened geopolitical risks. February Comex gold was las...Read More
Dmitry Zhdannikov, Devika Krishna KumarLONDON (Reuters) - Oil prices eased on Tuesday after hitting mid-2015 highs in early trading, as major pipelines in Libya and the UK restarted and U.S production soared to the highest in more than four decades.It was the first time since January 2014 that the two crude oil benchmarks opened the year above $60 per barrel, buoyed by large anti-government rallie...Read More
Huw JonesLONDON (Reuters) - Bankers will work through the night to iron out last minute hitches before Wednesday’s launch of a major reform of European Union financial markets that aims to apply lessons from the financial crisis nearly a decade ago.The new rules are already a year late due to their complexity and regulators have had to issue eleventh-hour guidance to banks and financial firm...Read More
Jan 3 (Reuters) - Stock MarketsNet ChngStock MarketsNet ChngS&P/ASX 200** 6,061.30 -3.80 NZX 50**8,398.08 -10.45DJIA24,754.6736.18 NIKKEI**22,764.94-19.04Nasdaq6,984.97180.561FTSE**7,648.1-39.67S&P 500 2,689.25 15.64 Hang Seng** 30,515.31596.16SPI 200 Fut 6,028.00.10STI** 3,430.327.38SSEC**3,349.05241.8799 KOSPI** 2,479.65 12.16--------------------------------------------------------------...Read More
Dhara RanasingheLONDON (Reuters) - Borrowing costs across the euro area shot higher on Tuesday as a cut in monthly ECB asset purchases became a reality, with hawkish comments from a top official and strong data hurting sentiment towards bonds on the first trading day of the year.Bonds from the bloc’s periphery, the biggest beneficiaries of European Central Bank stimulus, bore the brunt of th...Read More
Editor's Note: View Kitco News' full 2018 outlook coverage (Kitco News) - Known as a fan favorite, the Expert Series brings together well-known investors and Kitco regulars to find out where they will be putting their money in 2018.This year, in a new twist to the feature, Kitco News has asked some of the most influential mining sector newsletter writers how they would invest $100K in the mining s...Read More
* Oil trades near strongest levels since mid-2015* Media, retail stocks rise after positive broker recommendations* Casino stocks hit by downbeat December gambling revenue* Indexes up: Dow 0.2 pct, S&P 0.62 pct, Nasdaq 1.2 pct (Updates to early afternoon)By Sruthi ShankarJan 2 (Reuters) - Wall Street's major indexes were higher on the first trading session of 2018 on Tuesday, driven by gains i...Read More
• Broad-based USD weakness underpins. • Risk-off mood provides an additional boost. • Recovering US bond yields fail to cap gains. Gold was seen building on its bullish momentum further beyond the $1300 handle and rose to fresh three-month highs during the mid-European session. The precious metal began 2018 on a firmer not...Read More
By Liz HamptonHOUSTON, Jan 2 (Reuters) - Shares of Weatherford International Plc fell more than 17 percent on Tuesday after the oilfield services companyabandoned a proposed joint venture with Schlumberger and instead sold its hydraulic fracturing business to Schlumberger, a bigger rival.The deal with Schlumberger, worth $430 million, gave Weatherford roughly $100 million less than originally anti...Read More