Feb 14 (Reuters) - Wall Street's main indexes inched higher on Wednesday morning, reversing course from losses earlier in the session that were sparked by stronger-than-expected inflation data.The Dow Jones Industrial Average rose 28.14 points, or 0.11 percent, to 24,668.59. The S&P 500 gained 10.09 points, or 0.39 percent, to 2,673.03. The Nasdaq Composite added 55.47 points, or 0.79 percent,...Read More
(Kitco News) - Goldprices are posting sharp gains of around $20 an ounce inlate-morning action Wednesday. A volatile day in the U.S. stock market ishelping to boost safe-haven gold. U.S. stock indexes were poised to open theU.S. day session modestly up, but then dropped sharply in the immediateaftermath of a hotter-than-expected U.S. consumer inflation report. Since thenthe stock indexes have boun...Read More
Universal Display Corporation (NASDAQ:OLED) stock is up 8.1% to trade at $157.91, afterthe electronics supplier reached a long-term licensing deal with Samsung's display business -- which supplies Apple (AAPL) with organic light-emitting diode (OLED) screens. The deal will run through 2022, with the option for extension. After touching a record high of $209 on Jan. 19, Universal Display stock sol...Read More
(Kitco News)- Gold investors should feel a little more confident as theyellow metal has proven resilient following a sharp selloff after U.S.inflation data shocked financial markets.Wednesday morning has been volatile for the gold market,which is just off session highs, recovering from a $14 drop following mixedU.S. economic data from January; the Consumer Price Index showed inflation washotter th...Read More
(Kitco News) - Goldprices have pushed to new daily highs and are solidly up on theday, in late-morning trading Wednesday. Some safe-haven demand is featured asthe U.S. stock indexes are showing a significant increase in daily volatilityso far Wednesday. Chart-based buying interest is also featured in gold futuresas buy stop orders were triggered when prices moved to a new high for the week.April C...Read More
Retailer Target Corporation (NYSE:TGT) scored an upgrade to "outperform" from "neutral" at Baird today, along with a price-target hike to $85 from $75, with the brokerage firm waxing optimistic on same-day delivery prospects and exclusive brand launches, among other things. TGT shares yesterday popped above their 10-day moving average for the first time since Jan. 24 -- a day after the stock touch...Read More
Beleaguered burrito chain Chipotle Mexican Grill, Inc. (NYSE:CMG) is catching a lift this morning, as traders cheer reports that the company has hired Taco Bell boss Brian Niccol -- the mastermind behind the Doritos Locos Taco -- as its new CEO. Niccol is slated to replace Chipotle founder Steve Ells in the top job as of March 5.The news has CMG trading sharply higher this morning, up 13.3% at $28...Read More
Shares of Fossil Group Inc (NASDAQ:FOSL) have gapped nearly 82% higher in electronic trading -- set to soar to their highest point since an early May bear gap, and poised for their best day ever -- after the watchmaker reported better-than-expected fourth-quarter earnings and revenue, citing strong demand for wearables. The retailer also said same-store sales jumped 2% in the last three months of...Read More
Gold “fulfilled its role” by providing liquidity when investorsneeded it during a recent sell-off in global equities, says Standard Chartered.Whereas such stock-market sell-offs sometimes lead to safe-haven buying, golddeclined in this instance, with a number of analyst saying some investorsliquidated their gold holdings to raise needed cash. “While gold’s price weakness ma...Read More
Stock futures are cratering this morning, dragged lower by a bigger-than-anticipated rise in inflation data. The consumer price index (CPI) rose by 0.5% in January amid "broad-based" price increases -- marking the largest gain in five months, and exceeding consensus estimates for a 0.3% uptick. Dow Jones Industrial Average (DJI) futures are trading over 300 points below fair value, while S&P 50...Read More
• Improving risk appetite now seemed to cap gains. • US CPI/monthly retails sales to provide fresh impetus. Gold trimmed some of its early gains to 6-day tops but has still managed to hold with minor gains for the third consecutive session. Spot prices touched an intraday high near the $1337 region and the up-move was being supported by some follow-th...Read More
Canada's IAMGOLD Corp. (TSX IMG), (NYSE: IAG) has kicked off a feasibility study for its C??t?(C) Gold Project, located in the Abitibi gold belt in Ontario, and said a construction decision should be made in the first half of 2019.Last year, the Toronto-based miner sold a 30% interest in the proposed open pit mine to Japan's Sumitomo Metal Mining, the Asian nation's No. 1 gold producer, but it re...Read More
(Kitco News) - Goldprices are moderately lower in the wake of a U.S. consumer price index reportthat was hotter than market expectations. The CPI report also pressured theU.S. stock market and U.S. Treasury yields rose. The U.S. dollar index rallied onthe news. April Comex gold futures were last down $4.50 an ounce at $1,325.90.March Comex silver was last down $0.123 at $16.405 an ounce.Thebig U.S...Read More
(Kitco News)- Goldprices have lost some of their lusteras inflation picked up more thanexpected in the first month of the new year.Wednesday,the U.S. Labor Department said its U.S. Consumer Price Index rose 0.5% inJanuary, after increasing 0.3% in December. The increase was stronger thanexpected as consensus forecasts were calling for a 0.2% increase.The report said that annual inflation rose 2.1%...Read More
The Consumer Price Index is ameasure that examines the weighted average of prices of a basket of consumergoods and services, such as transportation, food and medical care. It iscalculated by taking price changes for each item in the predetermined basket ofgoods and averaging them. Changes in the CPI are used to assess price changesassociated with the cost of living; the CPI is one of the most freq...Read More
Mr. Mark Kolebaba reportsADAMERA DRILLING CONFIRMS SULFIDE MINERALIZATION AT SE-01 - FOLLOW UP DRILLING UNDERWAYAdamera Minerals Corp.'s first hole on the SE-01 VTEM target at its Cooke Mountain project in Washington State is mineralized with sulphides and magnetite.The drill hole intersected a thick zone with both semi-massive and disseminated sulphides over a 120-metre core length.Mineralization...Read More
Monday is Presidents Day, which for U.S. investors means a short four-day trading week. Today, I'll look at how stocks have historically performed after this holiday, and during shortened trading weeks in general. Finally, I'll highlight individual stocks that have performed especially well or terribly during the week of Presidents Day.Stocks During Presidents Day Week Presidents Day officially be...Read More
Editor's Note: Welcome to Kitco's new Bitcoin Daily Technical Alert. Every trading day veteran Kitco technical analyst Jim Wyckoff will provide you with a concise and easy-to-understand near-term technical brief on Bitcoin. Importantly, Jim will glean the short-term charts and technical studies, and then alert you to the signals he sees regarding upcoming potential bigger price moves or price tren...Read More
The platinum market is set for another surplus this year after recording oversupply of 110,000 ounces in 2017, Johnson Matthey said in a report on Wednesday, although its sister metal palladium is tipped to see another deficit.Platinum demand fell nearly 7 percent last year, with sharp falls seen in Japanese investment and Chinese jewellery buying as well as a slowdown in consumption by carmakers,...Read More
Mr. B. Matthew Hornor reportsMAPLE GOLD UPDATES DOUAY RESOURCE ESTIMATE, INCREASING CONTAINED OUNCES AND CONVERTING MORE THAN 450,000 OUNCES INTO INDICATED RESOURCES Maple Gold Mines Ltd. has provided an updated mineral resource estimate for the company's Douay gold project, as prepared by Micon International Ltd. The updated estimate includes additional drilling and assays from work completed dur...Read More