After last week's bloodbath, some traders may forget that the U.S. stock market enjoyed its best start to a year since 2003. In fact, the S&P 500 Index (SPX) was up more than 10% in 2018 at its peak -- making the recent stock correction all the more rare. Here's how stocks tend to perform after a quick-and-dirty swing to start the year, and how short-term options traders can capitalize.Signal Soun...Read More
ABUJA, Feb 12 (Reuters) - Nigeria's central bank said on Monday it had injected $210 million into the interbank foreign exchange market, part of aneffort to improve liquidity and alleviate the dollar shortages of the past few years.The bank said in a statement it had released $100 million earmarked for the wholesale market, $55 million for small businesses and individuals, and $55 million for cert...Read More
(Kitco News)- The gold market does not have to fear rising bond yields,as inflation expectations are keeping real interest rates muted, according toone investment firm.In a report, Monday, Maxwell Gold, director of investmentstrategy at ETF Securities said that gold prices still have room to push highereven as the yield on 10-year notes rises to 3%. The comments come as 10-yearbond yields have inc...Read More
* LME/ShFE arb: (Updates with closing prices)By Peter HobsonLONDON, Feb 12 (Reuters) - Copper prices rose on Monday from a two-month low last week, helped by a weaker dollar and more stable global markets that encouraged a return to riskier assets. A weaker dollar makes metals cheaper for users of other currencies and can spur demand."A dip in the dollar has lifted the whole base metals secto...Read More
LIMA, Feb 12 (Reuters) - Peru's economy is at "grave risk," of a systemic crisis within its construction sector, as companies under investigation for corruption could be forced to halt projects, Finance Minister Claudia Cooper said on Monday.Cooper told the country's Congress that investments tied to several of the companies allegedly involved in corruption are equivalent to 4.2 percent...Read More
PepsiCo, Inc. (NASDAQ:PEP) is slated to report fourth-quarter earnings before the open this Tuesday, Feb. 13. The stock has a history of muted earnings reactions, according to Trade-Alert; over the past eight quarters, PEP has averaged a one-day post-earnings move of just 0.5%, regardless of direction. This time around, however, the options market is pricing in a bigger-than-expected post-earning...Read More
As an alternative to investing in a junior gold mining ETF I've put together an index of elite investor picks.In general elite investors decreased their exposure to junior gold miners.A possible reason could be pending higher interest rates.5 out of 17 ideas are obviously attractive based on book value and current profitability.Because of The Van Eck Vectors Junior Gold Miners ETF (GDXJ) ETF b...Read More
By Andr?(C)s Gonz??lezMADRID, Feb 12 (Reuters) - Private equity firm Cerberus has hired advisers for an initial public offering of Haya in May, in a transaction which could value the real estate firm at up 1.1 billion euros ($1.35 billion), sources familiar with the matter said.The planned flotation follows other Spanish real estate IPOs, such as last week's listing of residential developer Metrov...Read More
Stocks are enjoying a much-needed lift after their worst week in years, with the Dow Jones Industrial Average (DJI) starting the week up triple digits, thanks to a rally in tech and financial stocks. Cisco Systems (CSCO) and Apple (AAPL) are leading the Dow, with the former slated to report a earnings later this week. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also exhibiting heal...Read More
* Indexes up: Dow 1.19 pct, S&P 0.99 pct, Nasdaq 1.26 pct* 10-yr Treasury yields at session lows, VIX in narrow range* CSRA jumps after buyout offer from General Dynamics* Cisco, AmEx move higher on Instinet upgrades* Energy stocks gain as crude prices rise nearly 2 pct (Changes comment, adds details, updates prices)By Sruthi ShankarFeb 12 (Reuters) - Wall Street's main indexes rose for a seco...Read More
STOCKHOLM, Feb 12 (Reuters) - Swedish fashion retailer H&M dropped plans to ask shareholders to reinvest their dividend payouts in newly issued shares on Monday, saying the move had proved problematic to carry out.Under the original plan, the retailer was set to make the request to its annual general meeting in May in order to help finance investments in analytics and technology and rekindle g...Read More
LONDON, Feb 12 (Reuters) - The Bank of England's expectation that it will raise interest rates again could be knocked off course by the approach of Brexit and its impact on confidence in Britain, BoE interest-rate setter Ian McCafferty said on Monday."Our decisions are going to be based ... on how the economy evolves. We have a good deal of uncertainty at the moment. So far the economy is hol...Read More
(Adds trade body, lawyer comments)By Huw JonesLONDON, Feb 12 (Reuters) - Some firms using computers to trade at ultra-fast speeds are not applying safeguards required to avert market meltdowns, Britain's Financial Conduct Authority (FCA) said on Monday.Algorithmic or high-frequency trading uses computers to automatically place an order in financial markets, without human intervention, and represe...Read More
By Gertrude Chavez-DreyfussNEW YORK, Feb 12 (Reuters) - U.S. Treasury yields rose across most maturities on Monday, with benchmark 10-year yields hitting a four-year high, benefiting from strong U.S. economic growth prospects and global central banks normalizing years of easy monetary policy.U.S. 10-year yields, which move inversely to prices, have risen in three of the last five sessions. Since a...Read More
NEW YORK, Feb 12 (Reuters) - Credit Suisse's U.S. economists said on Monday they now expect the Federal Reserve to raise key U.S. short-term borrowing costs four times in 2018, one more than their earlier view for three rate hikes, following last week's U.S. budget agreement. "The FOMC has already boosted their growth outlook for 2018 in light of the tax bill passed in December and we anticip...Read More
By Kate DuguidNEW YORK, Feb 12 (Reuters) - The dollar fell against the euro on Monday following its best week against the single currency in nearly 15 months, as U.S. stocks recovered a bit from the dramatic selloff that saw the S&P 500's sharpest decline in more than two years. The selloff across asset classes forced investors betting against the U.S. currency to unwind their positions. The d...Read More
NEW YORK, Feb 12 (Reuters) - The yield on U.S. five-year Treasury Inflation Protected Securities rose to its highest since 2009 on Monday as concerns about inflation and a rising U.S. budget deficit have stoked a bond market selloff.Rising bond yields, with the 10-year Treasury yield hitting a four-year peak near 3 percent, have rattled stock markets around the world last week, slashing about $8 t...Read More
* Investors in wait and see mode on Zuma's fate* Rand volatile, briefly touches one pct* Stocks recover from over-sold levels (Adds stocks, trader comment)JOHANNESBURG, Feb 12 (Reuters) - South Africa's rand briefly traded one percent firmer on Monday after local media reported that President Jacob Zuma had agreed to step down, before surrendering those gains after the presidential spokesman dismi...Read More
* Graphic: World FX rates in 2018 * Graphic: Trade-weighted sterling since Brexit vote (Adds new quote, details, updates prices)By Jemima Kelly and Tommy WilkesLONDON, Feb 12 (Reuters) - Sterling slipped back towards a three-week low against the dollar on Monday, weighed down by uncertainty among investors over whether Britain would succeed in securing a post-Brexit transition period. The pound sk...Read More
WASHINGTON, Feb 12 (Reuters) - For details of the U.S. Treasury's auction of cash management bills on Tuesday, see: (Washington economics newsroom) Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can g...Read More