NEW YORK, Feb 22 (Reuters) - The Dow and S&P 500 advanced on Thursday to halt a two-session losing skid, buoyed by gains in industrial and energy shares as U.S. Treasury yields eased, while the Nasdaq lost ground for a third straight session.The Dow Jones Industrial Average rose 164.7 points, or 0.66 percent, to 24,962.48, the S&P 500 gained 2.63 points, or 0.10 percent, to 2,703.96, and t...Read More
(Recasts first paragraph; adds background, byline, graphic)By Richard LeongNEW YORK, Feb 22 (Reuters) - The U.S. bond market held up against a $258 billion deluge of Treasury debt supply, the second largest weekly amount ever, as the government sought to raise more cash to fund an expected jump in its budget deficit.The hole in the federal budget is projected to grow due to last year's major tax...Read More
* Dollar Index retreats after hitting 10-day high* Yen rises on safe haven demand (Updates prices, market activity; adds comments, graphic)By Saqib Iqbal AhmedNEW YORK, Feb 22 (Reuters) - The dollar fell against a basket of major currencies on Thursday, as its rally from a three-year low last week ran out of steam, and the yen soared against the greenback as heightened volatility led investors to...Read More
Oil concern Cabot Oil & Gas Corporation (NYSE:COG) is set to report fourth-quarter earnings before the market opens tomorrow. The stock came into the year trading near its Nov. 30 two-year high of $29.57, but has since shed 15.9%, and dropped below the long-term support of its 200-day moving average. Today, COG is 3.5% higherat $24.04 -- amid a positive earnings reaction for Chesapeake Energy (CH...Read More
RABAT, Feb 22 (Reuters) - - Morocco's annual inflation rate was 1.8 percent in January, the High Planning Commission said on Thursday.It did not give a comparable figure for the previous month in a statement.Annual food price inflation was 2.2 percent in January, while non-food inflation was 1.3 percent over the 12 months, the data showed. (Reporting by Zakia Abdennebi and Ulf Laessing; Editing by...Read More
(Kitco News)- Don't expect uncertainty in the gold market to go away anytime soon as analysts see potential for upswings and downswings while prices continue to hover in the middle of a short-term trading channel.In a note to clients, Ole Hansen, head of commodity strategy at Saxo Bank, said that risks are growing in the gold market and prices could see a prolonged correction, falling to key suppo...Read More
A composite measure of leading economic indicators was expected to rise in January. The index measures 10 key metrics, such as stock prices, unemployment insurance claims and building permits. It would be the 12th time the measure increased in the last 13 months. Kevin Breuninger| @KevinWilliamB Published 10 Hours AgoUpdated9 Hours AgoCNBC.com Kamil Krzaczynski | ReutersA shopper makes a purc...Read More
Shares of Gap Inc (NYSE:GPS) pulled back after hitting a two-year high of $35.66 on Jan. 23, but found a floor near $31 -- home to its rising 80-day moving average. If history is any guide, it could be time to join GPS on its next leg higher, as data shows a retreat to this trendline has had bullish implications for the stock.According to Schaeffer's Senior Quantitative Analyst Rocky White, there...Read More
(Notes mass power outage in line about satellite images)By Jonathan SpicerNEW YORK, Feb 22 (Reuters) - Puerto Rico should "start from scratch" rebuilding its already outdated power infrastructure after deadly Hurricane Maria last year devastated it and left citizens marooned, the U.S. central banker overseeing the island territory said on Thursday.New York Fed President William Dudley d...Read More
It's been a volatile month for U.S. stocks so far, with the S&P 500 Index (SPX) enjoying both its worst and best weeks in more than a year -- sending up a rare stock market signal we haven't seen since 2001. Echoing that, after dropping yesterday on concerns about Federal Reserve rate hikes, the major U.S. indexes are back in the black today. Outside of the U.S., though, a handful of foreign excha...Read More
(Recasts with auction result, adds quote, updates prices)* Treasury sells $29 bln seven-year notes to tepid demand* Fed minutes show higher confidence in raising rates By Karen BrettellNEW YORK, Feb 22 (Reuters) - U.S. Treasuries pared price gains on Thursday after the U.S. government sold new seven-year notes to slightly soft demand, the final sale of $258 billion in debt this week.The debt sold...Read More
Gold futures ended slightly higher on Thursday as softness in the U.S. dollar and a slight pullback in bond yields helped to nudge the precious metal slightly higher. April gold GCJ8, -0.17% rose 60 cents, or less than 0.1%, to $1,332.70 an ounce, and March silver SIH8, -0.58% lost 3 cents, or 0.2%, to $16.587 an ounce. The silver-focused exchange-traded iShares Silver Trust SLV, -0.45% rose 0.7%...Read More
Leisure stock ILG Inc (NASDAQ:ILG) is trading 0.8% higher today at $32.56, putting it just below Tuesday's record high of $32.75. The shares have already added over 14% in 2018 and the company just announced it's raising its quarterly dividend by almost 17%. Looking ahead, ILG is scheduled to report earnings after the close next Wednesday, Feb. 28, and options traders have been scooping up calls a...Read More
Headlining another busy week is new Fed Chair Jerome Powell's first appearance before Congress. In addition, fellow central bankers James Bullard and William Dudley are slated to speak throughout the week. Another slew of earnings is also expected, withValeant Pharmaceuticals (VRX) leading a list of drugmakers set to report, and retailers including J. C. Penney (JCP), Foot Locker (FL), and Macy's...Read More
(Adds interest in blockchain trial, comments from CEO interview)By Susan TaylorTORONTO, Feb 22 (Reuters) - Newmont Mining Corp laid out plans on Thursday for new projects to grow gold production and cut costs, while reporting market-beating profits and output forecasts that position it to take the title of world's largest bullion producer in 2018.Newmont, whose 2017 production slightly lagged ind...Read More
TORONTO, Feb 22 (Reuters) - Barrick Gold , the world's largest producer of bullion, has yet to deliver on the "conundrum" of growth, but it will not make an acquisition simply to bulk up, Chairman John Thornton said an investor update on Thursday.Barrick, which Thornton said had examined and passed on a range of deal opportunities in 2017, is forecasting annual production of more than 4...Read More
• A modest USD retracement prompts short-covering move. • Sliding US bond yields lending some additional support. • Reviving safe-haven demand supportive of the up-move. Gold jumped to fresh session tops during the early NA session and snapped four consecutive days of losing streak. With markets looking past Wednesday's hawk...Read More
* Gold rangebound, down 1.2 pct week to date* Dollar retreats from highest in more than a week* GRAPHIC-2018 asset returns: (New throughout, updates prices, market activity and comments; adds second byline and NEW YORK dateline)By Renita D. Young, Zandi Shabalala and Jan HarveyNEW YORK/LONDON, Feb 22 (Reuters) - Gold rose on Thursday, snapping four sessions of losses as the U.S. dollar surrendered...Read More
DUBLIN, Feb 22 (Reuters) - Ireland's aircraft leasing company Avolon has added an extra layer of protection for bondholders in a bid to dispel concerns about the risk of it being stripped for cash by China's HNA Group, ratings agency Fitch said on Thursday.Avolon has come under scrutiny over its links to HNA and credit ratings analysts have been pressing for tougher safeguards against it being for...Read More
* Bond yields ease from Wednesday's peak* Energy leads gainers on S&P* United Tech up 3.7 pct on breakup plans* Indexes up: Dow 1.12 pct, S&P 0.85 pct, Nasdaq 0.57 pct (Updates to early afternoon)By Sruthi ShankarFeb 22 (Reuters) - Gains in industrial and technology shares helped U.S. stocks rebound from a two-day fall on Thursday as investors shrugged off the prospects of more interest ra...Read More