Feb 6 (Reuters) - St. Louis Federal Reserve President James Bullard on Tuesday said he does not expect big changes in how monetary policy is managed under new Fed Chairman Jerome Powell."I don't see policy changing appreciably," Bullard told a conference in Lexington, Kentucky, adding that Powell would likely take economic data similarly into account as did his predecessors, Ben Bernanke...Read More
Following in the footsteps of fellow automakers General Motors (GM) and Toyota Motor (TM), Tesla Inc (NASDAQ:TSLA) is scheduled to report earnings after the close tomorrow, Feb. 7, and while the stock has a history of big one-day post-earnings swings, volatility expectations are even higher than normal this time around. For example, TSLA shares have averaged a single-session move of 4.7% after ear...Read More
(Recasts, updates prices, adds comment, changes byline, dateline; previous LONDON)By Gertrude Chavez-DreyfussNEW YORK, Feb 6 (Reuters) - Bitcoin recovered from three-month lows below $6,000 in choppy trading on Tuesday, but worries lingered about a global regulatory clampdown and moves by banks to ban buying bitcoin with credit cards.Investors swooped in after a steep fall. On the Luxembourg-base...Read More
PARIS, Feb 6 (Reuters) - French Finance Minister Bruno Le Maire on Tuesday said a global market sell-off was an expected correction of high asset prices. Asked if he was worried as world stock markets nosedived for a fourth day running on Tuesday, Le Maire told reporters:"It's not a surprise. Some assets had reached very high prices and there is therefore a correction on stock markets."&...Read More
By Bruno FederowskiSAO PAULO, Feb 6 (Reuters) - Latin American markets moved little on Tuesday even as world stock markets nosedived for a fourth day, supported by expectations of strengthening global economic growth. Investors have scrambled for the exits after recent data on U.S. wage growth fueled expectations of faster interest rate hikes, driving 10-year U.S. Treasury yields to four-year high...Read More
Chip stocks, Micron Technology, Inc. (NASDAQ:MU) and Cirrus Logic, Inc. (NASDAQ:CRUS) were the target of a flurry of analyst attention this morning, after the Apple suppliers each gave earnings updates. Below, we'll take a closer look at the brokerage notes, and how MU and CRUS stocks are reacting.Micron Stock Upgraded After GuidanceAhead of its March 22 earnings report, Micron Technology raise...Read More
Airline giant United Continental Holdings, Inc. (NYSE:UAL) sold off sharply after its late-January earnings report, as traders reacted negatively to news that UAL plans to increase capacity and continue matching prices with lower-cost carriers. Following this big bear gap, the stock is now trading directly below its 10-month moving average and staring up at the convergence of its 40-day, 200-day,...Read More
By Ritvik CarvalhoLONDON, Feb 6 (Reuters) - A stock market drop triggered last week by a sharp rise in U.S. bond yields has snowballed into a global selloff and wiped $4 trillion off market capitalization worldwide.While the S&P 500 recorded its biggest daily drop in over six years on Monday, the biggest eye-catcher has been the spike in volatility, with Wall Street's "fear gauge" hi...Read More
* President Zuma under pressure to resign* ANC officials to decide Zuma's fate on Wednesday* Stocks tumble to a four-month low (Updates rand, bonds, stocks levels)JOHANNESBURG, Feb 6 (Reuters) - South Africa's rand firmed against the dollar on Tuesday as the market positioned for the possible removal from office of President Jacob Zuma, while share prices hit a four-month low as the global stocks...Read More
MILAN, Feb 6 (Reuters) - Initial interest from investors for Italian railway group Italo suggests an IPO valuation below the 1.9 billion euros offered by Global Infrastructure Partners III (GIP), two sources close to the matter said on Tuesday. GIP has presented an offer to buy 100 percent of Italo, which aimed to sell up to 40 percent of its shares in an IPO later this month. The amount offered b...Read More
* Dollar index increases for third straight session* Greenback brushes off worsening U.S. trade gap* Yen, Swiss franc retreat as Wall Street pares early losses (New throughout, updates exchange rates, market activity, comments; new byline, changes dateline, previous LONDON)By Richard LeongNEW YORK, Feb 6 (Reuters) - The dollar rose on Tuesday to its highest level in more than a week against a bask...Read More
HELSINKI, Feb 6 (Reuters) - Finland sold 3 billion euros ($3.7 billion) in an over-subscribed 2034 benchmark bond on Tuesday as it took advantage of investor demand for high-quality assets in a turbulent market.The bond attracted an order book of about 11.4 billion euros from more than 120 investors, the state treasury said.The debt was priced at 22 basis points below the euro swap curve. It has a...Read More
Feb 6 (Reuters) - The growth of purchasing activity in Canada slowed in January as supplier deliveries slipped, while inventories climbed, according to Ivey Purchasing Managers Index data released on Tuesday.The seasonally adjusted index fell to 55.2 from 60.4 in December, short of analysts' expectations for 61.0. A reading above 50 indicates an increase in activity.The gauge of supplier deliverie...Read More
TUNIS, Feb 6 (Reuters) - Tunisia's annual inflation rate rose to 6.9 percent in January, the highest level in 20 years, up from 6.4 percent in December, the statistics office said on Tuesday.The government raised prices for some goods and imposed new taxes on Jan. 1 as part of austerity measures aimed at reducing the budget deficit. The measures triggered violent protests that lasted for several d...Read More
South32's South African coal assets will be spun off within six months, its president and chief operating officer Mike Fraser said.Fraser said that South32, which was spun out from BHP Billiton in 2015, had received a number of offers for the assets which it up for sale in November last year as part of a shift away from coal."After we made the announcement there was significant interest already fr...Read More
Dow name and tech powerhouse Apple Inc. (NASDAQ:AAPL) has pulled back with the broader market in recent days, but Cowen analyst David Seaburg said yesterday that you shouldn't count Apple out just yet, telling CNBC the stock is a "no-brainer." Of course, this comes after the company last week reported fiscal first-quarter earnings. Meanwhile, AAPL shares are bouncing back today, last seen up 2.1%...Read More
Mr. Quinton Hennigh reportsNOVO SECURES TEST PLANT FOR PROCESSING BULK SAMPLES Novo Resources Corp. has entered into a commercial arrangement with SGS Minerals of Perth, Western Australia, to secure access to a test plant for the processing of five-tonne bulk samples from its Karratha gold project. SGS is a leading service provider to the global mining and minerals industry. The company's previous...Read More
TORONTO, Feb 6 (Reuters) - Canada's main stock index fell to a five-month low on Tuesday, pressured by a drop in financial and materials stocks as a selloff in global markets weighed on investor sentiment, while domestic data showed a wider-than-expected trade deficit.At 9:51am EST (1451 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 87.35 points, or 0.57 percent, at 15,24...Read More
Gold demand rallied in the closing months of 2017, gaining 6% year-on-year in Q4 to reach 1,095.8 tonnes (t). However, overall demand for the full year fell by 7% to 4,071.7t, compared with 2016, according to the World Gold Council's latest Gold Demand Trends report.Inflows into exchange-traded funds (ETFs) continued steadily throughout the year, totalling 202.8t, but lagged behind the exceptional...Read More
(Adds details)MEXICO CITY, Feb 6 (Reuters) - Mexico's consumer confidence index dipped to 85.9 in January when adjusted for seasonal factors, falling 3.1 percent from the previous month, the national statistics agency said on Tuesday.Despite the month-on-month drop, consumer confidence was up 23 percent from January 2017, when the inauguration of U.S. President Donald Trump sparked widespread conc...Read More