Jason Burack of Wall St for Main St interviewed returning guest, successful small-cap stock and cryptocurrency investor, entrepreneur and creator of the Gold Stock Bull Investment Newsletter that covers precious metals and cryptocurrencies, Jason Hamlin.Jason has a successful track record of beating the odds and has had routinely good years investing in small cap stocks despite commodities being i...Read More
We asked you earlier today to pay attention. We hope you didThis broken bull flag is bad...This non confirmation weekly close is worse.. While it may seem like Armageddon, and Gold May in fact be at the beginning of a precipitous drop, that isn't a complete given though the cash market did trade there. We actually did not settle under $1330 Further, Gold is suffering as an ebb tide sinks all boa...Read More
* Wells Fargo shares fall on unprecedented Fed action* Fed move follows persistent compliance problem at the bank (Adds details from conference call and prior regulatory matters, updates share price details)By Pete Schroeder and Lauren Tara LaCapraWASHINGTON/NEW YORK, Feb 2 (Reuters) - Wells Fargo & Co detailed new regulatory restrictions imposed by the U.S. Federal Reserve on Friday that sent...Read More
CloseGain/LossOn WeekGold $1331.80-$18.20-1.32%Silver$16.60-$0.64-4.65%XAU83.88-4.25%-7.12%HUI188.03-4.41%-7.54%GDM642.62-2.88%-5.89%JSE Gold1228.89-15.95-6.41%USD89.16+0.57+0.07%Euro124.59-0.60+0.28%Yen90.85-0.59-1.22%Oil$65.45-$0.35-1.45%10-Year2.838%+0.059+6.73%Bond145.00-1.5625-2.58%Dow25520.96-2.54%-4.12%Nasdaq7240.95-1.96%-3.53%S&P2762.13-2.12%-3.85% The Metals: Gold fell $22.50 to a...Read More
Gold COT Report - FuturesLarge SpeculatorsCommercialTotalLongShortSpreadingLongShortLongShort298,32791,06557,648154,690379,766510,665528,479Change from Prior Reporting Period -7,485-63-6,875-6,768-16,244-21,128-23,182Traders18286734556262185 Small Speculators LongShortOpen Interest 48,66730,853559,332 -1,96193-23,089 non reportable positionsChange from the previous repor...Read More
- CFTC fines UBS, HSBC and Deutsche Bank millions of dollars each for gold price manipulation - Deutsche Bank 'engaged in a scheme to manipulate the price of precious metals futures contracts'- UBS 'attempted to manipulate the price of precious metals futures contracts'- HSBC engaged 'in numerous acts of spoofing with respect to certain futures products in gold and other precious metals'- Gol...Read More
Gold rose on the back of rising bond yields and negative news on crypto currency news. After today's US January nonfarm payrolls it will be a technical trade with Chinese demand and bond yields as the key. Today and Monday are big days for gold and silver. I expect $50 either side moves in gold from the current price of $1347.90. Silver on the other hand needs a daily close over $1740 today and...Read More
* Wells Fargo shares fall on unprecedented Fed action* Fed move follows persistent compliance problem at the bank (Adds comments, context, share price)By Pete SchroederWASHINGTON, Feb 2 (Reuters) - The Federal Reserve ordered Wells Fargo on Friday to halt its growth until it fixes systemic compliance problems that led to consumer abuses, in an unprecedented move that saw the lender's shares fell s...Read More
Feb 3 (Reuters) - For other diaries, please see:Top Economic Events Polling Unit Diary Today in Washington Political and General News DATE COUNTRY AUCTION DETAILS 5-FebNetherlands DTC auction 5-FebFranceAuction of BTF Treasury notes 6-FebUnited States Sale of 3-year notes 6-FebBelgium Auction of Treasury bills 7-FebGermany Auction of 10-year Federal bonds 7-FebUnited States Sale of 10-year notes...Read More
Feb 3 (Reuters) - For other diaries, please see:Top Economic Events Government Debt Auctions Political and General News Events Index of All Diaries Guide to Economic Indicators -----------------------------------------------------------This Diary is filed daily.-----------------------------------------------------------MONDAY, FEBRUARY 5SINGAPORE - ASEAN Finance and Central Bank Working Group Meet...Read More
Feb 2 (Reuters) - Outgoing Federal Reserve Bank Chair Janet Yellen said on Friday that solid economic growth, faster wage increases, and a tightening labor market mean the U.S. central bank is likely to need to continue to raise interest rates gradually, as it has signaled it will."The economy is growing at a healthy, solid pace," Yellen said in an interview with PBS NewsHour on the last...Read More
WASHINGTON, Feb 2 (Reuters) - The Federal Reserve ordered Wells Fargo on Friday to halt its growth, citing "widespread consumer abuses and other compliance breakdowns" at the bank.The Federal Reserve Board said in a statement that it "would restrict the growth of the firm until it sufficiently improves its governance and controls. Concurrently with the Board's action, Wells Fargo wi...Read More
(Updates prices, adds news from Mexico and Argentina)By Bruno FederowskiSAO PAULO, Feb 2 (Reuters) - Latin American markets retreated on Friday after data showing U.S. job growth surged in January and wages increased, lifting expectations of faster U.S. interest rate hikes, which could dampen demand for risky emerging market assets.The robust employment report bolstered expectations of price press...Read More
(Updates with closing prices)By Luc CohenBUENOS AIRES, Feb 2 (Reuters) - Argentina power generation company Central Puerto SA's shares plunged on the Buenos Aires stock exchange on Friday as the weaker-than-expected debut price of its U.S.-listed stock took some air out of a two-year long rally.The underwhelming debut came a day after airport operator Corporacion America Airports also priced its...Read More
(Adds comments from Kaplan, additional comments from Williams)By Ann SaphirSAN FRANCISCO, Feb 2 (Reuters) - A pickup in wage growth and inflation are signs of a healthy economy and at this point are not enough to force the U.S. Federal Reserve to raise rates much more this year than the three times it has been signaling, a top policymaker said on Friday. Faster economic growth, buoyed by strong f...Read More
US Equities In A Virtual Meltdown, Bonds & Dollar Higher, Gold Dramatically LowerAt its low today the Dow Jones Industrial Average was trading off by 642 points, and as of this writing at 3:15 PM Eastern standard time the Dow is off by a little over 550 points which is a net decline of 2.11% on the day. In fact, all of the major US indices are trading dramatically lower with the Standard & Poor's...Read More
(Adds details on week's drop in stocks)By Caroline ValetkevitchNEW YORK, Feb 2 (Reuters) - Wall Street's main stock indexes suffered their worst week in two years as bond yields soared and renewed fears of inflation gripped investors. But amid the selloff, corporate earnings forecasts keep improving.Forecasts for earnings, one of the fundamental factors that drives stock prices, are rising fast a...Read More
* TSX down 254.89 points, or 1.61 percent, at 15,606.03* All of the TSX's 10 main groups were trading lower (Updates share prices)TORONTO, Feb 2 (Reuters) - Canada's main stock index slumped to a four-month low on Friday, with natural resource shares leading broad based declines as commodity prices dropped and higher bond yields pressured global equity markets.U.S. crude prices were down 1.1 perce...Read More
(Adds close of U.S. markets)* Robust U.S. labor market report boosts dollar, bond yields* Both Dow, S&P 500 post worst week since January 2016* Disappointing earnings also push stocks lower* Oil eases on strong dollar, gold prices fall By Herbert LashNEW YORK, Feb 2 (Reuters) - Stock markets plunged and bond yields soared on Friday after U.S. data showing the strongest annual wage growth sin...Read More
The U.S. stock market suffered a major pullback today, as this morning's nonfarm payrolls report, which topped expectations, suggested another rate hike is on the way when the Fed meets next month -- though San Francisco Fed President John Williams said the central bank shouldn't have a "knee-jerk reaction" to strong economic data. Nevertheless, the Dow shed more than 650 points -- as Apple (AAPL)...Read More