BENGALURU/MUMBAI, Jan 26 (Reuters) - Demand for physical gold improved slightly in most Asian hubs this week, despite rising prices, as buyers stocked up on expectations of a further rally in the yellow metal.Gold prices rose on Friday, putting them on course for a near 2 percent weekly gain, in anticipation of a further dip in the U.S. dollar.Demand in India, the world's second-largest consumer o...Read More
(Kitco News) - Participants in the weekly Kitco News gold survey look for gold tokeep rising next week, with traders and analysts citing the softer tone in theU.S. dollar. Wall Street Bullish Bearish Neutral VSMain Street Bullish Bearish Neutral The greenback fell sharply this week after U.S. Treasury SecretarySteven Mnuchin said a softer U.S. dollar was good for the economy...Read More
(Adds stocks, quote, updates levels)JOHANNESBURG, Jan 26 (Reuters) - The rand traded firmer on Friday, holding at its best levels since mid-2015, as sentiment was lifted by a weaker dollar and expectations that the new leader of the ruling ANC would rejuvenate the economy.At 1545 GMT, the rand was 0.44 percent stronger than Thursday's close at 11.8700 to the dollar , after breaking below the psyc...Read More
* U.S. economic growth slows in Q4 on surging imports* Yen up on BoJ's Kuroda comments on economy, inflation (Updates prices and market activity to U.S. market open, changes dateline; previous LONDON)By Saqib Iqbal AhmedNEW YORK, Jan 26 (Reuters) - The dollar remained weak against a basket of currencies on Friday, bruised by comments by senior U.S. officials this week backing a weak dollar and aft...Read More
• Renewed USD selling helps regain positive momentum. • Reviving safe-haven demand further supports the up-move. • Important US macro data eyed for fresh directional impetus. Gold held on to its modest gains through the mid-European session and is currently trading around the $1355 region ahead of the US macro data. A fresh wave...Read More
JD.com Inc (NASDAQ:JD) is buzzing this morning, after Bloomberg reported the Chinese e-tailer was preparing for its long-awaited foray onto U.S. soil later this year. The company is hoping to establish itself on the West Coast, and start online sales by the second half of 2018. JD.com is hoping to gain ground on Chinese rival Alibaba (BABA) and American e-commerce monster Amazon.com (AMZN). Again...Read More
By Jonathan SchwarzbergNEW YORK, Jan 26 (Reuters) - The US leveraged loan market has opened with a bang, allowing junk-rated companies such as food packaging company Crown Holdings to reduce pricing further amid strong demand for floating rate assets. Ba2/BB rated Crown Holdings had an investor count of more than 250 for its US$2.08bn cross-border loan, sources said, allowing it to cut pricing to...Read More
Transport stocks have taken a hit this week, following some lackluster airline earnings. As such, the Dow Jones Transportation Average (DJT) is pacing for a weekly loss of more than 2%. Considering the Dow Jones Industrial Average (DJI) is headed for a weekly win, some Dow Theory followers could be getting nervous at the divergence. Below, we take a look at how the transports and blue-chip indexes...Read More
Shares of Nike Inc (NYSE:NKE) earlier matched yesterday's all-time high of $68.64, and at last check, the Dow component was up 1% at $68.36. The move comes after infamous investor Bill Ackman said his hedge fund Pershing Square has taken a passive position in Nike stock that has already netted a 30% return. This is just more positive momentum for NKE, which sports a year-to-date advance of 9.2% an...Read More
Jan 26 (Reuters) - The Baltic Exchange's main sea freight index , which tracks rates for ships carrying dry bulk commodities, on Friday marked its first weekly gain in three as rates for capesize and panamax vessels improved.* The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 2 points, or 0.16 percent, at 1,219 points. It rose 8.4 perc...Read More
* Zloty and forint ease as Trump talks up dollar* Hungary yield curve steepens, central bank seen countering that* Czechs start presidential election, markets ignore it* Czech crown hits 5-year high, rate hike is expected (Adds crown surge to new five-year high)By Sandor PetoBUDAPEST, Jan 26 (Reuters) - The Czech crown hit a five-year high against the euro on Friday, bolstered by expectations of a...Read More
Shares of coffee chain Starbucks Corporation (NASDAQ:SBUX) are trading lower in early market action, after the company reported lower-than-expected fiscal first-quarter earnings. It also gave a tepid outlook for 2018, while executives added they're still evaluating how the tax law will affect the business. At last check, Starbucks stock was trading down 4.7% at $57.72, after receiving a slew of mi...Read More
* Q4 advance GDP estimate 2.6 pct vs est. 3 pct growth* Intel jumps after upbeat earnings, bullish forecast* Starbucks falls after sales forecast* Indexes up: Dow 0.17 pct, S&P 0.31 pct, Nasdaq 0.42 pct (Updates to open)By Sruthi ShankarJan 26 (Reuters) - The Dow Jones Industrial Average opened at a record high on Friday, powered by gains in chipmaker Intel, and the other main indexes were hig...Read More
MILAN, Jan 26 (Reuters) - Veteran Italian banker and former Industry Minister Corrado Passera has raised 600 million euros ($746 million) from investors with the aim of acquiring a small bank, a source with knowledge of the matter said.Passera, former chief executive of Intesa Sanpaolo for nearly a decade, raised the funds by launching a special purpose acquisition (SPAC) vehicle, a company that w...Read More
DAVOS, Switzerland, Jan 26 (Reuters) - Bank of England Governor Mark Carney said on Friday that markets are likely to be affected when central banks around the world raise interest rates, but that reforms to the financial system meant there would be limited impact on the real economy."What's the probability that there will be an adjustment in asset prices? Yup, that probability has gone up,&q...Read More
TORONTO, Jan 26 (Reuters) - Canada's main stock index fell on Friday as financial shares slipped, offsetting gains for gold stocks as gold prices rose.The Toronto Stock Exchange's S&P/TSX composite index fell 15.55 points, or 0.1 percent, to 16,188.46, shortly after the open. Six of the index's 10 main groups were lower. (Reporting by Fergal Smith Editing by Chizu Nomiyama) Disclaimer: The vi...Read More
Like mostAmerican males, I enjoy NFL Playoff football and have been an avid New EnglandPatriots fan since I was a kid. Weather you love them or hate them, they haveprovided a very well-played AFC Championship game the past seven consecutiveseasons. Unfortunately for mining junkies such as myself, the game is alwaysplayed on the first day of the Vancouver Resource Investment Conference (VRIC),so I...Read More
Jan 26 (Reuters) - Wall Street's main indexes opened higher on Friday as gains in Intel and AbbVie following strong earnings and a slide in dollar helped investors look past weaker-than-expected U.S. economic growth data.The Dow Jones Industrial Average rose 52.02 points, or 0.2 percent, to 26,444.81. The S&P 500 gained 8.3 points, or 0.29 percent, to 2,847.55. The Nasdaq Composite added 33.94...Read More
Gold and silver are likely to draw buying on any pullbacks, says SeanLusk, director of commercial hedging with Walsh Trading. The metals are in factlower on profit-taking Friday, Lusk says. Previously, they ran up sharply thisweek on U.S. dollar weakness. “I think the uptrend continues into month end,”he says. He later adds, “These dips are going to provide a buying opportunityas...Read More
Stock futures are pointed higher this morning, setting the major market indexes up to secure their fourth straight weekly win. Intel (INTC) stock is lifting Dow Jones Industrial Average (DJI) futures, thanks to a well-received earnings report. Investors are also digesting the advance reading on fourth-quarter gross domestic product (GDP), which showed economic growth of 2.6% -- smaller than the 3%...Read More