WASHINGTON, Jan 25 (Reuters) - For details of the U.S. Treasury's auctions of 13-week, 26-week and 52-week bills next week, see:13-week bills 26-week bills 52-week bills (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; h...Read More
By Anna IrreraNEW YORK, Jan 25 (Reuters) - Online brokerage startup Robinhood plans to launch commission-free cryptocurrency trading, the company said on Thursday, riding a wave of interest from retail investors for the new asset class.Starting in February, Robinhood customers will be able to buy bitcoin and ether, the two most popular virtual coins. The Palo-Alto based startup plans to add more c...Read More
* ECB's Draghi says euro zone inflation to rise in medium term* German bond yields climb, Treasuries follow* Treasury to auction 7-year notes (Adds comment, U.S. data, byline, table; updates prices in text)By Gertrude Chavez-DreyfussNEW YORK, Jan 25 (Reuters) - U.S. Treasury debt yields for most maturities rose from earlier lows on Thursday in line with gains in those of euro zone bonds after Euro...Read More
(Adds details throughout on sectors and stocks; updates prices)* TSX falls 23.85 points, or 0.15 percent, to 16,260.36* Eight of the index's 10 main groups decline* Magna International falls 1.4 percent* Celestica declines 4.6 percent, Valeant down 4.7 percent TORONTO, Jan 25 (Reuters) - Canada's main stock index fell on Thursday as Magna International Inc and Valeant Pharmaceuticals Internation...Read More
Tech powerhouse Amazon.com, Inc. (NASDAQ:AMZN) is continuing its long-term trend higher, after receiving a price-target hike fromD.A. Davidson. Specifically, while maintaining its "buy" rating, the brokerage firm raised its price target to $1,800 from $1,500 -- the most bullish target ever set for the FAANG stock -- citing expectations of strong results from the company's cloud computing, andprofi...Read More
The U.S. dollar has been hammered recently, and yesterday fell to a three-year low against a basket of foreign rivals, after Treasury Secretary Steve Mnuchin waxed optimistic on a weaker greenback. Against this backdrop, the PowerShares DB US Dollar Index Bullish Fund (UUP) is pacing for a seventh straight weekly loss -- something that's happened just one other time in history -- and option bears...Read More
Corporate earnings have been a big reason the U.S. stock market has been able to notch one record high after another in 2018, and the impressive quarterly updates show no sign of slowing down. Two of the most recent winners are healthcare stocks Varian Medical Systems, Inc. (NYSE:VAR) and Abbott Laboratories (NYSE:ABT). Shares of VAR are trading at record levels following the company's well-receiv...Read More
The latest round of corporate earnings reports has sparked a risk-on session on Wall Street, with the major market indexes carving out new record highs. Among specific names rising on positive earnings reactions are mining stocks Cleveland-Cliffs Inc (NYSE:CLF) and Freeport-McMoRan Inc (NYSE:FCX). Here's a closer look at how shares of CLF and FCX are trading today.Cleveland-Cliffs Stock Rallies Pa...Read More
(Kitco News) - Gold prices have lost their modest early gains inlate-morning trading action Thursday. Some normal profit-taking from theshorter-term futures traders is featured following the sharp gains Wednesdaythat pushed gold prices to a 4.5-month high. February gold was last down $1.00at $1,355.00. By Jim Wyckoff For Kitco NewsFollow @jimwyckoffjwyckoff@kitco.comwww.kitco.com Disclaimer: The v...Read More
(Adds background, details)MOSCOW, Jan 25 (Reuters) - Real wages in Russia rose less than expected in December and industrial output continued to fall, data showed on Thursday, putting pressure on the economy and living standards ahead of a presidential election in March.Russia's oil-dependent economy began a fragile recovery in 2017 after two years of recession, triggered by a sharp drop in global...Read More
(Kitco News)- Technical profit taking is weighing on gold prices, as themarket ignores a more than 9% drop in new home sales.Tuesday,the U.S. Commerce Department said that new home sales fell 9.3% in December,to a seasonally adjusted annualized rate of 625,000 homes, down from November'srevised rate of 689,000 units. According to consensus forecasts,economists were expecting to see a sa...Read More
NEW YORK, Jan 25 (Reuters) - U.S. 30-year mortgage rates rose to a 10-month peak this week in line with rising Treasury yields on expectations faster global economic growth and speculation of reduced stimulus from overseas central banks, Freddie Mac said on Thursday.The borrowing cost on 30-year mortgages, the most widely held type of U.S. home loan, averaged 4.15 percent in the week ended on Jan....Read More
(Kitco News) - Thethreat of a “currency war” may provide fuel for gold to continue its rally,Commerzbank analysts said Thursday.Thedollar has significantly weakened since U.S. Treasury Secretary Steven Mnuchincommented at the World Economic Forum in Davos Wednesday that a weaker dollarwould be “good” for the U.S. Previously, since the Clinton presidency, U.S.administrations...Read More
Jan 25 (Reuters) - The Baltic Exchange's main sea freight index , which tracks rates for ships carrying dry bulk commodities, rose on Thursday on higher rates for capesizes and panamax vessels.* The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 17 points, or 1.42 percent, at 1,217 points.* The capesize index gained 76 points, or 4.53 p...Read More
(Kitco News)- The gold market haspared earlier gains but remains not far from its highest level in 1 1/2 years as the euro strengthensagainst the U.S. dollar following comments from European Central Bank PresidentMario Draghi.While the ECBremains committed to its accommodative monetary policy, the euro posted stronggains against the U.S. dollar after Draghi said that Europe will notparticipate...Read More
(Kitco News) - Kitco aficionados, it isnow time to have your say in where you think gold prices are heading in theshort-term.Will gold prices go higher, lower or remain unchanged nextweek? Kitco readers will have until 9 a.m. EDT, Friday to cast their vote. The results will be tabulated and released after noon (12PM EDT) along with the results fromour market professional survey.Readers can also se...Read More
SINGAPORE, Jan 25 (Reuters) - China State Shipbuilding Corporation's listed units CSSC Holdings and CSSC Offshore & Marineplan to bring in major investors to inject about 10.2 billion yuan ($1.6 billion) of capital into four shipyards.China's shipyards have been suffering from a prolonged downturn in the shipping industry and both companies said the planned capital increases were part of the g...Read More
For the second time in as many weeks, Kroger Co (NYSE:KR) is caught up in e-commerce buzz. Specifically, reports have surfaced that the grocer conducted early-stage business talks with Chinese e-commerce giant Alibaba (BABA). It is unclear whether the reported talks will amount to an actual partnership, but they could represent a continued effort to counter Amazon.com (AMZN) and its foray into the...Read More
CARACAS, Jan 25 (Reuters) - Venezuela will hold its new DICOM currency exchange auctions in euros, the central bank said on Thursday, as the socialist government seeks to move away from transactions in U.S. dollars.President Nicolas Maduro's government, which is called a "dictatorship" by Washington and faces some U.S. financial sanctions, has also begun pricing its oil barrel in yen.The...Read More
Mr. Matthew Hornor reports MAPLE GOLD PROVIDES STATUS ON EXPECTED TIMING FOR UPDATED RESOURCE ESTIMATEMaple Gold Mines Ltd. has provided an update on timing for its next resource estimate update. The company's last National Instrument 43-101 inferred mineral resource estimate (2.8 million ounces at 1.05 grams per tonne goldusing a 0.5 g/t cut-off grade) was filed on April 11, 2017 (Micon 2017). Th...Read More