WASHINGTON (Reuters) - U.S. President Donald Trump said on Wednesday that his long-awaited plan to help rebuild the nation’s infrastructure will result in about $1.7 trillion in overall investment over the next 10 years, a larger figure than he has previously announced.The plan, which will be detailed in part at next week’s State of the Union address, “will actually probably end...Read More
Richard LeongNEW YORK (Reuters) - A dollar rout intensified on Wednesday after U.S. Treasury Secretary Steven Mnuchin said a lower greenback was “good for us” - though a weaker U.S. currency may not prove a long-term economic boost.It was a highly unusual remark for a Treasury secretary, as it is seen as a break from previous White House administrations’ public stance for a stron...Read More
WASHINGTON, Jan 24 (Reuters) - The dollar hit fresh lows on Wednesday after U.S. Treasury Secretary Steven Mnuchin said he welcomed a weakening of the U.S. currency, which some investors interpreted as a departure from traditional U.S. policy."Obviously a weaker dollar is good for us as it related to trade and opportunities," Mnuchin told the World Economic Forum in Davos a day before a...Read More
* S&P 500 ends down; mood cools after Ross comments on China* U.S. Treasury prices fall after Mnuchin endorses weak dollar* Dollar dented by Mnuchin comments, slips vs major peers (Updates with closing U.S. market levels)By Caroline ValetkevitchNEW YORK, Jan 24 (Reuters) - The U.S. dollar extended its recent rout to hit three-year lowsand gold rose to its highest level in 1-1/2 years on Wednes...Read More
DETROIT (Reuters) - Ford Motor Co (F.N) on Wednesday posted a lower-than-expected quarterly net profit, hurt by rising commodity costs and unfavorable currency exchange rates, and said it expects more pain to come from higher raw material prices in 2018.Ford has been alone among the major automakers in warning that higher prices for metals like aluminum and steel will take a bite out of earnings,...Read More
The largest exchange-traded fund to track gold has seen heavy adoption thus far in 2018, with massive inflows amid a rally in the precious metal's price, as well as interest from investors looking to hedge their portfolios. The SPDR Gold Shares GLD, +0.08% fund has had inflows of $873.6 million over the past week, according to FactSet data. That's the fourth-highest inflows of any U.S. listed ETF...Read More
(Adds details on Novagold Resources, updates prices to close)* TSX closes down 73.34 points, or 0.45 percent, at 16,284.21* Eight of the index's 10 main groups fall* Financials fall 0.6 percent* Valeant slumps 11.6 percent TORONTO, Jan 24 (Reuters) - Canada's main stock index fell on Wednesday, weighed by declines for financial shares, Valeant Pharmaceuticals International Inc and Canadian Natio...Read More
WELLINGTON, Jan 25 (Reuters) - New Zealand's consumer price index (CPI) rose 0.1 percent in the fourth quarter, falling short of expectations, Statistics New Zealand data showed on Thursday.Annual growth was at 1.6 percent, well below the 1.9 percent forecast by economists, who had predicted a 0.4 percent quarterly rise.The New Zealand dollar sunk to $0.7345 from $0.7432 before the release.(Report...Read More
Jan 25 (Reuters) - Australian shares are expected to open lower on Thursday, taking their cues from Wall Street, where stocks faltered after comments by U.S. Commerce Secretary Wilbur Ross hinted at action against China in a trade war.Nasdaq Composite lost ground after the comments by Ross .Material stocks are expected to weigh on the main index, following iron ore futures in China, which fell ove...Read More
Despite all three major indexes reaching record intraday highs, the S&P and Nasdaq reversed early gains, finishing the day lower as comments from Commerce Secretary Wilbur Ross fueled concerns about a trade war. A pullback in tech stocks also weighed on the indexes. However, a big lift from financial stocks JPMorgan Chase (JPM) and Goldman Sachs (GS) kept the Dow afloat, with banks moving higher...Read More
Mr. Brett Heath reportsMETALLA REPORTS FINANCIAL RESULTS FOR THE SECOND QUARTER OF FISCAL 2018 Metalla Royalty and Streaming Ltd. has released its financial results for the second quarter of 2018. For complete details of the financial statements and accompanying management's discussion and analysis for the six months ended Nov. 30, 2017, please see the company's filings on SEDAR or the company's w...Read More
WARSAW, Jan 24 (Reuters) - Poland's economy probably grew by around 4.5 percent in 2017, Prime Minister Mateusz Morawiecki told state broadcaster TVP Info on Wednesday.* "(GDP growth) in the fourth quarter was close to 5 percent and in the whole of the (2017) year it was probably around 4.5 percent," Morawiecki said.* Poland had projected GDP growth in 2017 of 3.6 percent in its budget.*...Read More
TORONTO, Jan 24 (Reuters) - Canada's main stock fell on Wednesday, weighed by declines for financial shares, Valeant Pharmaceuticals International Inc and Canadian National Railway Co , while gold mining stocks were boosted by higher gold prices.The Toronto Stock Exchange's S&P/TSX composite index unofficially closed down 73.34 points, or 0.45 percent, at 16,284.21. Eight of the index's 10 mai...Read More
* Mnuchin says weak dollar is good for U.S. trade* Dollar index hits fresh 3-year low (Updates prices, market activity, adds comment)By Saqib Iqbal Ahmed and Stephanie KellyNEW YORK, Jan 24 (Reuters) - The dollar slumped to a fresh three-year low against a basket of major currencies on Wednesday after the U.S. Treasury secretary said he welcomed a weaker greenback, and as investors worried about U...Read More
NEW YORK, Jan 24 (Reuters) - The S&P 500 was flat on Wednesday while the Nasdaq lost ground in choppy trading in the wake of comments by U.S. Commerce Secretary Wilbur Ross which hinted at action against China in a trade war. The Dow Jones Industrial Average rose 41.38 points, or 0.16 percent, to 26,252.19, the S&P 500 lost 1.55 points, or 0.05 percent, to 2,837.58 and the Nasdaq Composite...Read More
Mark BendeichDAVOS, Switzerland (Reuters) - The United States is not starting a trade war but trying to level the playing field of global commerce and fend off Chinese protectionism, including a “direct threat” in high-tech goods, U.S. Commerce Secretary Wilbur Ross said on Wednesday.Ross was speaking a day after Washington imposed steep import tariffs on washing machines and solar pan...Read More
Gold may be considered to be a bet against the U.S. dollar. The depreciation of the greenback supported the yellow metal in 2017. The price of gold managed to rise last year in rather unpleasant macroeconomic environment mainly thanks to the weakness of the U.S. dollar. Now, the key question is whether the bearish trend in the greenback will continue or we will see a trend reversal (or actually a...Read More
* U.S. officials set aggressive tone on America First* Deliver riposte to concerns about protectionism* Say more America First steps to come* Ross sees "inappropriate behaviour" by trade partners (Adds White House comment in paragraphs 7-8)By Paritosh Bansal, Noah Barkinand Yara BayoumyDAVOS, Switzerland, Jan 24 (Reuters) - U.S. Treasury Secretary Steven Mnuchin welcomed a weaker dollar...Read More
USD's relentless fall continues. Wall Street advances to fresh all-time highs. US 10-year T-bond yield is up more than 1%. The XAU/USD pair received an additional boost from the unstoppable USD sell-off in the NA session and advanced to its best level since early September at $1355. As of writing, the pair was trading at $1354, up nearly $13, or 0.95%, on the day. Nothing seems to be he...Read More
By Carolina MandlSAO PAULO, Jan 24 (Reuters) - Shares of Brazilian card processing firm PagSeguro Digital Ltd soared 34 percent in their debut on the New York Stock Exchange on Wednesday, pushing its market capitalization to $8.8 billion, nearly 40 percent of main rival Cielo SA .PagSeguro's initial public offering on Tuesday was more than 10 times oversubscribed, according to a person with knowle...Read More