* Mnuchin supports weak dollar* U.S. 5-year note auction shows mixed results (Adds comment, results of U.S. 5-year note auction, updates prices, table)By Gertrude Chavez-DreyfussNEW YORK, Jan 24 (Reuters) - U.S. Treasury debt prices slumped on Wednesday, after Treasury Secretary Steven Mnuchin backed a weaker dollar to help boost America's global trade, breaking from the traditional strong currenc...Read More
The U.S. stock market has retreated from the record highs it set earlier, as tech stocks slide. Among individual equities on the move are electronics manufacturing specialist Cemtrex Inc (NASDAQ:CETX), fabric dyeing firm Sharing Economy International Inc (NASDAQ:SEII), and semiconductor stock Sigma Designs Inc (NASDAQ:SIGM). Here's a quick look at how shares of CETX, SEII, and SIGM are trading tod...Read More
Airline stocks are trading lower today, after United Continental's (UAL) earnings call sparked fears of pricing wars in the industry. Sector peers Southwest Airlines Co (NYSE:LUV) and American Airlines Group Inc (NASDAQ:AAL) both report earnings before the open tomorrow, so this group will remain in focus going forward. We'll take a closer look at LUV and AAL to see what traders can expect. Leisur...Read More
(Adds background, details.)KIEV, Jan 24 (Reuters) - International Monetary Fund chief Christine Lagarde and Ukrainian President Petro Poroshenko said on Wednesday they had a constructive meeting on the sidelines of the World Economic Forum in Davos.Delays implementing reforms have held up the disbursement of funding under a $17.5 billion IMF programme and raised concern about Ukraine's willingnes...Read More
BUENOS AIRES, Jan 24 (Reuters) - Argentina sold $800 million in Treasury notes to refinance maturing debt, the Finance Ministry said in a statement on Wednesday.The government sold $400 million in 196-day Treasury notes and $400 million in 364-day Treasury notes, for which it received $3.174 billion and $1.741 billion in orders, respectively.(Reporting by Caroline Stauffer Editing by Chizu Nomiyam...Read More
Apple Inc (NASDAQ:AAPL) has found itself all over the news this week. Yesterday, an analyst at J.P. Morgan Securities predicted build for the iPhone X might be down as much as 50% this quarter. Today, the tech titan noted that medical records could be featured on the Apple Watch, and new battery features were being implemented after its much-publicized slowdown controversy.Given the flurry of new...Read More
WASHINGTON, Jan 24 (Reuters) - The U.S. dollar is very stable and President Donald Trump believes in a free-floating currency, the White House said on Wednesday after a senior U.S. official welcomed a weaker dollar. "We believe in a free-floating currency. The president has always believed in that," White House spokeswoman Sarah Sanders told reporters at a daily briefing. "We have ....Read More
Paritosh Bansal, Noah Barkin, Yara BayoumyDAVOS, Switzerland (Reuters) - A senior U.S. official welcomed a weaker dollar on Wednesday, sending the greenback reeling and underlining concerns that U.S. President Donald Trump is stepping up his attack on China and other big trading partners as part of his America First agenda.U.S. Treasury Secretary Steven Mnuchin made the remark, seen by markets as...Read More
WASHINGTON (Reuters) - The White House plans to release its budget proposal for fiscal 2019 on Feb. 12, a spokeswoman for the Office of Management and Budget said on Wednesday.Reporting by Roberta Rampton; Editing by Jonathan Oatis 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 accur...Read More
* Macron calls for "global compact" to harness globalisation* Merkel evokes world wars and asks: have we learned the lesson?* Italy PM says there are limits to the pursuit of national aims* Speeches in Davos come day before President Trump arrives By Noah Barkinand Yara BayoumyDAVOS, Switzerland, Jan 24 (Reuters) - European leaders warned at the World Economic Forum in Davos on Wednesda...Read More
(Kitco News) - The rally behind gold prices is targeting “a major band of resistance between $1,357 and $1,380,” said head of commodity strategy at Saxo Bank Ole Hansen, adding that if breached, gold could climb above $1,450.The environment looks bullish for gold, mainly due to inflation expectations, a weak U.S. dollar, overall commodity price trends as well as geopolitical and financ...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
BUENOS AIRES, Jan 24 (Reuters) - Argentina's economic activity expanded 3.9 percent in November, compared with the same month in 2016, government statistics agency Indec said on Wednesday, in line with median expectations in a Reuters poll for 3.9 percent growth. In the 11 months through November 2017, the economy expanded 2.9 percent compared with the same period the prior year. The economy grew...Read More
ABUJA, Jan 24 (Reuters) - Nigeria's lower house of parliament passed a bill on Wednesday that will allow the stock exchange to become a publicly listed company that can issue shares to investors.Oscar Onyema, chief executive of the Nigerian Stock Exchange (NSE), said last week he expected the bill to be signed into law this year .The upper house of parliament passed the bill in December. The bill...Read More
KIEV, Jan 24 (Reuters) - Ukrainian President Petro Poroshenko on Wednesday said he had a constructive and open meeting with International Monetary Fund chief Christine Lagarde on the sidelines of the World Economic Forum in Davos."Ukraine confirms its readiness to continue fruitful cooperation with the International Monetary Fund as an important factor in strengthening macroeconomic stability...Read More
(Removes extraneous text in paragraph 8)* Bank stocks follow Treasury yields higher* GE slips after revealing regulatory probe* Dollar slides on Mnuchin's remarks* Indexes down: Dow 0.01 pct, S&P 0.28 pct, Nasdaq 0.76 pct By Sruthi ShankarJan 24 (Reuters) - U.S. stocks fell on Wednesday after Commerce Secretary Wilbur Ross called China's 2025 technology strategy a "direct threat" a...Read More
(Kitco News) - Gold and silver pricesended the U.S. day session sharply higher and near theirdaily highs Wednesday. Gold scored a 4.5-month high and silver notched anine-week high. A sharply lower U.S. dollar index that slumped to a 3.5-yearlow today, and rallying crude oil prices that hit a 2.5-year high, areproviding the precious metals bulls with rocket fuel. February Comex gold waslast up $20....Read More
Jan 25 (Reuters) - Stock MarketsNet ChngStock MarketsNet ChngS&P/ASX 200** 6,054.70 17.70 NZX 50**8,324.09 16.46DJIA26,157.55-53.26NIKKEI**23,940.78-183.37Nasdaq7,386.642-73.65FTSE**7,643.43 -88.40S&P 500 2,827.66 -11.47Hang Seng** 32,958.6927.99SPI 200 Fut 5,966.0-35.0 STI** 3,609.24 17.16SSEC**3,560.73 14.23 KOSPI** 2,5381.40---------------------------------------------------------------...Read More
BUENOS AIRES, Jan 24 (Reuters) - Argentina's peso currency plunged 1.6 percent on Wednesday to close at a historic low of 19.6525 per dollar, after the central bank slashed its benchmark policy rate to 27.25 percent on Tuesday. That marked the fifth consecutive session of declines for the peso. The central bank has cut interest rates by 150 basis points in the past month, after the government rela...Read More
Toronto, Ontario-(Newsfile Corp. - January 24, 2018) - McLaren Resources Inc. (CSE: MCL) (OTC: MLRNF) (FSE: 3ML) ("McLaren" / the "Company") is pleased to announce that the Company plans to establish a new subsidiary corporation to develop a blockchain platform for mining industry information using a distributed ledger system for the transfer of data, documentation and related information. Mining...Read More