Jan 23 (Reuters) - Puma Biotechnology Inc said on Tuesday a European regulatory panel indicated it was unlikely to provide a positive opinion on the company's breast cancer drug, sending its shares down 30 percent.The setback comes six months after the U.S. Food and Drug Administration approved the experimental breast cancer drug that lowers the risk of the disease returning after initial treatmen...Read More
WASHINGTON, Jan 23 (Reuters) - A majority of the U.S. Senate on Tuesday voted to confirm Federal Reserve Governor Jerome Powell as the next head of the central bank, likely ensuring continuity in monetary policy.Powell, who was seen as an uncontroversial pick with views closely aligned with current Fed Chair Janet Yellen's, is a lawyer and former investment banker. He has served on the Fed's Board...Read More
(Updates prices)By Bruno FederowskiBRASILIA, Jan 23 (Reuters) - Latin American currencies weakened on Tuesday as concerns over potential U.S. protectionism lifted the U.S. dollar from an early-year selloff.U.S. President Donald Trump slapped steep tariffs on imported washing machines and solar panels on Monday, measures that some feared could be just the beginning of a wider protectionist swing. C...Read More
CHICAGO, Jan 23 (Reuters) - Weaker demand resulted in wider spreads on Tuesday for the sale of highly rated bonds Chicago pulled from the U.S. municipal market last week in order to restructure the deal.The pricing of nearly $376.3 million of the city's Sales Tax Securitization Corporation tax-exempt bonds resulted in spreads of 53 to 60 basis points over Municipal Market Data's (MMD) benchmark tr...Read More
* S&P 500, Nasdaq end up; Dow flat* Brent oil again tops $70/bbl* Treasury yields fall in line with Japanese govt bond yields (Updates with closing U.S. market levels)By Caroline ValetkevitchNEW YORK, Jan 23 (Reuters) - World stock markets rose on Tuesday, with the S&P 500 getting a lift from upbeat earnings from companies such as Netflix, while the U.S. dollar slipped to a three-year low...Read More
DAVOS, Switzerland (Reuters) - Canadian Prime Minister Justin Trudeau said on Tuesday Canada was working hard to convince U.S. President Donald Trump that the NAFTA trade agreement was in the interest of the United States as well as other countries.“We’re working very hard to make sure that our neighbor to the south recognizes how good NAFTA is and that it has benefited not just our ec...Read More
* TSX up 9.57 points, or 0.06 percent, at 16,357.98* Five of TSX's 10 main groups move higher TORONTO, Jan 23 (Reuters) - Canada's benchmark stock index reversed earlier losses to close marginally higher on Tuesday, lifted by positive sentiment globally as well as higher oil and gold prices.* The Toronto Stock Exchange's S&P/TSX composite index was up 9.57 points, or 0.06 percent, at 16,357.9...Read More
(Kitco News) - It is not just about the economic and political headlines, according to the best-selling author, Jim Rickards, who said that the current gold bull market is being driven by fundamentals.“We are in the third year of a bull market with a very long way to run,” Jim Rickards told Kitco News on the sidelines of the Vancouver Resource Investment Conference. “The fundamen...Read More
U.S. stocks finished the day mixed, after touching record highs in early trading. The Dow traded on both sides of breakeven, but ultimately ended with a modest loss, as speculators weighed a mixed bag of blue-chip earnings reports, with Travelers (TRV), Johnson & Johnson (JNJ), Verizon (VZ), and Procter & Gamble (PG) among the stocks in focus. FAANG stock Netflix (NFLX) also garnered a healthy amo...Read More
Stock MarketsNet ChngStock MarketsNet ChngS&P/ASX 200** 6,037.00 45.10 NZX 50**8,325.05 17.42DJIA**26,210.81-3.79 NIKKEI**24,124.15307.82Nasdaq**7,460.28 52.257FTSE**7,731.83 16.39S&P 500** 2,839.13 6.16Hang Seng** 32,930.7 537.29SPI 200 Fut 6,003.017.0STI** 3,592.08 22.65SSEC**3,546.9816 45.62 KOSPI** 2,536.60 34.49--------------------------------------------------------------------------...Read More
* Netflix hits record on strong Q4* P&G, J&J weigh on Dow after results* Trump slaps import tariffs on washers, solar panels* Dow down 0.01 pct, S&P 500 up 0.22 pct, Nasdaq up 0.71 pct (Updates with U.S. market close)By Chuck MikolajczakNEW YORK, Jan 23 (Reuters) - U.S. stocks advanced on Tuesday, as strong results from Netflix helped lift the S&P and Nasdaq Composite, but the Dow...Read More
(Adds details on company strategy)SAO PAULO, Jan 23 (Reuters) - Brazilian toy retailer Ri Happy Brinquedos SA filed on Tuesday for an initial public offering on the Sao Paulo stock exchange, joining a rush of new share sales at the start of the year. According to a filing with securities regulator CVM, the company will issue new shares, and shareholders such as funds managed by buyout firm Carlyl...Read More
Jan 24 (Reuters) - Australian shares are poised to edge higher on Wednesday, inspired by gains on Wall Street, while weaker iron ore and base metal prices might weigh down material stocks.U.S. stocks advanced on Tuesday, as strong results from Netflix helped lift the S&P 500 and Nasdaq Composite . Chinese iron ore futures dropped 4 percent overnight, while copper prices fell to their lowest in...Read More
* Euro zone consumer confidence jumps more than expected * Dollar slips vs yen after BoJ meet (Updates prices, market activity, comment)By Saqib Iqbal AhmedNEW YORK, Jan 23 (Reuters) - The dollar extended recent weakness against a basket of major currencies to hit a fresh three-year low on Tuesday, after the euro surged on consumer confidence data indicating strong momentum in the region's economy...Read More
TORONTO, Jan 23 (Reuters) - Canada's main stock index inched up slightly on Tuesday, led by technology and energy shares, offsetting declines in healthcare and telecommunication companies. The Toronto Stock Exchange's S&P/TSX composite index unofficially closed up 9.57 points, or 0.06 percent, at 16,357.55. Five of the index's 10 main groups ended higher. (Reporting by Nichola Saminather; Edit...Read More
Jan 23 (Reuters) - U.S. stocks advanced on Tuesday, as strong results from Netflix helped lift the S&P and Nasdaq Composite, but the Dow Industrials were hemmed in by declines in Johnson & Johnson and Procter & Gamble. The Dow Jones Industrial Average fell 4.27 points, or 0.02 percent, to 26,210.33, the S&P 500 gained 6.22 points, or 0.22 percent, to 2,839.19 and the Nasdaq Composi...Read More
(Adds quotes and details from central bank statement, background on Argentina economy)BUENOS AIRES, Jan 23 (Reuters) - Argentina's central bank cut its policy rate to 27.25 percent on Tuesday from 28 percent previously, the monetary authority said in a statement, the second straight cut since the government relaxed its inflation target.The move comes after central bank Governor Federico Sturzeneg...Read More
* U.S. stocks up edge higher in midday trading* World stocks hits record again* Treasury yields fall in line with Japanese govt bond yields (Updates to U.S. afternoon trading, adds oil price settlements)By Caroline ValetkevitchNEW YORK, Jan 23 (Reuters) - World stock markets broadly edged higher on Tuesday, with the U.S. market getting a lift from upbeat earnings from companies such as Netflix, wh...Read More
AK Steel Holding Corporation (NYSE:AKS) will report earnings before the open next Tuesday, Jan. 30, and just a day later fellow steel stock United States Steel Corporation (NYSE:X) will be in the earnings spotlight, as well. Both these stocks are experiencing accelerated options trading today, while the steel industry awaits its own decision on import tariffs from the White House. AKS Options Trad...Read More
On Tuesday, gold climbed back towards the $1,340 an ounce level bringing gains since mid-December to nearly $100 an ounce or 8%. Large-scale speculators have been increasing their exposure to gold on derivatives markets doubling net long positions - bets that gold will be more expensive in future - in the space of three weeks to the equivalent of 20m ounces. Retail and institutional investment i...Read More