Jan 22 (Reuters) - The benchmark S&P 500 index opened lower on Monday, weighed down by losses in Boeing, Apple and General Electric, and as a U.S. government shutdown entered its third day.The Dow Jones Industrial Average fell 88.26 points, or 0.34 percent, to 25,983.46. The S&P 500 lost 1.7 points, or 0.060492 percent, to 2,808.6. The Nasdaq Composite added 0.83 points, or 0.01 percent, t...Read More
(Reuters) - The International Monetary Fund on Monday revised up its forecast for world economic growth in 2018 and 2019 saying that sweeping U.S. tax cuts were expected to boost investment in the world’s largest economy and help its main trading partners.In an update of its World Economic Outlook, the IMF however warned that U.S. growth would likely start weakening after 2022 as temporary s...Read More
FRANKFURT, Jan 22 (Reuters) - Deutsche Boerse has launched an index that tracks companies that are leaders in artificial intelligence (AI) by using an algorithm to identify early adopters of the technology.Companies in the index include Apple , Deutsche Telekom , Bank of America and Facebook , the German stock exchange operator said on Monday.It said it had found a way to identify AI-related paten...Read More
* Instone seen valued at more than 1 bln eur -sources* Instone to issue new shares worth 150 mln eur* Two thirds of proceeds for investments in new projects (Adds deal value)FRANKFURT, Jan 22 (Reuters) - Instone Real Estate Group, a German residential property developer, said on Monday it planned to list its shares on the Frankfurt Stock Exchange this year.The company is expected to be valued at m...Read More
U.S. stock futures are trading below fair value, as the government shutdown extends to a third day. The Senate failed to pass a short-term spending bill over the weekend, though Majority Leader Mitch McConnell has scheduled a vote for 12 p.m. ET today for a stopgap bill that would fund the federal government through Feb. 8. Among individual stocks, Netflix (NFLX) will likely be in focus ahead of t...Read More
Africa-focused gold producer Randgold Resources (LON:RSS) said Monday it expected its Democratic Republic of the Congo mine to achieve full production this year, following the commissioning of its underground operation's automated ore handling and hoisting system.Mine is on track to produce its target of 700,000 ounces of gold in 2018.The company, which has five operating gold mines across west...Read More
DAVOS, Switzerland, Jan 22 (Reuters) - Global growth will continue to strengthen this year and next, but a buildup of debt poses risks and policymakers must avoid complacency, IMF Managing Director Christine Lagarde said on Monday in Davos."Global growth has been accelerating since 2016 and all signs point to a continuous strengthening of that growth, this year in 2018 and next year in 2019,&...Read More
* Juno Therapeutics jumps after Celgene's $9 bln deal* AIG to buy reinsurer Validus for $5.6 bln* Senate to vote on extending U.S. funding at noon* Futures down: Dow 49 pts, S&P 0.75 pts, Nasdaq flat (Adds comment, updates prices, details)By Sruthi ShankarJan 22 (Reuters) - Wall Street was set to start the week slightly lower as a U.S. government shutdown entered its third day, while investors...Read More
Franco-NevadaCorp. (TSX, NYSE: FNV) says subsidiary Franco-Nevada (Barbados) Corp. hasagreed to acquire a precious-metals stream on Korea Resources Corp.’s (KORES)10% indirect interest in the Cobre Panama project for $178 million. Terms arethe same as the $178 million stream announced in September in connection withthe First Quantum Minerals Ltd. acquisition of a separate 10% interest fromLS...Read More
(Adds details)NAIROBI, Jan 22 (Reuters) - Kenya's central bank held its benchmark lending rate at 10.0 percent on Monday, saying inflation was within its preferred range and there was increased optimism about the outlook for economic growth.A Reuters poll of 10 analysts had expected policymakers to hold the benchmark rate. The bank's Monetary Policy Committee (MPC) said there was room for "a...Read More
NEW YORK, Jan 22 (Reuters) - The U.S. government shutdown that began on Saturday is disruptive to the economy, but poses no immediate threat to its top notch Aaa-rating as long as it makes its debt payments on time, Moody's Investors Service said on Monday.The federal shutdown, the first since 2013, would make it likely the issue of raising the statutory borrowing limit would become part of the ne...Read More
"On Wednesday, the RSI moved above 80 for the first time since Feb. 21, 2017. Looking back at data for the SPDR S&P 500 ETF (SPY - 277.92)since 1993, this has happened only eight times. Although it is a limited sample size, when RSI reaches this level, the SPY has historically underperformed over one-week and one-month times. The other big takeaway is that the SPY has outperformed over three-month...Read More
As a long-term gold and silver bull, it's always hard to write negatively about the metals, but being a markettechnician, I also must read the charts and follow the footprints they leave.The metals have had a great move higher and now look to have hit the pausebutton; they are ready to see some profit taking.Investors in the metals should behappy about the next sell-off, which is really going to b...Read More
Much of the bad news surrounding the U.S. governmentshutdown has been priced into the U.S. dollar, thus the greenback could be duefor a short-term correction higher, according to foreign-exchange analyst at TDSecurities. However, the bank is maintaining is an overall bearish view of the U.S.dollar, despite the risk of a short-term rally. “As the circus plays out, weexercise caution on chasin...Read More
(Kitco News) - Gold prices are modestly lower in early U.S. trading Monday. Some backing andfilling on the charts is featured following recent price gains that pushed goldto a four-month high. February Comex gold was last down $1.70 an ounce at $1,331.40.March Comex silver was last down $0.111 at $17.025 an ounce.TheU.S. government remains shut down for the third day, as U.S. lawmakers cannotagree...Read More
BRUSSELS, Jan 22 (Reuters) - Euro zone finance ministers will decide on Monday whether Greece is eligible for the next tranche of bailout loans after listening to an expert review of reforms recently adopted by Athens, top euro zone officials said.To pay out 6.7 billion euros ($8.2 billion) of new loans, probably in more than one tranche, international lenders have asked Greece to adopt 110 "...Read More
Editor's Note: Welcome to Kitco's new Bitcoin Daily Technical Alert. Every trading day veteran Kitco technical analyst Jim Wyckoff will provide you with a concise and easy-to-understand near-term technical brief on Bitcoin. Importantly, Jim will glean the short-term charts and technical studies, and then alert you to the signals he sees regarding upcoming potential bigger price moves or price tren...Read More
(Adds that in Washington, the Smithsonian museums and the National Zoo will remain open on Monday)By Chris KenningJan 22 (Reuters) - Thousands of federal workers faced uncertainty about the status of their jobs and paychecks after U.S. Senate leaders failed to reach an agreement to end a government shutdown before the work week begins on Monday.Funding for federal agencies ran out at midnight on...Read More
• USD recovers early losses led by a government shutdown. • Surging US bond yields add to the downward pressure. • Fading safe-haven demand does little lend any support. Having posted a daily high near the $1336 region, gold came under some selling pressure and has now retreated back below $1330 level. The precious metal i...Read More
Mr. Nav Dhaliwal reportsBONTERRA EXPANDS EXPLORATION PROGRAM AT GLADIATOR GOLD DEPOSITBonterra Resources Inc.'s 2018 winter drilling program is under way at the Gladiator gold project. After completing more than 60,000 metres in 2017, the company plans to drill 30,000 metres during the winter drill program and more than 70,000 metres in 2018. The winter drilling program includes mobilizing two add...Read More