ALL TIMES IN EST/GMT -------------------------------------------------------1100/1600: The USDA releases weekly U.S. export inspections for grains, oilseeds.1100/1600: The Treasury Dept. announces weekly sale of 4-week bills.1130/1630: The Treasury Dept holds weekly sale of 3-, 6-month bills.------------------------------------------------------- DIARY - Federal Reserve Events U.S. Indicators (Was...Read More
* Randal Quarles warns revising rule will be substantial effort* Fed also looking to recalibrate leverage ratio, liquidity rules* Says he aims to 'improve' upon, not gut, post-crisis rules By Michelle PriceWASHINGTON, Jan 19 (Reuters) - A top bank regulator at the U.S. Federal Reserve is planning several imminent changes that Wall Street has wanted involving capital rules, proprietary trading and...Read More
* Republicans scramble for funding deal before midnight deadline* Some see modest market effect from a U.S. government shutdown* Euro near 3-year high, yen close to 4-month high vs dollar* Rising U.S. yields fail to lift greenback (Updates market action, adds quote, graphic)By Richard LeongNEW YORK, Jan 19 (Reuters) - The dollar held steady above a three-year low versus a basket of currencies on F...Read More
NEW YORK, Jan 19 (Reuters) - Speculators' net short dollar bets rose in the latest week to the largest position since mid-October, according to calculations by Reuters and Commodity Futures Trading Commission data released on Friday.The value of the net short dollar positions, derived from net positions of International Monetary Market speculators in the yen, euro, British pound, Swiss franc and C...Read More
By Caroline ValetkevitchNEW YORK, Jan 19 (Reuters) - The dollar's drop to three-year lows this week after prolonged weakness in 2017 is expected to further boost profits at big U.S. companies when investor optimism is already high over corporate tax cuts.Investors are keeping an eye out for signs of the dollar's impact on company earnings as fourth quarter reporting ramps up next week.U.S. multina...Read More
(Kitco News)- There is still lots of value in the gold market as priceshold near a four-month high, according to the manager of the third largestgold-backed investment firm in North America.John Ciampaglia, CEO of Sprott Asset Management (SAM), saidin an interview with Kitco News that he sees last year’s 12% rally in gold as thestart of a bigger long-term move, adding that investors are star...Read More
(Adds comments)By Ann SaphirSAN FRANCISCO, Jan 19 (Reuters) - The Federal Reserve should continue to raise rates at a gradual pace during 2018, San Francisco Federal Reserve Bank President John Williams said on Friday, saying he expects the recent tax cuts and other tailwinds to boost economic growth this year."Right now my base case is that three rate increases for 2018 seems like a good st...Read More
It's a mixed session on Wall Street today, as traders await updates on the budget showdown in D.C. Among individual stocks making notable moves are embattled blue chip General Electric Company (NYSE:GE), pharmaceutical firm Valeant Pharmaceuticals Intl Inc (NYSE:VRX), and e-commerce giant Amazon.com, Inc. (NASDAQ:AMZN). Here's a quick look at what's moving shares of GE, VRX, and AMZN.GE Stock Hit...Read More
U.S. stocks hit new highs again this week, with the Dow Jones Industrial Average (DJI) soaring past the 26,000 level, thanks to another round of well-received fourth-quarter earnings reports. The momentum stalled by week's end, however, when profit-taking and fears of a government shutdown took hold on Wall Street. As a result, the CBOE Volatility Index (VIX) notched its best weekly win since Dec...Read More
(Updates quotes, prices and news throughout)* 10-year yields hit highest level since September 2014* Deadline for U.S. government funding bill approaching By Kate DuguidNEW YORK, Jan 19 (Reuters) - Yields on the 10-year U.S. government note hit a three-year high on Friday as weakness in overnight trading led the debt to test key technical support levels, before the higher yields attracted new buy...Read More
The shares of biotech Exelixis, Inc. (NASDAQ:EXEL) -- which makes Cabometyx -- have been in a channel of higher highs and lows since early 2016, gaining 55% over the past year. Since its most recent test of the $32-$32.50 range -- home to its Oct. 16 record high -- earlier this month, EXEL stock has given back about 13%, and was last seen 0.3% lower to trade at $27.80. However, the drug stock coul...Read More
SAN FRANCISCO, Jan 19 (Reuters) - San Francisco Federal Reserve President John Williams on Friday did not comment on reports Thursday that he is under consideration by the White House to be the Fed Board's No. 2, succeeding Stanley Fischer who resigned late last year."I'm not going to comment on that at all," he told reporters after an event at the Fed's headquarters. "This is a dec...Read More
Jan 19 (Reuters) - * Synchrony Financialposted quarterly adjusted earnings of 70 centsper share. The mean expectation of 20 analysts for the quarter ended December 31 was for earnings of 63 centsper share. * Revenue rose 7.94 percent to $3.92 billion from a year ago; analysts expected $3.96 billion. * Synchrony Financial's Reported EPS for the quarter was 49 cents. * The mean earnings estimate of...Read More
Jan 19 (Reuters) - * Kansas City Southernposted quarterly adjusted earnings of $1.38 per share. The mean expectation of 18 analysts for the quarter ended December 31 was for earnings of $1.37 per share. * Revenue rose 10.34 percent to $660.40 million from a year ago; analysts expected $656.28 million. * Kansas City Southern's Reported EPS for the quarter was $5.33. * The mean earnings estimate of...Read More
Gold looks to close the week slightly lower. DXY retraces daily losses in the early NA session. UoM Consumer Sentiment Index is due next from the U.S. After reaching a fresh daily high at $1338 during the European session, the XAU/USD pair lost its traction and started to consolidate its daily gains. As of writing, the pair was trading at $1334, still up 0.55% on the day. Global equity indexes&#...Read More
* Gold, silver, palladium set for first weekly drop in six* Platinum on track for sixth weekly gain* Analysts cautious on gold as dollar weakness seen overdone (Updates prices; adds comment and NEW YORK to dateline)By Renita D. Young and Maytaal AngelNEW YORK/LONDON, Jan 19 (Reuters) - Gold prices rose slightly on Friday as the U.S. dollar hovered near a three-year low on heightened fears of a U.S...Read More
WASHINGTON (Reuters) - U.S. financial regulators have begun work to “streamline” the Volcker Rule banning banks from making risky bets with their own money, the country’s top banking regulator said on Friday.Randal Quarles, vice chairman for supervision at the Federal Reserve, told a conference in Washington that the five agencies that oversee the rule were working on a proposal...Read More
Jan 19 (Reuters) - * Regions Financial Corpposted quarterly adjusted earnings of 36 cents per share. The mean expectation of 27 analysts for the quarter ended December 31 was for earnings of 26 centsper share. * Revenue rose 11.91 percent to $1.49 billion from a year ago; analysts expected $1.44 billion. * Regions Financial Corp's Reported EPS for the quarter was 27 cents. * The mean earnings esti...Read More
Saqib Iqbal AhmedNEW YORK (Reuters) - The U.S. dollar took a harsh beating in 2017, on the way to its nearly 10 percent fall, its worst annual performance since 2003. The currency is still reeling this year.The dollar index .DXY, which measures the greenback against a basket of major currencies, recently fell to a three-year low.Moves by central banks around the world toward monetary policy normal...Read More
Michael Martina, Kevin YaoBEIJING (Reuters) - As influential voices within the U.S. business community warn China that U.S. President Donald Trump is serious about tough action over Beijing’s trade practices, there is little sense of a crisis in the Chinese capital, where officials think he is bluffing.In Beijing, many experts think Washington is unwilling to pay the heavy economic price nee...Read More