* Schlumberger down after reporting Q4 results* IBM lower after saying higher tax rates will hit profit* AmEx posts first loss in 26 years on tax charge* Indexes up: Dow 0.05 pct, S&P 0.28 pct, Nasdaq 0.37 pct (Updates to open)By Sruthi ShankarJan 19 (Reuters) - Wall Street's main indexes rose on Friday, powered by gains in Amazon and Nike, while investors shrugged off fears of a looming U.S....Read More
NEW YORK, Jan 19 (Reuters) - The dollar added to its losses versus a group of currencies on Friday as the University of Michigan's gauge on U.S. consumer sentiment in early January unexpectedly weakened to its lowest level since July. At 10:11 AM (1511 GMT), the index that tracks the greenback against a basket of currencies on a trade-weighted basis was last down 0.08 pct at 90.465. It was not far...Read More
Technology powerhouse IBM Corp. (NYSE:IBM) is trading lower, as a disappointing full-year forecast overshadows the company's first rise in revenue in 23 quarters. In response, the tech stock has received mixed analyst attention. Of note, brokerage firm Deutsche Bank raised its price target to $160 from $150, while RBC cut its price target to $180 from $183. The Dow stock was trading 2.4% lower at...Read More
(Kitco News) - Gold is regaining lost ground Friday as the U.S. dollar is once again trading near 3-year lows on increased fears of a U.S. government shutdown, according to forex analysts.“Gold found support on Friday in the form of dollar weakness and market anxiety over a potential U.S. government shutdown,” said Lukman Otunuga, research analyst at FXTM.As Republicans rush to gather...Read More
* Currencies retreat after hitting multi-year highs vs dollar* Disappointment over IRS tender boosts Hungarian bond yields* Hungary trying to push down borrowing costs (Adds further rise in Hungarian bond yields, Czech parliament vote)By Sandor PetoBUDAPEST, Jan 19 (Reuters) - Hungary's 10-year government bond yield hit a two-month high on Friday due to concern that the central bank's (NBH) new in...Read More
Sirius XM Holdings Inc. (NASDAQ:SIRI) and Nvidia Corporation (NASDAQ:NVDA) stocks have both been winners in recent years, andare again gaining today following bullish brokerage attention. Below we'll take a closer look at shares of SIRI and NVDA after the analyst notes. Deutsche Bullish On SIRI StockShares of Sirius XM are trading up 1.8% at $5.57, after Deutsche Bank upgraded the stock to "buy"...Read More
DAR ES SALAAM, Jan 19 (Reuters) - Tanzania's national oil company TPDC ordered Swala Oil and Gas on Friday to delay its acquisition of up to 40 percent in PAE PanAfrican Energy Corp. pending a more detailed assessment of the deal.Swala, a Tanzanian firm, said on Jan. 2 it would buy the stake in the unit of Canada's Orca Exploration Group for $130 million.The deal would give Swala part ownership of...Read More
TORONTO, Jan 19 (Reuters) - Canada's main stock index edged higher on Friday as broad-based gains offset losses for the energy group after oil prices fell.The Toronto Stock Exchange's S&P/TSX composite index rose 17.93 points, or 0.11 percent, to 16,302.40, shortly after the open. Eight of the index's 10 main groups were higher. (Reporting by Fergal Smith Editing by Chizu Nomiyama) Disclaimer...Read More
By Bruno FederowskiBRASILIA, Jan 19 (Reuters) - Brazilian stocks hovered near all-time highs on Friday as optimism over the nation's economic prospects sustained demand for local assets, while hopes of a tie-up with Boeing Co boosted shares of Embraer SA .The benchmark Bovespa stock index rose 0.2 percent, supported by blue chips such as Vale SA and lenders Banco Bradesco SA and Ita?? Unibanco Hol...Read More
Jan 19 (Reuters) - U.S. stocks opened higher on Friday, putting the major indexes on track for three straight weeks of gains as hopes of a strong earnings season overshadowed fears of a potential U.S. government shutdown.The Dow Jones Industrial Average rose 12.73 points, or 0.05 percent, to 26,030.54. The S&P 500 gained 6.71 points, or 0.24 percent, to 2,804.74. The Nasdaq Composite added 23....Read More
WASHINGTON, Jan 19 (Reuters) - The U.S. Treasury will auction 6-day cash management bills on Friday in a small-value contingency auction operation. For details of the auction, see: (Washington economics newsroom) 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 accuracy of information...Read More
The shares of Overstock.com Inc (NASDAQ:OSTK) are pointed 4.2% higher in pre-market trading, amid reports that Kroger Co (NYSE:KR) could be interested in buying the e-commerce concern. However, even without the M&A speculation, OSTK shares -- which have moved in step with blockchain stocks recently -- could be sending up a "buy" signal, if past is prologue.The shares recently pulled back to within...Read More
After staging a sharp reversal from record highs on Thursday, the Dow Jones Industrial Average (DJI) is signaling a negative start to the trading session. All odds seem stacked against the blue-chip index today, with Dow stocks American Express (AXP) and IBM (IBM) set for post-earnings slumps. And while the House passed a short-term funding bill last night, the stopgap measure still has to clear t...Read More
(Kitco News) - The markets continue to reflect nervousness about thepossibility of a government shutdown at midnight tonight. The rhetoricratcheted higher overnight as Democrats continue to demand a deal on DACA aspart of the funding extension. Dollar selling accelerated and gold pushedhigher before the Asian close. Volatility will increase throughout the day andtraders are likely to go into the w...Read More
* Dollar pressured by U.S. government shutdown risk* Euro near three-year high, yen near four-month high vs dollar* Graphic: World FX rates in 2017 - By Jemima KellyLONDON, Jan 19 (Reuters) - The dollar laboured near a three-year low against a basket of currencies on Friday, heading for a fifth week of falls that would be its longest losing streak since May 2015, as worries about a possible U.S. g...Read More
(Kitco News) - Gold and silver prices are moderately higher in early U.S. trading Friday, boostedby a weakened U.S. dollar index that hovers near this week's 3.5-year low.There is also a bit of safe-haven demand seen in both metals as a U.S.government shutdown looms. February Comex gold was last up $6.80 an ounce at$1,334.00. March Comex silver was last up $0.086 at $17.035 an ounce.Thereare growi...Read More
(Adds background, comment)ANKARA, Jan 19 (Reuters) - Gold imports to Turkey hit a record 370 tonnes in 2017, more than trebling from 106.1 tonnes, data from Borsa Istanbul showed.This was the highest level of imports since the data was made available in 1995 and well above the previous record of 302 tonnes set in 2013. Imports in December alone reached 49.3 tonnes, up 34 percent year on year. Cag...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
* Discounts in India at about $5 vs $2 last week* Premiums in China at about $8 By Nithin ThomasPrasad and Rajendra JadhavBENGALURU/MUMBAI, Jan 19 (Reuters) - Gold demand in China firmed this week as retailers stocked up ahead of the Chinese New Year while price discounts widened in India, partly on expectations of a reduction in import duty in next month's budget.Spot gold prices, up by more tha...Read More
(Reuters) - San Francisco Federal Reserve Bank President John Williams is under consideration by the White House for the post of vice chair of the Fed Board in Washington, the Wall Street Journal reported on Thursday, citing unnamed people familiar with the matter.A San Francisco Fed spokesman declined to comment to Reuters. The Wall Street Journal said it was unclear whether Williams is a front r...Read More