U.S. stock futures are signaling a positive start, after all three major market indexes nabbed record highs on Monday. With little in the way of economic data for traders to digest, Wall Street is eyeing a rally in Japan and the latest corporate news. Retail stocks will likely remain in focus, with Target (TGT) the latest retailer to unveil its holiday sales numbers. The tech sector will also be f...Read More
* Microsoft halts some AMD chip Meltdown patches after PCs freeze* Target joins retailers that recorded strong holiday sales* Oil hits highest since May 2015 above $68 on tighter market* Futures up: Dow 60 pts, S&P 3.5 pts, Nasdaq 0.19 pts (Adds comment, details on companies, updates prices)By Sruthi ShankarJan 9 (Reuters) - The S&P 500 and the Dow were on track for a record open on Tuesda...Read More
* Tens of thousands of workers stage strikes on Tuesday* Further walkouts planned for Wednesday* IG Metall demands 6 pct higher pay, right to shorter hours* Labour leader says dispute may escalate over working hours (Adds number of workers on strike, companies affected, changes dateline)By Maria SheahanFRANKFURT, Jan 9 (Reuters) - German industrial workers widened industrial action on Tuesday, wit...Read More
By Natalia Zinets and AlessandraPrenticeKIEV, Jan 9 (Reuters) - A Dutch court has issued a provisional order to freeze the Netherlands-based companies of the flagship business group owned by Ukraine's richest man in connection with a long-running $820 million lawsuit.Systems Capital Management (SCM) is owned by Rinat Akhmetov, who has amassed a multi-billion dollar fortune through his conglomerate...Read More
MOSCOW, Jan 9 (Reuters) - Russia's Finance Ministry said on Tuesday it would offer 40 billion roubles ($701.2 million) worth of OFZ treasury bonds at two auctions on Wednesday.The ministry said it would offer 20 billion roubles of OFZs maturing in 2021 and 20 billion roubles of OFZs maturing in 2028 .($1 = 57.0420 roubles) (Reporting by Yelena Orekhova; Writing by Jack Stubbs; Editing by Vladimir...Read More
We've been recounting some of our top stock picks of 2017, last week looking back on our winning short position on Chipotle (CMG). On the long side, our traders also nailed a massive move in industrial stock Trinity Industries Inc (NYSE:TRN), which closed the year up nearly 35%. Here's a closer look at why we were bullish on TRN stock in 2017 and how its strong performance unfolded. What initially...Read More
(Adds detail from report)By Andrea HopkinsOTTAWA, Jan 9 (Reuters) - Canadian housing starts fell in December, as expected, as a sharp decline in multiple unit urban starts outweighed a rise in single-detached starts, data from the Canada Mortgage and Housing Corporation showed on Tuesday.December's decline bucked a strong year for homebuilding, with total urban starts up 6.2 percent from 2016 as...Read More
Gold’s technical picture remainsconstructive even though a bounce in the U.S. dollar has pressured the preciousmetal lately, says Lukman Otunuga, research analyst at FXTM. “Gold found itself underpressure during Tuesday’s trading, amid renewed market expectations of higherU.S. interest rates this year,” the analyst says. Otunuga later adds: “Althoughgold may witness f...Read More
Mr. Jean Martineau reports DYNACOR ANNOUNCES DEBT-FREE STATUS AFTER EARLY REPAYMENT OF LONG-TERM CREDIT FACILITY Dynacor Gold Mines Inc. is now debt free. The final payments, on its long-term senior secured credit facilities, amounting to $1.9-million, were done in the last week of December, 2017. (All amounts refer to U.S. dollars.) During the last five months of 2017, Dynacor has made aggregate...Read More
(Kitco News) - Gold and silver, after afew attempts, were both unable to break upthrough their respective resistance levels of $1,322 and $17.22. The break-downof the euro/dollar trade through the 1.20 level initiated some profit taking inboth metals yesterday. The 30-year U.S. bond broke above the 2% level yesterday, adding further pressure to the metals complex.The metals have remained resilient...Read More
OTTAWA, Jan 9 (Reuters) - Canadian housing starts fell in December, as expected, as a sharp decline in multiple unit urban starts outweighed a rise in single-detached starts, data from the Canada Mortgage and Housing Corporation showed on Tuesday.The seasonally adjusted annual rate of starts declined to216,980 in December from November's downwardly revised 251,675. Economists had expected a declin...Read More
* Yen rises after Bank of Japan trims JGB purchases* Crude oil futures rise to highest since May 2015* Samsung's guidance disappoints, weighing on tech sector* Nikkei probes highest levels since November 1991* Europe helps world stocks extend flying start to year* Graphic: World FX rates in 2018 By Marc JonesLONDON, Jan 9 (Reuters) - A tweak to the Bank of Japan's bond-buying programme shunted the...Read More
Mr. Michael Allen reportsNORTHERN EMPIRE REVIEWS 2017 AND PROVIDES OUTLOOK FOR 2018Northern Empire Resources Corp. has summarized the progress of the company in 2017 and provided plans for the first half of 2018.Michael G. Allen, president, chief executive officer and director, stated: "On behalf of the board and management, I would like to thank our shareholders for your support during this trans...Read More
(Kitco News) - Gold and silver prices are weaker in early U.S. trading Tuesday. A rebound in theU.S. dollar index early this week is providing downside price pressure on thegold and silver markets. Some normal profit-taking and chart consolidation arealso featured after gold prices hit a 3.5-month high last week. February Comex gold was last down $5.50 an ounce at $1,314.90. March Comex silver was...Read More
JOHANNESBURG, Jan 9 (Reuters) - South Africa's new vehicle sales fell 2.4 percent year-on-year to 40,636 units in December, data from the trade and industry department showed on Tuesday.Exports however fell 7.1 percent to 17,374 units compared with the same month a year earlier, the department said. (Reporting by Mfuneko Toyana; Editing by Ed Stoddard) Disclaimer: The views expressed in this art...Read More
* Yen hits five-day high after BoJ trims buying in long-dated JGBs* Euro below $1.20 on profit-taking after record long positions* Dollar index hits 11-day high* Graphic: World FX rates in 2017 By Jemima KellyLONDON, Jan 9 (Reuters) - The yen reached a five-day high on Tuesday, after the Bank of Japan trimmed its purchases of long-dated government bonds in market operations, stoking speculation th...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
(Kitco News) - Gold held by globalexchange-traded funds increased by 197.5 tonnes in 2017, a gain of 8.4%, saidthe World Gold Council in its monthly report on Tuesday.The rise last year was largelydriven by European ETFs, which represented 75% of all total inflows by adding148.6 tonnes of gold ($5.8 billion) to their holdings.In turn, the European market wasdominated by Germany. “German-list...Read More
The metals are in the middle of a major bull-bear debate,as witnessed by the last few trading days. After breaking out on Jan. 2 andmaking recent highs on Jan. 4, metals have started to move sideways to lower.The pattern is typical of a market topping, and this should be the top in goldand silver for now. Volume also peaked on Jan. 4, giving all the indicationsthat the metals were ready to take a...Read More
By Renita D. YoungNEW YORK, Jan 9 (Reuters) - European gold-backed exchange-traded funds added more than double the amount of tonnes that North American ones did in 2017, growing their assets by 13.9 percent, the World Gold Council said on Tuesday.Though North America contained more than half the amount of global exchange-traded fund holdings, European funds added the most to their gold-backed ETF...Read More