Oct 26 (Reuters) - Gains in Tesla, Nvidia and other heavyweight technology names helped the benchmark S&P 500 index scale a record high on Tuesday, while upbeat results from UPS and GE added to optimism around the third-quarter earnings season.Tesla Inc (TSLA.O) rose 1%, extending a record run that helped the electric-car maker surpass $1 trillion in market value on Monday after landing its...Read More
Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here! (Kitco News) - Newlox Gold (CSE: LUX)announced Tuesday that its local mining partners have commenced operations atthe historic Boston gold mine in Costa Rica. "The miners have startedactively mining at Boston to esta...Read More
NEW YORK, Oct 26 (Reuters) - The negative impact of currency fluctuations on corporate results for North American companies fell in the second quarter of this year from the previous quarter, data from treasury and financial management firm Kyriba showed on Tuesday.The collective exchange rate hit, including on companies in the United States, Canada and Mexico, was $2.32 billion in the second quart...Read More
NEW YORK/LONDON, Oct 26 (Reuters) - Equity markets gained globally on Tuesday, as upbeat corporate earnings continue to buoyWall Street stocks, though investor concerns lingered over supply chain problems sparked by the coronavirus pandemic.Facebook Inc (FB.O) kicked off the earnings season for technology giants by reporting a 17% jump in its third quarter profit on Monday. Alphabet Inc (GOOGL....Read More
WASHINGTON, Oct 26 (Reuters) - The World Bank's board has turned down a request by IMF Managing Director Kristalina Georgieva for a meeting to defend herself against claims that she pressured staff to alter data as the bank's CEO in 2017, according to two sources briefed on the situation.An attorney hired by Georgieva asked for the meeting in a 17-page letter on Friday to the dean of the bank's bo...Read More
(Updates prices, adds chart)LONDON, Oct 26 (Reuters) - Sterling rose to 20-month highs against the euro on Tuesday, driven by diverging interest rate expectations for Britain and the euro zone, especially after data showed UK full-time earnings rising by the most since 2008.Money markets are pricing in a rate hike by the Bank of England before the end of the year and expectations of further tighte...Read More
Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here! (Kitco News) - Yellow Cake, a specialistcompany operating in the uranium sector with a view to holding physical uraniumfor the long-term, today announced its intention to conduct a non-pre-emptiveplacing of new ordin...Read More
Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here! (Kitco News) - The gold market remains in a long-term uptrend. Still, it needsto get through its current consolidation period, according to one investmentfirm.In a report published Tuesday, analysts at Haywood Securi...Read More
WASHINGTON (Reuters) - Sales of new U.S. single-family homes surged to a six-month high in September, but higher house price are making homeownership less affordable for some first-time buyers.New home sales jumped 14.0% to a seasonally adjusted annual rate of 800,000 units last month, the highest level since March, the Commerce Department said on Tuesday. August's sales pace was revised down to 7...Read More
(Reuters) -Logitech International SA shares plunged 6% on Tuesday after the computer peripherals maker reported a steep fall in operating profit and said it was facing "unprecedented" supply chain problems.The maker of keyboards, mice and headsets became the latest company to warn about the difficulties getting enough semiconductor chips due to clogged up transport links and stuttering factory res...Read More
WASHINGTON, Oct 26 (Reuters) - The head of the U.S. Consumer Financial Protection Bureau, Rohit Chopra, will tell lawmakers on Wednesday that agency is the mortgage market and aims to minimize foreclosures of American homeowners, according to his prepared testimony.As he lays out an ambitious agenda before the House Financial Services panel, Chopra will monitor anticompetitive practices and ensure...Read More
BRUSSELS, Oct 26 (Reuters) - Draft EU rules to curb the power of Amazon (AMZN.O), Apple (AAPL.O), Alphabet (GOOGL.O) unit Google and Facebook (FB.O) should also tackle providers of cloud computing services for possible anti-competitive practices, a study said on Tuesday.The report comes amid concerns that some EU lawmakers who are reviewing the Digital Markets Act (DMA) proposed by EU anti...Read More
Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here! (Kitco News) - Osisko Development(TSX.V-ODV) today announced high-grade drilling results from the 2021exploration and category conversion drill program campaign at its Cariboo gold projectin central British Columbia....Read More
PARIS (Reuters) - ECB policymaker Francois Villeroy de Galhau said he hoped it would become compulsory for all corporates everywhere to disclose climate-related risks but that for this to be effective there would need to be internationally harmonised frameworks.Villeroy, who is the governor of France's central bank, said it was imperative policymakers were able to better understand and forecast th...Read More
Dr. Michael Gunning reportsVR COMPLETES 2021 DRILL PROGRAM AT HECLA-KILMER AND REPORTS FINAL DATA FROM 2020 WHICH CONFIRM THE REE AND CRITICAL METAL DISCOVERY AT H-KVR Resources Ltd. has completed thefall 2021 drill program at its Hecla-Kilmer (H-K) project in Northern Ontario, with five holes completed to target depths for a total of 2,604 metres. XRF scanning is currently being done on each dril...Read More
(Updates prices, adds chart)LONDON, Oct 26 (Reuters) - Euro zone inflation expectations among bond investors hit a new seven-year high above 2.07% on Tuesday, shooting past the European Central Bank's target on the back of soaring oil prices and supply chain crunches around the world.Oil prices reached multi-year highs this week on the back of tight global supply and strengthening fuel demand.This...Read More
Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here! (Kitco News) - Gold and silver prices arelower at midday Tuesday, on some normal backing and filling on the chartsfollowing recent gains. Both metals' bulls remain comfortable at present, asnear-term price uptrends...Read More
Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here! (Kitco News) - Sibanye-Stillwater (NYSE:SBSW), the world's largest primary producer of platinum and rhodium, announcedTuesday that it has signed definitive purchase and sale agreements withaffiliates of funds advised...Read More
By Eric Onstad LONDON, Oct 26 (Reuters) - About $1.5 trillion of investmentis needed to decarbonise electricity supplies used to makealuminium so the sector can start meeting United Nations climategoals, an industry group said on Tuesday. But that huge investment is only a portion of the fundsneeded so output of aluminium, one of the most energy intensemetals, can cut emissions by 2050, the Intern...Read More
(Kitco News) The fiscal and monetary disorder will trigger a move into alternative assets, and silver has the most "explosive" upside potential, said Tavi Costa, Crescat Capital portfolio manager."Silver is the cheapest metal on earth. And I will continue to buy it because it doesn't deserve the sub $30 an ounce price tag. We're going to see flows of capital coming into the space. It's a very th...Read More