Andrew OsbornMOSCOW (Reuters) - For U.S. President Donald Trump, a summit with Vladimir Putin risks a political backlash at home and abroad. For the Russian president, however, the fact the summit is even happening is already a big geopolitical win.Despite Russia’s semi-pariah status among some Americans and U.S. allies, the Kremlin has long been trying to arrange a summit, betting that Puti...Read More

(Reuters) - The United States signed an agreement with ZTE Corp (000063.SZ) that paves the way for the Chinese tech company to resume operations after a nearly three-month old ban on doing business with American suppliers, the U.S. Commerce Department said on Wednesday.The ban on China’s No. 2 telecommunications equipment maker will be removed once the company deposits $400 million in an esc...Read More

(Reuters) - U.S. stocks fell on Wednesday and looked set to snap their four-day winning streak after Washington’s threat to impose tariffs on an additional $200 billion worth of Chinese goods raised fears of an escalating trade war.China responded to Trump’s threats by accusing the United States of bullying and warned that it would hit back.The biggest drags on the Dow Jones Industrial...Read More

   •  US-China trade tensions-led global wave of risk aversion trade fail to revive the precious metal's safe-haven demand, with traders even shrugging off a modest USD retracement.    •  The fact that overnight recovery attempt was rejected near 100-hour SMA support-turned-resistance points to prevailing selling interest at higher levels, albeit $1248-4...Read More

WASHINGTON (Reuters) - The U.S. Senate overwhelmingly approved a non-binding motion on Wednesday that would give Congress a role in President Donald Trump's decisions to impose tariffs for national security reasons.As voting continued, 83 senators approved and 11 opposed the non-binding measure, part of an ongoing effort led by some of Trump's fellow Republicans who support free trade to push back...Read More

LONDON (Reuters) - OPEC on Wednesday forecast world demand for its crude will decline next year as growth in consumption slows and rivals pump more, pointing to the return of an oil market surplus despite an OPEC-led pact to restrain supplies.Giving its first 2019 forecasts in a monthly report, the Organization of the Petroleum Exporting Countries said the world would need 32.18 million barrels pe...Read More

Option bulls could be blindsided by a post-earnings retreatBig bank earnings will roll in on Friday, with JPMorgan Chase & Co. (NYSE:JPM) among the companies slated to report. While JPM stock is on pace for its best week in two months and on Monday enjoyed its biggest one-day percentage gain of 2018, the shares are now sending up a historical short-term "sell" signal on the charts.Since notching a...Read More

Commentary courtesy of srsroccoreportPOSTED BY SRSROCCO IN MINING, NEWS, PRECIOUS METALS ON JULY 10, 2018Is the U.S. Government hiding a massive gold deposit in the Chocolate Mountains in California? Well, according to a few top-notch conspiracy theorists, the U.S. Congress passed the Desert Wilderness Protection Act that has cordoned off this vast gold discovery from the public. Unfort...Read More

FRANKFURT (Reuters) - European Central Bank supervisors will give euro zone banks extra time to set cash aside against their bad loans if their pile of soured debt is particularly high, the ECB said on Wednesday.Under the new and long-awaited guidelines, the ECB’s Single Supervisory Mechanism will take “bank-specific supervisory expectations” for the provision of non-performing l...Read More

July 11 (Reuters) - Foreign direct investment in Chile hit $8.48 billion from January to April, its highest level since records began 15 years ago, thanks to a new law designed to attract investment, the government investment agency said on Wednesday.InvestChile, an arm of the economics ministry, said foreign direct investment (FDI) increased by 655 percent over the same period last year, and it w...Read More

July 11 (Reuters) - Foreign direct investment in Chile hit $8.48 billion from January to April, its highest level since records began 15 years ago, thanks to a new law designed to attract investment, the government investment agency said on Wednesday.InvestChile, an arm of the economics ministry, said foreign direct investment (FDI) increased by 655 percent over the same period last year, and it w...Read More

Hertz stock has been trending lower since its mid-October peakCar rental name Hertz Global Holdings Inc (NYSE:HTZ) is selling off today, last seen 3.6% lower at $14.90. This just echoes a broader trend for Hertz stock, which has been unable to stabilize since its mid-October annual peak. And while the stock is currently holding above the $14 mark -- which served as a floor in early June -- a rec...Read More

(Kitco News) - Gold and silver prices are solidly lower and near their daily lows in early-afternoon U.S. trading Wednesday. The precious metals sold off in sympathy with a slumping raw commodity sector today, after the U.S. hit China with another volley of trade sanctions. A higher U.S. dollar index today also is a negative for the precious metals markets. August gold futures were last down $10.9...Read More

LONDON (Reuters) - The Bank of England said on Wednesday there is too little choice of auditor for big banks who must switch book-keepers under European Union rules.Listed firms are required to “rotate” auditors at least every two decades to ensure there is a fresh and skeptical pair of eyes examining their books and challenging management.The audit sector is dominated by the Big Four:...Read More

NEW YORK (Reuters) - Stocks fell and metals prices slumped on Wednesday as U.S. threats of tariffs on an additional $200 billion worth of Chinese goods pushed the world’s two biggest economies closer to a full-scale trade war.U.S. President Donald Trump’s threat overnight of 10 percent tariffs on another $200 billion of Chinese goods dampened hopes that Washington will eventually step...Read More

COPENHAGEN (Reuters) - Facebook (FB.O) has removed “treason” as a keyword to identify its users’ interests for advertisers, it said on Wednesday, after Danish state broadcaster DR revealed its existence.In an article published on Wednesday, DR cited experts expressing concerns that the tag - that Facebook called an “interest category” - could be used by intelligence s...Read More

The precious metal is now at a major inflection point. It recently broke below its 5-year inverted H&S pattern.Gold is interesting because it acts as a barometer of global relative demand for $1 USD in earnings.And since we still believe that US markets will outperform EM into the end of the year, it then makes sense to be short gold. We've been short gold (NYSEARCA:GLD) since April and have s...Read More

LONDON (Reuters) - European stocks fell on Wednesday as an escalation in the U.S.-China trade dispute brought a six-session winning streak to an end.The pan-European STOXX 600 index fell 1.3 percent, while Germany's export-heavy DAX .GDAXI fell 1.5 percent.The Trump administration raised the stakes in the standoff with Beijing by threatening to impose 10 percent tariffs on a list of $200 billion...Read More

(Reuters) - U.S. stocks slid on Wednesday, led by industrial shares, after Washington’s threat to impose tariffs on an additional $200 billion worth of Chinese goods raised fears of an escalating trade war.U.S. officials on Tuesday issued a list of thousands of Chinese imports that the Trump administration wants to target with new tariffs. In response, China accused the United States of bull...Read More

NEW YORK (Reuters) - The U.S. economy is growing at a 3.9 percent annualized rate in the second quarter following the latest data on domestic wholesale inventory and producer prices, the Atlanta Federal Reserve's GDPNow forecast model showed on Wednesday.The latest estimate on gross domestic product growth was faster than the 3.8 percent pace estimated on July 6, the Atlanta Fed said.Reporting by...Read More