Bank stocks are higher ahead of earnings seasonThe Dow Jones Industrial Average (DJI) is over 250 points higher at midday, as Friday's landmark jobs report has the blue-chip index on pace for its best day in more than a month. The trade war tensions that have plagued Wall Street in recent months have seemingly waned, and bank stocks are leading the charge ahead of second-quarter earnings season...Read More
Tailored Brands stock was an outperformer until hitting its mid-May peakRetail name Tailored Brands Inc (NYSE:TLRD) was an outperformer until its mid-May annual peak, but has since retreated back to a key trendline. And althoughthe Men's Warehouse parent isdown 0.5% to trade at $25.08 today,the stock's recent pullback could be a prime buying opportunity, if history is any guide. TLRD had been cl...Read More
(Bloomberg) - Impala Platinum Holdings Ltd. is facing some tough choices as the South African miner works to stem losses at aging shafts amid slumping prices for the metal.The world's second-largest producer has already cut 2,500 jobs in the year through June and says there may be more to come. Only three of the 10 shafts at its sprawling Rustenburg mining complex were making money as of March. T...Read More
(Bloomberg) - Impala Platinum Holdings Ltd. is facing some tough choices as the South African miner works to stem losses at aging shafts amid slumping prices for the metal.The world's second-largest producer has already cut 2,500 jobs in the year through June and says there may be more to come. Only three of the 10 shafts at its sprawling Rustenburg mining complex were making money as of March. T...Read More
(Bloomberg) - BP Plc has emerged as the front-runner to buy BHP Billiton Ltd.'s onshore oil and gas operations in the U.S., according to a person familiar with the matter.The London-based oil major has made the highest offer for the assets, which BHP prefers selling in a single package, said the person, who asked to not be identified because the matter isn't public.A deal hasn't been completed an...Read More
From Amazon, CVS, and AirBnB, early investment is the key to earning big.Any investor who wants to rake in big profits only really needs to know one thing:The biggest fortunes in the world right now are being made in technology.Take the following example:Amazon is now the world's third largest retailer, just behind Wal-Mart and CVS...Airbnb now offers more rooms than Hilton, InterContinental and M...Read More
The options market is pricing in an unusually large post-earnings move for PEP stockPepsiCo, Inc. (NASDAQ:PEP) will be in focus before the open tomorrow, when the company will release its second-quarter earnings results. PEP stock actually posted its best post-earnings performance in at least two years back in April when it popped 2.1%, which also marked a third straight positive earnings reaction...Read More
MELBOURNE, July 9 (Reuters) - Canadian miner Barrick Gold Corp and China's Shandong Gold on Monday said they would deepen cooperation beyond their Argentinian joint venture, potentially working together on acquisitions.Barrick Gold, the world's largest producer of bullion, last year signed a near billion-dollar deal to sell Shandong a 50-percent stake in its Veladero mine in Argentina. The develop...Read More
MEXICO CITY (Reuters) - Canadian, Mexican and U.S. auto trade associations on Monday urged a "renewed focus" in talks to reshape the North American Free Trade Agreement, saying all parties should return to the negotiating table now for a "cohesive three-country" deal."It is in the best interest of all three countries to refocus on establishing a new NAFTA agreement that wi...Read More
LONDON (Reuters) - Global shares hit a two-week high on Monday as favorable U.S. jobs data whetted risk appetites, while sterling brushed off the resignation of two ministers over Britain's departure from the EU, with traders focused on the likelihood of a "soft Brexit".The MSCI world equity index .MIWD00000PUS, which tracks shares in 47 countries, rose 0.4 percent, while the pan-Europea...Read More
LONDON (Reuters) - Oil prices rose on Monday as increased global demand and U.S. efforts to shut out Iranian output through the use of sanctions outweighed drilling data suggesting that U.S. shale production would climb.Benchmark Brent crude oil LCOc1 was up 60 cents at $77.71 a barrel by 1330 GMT. U.S. light crude CLc1 rose 10 cents to $73.90."Oil prices are starting the week on the front fo...Read More
(Reuters) - U.S. stocks rose on Monday, with bank stocks leading third day of gains in a row after strong U.S. jobs data from last week helped investors brush aside trade concerns.The S&P financial index rose 1.3 percent, providing the biggest boost to the main S&P index. But gains were widespread, with technology, energy, industrials, consumer discretionary and healthcare stocks rising.Th...Read More
Metals and minerals prices have come a long way since hitting multi-year lows late-2015, early 2016.Copper is up by nearly half, recent weakness notwithstanding. Zinc's nearly doubled since then and nickel bulls (suddenly aplenty) have achieved the same for devil's copper, the only major metal in positive territory for 2018.Gold has gained 20% from lows hit mid-December 2015; technically a bull...Read More
NEW YORK (Reuters) - The 10-year U.S. Treasury note that debuted in August 2016 when the bond market was near its peak has had a rough ride, its price falling ever since and no reprieve in sight.Welcome to the new U.S. Treasury market, where 75 percent of existing government bonds are now trading below par.Despite high demand at auction, the price of the August 2016 bond began falling the day it h...Read More
Metals and minerals prices have come a long way since hitting multi-year lows late-2015, early 2016.Copper is up by nearly half, recent weakness notwithstanding. Zinc's nearly doubled since then and nickel bulls (suddenly aplenty) have achieved the same for devil's copper, the only major metal in positive territory for 2018.Gold has gained 20% from lows hit mid-December 2015; technically a bull...Read More
Metals and minerals prices have come a long way since hitting multi-year lows late-2015, early 2016.Copper is up by nearly half, recent weakness notwithstanding. Zinc's nearly doubled since then and nickel bulls (suddenly aplenty) have achieved the same for devil's copper, the only major metal in positive territory for 2018.Gold has gained 20% from lows hit mid-December 2015; technically a bull...Read More
July 9 (Reuters) - Miner Yancoal Australia said on Monday that production at the Austar coking coal mine in New South Wales state would be halted until it resolves a dispute with the state regulator over a resumption of operations.Yancoal said it will start standing down employees, and is aiming to redeploy most workers to other underground operations owned by the company.The miner is seeking a re...Read More
BEIJING (Reuters) - China's financial regulator has told banks to "significantly cut" lending rates for small firms in the third quarter in comparison with the first quarter, two people with direct knowledge of the matter told Reuters on Monday.The move comes amid a Chinese deleveraging campaign to crack down on financial risks and economic uncertainty triggered by a trade war with the U...Read More
TOKYO (Reuters) - The Bank of Japan maintained its upbeat economic assessment for all nine regions of the country but some areas saw companies fret about rising costs from labor shortages, a sign that a tightening job market could constrain business activity.In a quarterly report on regional conditions, the central bank on Monday said all areas were either recovering or expanding, thanks to robust...Read More
* Bond yields edge up* Mario Draghi speaks to European parliament later in day* Hefty week for euro debt supply* Euro zone periphery govt bond yields tmsnrt.rs/2ii2Bqr (Updates prices, adds fresh quote)LONDON, July 9 (Reuters) - Government bond yields in the euro area crept up on Monday, giving up declines seen after Friday's U.S. non-farm payrolls data, as a stronger tone in world equity markets...Read More