GoldcorpInc. (TSX: G, NYSE: GG) announces plans to buy back shares for cancellation.The company says it has received approval from the Toronto Stock Exchange forits “notice of intention to make a normal course issuer bid." This wouldallow Goldcorp to purchase for cancellation up to 43.5 million common shares,representing 5% of its 869.5 million outstanding shares as of Oct. 26 over a12-...Read More
Investors started pulling money out of the leveraged volatility fund just as VIX ramped higher in OctoberThe following is a reprint of the market commentary from the November 2018 edition of The Option Advisor, published on October 26. For more information, or to subscribe to The Option Advisor -- featuring 10 new option trades each month -- visit our online store.The ProShares Ultra VIX Short-Ter...Read More
Goldcorp Inc. (TSX: G, NYSE: GG) announces plans to buy back shares for cancellation. The company says it has received approval from the Toronto Stock Exchange for its “notice of intention to make a normal course issuer bid." This would allow Goldcorp to purchase for cancellation up to 43.5 million common shares, representing 5% of its 869.5 million outstanding shares as of Oct. 26 over...Read More
Stocks will try to recover some of last week's lossesU.S. stocks will try to bounce back from last week's pullback, with Dow Jones Industrial Average (DJI) futures trading well above fair value this morning. Traders are preparing for another heavy dose of corporate earnings, though the major releases, such as Apple's (AAPL) quarterly report, aren't due out until later in the week. Still, there's p...Read More
(Reuters) - IBM Corp said on Sunday it had agreed to acquire U.S. software company Red Hat Inc for $34 billion, including debt, as it seeks to diversify its technology hardware and consulting business into higher-margin products and services.The transaction is by far IBM’s biggest acquisition. It underscores IBM Chief Executive Ginni Rometty’s efforts to expand the company’s subs...Read More
(Reuters) - China’s top economic planning body is proposing to cut the tax levied on car purchases by half, as the impact of an escalating trade war with the United States threatens to slow the Chinese economy and affect demand for vehicles, Bloomberg reported on Monday.Shares of American and European automakers including General Motors (GM.N), BMW (BMWG.DE), Volkswagen (VOWG_p.DE) and Daiml...Read More
* Nikkei down 0.16 pct, Topix loses 0.4 pct* Bargain hunting helps limit overall losses* Hitachi Chemical slides after reports of data falsificationBy Shinichi SaoshiroTOKYO, Oct 29 (Reuters) - Japanese stocks slipped on Monday as further weakness in U.S. and Chinese shares dampened investor sentiment, although bargain hunting helped limit overall losses.The Nikkei swerved in and out of the red in...Read More
"Rio Tinto and Chinalco could not agree on a deal for Rio's 45% share of the troubled #Simandou iron ore project in Guinea ($) | https://t.co/hdji4TNNHj $RIO"Read full newsRead More
While 200-day breaks can precede accelerated selling, they can also mark bottoms"...traders -- specifically, equity option buyers -- have suddenly soured on the market... this group was buying equity put options relative to call options at a rate similar to that which marked the bottom of the February and March correction. By the end of the week, this ratio climbed to its highest level since Augus...Read More
The above chart shows daily price action. XAUUSD looks to have broken out of a pennant pattern (green converging lines). Pennants are continuation patterns. The target of the pennant is near $1,260. However, there is overhead resistance around the $1,240 area (red horizontal). If the precious metal is to make any further gains towards the target it needs to break above this resistance....Read More
SHANGHAI (Reuters) - China's yuan closed at its weakest in over a decade on Monday, losing 0.16 percent to end the domestic session at 6.9560 per dollar CNY=CFXS, stirring speculation over whether the central bank will tolerate a slide beyond the key level of 7 per dollar.Broad dollar strength, as concerns swirl over risks of a global economic slowdown, was the main influence in the currency mark...Read More
NEW YORK (Reuters) - Three former London-based currency traders were found not guilty on Friday of U.S. charges that they schemed to rig benchmark exchange rates, the latest verdict to emerge from a U.S. probe into the multitrillion-dollar foreign exchange market.Chris Ashton, Rohan Ramchandani and Richard Usher, who worked at Barclays Plc, Citigroup Inc and JPMorgan Chase & Co, respectively,...Read More
(Kitco News) - Gold prices remained slightly softer, moving little after the government reported U.S.personal spending rose 0.4% in September, while the core personal consumption priceindex rose 0.2%. Spot gold was last down $2.60 to $1,230.20 an ounce. The governmentalso reported that income also rose by 0.2% in September. Ahead oftime, most consensus forecasts compiled by news organizations call...Read More
(Kitco News) - Gold prices remained slightly softer, moving little after the government reported U.S. personal spending rose 0.4% in September, while the core personal consumption price index rose 0.2%. Spot gold was last down $2.60 to $1,230.20 an ounce. The government also reported that income also rose by 0.2% in September. Ahead of time, most consensus forecasts compiled by news organizations...Read More
I started scrolling throughthe pieces and they are edgy cool and current. (Kitco News)- I vividly remember during asummer vacation when I swapped with a best friend of the moment, my goldbracelet for a silver one. I thought a bracelet, was a bracelet - a gesture offriendship.Only until I got home and sharedthe news, did I learn (or more like, I was scolded) -- on how in the worldcould I swap gold...Read More
I started scrolling through the pieces and they are edgy cool and current. (Kitco News) - I vividly remember during a summer vacation when I swapped with a best friend of the moment, my gold bracelet for a silver one. I thought a bracelet, was a bracelet - a gesture of friendship. Only until I got home and shared the news, did I learn (or more like, I was scolded) -- on how in the world could I...Read More
(Kitco News) - Gold prices aremodestly down in early U.S. trading Monday, on a normal corrective pullbackthat saw prices hit a more-than-three-month high on Friday. A firmer U.S.dollar index to start the trading week is also working against the preciousmetals market bulls. December gold futures were last down $3.50 an ounce at $1,232.30.December Comex silver was last up $0.015 at $14.72 an ounce....Read More
Gold’s near-term fortunes may well hingeon U.S. equities, says INTL FCStone. The metal closed higher last week for thefourth straight week for the longest such winning streak since January, thefirm points out. Meanwhile, stocks were on pace for their worst monthly declinein October in eight years, although the futures market is pointing to a higheropen for equities on Wall Street Monday morn...Read More
Gold’s near-term fortunes may well hinge on U.S. equities, says INTL FCStone. The metal closed higher last week for the fourth straight week for the longest such winning streak since January, the firm points out. Meanwhile, stocks were on pace for their worst monthly decline in October in eight years, although the futures market is pointing to a higher open for equities on Wall Street Monday...Read More
"Where will global growth come from in the next five years? https://t.co/dGkhQ90Rg4"Read full newsRead More