TSLA shares are also on track for their sixth weekly loss in sevenShares of Tesla Inc (NASDAQ:TSLA) are trading up 1.8% at $299.29, after CEO Elon Musk replied to a report in The Economist criticizing the electric car company's cash flow. Specifically, in response to an article entitled "Tesla is heading for a cash crunch," Musk tweeted, "Tesla will be profitable & cash flow+ in Q3 & Q4, so obv no...Read More

(Reuters) - U.S. stocks opened higher on Friday after a trio of big banks reported strong quarterly results, while geopolitical risks and concerns over trade war eased.The Dow Jones Industrial Average rose 140.59 points, or 0.57 percent, to 24,623.64. The S&P 500 gained 14.45 points, or 0.542419 percent, to 2,678.44. The Nasdaq Composite added 39.68 points, or 0.56 percent, to 7,179.92.Reporti...Read More

Have ABBV shares bottomed? It was a strong start to the year for Humira maker AbbVie Inc (NYSE:ABBV), with the shares rallying to a record high of $125.84 back on Jan. 26 thanks to a strong earnings report and outlook. But disappointing news surrounding the drugmaker's Rova-T treatment a few weeks back resulted in a massive bear gap, ultimately sending ABBV below the $90 for the first time since O...Read More

MUMBAI/BENGALURU, April 13 (Reuters) - Physical gold demand in second-biggest consumer India saw an uptick this week ahead of a key festival, although higher prices weighed on sentiment across the broader Asian markets.Next week Indians will be celebrating the annual festival of Akshaya Tritiya, when buying gold is considered auspicious."Many potential buyers were on the sidelines. They started bu...Read More

MOSCOW (Reuters) - The new round of U.S. sanctions against Russia will have a “severe effect” on targeted companies and will limit Russia’s potential economic growth, Fitch Ratings said on Friday.The U.S. Treasury on April 6 announced sanctions on seven Russian oligarchs and 12 companies they own or control, saying they were profiting from a Russian state engaged in “malign...Read More

BOSTON (Reuters) - The Federal Reserve will probably need to raise interest rates at least three more times this year in the face of a robust U.S. economy, even while possible trade disruptions pose risks, a top Fed policymaker said on Friday.Boston Fed President Eric Rosengren painted an optimistic picture of strong U.S. job growth, a small rise in inflation, and above-average economic growth. Bu...Read More

(Reuters) - Wells Fargo & Co (WFC.N) has been offered a penalty of $1 billion by regulators to resolve outstanding investigations related to auto insurance and mortgage lending abuses, the third-largest U.S. bank by assets said on Friday.Reuters reported on Monday that the Consumer Financial Protection Bureau and Office of the Comptroller of the Currency were preparing a fine of up to $1 billi...Read More

NetApp stock has added over 70% year-over-yearNetApp Inc. (NASDAQ:NTAP) stock is hitting fresh highs again, after J.P. Morgan Securities initiated coverage with an "overweight" rating and price target of $80. The analyst in coverage likes NetApp's strong balance sheet and the newfound focus on software. This comes after Maxim yesterday chimed in with a price-target hike of its own, to $81 from $70...Read More

LONDON, April 13 (Reuters) - Rio Tinto said it will declare force majeure on certain customer contracts after the U.S. imposed sanctions on its partner Russian aluminium producer Rusal.The mining group said on Friday it was working with its customers to minimise disruptions to supply and would fully comply with U.S. sanctions.Rio also said it was reviewing Rusal's 20 percent stake in the Queenslan...Read More

(Kitco News) - Gold prices have erased mild early losses and are trading slightlyhigher and at the daily highs in morning dealings Friday. Buyers have steppedin to buy the dip, ahead of what is an uncertain weekend on the geopoliticalfront. President Trump has threatened to hit Syria with missiles, but thetiming of any strike is uncertain. Still, there is the possibility the U.S. could hit Syria w...Read More

Netflix is set to report its first-quarter earnings on after the close on Monday April 16Shares of streaming concern Netflix, Inc. (NASDAQ:NFLX) are moving higher, after Deutsche Bank upgraded the stock to "buy" from "hold," and hiked its price target to $350 from $240. The brokerage firm said Netflix has "changed the industry in a profound way," and expects it to have 217 million international su...Read More

(Kitco News) - Gold prices have erased mild early losses and are trading slightly higher and at the daily highs in morning dealings Friday. Buyers have stepped in to buy the dip, ahead of what is an uncertain weekend on the geopolitical front. President Trump has threatened to hit Syria with missiles, but the timing of any strike is uncertain. Still, there is the possibility the U.S. could hit Syr...Read More

HARARE, April 13 (Reuters) - Zimbabwe is looking to sell shares in 35 state-owned firms, including telecoms and mining entities in the latest step to revive the economy under new political leadership, Finance Minister Patrick Chinamasa said on Friday.President Emmerson Mnangagwa, who came to power in November after a de facto military coup forced Robert Mugabe to resign, has made reviving the econ...Read More

MEXICO CITY (Reuters) - Two U.S. pension funds filed a proposed class action in New York on March 30 against financial institutions in the market for Mexican government bonds, alleging they conspired to fix prices.The suit stems from an investigation, announced by the Federal Commission for Economic Competition, or Cofece, in April 2017 into possible breaches of competition laws in the public debt...Read More

Based on thetrading levels and decreasing volume in the GDX over the past 18 months, theprecious metal miner sector has been drifting listlessly sideways and totally devoid of excitement.Gold stock volatility levels are dropping down to unsustainably low values andperiods of low volatility lead to sharp moves. The major miner ETF opened thisweek in the $22 region, which is the same level it was tr...Read More

LONDON/HONG KONG, April 13 (Reuters) - China Molybdenum International (CMOC) Chief Executive Kalidas Madhavpeddi has left the company and the parent group's Executive Chairman Chaochun Li has replaced him as acting CEO.A China-based spokesman said the move was a normal personnel change, adding "having the chairman serve as overseas CEO at the same time shows the company's emphasis on the overseas...Read More

Based on the trading levels and decreasing volume in the GDX over the past 18 months, the precious metal miner sector has been drifting listlessly sideways and totally devoid of excitement. Gold stock volatility levels are dropping down to unsustainably low values and periods of low volatility lead to sharp moves. The major miner ETF opened this week in the $22 region, which is the same level it w...Read More

LONDON/HONG KONG, April 13 (Reuters) - China Molybdenum International (CMOC) Chief Executive Kalidas Madhavpeddi has left the company and the parent group's Executive Chairman Chaochun Li has replaced him as acting CEO.A China-based spokesman said the move was a normal personnel change, adding "having the chairman serve as overseas CEO at the same time shows the company's emphasis on the overseas...Read More

WASHINGTON (Reuters) - U.S. President Donald Trump attacked former FBI Director James Comey on Friday as a “weak and untruthful slime ball,” reacting to news accounts that cite Comey as searingly critical of the president in a memoir due to be published next week.“It was my great honor to fire James Comey!” Trump said in a series of angry Twitter messages, adding he had bee...Read More

(Reuters) - Citigroup Inc (C.N) reported a higher-than-expected quarterly profit on Friday, driven by strength in its consumer banking business and a surge in equities trading.Global consumer banking revenue increased 7 percent on gains in North America, Mexico and Asia. Equity markets revenue jumped 38 percent, gaining from increased volatility in the quarter.Shares of the fourth-biggest U.S. ban...Read More