Feb 14 (Reuters) - Wall Street's main indexes inched higher on Wednesday morning, reversing course from losses earlier in the session that were sparked by stronger-than-expected inflation data.The Dow Jones Industrial Average rose 28.14 points, or 0.11 percent, to 24,668.59. The S&P 500 gained 10.09 points, or 0.39 percent, to 2,673.03. The Nasdaq Composite added 55.47 points, or 0.79 percent,...Read More
(Kitco News) - Goldprices are posting sharp gains of around $20 an ounce inlate-morning action Wednesday. A volatile day in the U.S. stock market ishelping to boost safe-haven gold. U.S. stock indexes were poised to open theU.S. day session modestly up, but then dropped sharply in the immediateaftermath of a hotter-than-expected U.S. consumer inflation report. Since thenthe stock indexes have boun...Read More
Universal Display Corporation (NASDAQ:OLED) stock is up 8.1% to trade at $157.91, afterthe electronics supplier reached a long-term licensing deal with Samsung's display business -- which supplies Apple (AAPL) with organic light-emitting diode (OLED) screens. The deal will run through 2022, with the option for extension. After touching a record high of $209 on Jan. 19, Universal Display stock sol...Read More
Canada-listed Fura Gems (TSX-V:FUR), a new gemstone mining and marketing company headed by former COO of Gemfields (LON:GEM) Dev Shetty, is stepping up efforts to kick off operations at some of its key assets and so take advantage of a growing demand for coloured precious rocks.The company, which began operations less than a year ago, in May 2017, has good reasons to be in a rush. Sales of emeral...Read More
Canada-listed Fura Gems (TSX-V:FUR), a new gemstone mining and marketing company headed by former COO of Gemfields (LON:GEM) Dev Shetty, is stepping up efforts to kick off operations at some of its key assets and so take advantage of a growing demand for coloured precious rocks.The company, which began operations less than a year ago, in May 2017, has good reasons to be in a rush. Sales of emeral...Read More
(Kitco News)- Gold investors should feel a little more confident as theyellow metal has proven resilient following a sharp selloff after U.S.inflation data shocked financial markets.Wednesday morning has been volatile for the gold market,which is just off session highs, recovering from a $14 drop following mixedU.S. economic data from January; the Consumer Price Index showed inflation washotter th...Read More
(Kitco News) - Goldprices have pushed to new daily highs and are solidly up on theday, in late-morning trading Wednesday. Some safe-haven demand is featured asthe U.S. stock indexes are showing a significant increase in daily volatilityso far Wednesday. Chart-based buying interest is also featured in gold futuresas buy stop orders were triggered when prices moved to a new high for the week.April C...Read More
Retailer Target Corporation (NYSE:TGT) scored an upgrade to "outperform" from "neutral" at Baird today, along with a price-target hike to $85 from $75, with the brokerage firm waxing optimistic on same-day delivery prospects and exclusive brand launches, among other things. TGT shares yesterday popped above their 10-day moving average for the first time since Jan. 24 -- a day after the stock touch...Read More
Beleaguered burrito chain Chipotle Mexican Grill, Inc. (NYSE:CMG) is catching a lift this morning, as traders cheer reports that the company has hired Taco Bell boss Brian Niccol -- the mastermind behind the Doritos Locos Taco -- as its new CEO. Niccol is slated to replace Chipotle founder Steve Ells in the top job as of March 5.The news has CMG trading sharply higher this morning, up 13.3% at $28...Read More
Shares of Fossil Group Inc (NASDAQ:FOSL) have gapped nearly 82% higher in electronic trading -- set to soar to their highest point since an early May bear gap, and poised for their best day ever -- after the watchmaker reported better-than-expected fourth-quarter earnings and revenue, citing strong demand for wearables. The retailer also said same-store sales jumped 2% in the last three months of...Read More
Gold “fulfilled its role” by providing liquidity when investorsneeded it during a recent sell-off in global equities, says Standard Chartered.Whereas such stock-market sell-offs sometimes lead to safe-haven buying, golddeclined in this instance, with a number of analyst saying some investorsliquidated their gold holdings to raise needed cash. “While gold’s price weakness ma...Read More
Stock futures are cratering this morning, dragged lower by a bigger-than-anticipated rise in inflation data. The consumer price index (CPI) rose by 0.5% in January amid "broad-based" price increases -- marking the largest gain in five months, and exceeding consensus estimates for a 0.3% uptick. Dow Jones Industrial Average (DJI) futures are trading over 300 points below fair value, while S&P 50...Read More
• Improving risk appetite now seemed to cap gains. • US CPI/monthly retails sales to provide fresh impetus. Gold trimmed some of its early gains to 6-day tops but has still managed to hold with minor gains for the third consecutive session. Spot prices touched an intraday high near the $1337 region and the up-move was being supported by some follow-th...Read More
Canada's IAMGOLD Corp. (TSX IMG), (NYSE: IAG) has kicked off a feasibility study for its C??t?(C) Gold Project, located in the Abitibi gold belt in Ontario, and said a construction decision should be made in the first half of 2019.Last year, the Toronto-based miner sold a 30% interest in the proposed open pit mine to Japan's Sumitomo Metal Mining, the Asian nation's No. 1 gold producer, but it re...Read More
Canada's IAMGOLD Corp. (TSX IMG), (NYSE: IAG) has kicked off a feasibility study for its C??t?(C) Gold Project, located in the Abitibi gold belt in Ontario, and said a construction decision should be made in the first half of 2019.Last year, the Toronto-based miner sold a 30% interest in the proposed open pit mine to Japan's Sumitomo Metal Mining, the Asian nation's No. 1 gold producer, but it re...Read More
(Kitco News) - Goldprices are moderately lower in the wake of a U.S. consumer price index reportthat was hotter than market expectations. The CPI report also pressured theU.S. stock market and U.S. Treasury yields rose. The U.S. dollar index rallied onthe news. April Comex gold futures were last down $4.50 an ounce at $1,325.90.March Comex silver was last down $0.123 at $16.405 an ounce.Thebig U.S...Read More
(Kitco News)- Goldprices have lost some of their lusteras inflation picked up more thanexpected in the first month of the new year.Wednesday,the U.S. Labor Department said its U.S. Consumer Price Index rose 0.5% inJanuary, after increasing 0.3% in December. The increase was stronger thanexpected as consensus forecasts were calling for a 0.2% increase.The report said that annual inflation rose 2.1%...Read More
The Consumer Price Index is ameasure that examines the weighted average of prices of a basket of consumergoods and services, such as transportation, food and medical care. It iscalculated by taking price changes for each item in the predetermined basket ofgoods and averaging them. Changes in the CPI are used to assess price changesassociated with the cost of living; the CPI is one of the most freq...Read More
Mr. Mark Kolebaba reportsADAMERA DRILLING CONFIRMS SULFIDE MINERALIZATION AT SE-01 - FOLLOW UP DRILLING UNDERWAYAdamera Minerals Corp.'s first hole on the SE-01 VTEM target at its Cooke Mountain project in Washington State is mineralized with sulphides and magnetite.The drill hole intersected a thick zone with both semi-massive and disseminated sulphides over a 120-metre core length.Mineralization...Read More
Mr. Mark Kolebaba reportsADAMERA DRILLING CONFIRMS SULFIDE MINERALIZATION AT SE-01 - FOLLOW UP DRILLING UNDERWAYAdamera Minerals Corp.'s first hole on the SE-01 VTEM target at its Cooke Mountain project in Washington State is mineralized with sulphides and magnetite.The drill hole intersected a thick zone with both semi-massive and disseminated sulphides over a 120-metre core length.Mineralization...Read More