Stocks have once again erased early losses, with all major indexes trading higher at midday. Specifically, the Dow Jones Industrial Average (DJI) was up more than 300 points at its intraday peak, with all but four of the Dow's 30 stocks higher at last check. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) have also managed toturn higher, as traders eye the latest round of corporate earning...Read More
By Benet KolekaTIRANA, Feb 7 (Reuters) - Albania's central bank held its benchmark interest rate at the record low of 1.25 percent on Wednesday, and its governor promised to pursue a stimulative monetary policy until October.The bank also held rates for one-day deposits at 0.25 percent and one day-lending at 2.25 percent."First, we reconfirm the intensity of monetary stimulus will not diminis...Read More
Suresh Withana from Harmony Capital, the investment manager for Adamas Finance Asia (LON:ADAM), talks Proactive through the company's new investment strategy.Harmony Capital were appointed in May last year to broaden the fund's investment focus and grow the business.''We're investing for the long term therefore we don't focus on any particular industry, however things like healthcare, these are se...Read More
* Dollar index up as Wall Street trades higher* Euro slips on disappointment over finance minister reports* Greenback up half a percent vs Swiss franc (New throughout; updates market activity; changes byline, dateline, previously LONDON)By Stephanie KellyNEW YORK, Feb 7 (Reuters) - The U.S. dollar rose on Wednesday against most major currencies, even as gains on Wall Street dimmed the greenback's...Read More
(Kitco News)- Equity markets continue torecover from Monday’s flash crash and while volatility is back, it would take amuch bigger correction to boost gold and precious-metals prices on a safe-haventrade, according to one commodity analyst.In a telephone interview withKitco News, Martin Murenbeeld, president of Murenbeeld & Co., said thatwhile the drop in equity markets was shocking -- t...Read More
(Kitco News) - Equity markets continue to recover from Monday’s flash crash and while volatility is back, it would take a much bigger correction to boost gold and precious-metals prices on a safe-haven trade, according to one commodity analyst.In a telephone interview with Kitco News, Martin Murenbeeld, president of Murenbeeld & Co., said that while the drop in equity markets was shockin...Read More
SAO PAULO, Feb 7 (Reuters) - Latin American equities markets were steady or in the black across the region on Wednesday, as traders showed cautious optimism after an equities rout on Wall Street appeared to putter out.Brazil's benchmark Bovespa index showed little change, down 0.03 percent in afternoon trade, while Chile's benchmark IPSA jumped 0.44 percent. Among major regional equities markets,...Read More
Gold and the gold ETF break key levels as the safety bid reverses.Dollar strength and lifting of the financial market panic are the culprits.The longer-term gold recovery remains intact despite short-term pressures.Almost as quickly as it began, gold's safe-haven bid was reversed on Tuesday as the broad U.S. equity market retraced an earlier decline and closed sharply higher to snap a 6-day losing...Read More
(Updates headline to clarify JV targets growth in platinum group metals mining)MOSCOW, Feb 7 (Reuters) - Russia's Norilsk Nickel , the world's leading palladium producer, said in a statement on Wednesday it is planning a joint venture with Russian Platinum, to expand mining of metals belonging to the platinum group. Nornickel's co-owner, billionaire Vladimir Potanin, was cited by RIA news agency...Read More
Using more than 1,000 different chemicals, unconventional oil and gas (UOG) operations combine directional drilling and hydraulic fracturing, or "fracking," to release natural gas from underground rock. Today, researchers at the University of Missouri and the University of Massachusetts released a study that found that female mice exposed to mixtures of chemicals used in UOG operations during pr...Read More
Biotech stocks Array Biopharma Inc (NASDAQ:ARRY) and Myriad Genetics, Inc. (NASDAQ:MYGN) received some bullish analyst attention this morning, although only one stock is higher at last check. Below, we'll take a closer look at the brokerage notes, and how ARRY and MYGN stocks are reacting.Analysts Chime In On ARRY's Upbeat Melanoma TrialArray Biopharma stock is up 5% to trade at $17.10, and jus...Read More
The brutal broad-market pullback this month has impacted most stocks, presenting buying opportunities for speculators who believe the long-term rally will resume. Among some of the best stocks to buy after big dips, historically, include cloud concerns Citrix Systems, Inc. (NASDAQ:CTXS) and Salesforce.com, Inc. (NYSE:CRM). Below, we take a look at CTXS and CRM stocks, which could be on sale right...Read More
Alan Broome, chairman of Strategic Minerals Plc (LON:SML), tells Proactive's Andrew Scott they've hired Jeff Harrison as a Non-Executive Director.Over the last year Harrison's been a consultant to Cornwall Resources Limited, the joint venture to which Strategic Minerals owns 50%.Broome says Jeff's experience will be invaluable as they advance Redmoor through to operations. Meet Anglo Asian M...Read More
(Kitco News) - Gold would face somecross-currents from rising inflation expectations, benefitting as an inflationhedge but also facing potential selling as Treasury yields rise, saysMitsubishi in a weekly report on precious metals.Meanwhile, strategist JonathanButler points out that palladium’s premium over platinum is slowlydisappearing.Global equities sold off sharplyat the start of the we...Read More
(Kitco News) - Gold would face some cross-currents from rising inflation expectations, benefitting as an inflation hedge but also facing potential selling as Treasury yields rise, says Mitsubishi in a weekly report on precious metals. Meanwhile, strategist Jonathan Butler points out that palladium’s premium over platinum is slowly disappearing. Global equities sold off sharply at the start o...Read More
Shares of resort and casino company Wynn Resorts, Ltd. (NASDAQ:WYNN) are soaring after CEO Steve Wynn stepped down amid recent sexual misconduct claims. Wynn appointed the company's president, Matt Maddox, as his successor, and in response, the casino stock has received a handful of mixed analyst reactions. Specifically, WYNN was upgraded by J.P. Morgan Securities to "overweight" from "neutral,"...Read More
Options traders are cheering well-received earnings from Akamai Technologies, Inc. (NASDAQ:AKAM), with shares of the cloud stock up 7.2% this morning at $68.25. Call buying was extremely popular leading up to the event, evidenced by a 10-day call/put volume ratio of 4.63 at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), a reading tha...Read More
Shares of Snap Inc (NYSE:SNAP) have surged 22.5% out of the gate to trade at $17.24, lifting fellow social media stock Twitter (TWTR) along with it. The Snapchat parent reported better-than-expected fiscal third-quarter revenue of $285.7 million, and said its daily active users jumped 18% year-over-year to 187 million -- more than analysts were expecting. The company's adjusted quarterly loss of 1...Read More
Exchange-traded-fund holdings of gold and palladium have fallen,says Commerzbank. Gold prices slid Tuesday as the Dow JonesIndustrial Averagegained nearly 5% from its low to its high. “The price slide was accompanied byhigh outflows from the gold ETFs. Holdings in the gold ETFs tracked byBloomberg were reduced by 7.4 tonnes in all, while the SPDR Gold Trust in theU.S. even lost a good 12 ton...Read More
Stock futures are once again pointed lower, after Tuesday's incrediblyvolatile session that saw the Dow Jones Industrial Average (DJI) trade in a more than 1,100-point range before ending higher. Today, however, Dow futures are pointing to a triple-digit drop, while S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) futures are alsoin the red. Along with the latest batch of earnings reports, trade...Read More