* Caterpillar rises 1 percent after higher retail sales* Airline stocks down after United Continental's report* Mnuchin's remark sparks declines in dollar* Indexes up: Dow 0.41 pct, S&P 0.26 pct, Nasdaq 0.16 pct (Updates to open)By Sruthi ShankarJan 24 (Reuters) - The Dow Jones Industrial Average was up more than 100 points on Wednesday morning, powered by gains in industrial stocks such as GE...Read More
(Adds background on inflation expectations, details on analyst rate hike expectations)MEXICO CITY, Jan 24 (Reuters) - Mexican annual inflation slowed more than analysts expected in the first half of January, data from the national statistics agency showed on Wednesday, but the central bank was still seen raising interest rates at its February meeting. As predicted earlier this month by Banco de Me...Read More
WASHINGTON, Jan 24 (Reuters) - U.S. home sales fell more than expected in December as the supply of houses on the market dropped to a record low, pushing up prices and likely sidelining some first-time buyers. The National Association of Realtors said on Wednesday that existing home sales declined 3.6 percent to a seasonally adjusted annual rate of 5.57 million units last month amid decreases in a...Read More
HANOI, Jan 24 (Reuters) - Vietnam's main stock exchange will reopen on Thursday after a two-day closure due to technical issues, the first such incident in almost a decade, the bourse said on Wednesday. The trading system of the Ho Chi Minh Stock Exchange, Vietnam's benchmark stock market that surged nearly 50 percent last year, developed a technical issue on Monday which prevented it from retriev...Read More
Two healthcare stocks are making noise this morning, for different reasons. Biotech Puma Biotechnology Inc (NASDAQ:PBYI) reported a setback with its cancer drug in Europe, while blood transfusion specialist Cerus Corporation (NASDAQ:CERS) scored a big win with a late-stage study. Below is a quick look at shares of PBYI and CERS.Puma Biotechnology Hit With Downgrade Amid Europe ConcernsPuma Biotec...Read More
Shares of drug concern Valeant Pharmaceuticals Intl Inc (NYSE:VRX) are plummeting, after Goldman Sachs initiated coverage on VRX stock with a "sell" rating and a price target of $18 -- a discount of more than 19% to yesterday's close. The brokerage firm citedbalance sheet concerns,litigation risks, and competition-related pressure for key products in the near term. In response, VRX was last seen d...Read More
It could be another record day on Wall Street as traders digest the latest batch of corporate earnings reports and eye the U.S. dollar. Futures on the Dow Jones Industrial Average (DJI) and S&P 500 Index (SPX) are higher in pre-market trading, even as General Electric (GE) stock turns lower after earnings, with the blue chip revealing a Securities and Exchange Commission (SEC) investigation and pl...Read More
Shares in Chilean miner Antofagasta Plc. (LON:ANTO) plummeted Wednesday after the company reported marked drops in gold and copper output during the last quarter of 2017, which weighted on full-year production.Gold production fell to 212,400 ounces in 2017, a dramatic 21.6% decreased when compared to the previous year. In the fourth quarter alone, output of the precious metal reached 40,500 ounces...Read More
Shares in Chilean miner Antofagasta Plc. (LON:ANTO) plummeted Wednesday after the company reported marked drops in gold and copper output during the last quarter of 2017, which weighted on full-year production.Gold production fell to 212,400 ounces in 2017, a dramatic 21.6% decreased when compared to the previous year. In the fourth quarter alone, output of the precious metal reached 40,500 ounces...Read More
Shares in Chilean miner Antofagasta Plc. (LON:ANTO) plummeted Wednesday after the company reported marked drops in gold and copper output during the last quarter of 2017, which weighted on full-year production.Gold production fell to 212,400 ounces in 2017, a dramatic 21.6% decreased when compared to the previous year. In the fourth quarter alone, output of the precious metal reached 40,500 ounces...Read More
Endeavour Mining (TSX: EDV;OTCQX: EDVMF) says the Hound?(C) mine start-up lifted group production by 38% fromthe third to fourth quarter to 204,000 ounces, while decreasing group all-insustaining costs by 13% to $784 an ounce. Full-year 2017 production was up 14%to 663,000 ounces, attaining the top half of the guidance range of 630,000 to675,000. AISC were put at $869, within guidance of $850 to $...Read More
There are times when the marketsdo the unthinkable, and this is one of those times. Gold is now breaking outagain to the upside, adding on to the rally that began Dec. 12. Our long-termviews on gold were bullish. We called the end of the bear market in metals butthought we would see a retracement and could profit from the short side. Wewere wrong!Gold has broken out to the upsideand now brings the...Read More
(Kitco News) -Gold and silver prices are solidly higher in early U.S. trading Wednesday. Goldprices have scored a 4.5-month high. A sharply lower U.S. dollar index thatslumped to a 3.5-year low today is providing the precious metals bulls withsome rocket fuel. February Comex gold was last up $15.50 an ounce at $1,352.20.March Comex silver was last up $0.382 at $17.29 an ounce.Helpingto sink the U....Read More
David Cornell, Fund Manager of India Capital Growth Fund (LON:IGC), spoke to Proactive's Andrew Scott as they made the move off AIM and began trading on London's Main Market.Cornell says it comes after a year of strong performance for them with the company's NAV increasing 42.3% to ?142.9mln. Meet Netscientific PLC, discoverIE Group plc, Itaconix Plc and Realm Therapeutics plc at our event,...Read More
StandardChartered sees potential for interest in gold as an inflation hedge to pick upagain. “Rising inflation expectations as a driver of gold prices have providedlittle motivation for investors to buy gold over the past year,” analysts say.This has occurred since inflation has not materialized despite quantitativeeasing in key developed nations. “The relationship between gold a...Read More
Standard Chartered sees potential for interest in gold as an inflation hedge to pick up again. “Rising inflation expectations as a driver of gold prices have provided little motivation for investors to buy gold over the past year,” analysts say. This has occurred since inflation has not materialized despite quantitative easing in key developed nations. “The relationship between g...Read More
Editor's Note: Welcome to Kitco's new Bitcoin Daily Technical Alert. Every trading day veteran Kitco technical analyst Jim Wyckoff will provide you with a concise and easy-to-understand near-term technical brief on Bitcoin. Importantly, Jim will glean the short-term charts and technical studies, and then alert you to the signals he sees regarding upcoming potential bigger price moves or price tren...Read More
Editor's Note: Welcome to Kitco's new Bitcoin Daily Technical Alert. Every trading day veteran Kitco technical analyst Jim Wyckoff will provide you with a concise and easy-to-understand near-term technical brief on Bitcoin. Importantly, Jim will glean the short-term charts and technical studies, and then alert you to the signals he sees regarding upcoming potential bigger price moves or price tren...Read More
By Adam Clark Fresnillo PLC (FRES.LN) said Wednesday that its fourth-quarter silver production rose 20% against the prior year, citing the start-up of phase-two operations at its San Julian mine in Mexico. The U.K.-listed miner said it produced 16 million ounces of silver in the final quarter of 2017. Silver production rose 11% from the previous quarter as San Julian operated at full capacity, whi...Read More
The market seems to only go up now. The year 2017 is only the second on record since 1929 that the maximum drawdown on the S&P 500 Index (SPX) was less than 3%. Thinking about that, if you had bought and then sold at the worst possible times last year,you would have lost a measly 2.8%. Stocks don't look to be slowing down, either. The S&P 500 is already up 6% this year, but can this continue? This...Read More