Spot gold was trading at $1,727.39 per ounce by 0248 GMT, having dropped 1.4% on Thursday. U.S. gold futures rose 0.3% to $1,726.50. Bullion had rallied to its highest since October 2012 on Monday, but has since lost ground and is now heading for a 0.8% weekly decline. …read more […]
(Bloomberg) — Oil retreated from the highest level in more than two months as doubts over the strength of China’s economic recovery and rising tensions between Washington and Beijing ate away at its weekly advance.Futures in New York fell 6% to below $32 a barrel on Friday, but are still up around 8% for the week. Beijing said it wouldn’t set a gross domestic product target this year due to “great uncertainty” over the coronavirus, although it did announce some new stimulus spending. The question marks over China’s economy come as relations with the U.S. deteriorate, potentially complicating the global …read more […]
(Bloomberg) — Asian stocks slipped, with the bulk of losses coming in Hong Kong, as China announced plans to impose a national security law on the city, which threatened to further deteriorate tension between the U.S. and China. U.S. futures edged higher.Hong Kong’s Hang Seng opened about 2% lower. Losses were more modest in Tokyo and Seoul, while shares edged up in Sydney. China responded to accusations from President Donald Trump, warning that it will safeguard its sovereignty, security and interests, and threatened countermeasures. The yuan was steady as China’s National People’s Congress began with pledges to sell bonds and …read more […]
Oil prices slumped on Friday after China’s decision to omit an economic growth target for 2020 renewed concerns that the fallout from the coronavirus pandemic will continue to depress fuel demand in the world’s second-largest oil user. Brent crude fell $1.56, or 4.3%, to $34.50 a barrel by 0323 GMT, after gaining nearly 1% on Thursday. West Texas Intermediate (WTI) crude dropped by $1.79, or 5.3%, to $32.13 a barrel, having gained more than 1% in the last session. …read more […]
For many, the first big step they take on the road to recovery from the coronavirus-induced recession could start with a plane ticket. …read more […]
Three big earnings announcements from Alibaba, Deere and Foot Locker will be in focus Friday. …read more […]
“Hi Ho Silver, Away!”
Those who used to watch The Lone Ranger will understand my intro. But even if you missed the connection, War Room members certainly didn’t.
A couple of weeks ago, members entered a spread trade on Coeur Mining (NYSE: CDE), a producer of silver and gold. Now, I don’t really like Coeur Mining as a long-term, fundamental play. It’s not as well-run as most other metals-producing companies. The management has diluted shareholders with capital raises and missed estimates consistently.
So why did we trade Coeur Mining in The War Room and make a bundle from it?
It’s about sentiment and finding …read more […]
(Bloomberg) — It’s been three weeks since President Donald Trump’s executive order to keep meat plants running in the pandemic and the government began preparing fresh guidance on how to keep their employees safe. Infections are still on the rise as workers say they’re being forced to put themselves in harm’s way in the name of food security.Based on 13 interviews with employees, labor representatives and a U.S. government inspector at meat plants in states including Arkansas, Virginia, Nebraska, North Carolina and Texas, employees are still standing elbow-to-elbow along production lines. There are some plastic barriers, but employees haven’t been …read more […]
Facebook’s (FB) universe is getting even bigger. On Tuesday, the social media colossus unveiled Facebook Shops, elbowing its way to the front of the e-commerce queue. The platform will act as a digital shopfront where businesses of all sizes will be able to sell their products. Customers will be able to make purchases directly through either Facebook or Instagram. “We think Facebook Shop in a simplistic bull case could drive up to as much as a $30 billion revenue opportunity, across a combination of take-rate driven transactional and advertising revenue,” said Deutsche Bank analyst Lloyd Walmsley. Facebook hopes the move …read more […]
The latest U.S. government action against China’s Huawei takes direct aim the company’s HiSilicon chip division–a business that in a few short years has become central to China’s ambitions in semiconductor technology but will now lose access to tools that are central to its success. Huawei Technologies Co Ltd for its part denounced the U.S. allegations and called the new measures “arbitrary and pernicious.” Established in 2004, HiSilicon develops chips mostly for Huawei, and for most of its existence has been an afterthought in a global chip business dominated by U.S., Korean and Japanese companies. …read more […]
(Bloomberg) — Hewlett Packard Enterprise Co. reported declining sales, and said it would “realign the workforce” and cut costs over the next three years, signaling that the stumbling global economy has dented demand for servers.Revenue fell 16% to $6 billion in the period ended April 30, the San Jose, California-based company said Thursday in a statement. Analysts, on average, expected $6.19 billion, according to data compiled by Bloomberg. Profit, excluding some items, was 22 cents a share, compared with an average estimate of 28 cents.The company said it was putting in place a plan to cut costs, with a goal …read more […]
(Bloomberg) — Hewlett Packard Enterprise Co. reported declining sales, and said it would “realign the workforce” and cut costs over the next three years, signaling that the stumbling global economy has dented demand for servers.Revenue fell 16% to $6 billion in the period ended April 30, the San Jose, California-based company said Thursday in a statement. Analysts, on average, expected $6.19 billion, according to data compiled by Bloomberg. Profit, excluding some items, was 22 cents a share, compared with an average estimate of 28 cents.The company said it was putting in place a plan to cut costs, with a goal …read more […]
Nvidia released its first-quarter earnings report after hours on Thursday, beating on both top and bottom lines. The company said that coronavirus did impact both supply and demand but expects Q2 revenue to come in above estimates due to the demand for its computing chips. Yahoo Finance’s Myles Udland breaks down the company’s earnings report on The Final Round. …read more […]
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