- 2019-08-12 14:53:21Z
Gold topped a six-year high Tuesday morning, with its spot price briefly topping $1,534, its highest level since April 2013. Gold can be challenging to value, which can make its future direction harder to predict. You could argue that gold's value is entirely derivative - whether it climbs or falls has less to do with any specific qualities that are intrinsic to the asset itself, and more to do with a series of external influences … among them, the strength of the U.S. dollar, the health of stocks, the level of interest rates, and, of course, investor sentiment.
Some of the money will be used to expand new routes for UPS as well as for the overall development of the autonomous platform, a TuSimple spokesperson told FreightWaves. "Having a leader like UPS invest in TuSimple helps further establish credibility for the company and the technology with the original equipment manufacturers and Tier One suppliers," the spokesperson added. UPS and TuSimple did not disclose the size of the investment, which was undertaken by UPS Ventures, the UPS venture capital arm.
Auto insurance company Progressive Corp (NYSE: PGR) reported a financial update for the month of July where the company showed a modest but expected slowdown in personal auto policies, according to MKM. MKM Partners analyst Harry Fong maintains a Buy rating on Progressive with a $100 price target. Personal auto policies-in-force rose 11.8% during July which represents a slowdown from recent months which ranged between 12.5% and 13.5% and 14% throughout 2018, Fong wrote in a note.
Shares of J.C. Penney surged after the ailing department store cut its quarterly losses in half and announced that it would begin selling used clothing to staunch fading sales. Among the worst hit has been J.C. Penney, a company that traces its roots back to 1902 and just received a delisting warning
Yesterday the stock markets fell 3% on headlines, and that is always a time to find great stocks to buy on dips. The stock markets have been in headline trading mode for months. This week we got several reminders of that -- and of how excellent homework can fall hostage to surprise headlines.First there
Although the market's near-7% setback suffered since its late-July high is neither devastating nor unusual, it has certainly been frustrating all the same. Many investors who were lured into the idea of "chasing performance" ended up being punished for doing so, even with Tuesday's
(Bloomberg) -- Don't be lulled by a quiet June and July, the real Atlantic hurricane season is about to kick off.The hurricane season runs from June 1 to the end of November. But the next six weeks -- "the season within a season" -- is regularly the most dangerous and active time for storms to develop
The following article originally appeared in Institutional Crypto by CoinDesk, a free weekly newsletter focused on crypto assets. Sign up here. This measures the weight of bitcoin in the crypto universe, by taking its market cap as a percentage of the total market cap for all crypto assets. Traders and investors keep an eye on it as an indicator of market preference.
Aug.14 -- Sean Darby, chief global equity strategist at Jefferies, discusses today's yuan fixing rate and what it means for markets. He speaks on "Bloomberg Markets: China Open."
Berkshire Hathaway plows some of its considerable cash pile into shares of Amazon.com, while Cisco disappoints the market.
A petition signed by more than 600 "Googlers" as of late afternoon was prompted by word that US Customs and Border Protection (CBP) was preparing to request bids on a massive cloud computing contract. Google is a major cloud computing provider. "The winning cloud provider will be streamlining
President Donald Trump suggested Wednesday that trade talks with China can wait until tensions in Hong Kong have eased, tweeting: "Of course China wants to make a deal. Trump also praised Chinese President Xi Jinping, calling him a "great leader" and saying he could quickly resolve the
Here's what to do with your 401(k) in the midst of the market drop, according to a financial planner However, if someone is behind on that shift, the market isn't too dire to start now. The markets are down, but we're still up close to 10 percent for the year, so I still would say this is an ok time to dial back a little bit of that risk, because you're not in a full-fledged 20 percent correction, where that's when you don't want to be making reactionary moves," Beatty explained. So it's fair right now to make a little bit of an adjustment if you haven't.
Canopy Growth drives revenue with 94% increase in recreational dried cannabis sales in first quarter of fiscal 2020
(Bloomberg) -- Machines are taking over a giant Chilean copper mine, replacing about a third of the workforce as owner Codelco struggles to keep its title as the world's largest producer of the metal.Codelco officially inaugurated underground operations at its century-old Chuquicamata mine on Wednesday
(Bloomberg) -- A million-dollar day may have turned into a hundred million-dollar month for the major buyer of U.S. equity volatility as stocks endure one of their worst sell-offs of 2019.Late July and early August saw massive orders for protection that bore some similarities to transactions by the trader
Alibaba Group (NASDAQ:BABA), the Chinese Cloud Emperor, reports earnings before trading opens Aug. 15, and not much is expected. Revenue of $16.5 billion would be close to what it did in the fourth quarter of last year. Earnings of $1.49-$1.51 per share would be close to what it did in its most recent quarter.
(Bloomberg) -- Uber Technologies Inc. shares, which have spent more time below their recent IPO price than above it, fell to a record low Wednesday, as market sentiment broadly soured on fears of a global slowdown and amid lingering disappointment with last week's second-quarter report, according to
(Bloomberg Opinion) -- In a free-market economy everyone is supposed to have the chance to get rich. The dream of making it big motivates people to take risks, start businesses, stay in school and work hard. Unfortunately, in the U.S., that dream seems to be dying.There are still plenty of rich people
An affiliate of Henderson Park will pay 1.9135 euros per share in cash for Green, the U.K. firm said in a statement on Wednesday. The price is a 24.7% premium to the real estate firm's share price before it began a process to sell itself in April because it said investors were undervaluing the firm. Buying Green "offers a rare opportunity to invest in a large institutional quality office portfolio and a strategic logistics park through a single transaction," Henderson Park Chief Executive Officer Nick Weber said.
(Bloomberg) -- U.S. 30-year yields fell to their lowest level ever as investors sought shelter amid a fraught geopolitical backdrop and concern increased about the impact of the escalating global trade war on economic growth.Meanwhile, the stream of investors into the safest parts of the market has triggered
Aug.14 -- Ondrej Vlcek, chief executive officer at Avast, discusses the biggest driver for earnings, the roll out of 5G, giving up his salary and bonus and privacy risks. He speaks on "Bloomberg Markets: European Open."
Aug.14 -- Carol Cheung, financial services and commerce finance director at Robert Walters Hong Kong, discusses the protests in Hong Kong and their impact on people living and working in the city. She speaks on "Bloomberg Markets: Asia."
The drama came at the close, following a day in which Apple had calmly traded above $208 for hours, poised for a more than 4% gain. Minutes later the closing price was corrected to $208.97. According to Nasdaq Inc., one of the major U.S. exchange operators, 80 stocks were affected, 13 of them Nasdaq-listed companies.
Aug.13 -- Shawn Yang, deputy head and managing director at Blue Lotus Research Institute, discusses Alibaba listing in Hong Kong, what to look out for in their earnings and what's ahead for Tencent. He speaks on "Bloomberg Markets: China Open."
The company's cost of sales, or the cost related to pot production and its supply, rose more than six-fold to $33.6 million in the second quarter from a year earlier. The results came on the back of increasing demand in the Canadian cannabis sector, which has faced supply constraints. Canada became
Former Major League Baseball player Doug DeCinces was sentenced to eight months of home detention and ordered to pay a $10,000 fine for his role in an insider-trading scheme, a newspaper reported. DeCinces, who played third base for the California Angels and Baltimore Orioles, was convicted in 2017
Luckin Coffee will have its first earnings report tomorrow before the open since it went public in mid-May. IPO base formed so earnings could be catalyst for a breakout.STOCK MARKET TODAY is sponsored by Interactive Brokers. To open an account, go to ibkr.com/whyib
After a failed breakout attempt in Apple, the stock saw a surge with an other potential entry. But negative earnings growth and slower sales growth are still a concern.STOCK MARKET TODAY is sponsored by Interactive Brokers. To open an account, go to ibkr.com/whyib
Taiwan's Foxconn, which makes smartphones for Apple and other brands, reported a 2.5% fall in quarterly profit on Tuesday, a slightly smaller decline than analysts' expected. Foxconn, the world's largest contract electronics manufacturer and formally known as Hon Hai Precision Industry Co Ltd, reported net profit of T$17.05 billion ($542 million) for the April-June quarter, versus an average forecast of T$16.01 billion according to 14 analysts' estimates compiled by Refinitiv. The company did not elaborate on the causes of the profit decline from T$17.49 billion a year earlier.
Driving a used car As soon as you drive a new car off the lot, the vehicle starts depreciating. Unless you were able to purchase the car for cash, you are already upside-down on a debt, thanks to that lease or finance agreement. While you might not have enough cash on hand to purchase a used car that meets your expectations, your car payments can be much lower when you buy a pre-owned car.
Constellation Brands agreed to sell the Black Velvet Canadian Whisky and associated production facilities in Alberta, Canada to Heaven Hill Brands for $266 million. Constellation's motivation to shed smaller assets is consistent with management's desire to focus exclusively on premium brands to better deliver accelerated growth and shareholder value, the company said. "We are relentlessly focused on the consumer and building a portfolio of brands consumers love today, while pushing beyond to meet their evolving needs well into the future," said Bill Newlands, Constellation Brands president and CEO.
U.S. consumer prices increased broadly in July, but the signs of an acceleration in inflation will likely do little to change market expectations that the Federal Reserve will cut interest rates again next month amid worsening trade tensions. The report from the Labor Department on Tuesday, however,
Analysts predict HUYA will report earnings of 8 cents per share on revenue of $256.14 million. The Wall Street consensus estimate for earnings would represent a 33.33% increase for the company. Sales would be up 63.23% from the year-ago period.
(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. Recession fears are spreading among investors at a time when valuations across major assets are looking dangerously stretched following years of monetary stimulus, the latest Bank of America
China's top technology, e-commerce and consumer electronic firms are set to report a sharp slowdown in revenue growth for the June quarter, as a bruising trade war with the United States weighed on the Chinese economy and hurt consumer spending. Revenues at a handful of China's biggest tech
Aug.13 -- The second biggest market selloff since 1950 across all regions happened yesterday after President Macri's landslide loss in weekend primaries. The markets followed suit, the peso tumbled as much as 33% and the Merval stock index lost the most ever in intraday trading. Bloomberg's Justin Carrigan reports on "Bloomberg Daybreak: Europe."
For decades, Placido Domingo, one of the most celebrated and powerful men in opera, has tried to pressure women into sexual relationships by dangling jobs and then sometimes punishing the women professionally when they refused his advances, numerous accusers told The Associated Press. Regarded as one
Asian stocks followed their U.S. counterparts lower Tuesday as political unrest in Hong Kong and Argentina added to trade concerns and knocked sentiment. China's 10-year bond yield fell to 3% for the first time since 2016. Shares fell across the region led by Japan and Hong Kong, where stocks reacted to protesters bringing the city's airport to a standstill on Monday.
But in this perfect storm for gold prices, EuroSun Mining (TSE:ESM, OTCMKTS:CPNFF) CEO Scott Moore says we're overlooking a significant trend that will outlast the current geopolitical meltdown and even the Fed's policies: It's a global push for de-dollarization. Government's around the world are becoming increasingly wary of the dollar's hegemony in international trade," says Moore. And they're doing their best to distance themselves from it by using their gold reserves to buy more gold instead.
Axovant's multiple opportunities to find an efficacious gene therapy make it an attractive investment ahead of data readouts scheduled for the fourth quarter, Skorney said in a Monday note. Axovant is due to release initial data from the first Type 2 GM1 gangliosidosis patient dosed with AXO-AAV-GM1 in the fourth quarter. The analyst said the simplistic approach used by AXO-AAV-GM1 in gangliosidosis - usage of well-known AAV9 vector and the IV route of administration - improves the chances of its clinical success.
Chinese electric vehicle maker Nio Inc - ADR (NYSE: NIO) traded lower Monday after the company reported disappointing July shipment numbers. Nio shares are now down 58.8% in the past six months, but Bank of America Merrill Lynch said Monday that it's still not time for investors to buy the dip. Ming Hsun Lee reiterated an Underperform rating on Nio with a $3 price target.
The San Francisco-based company is working with a financial adviser after drawing interest from suitors including Brookfield Asset Management Inc., which has floated the idea of merging the company with TerraForm Power Inc., said the people, who asked to not be identified because the matter isn't public. Brookfield owns about 65% of TerraForm Power, according to data compiled by Bloomberg.
Argentinian assets plummeted in price today after Alberto Fernández, a leftwing populist opposition politician, soundly defeated rightwing incumbent president Mauricio Macri in a nationwide primary election over the weekend. The vote determines which candidates can run in the presidential election in October, and is seen as a key barometer of public opinion. In Sunday's primary, Fernández received 47.7% of the vote to Macri's 32.1%, blowing away an expected margin of just a few percentage points.
In just the span of a few days, Advanced Micro Devices (AMD) stock skyrocketed more than 20% as Google and Twitter both announced they would use or were already using the just-released 7nm EPYC server processors. The new chip has been at the center of AMD's game plan this year, and estimated to produce
That makes it a great time to be looking for more conservative dividend stocks to buy today. Dividend Stocks to Buy: Exxon Mobil (XOM) Dividend Yield: 4.9% After this latest round of selling, energy stocks are basically flat for the year, with the leading sector exchange-traded fund (ETF) trading back to where it was at the beginning of January. If you're a short-term trader, energy stocks have been a terrible place to be this year.
On paper Equatorial Guinea could be seen as a booming country but in terms of its development indices it is not much better than Cameroon