BlackRock’s Larry Fink says he feared a ‘severe backlash’ for his climate crisis letter to CEOs

BlackRock Chair and CEO Laurence D. Fink attends a session at the World Economic Forum (WEF) annual meeting in Davos, on January 23, 2020. DAVOS, Switzerland — BlackRock Chairman and CEO Larry Fink feared his annual letter to chief executives would trigger a “severe backlash” against the world’s largest investment firm, particularly because many of its clients are big hydrocarbon producers. It marked a stunning shift by the world’s top asset manager, following growing pressure from investors and


BlackRock Chair and CEO Laurence D. Fink attends a session at the World Economic Forum (WEF) annual meeting in Davos, on January 23, 2020.
DAVOS, Switzerland — BlackRock Chairman and CEO Larry Fink feared his annual letter to chief executives would trigger a “severe backlash” against the world’s largest investment firm, particularly because many of its clients are big hydrocarbon producers.
It marked a stunning shift by the world’s top asset manager, following growing pressure from investors and
BlackRock’s Larry Fink says he feared a ‘severe backlash’ for his climate crisis letter to CEOs Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-23  Authors: sam meredith
Keywords: news, cnbc, companies, climate, world, backlash, session, worlds, crisis, feared, blackrocks, letter, severe, manage, larry, fink, money, forum, states, ceos, hydrocarbon


BlackRock's Larry Fink says he feared a 'severe backlash' for his climate crisis letter to CEOs

BlackRock Chair and CEO Laurence D. Fink attends a session at the World Economic Forum (WEF) annual meeting in Davos, on January 23, 2020.

DAVOS, Switzerland — BlackRock Chairman and CEO Larry Fink feared his annual letter to chief executives would trigger a “severe backlash” against the world’s largest investment firm, particularly because many of its clients are big hydrocarbon producers.

Fink warned CEOs earlier this month that an intensifying climate crisis would bring about a “fundamental reshaping of finance,” with a significant reallocation of capital set to take place “sooner than most anticipate.”

It marked a stunning shift by the world’s top asset manager, following growing pressure from investors and climate activists about its investing practices.

“I actually thought we were going to have a severe backlash on this one,” Fink said at a World Economic Forum session on Thursday.

That’s “because we manage money for countries that are big hydrocarbon producers (and) we manage money in the United States where the states are totally dependent on hydrocarbons for their economy.”

“And yet, we can talk about the public narrative, but the private conversations we had with our clients I would say was 99:1 in favour,” Fink said.

BlackRock’s assets under management totaled nearly $7 trillion in the third quarter of 2019.


Company: cnbc, Activity: cnbc, Date: 2020-01-23  Authors: sam meredith
Keywords: news, cnbc, companies, climate, world, backlash, session, worlds, crisis, feared, blackrocks, letter, severe, manage, larry, fink, money, forum, states, ceos, hydrocarbon


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Why this pro says emerging markets are more attractive than US in 2020

Why this pro says emerging markets are more attractive than US in 2020CNBC’s “Closing Bell” team discusses markets after the Dow topped 29,000 for the first time during today’s trading session, with Dan Nathan of RiskReversal Advisors and Sean Darby, global equity strategist at Jefferies.


Why this pro says emerging markets are more attractive than US in 2020CNBC’s “Closing Bell” team discusses markets after the Dow topped 29,000 for the first time during today’s trading session, with Dan Nathan of RiskReversal Advisors and Sean Darby, global equity strategist at Jefferies.
Why this pro says emerging markets are more attractive than US in 2020 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-10
Keywords: news, cnbc, companies, markets, strategist, emerging, team, session, trading, topped, todays, sean, attractive, pro, riskreversal, 2020


Why this pro says emerging markets are more attractive than US in 2020

Why this pro says emerging markets are more attractive than US in 2020

CNBC’s “Closing Bell” team discusses markets after the Dow topped 29,000 for the first time during today’s trading session, with Dan Nathan of RiskReversal Advisors and Sean Darby, global equity strategist at Jefferies.


Company: cnbc, Activity: cnbc, Date: 2020-01-10
Keywords: news, cnbc, companies, markets, strategist, emerging, team, session, trading, topped, todays, sean, attractive, pro, riskreversal, 2020


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Venezuela’s Maduro claims control of Congress as blockade prevents Guaido from entering parliament

Pro Guaido lawmakers struggle with the national guard to enter the National assembly as Luis Parra swears in at the assembly building session as the new leader of the National Assembly in Caracas, Venezuela on January 05, 2020. The leader of Venezuela’s internationally-recognized government was violently blocked from entering parliament, as the embattled administration of President Nicolas Maduro installed a new head of Congress. Juan Guaido, who had used his position as leader of the opposition


Pro Guaido lawmakers struggle with the national guard to enter the National assembly as Luis Parra swears in at the assembly building session as the new leader of the National Assembly in Caracas, Venezuela on January 05, 2020.
The leader of Venezuela’s internationally-recognized government was violently blocked from entering parliament, as the embattled administration of President Nicolas Maduro installed a new head of Congress.
Juan Guaido, who had used his position as leader of the opposition
Venezuela’s Maduro claims control of Congress as blockade prevents Guaido from entering parliament Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-06  Authors: sam meredith
Keywords: news, cnbc, companies, blockade, session, venezuelas, control, assembly, try, entering, leader, president, guaido, parra, national, prevents, parliament, congress, venezuela, claims, maduro


Venezuela's Maduro claims control of Congress as blockade prevents Guaido from entering parliament

Pro Guaido lawmakers struggle with the national guard to enter the National assembly as Luis Parra swears in at the assembly building session as the new leader of the National Assembly in Caracas, Venezuela on January 05, 2020.

The leader of Venezuela’s internationally-recognized government was violently blocked from entering parliament, as the embattled administration of President Nicolas Maduro installed a new head of Congress.

Juan Guaido, who had used his position as leader of the opposition-controlled National Assembly to declare himself as the country’s rightful interim president in early 2019, was prevented from entering parliament by Maduro’s Bolivarian National Guards on Sunday.

He had been due to attend a parliamentary session for what was expected to be his re-election as head of Congress.

At one stage during chaotic and at times violent scenes in central Caracas, Guaido was seen trying to climb over an iron fence in order to try to get into the building.

National guards with riot shields ultimately repelled Guaido’s efforts, who appeared to rip his blue suit during the melee.

The blockade, which was condemned by the U.S., European Union and a dozen Latin American countries as an assault on democracy, allowed Maduro’s regime to hand the post to Luis Parra — a former ally to the opposition before he was recently expelled from the party over corruption allegations.

Opposition lawmakers quickly held an impromptu session to re-elect Guaido at the headquarters of El Nacional, a pro-opposition newspaper.

It has resulted in two competing leaders of parliament, at a time when the oil-rich, but cash-poor, country is the midst of a long-running political stand-off.

“I regret the embarrassing show of the dictatorship to try to prevent the inevitable: that despite persecuting and imprisoning, they have not broken the fighting spirit of the deputies and that of all Venezuela,” Guaido said via Twitter during the early hours of Monday morning.


Company: cnbc, Activity: cnbc, Date: 2020-01-06  Authors: sam meredith
Keywords: news, cnbc, companies, blockade, session, venezuelas, control, assembly, try, entering, leader, president, guaido, parra, national, prevents, parliament, congress, venezuela, claims, maduro


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European markets set for quiet session as 2019 draws to an end

European markets are expected to open in negative territory on Tuesday as financial markets see in the last trading session of the year. London’s FTSE index is expected to open 29 points lower at 7,563 and France’s CAC 40 is seen 4 points lower at 5,984, according to IG. Financial markets in Germany, Italy and Switzerland are closed today and the volume of trade likely to be lighter in markets that are open. Trading is also thinner in Asia with markets in Australia and Hong Kong closing early on


European markets are expected to open in negative territory on Tuesday as financial markets see in the last trading session of the year.
London’s FTSE index is expected to open 29 points lower at 7,563 and France’s CAC 40 is seen 4 points lower at 5,984, according to IG.
Financial markets in Germany, Italy and Switzerland are closed today and the volume of trade likely to be lighter in markets that are open.
Trading is also thinner in Asia with markets in Australia and Hong Kong closing early on
European markets set for quiet session as 2019 draws to an end Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-31  Authors: holly ellyatt
Keywords: news, cnbc, companies, markets, set, ghosn, quiet, 2019, european, open, draws, points, index, japan, lower, justice, session, end, expected


European markets set for quiet session as 2019 draws to an end

European markets are expected to open in negative territory on Tuesday as financial markets see in the last trading session of the year.

London’s FTSE index is expected to open 29 points lower at 7,563 and France’s CAC 40 is seen 4 points lower at 5,984, according to IG.

Financial markets in Germany, Italy and Switzerland are closed today and the volume of trade likely to be lighter in markets that are open.

Trading is also thinner in Asia with markets in Australia and Hong Kong closing early on Tuesday, and major Asian markets in Japan and South Korea already shut for 2019.

Chinese stocks were mixed by the afternoon on Tuesday despite official manufacturing Purchasing Managers’ Index (PMI) for December came in slightly above expectations on Tuesday, according to the country’s statistics bureau.

In other news, ousted Nissan Chairman Carlos Ghosn, who was awaiting trial on criminal charges in Japan, confirmed reports on Tuesday that he’s left the country and is in Lebanon, commenting that he will no longer be “held hostage by a rigged Japanese justice system.”

It was not clear how Ghosn was able to leave Japan, where he has been under strict court-imposed restrictions on his movements. Japan’s Ministry of Justice didn’t immediately reply to CNBC’s request for comment on Ghosn’s statement.

There are no European data releases or earnings Tuesday.

– CNBC’s Yen Nee Lee contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-12-31  Authors: holly ellyatt
Keywords: news, cnbc, companies, markets, set, ghosn, quiet, 2019, european, open, draws, points, index, japan, lower, justice, session, end, expected


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US stock markets set to build on record highs in shortened trading session

U.S. stock index futures pointed to a slightly higher start on Tuesday, building on gains which took markets to fresh record highs in the previous session. ET, Dow futures were up 11 points, pointing to a higher open of more than 8 points. Trading is expected to be subdued on Tuesday as many financial markets will close early for the Christmas holidays. Shares of Boeing led the gains, jumping 2.9% after the company ousted CEO Dennis Muilenburg amid the 737 Max crisis. ET on Tuesday for Christmas


U.S. stock index futures pointed to a slightly higher start on Tuesday, building on gains which took markets to fresh record highs in the previous session.
ET, Dow futures were up 11 points, pointing to a higher open of more than 8 points.
Trading is expected to be subdued on Tuesday as many financial markets will close early for the Christmas holidays.
Shares of Boeing led the gains, jumping 2.9% after the company ousted CEO Dennis Muilenburg amid the 737 Max crisis.
ET on Tuesday for Christmas
US stock markets set to build on record highs in shortened trading session Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-24  Authors: spriha srivastava
Keywords: news, cnbc, companies, trading, stock, build, futures, tariffs, set, markets, shortened, christmas, highs, higher, trade, session, record, surveys


US stock markets set to build on record highs in shortened trading session

U.S. stock index futures pointed to a slightly higher start on Tuesday, building on gains which took markets to fresh record highs in the previous session.

At 2 a.m. ET, Dow futures were up 11 points, pointing to a higher open of more than 8 points. Futures on the S&P and Nasdaq were higher too. Trading is expected to be subdued on Tuesday as many financial markets will close early for the Christmas holidays.

On Monday, the three major averages all posted record closes. Shares of Boeing led the gains, jumping 2.9% after the company ousted CEO Dennis Muilenburg amid the 737 Max crisis.

Market focus is largely attuned to developments on the U.S.-China trade front. Investors cheered the news that China will cut import tariffs on a wide range of goods. China’s finance ministry announced starting January 1, it will lower import tariffs on over 850 products ranging from frozen pork to some types of semiconductors. China is making efforts to boost imports amid a slowing economy and a trade war with the U.S.

On the data front, Philadelphia Fed manufacturing surveys are due at 8:30 a.m. ET, followed by Richmond Fed surveys at 10 a.m. ET.

The U.S. stock market closes at 1 p.m. ET on Tuesday for Christmas Eve and is closed on Wednesday for Christmas. Thursday and Friday are regular trading days.

—CNBC’s Yun Li contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-12-24  Authors: spriha srivastava
Keywords: news, cnbc, companies, trading, stock, build, futures, tariffs, set, markets, shortened, christmas, highs, higher, trade, session, record, surveys


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Nancy Pelosi invites Trump to give State of the Union address on Feb. 4

The ‘Pelosi Clap’: U.S. House Speaker Nancy Pelosi, a Democrat from California, right, and U.S. Vice President Mike Pence, left, applaud U.S. President Donald Trump during a State of the Union address to a joint session of Congress at the U.S. Capitol in Washington, D.C., U.S., on Tuesday, Feb. 5, 2019. House Speaker Nancy Pelosi on Friday invited President Donald Trump to deliver a State of the Union address on Feb. 4. Pelosi threatened to block Trump’s speech before Congress because “a State o


The ‘Pelosi Clap’: U.S. House Speaker Nancy Pelosi, a Democrat from California, right, and U.S. Vice President Mike Pence, left, applaud U.S. President Donald Trump during a State of the Union address to a joint session of Congress at the U.S. Capitol in Washington, D.C., U.S., on Tuesday, Feb. 5, 2019.
House Speaker Nancy Pelosi on Friday invited President Donald Trump to deliver a State of the Union address on Feb. 4.
Pelosi threatened to block Trump’s speech before Congress because “a State o
Nancy Pelosi invites Trump to give State of the Union address on Feb. 4 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-20  Authors: kevin breuninger
Keywords: news, cnbc, companies, feb, congress, session, nancy, president, address, invites, joint, pelosi, state, trump, house, union


Nancy Pelosi invites Trump to give State of the Union address on Feb. 4

The ‘Pelosi Clap’: U.S. House Speaker Nancy Pelosi, a Democrat from California, right, and U.S. Vice President Mike Pence, left, applaud U.S. President Donald Trump during a State of the Union address to a joint session of Congress at the U.S. Capitol in Washington, D.C., U.S., on Tuesday, Feb. 5, 2019.

House Speaker Nancy Pelosi on Friday invited President Donald Trump to deliver a State of the Union address on Feb. 4.

Trump accepted Pelosi’s invitation, a White House spokesman said later Friday.

The invitation suggests that despite the bitter partisan divide over the impeachment process, Pelosi seeks to avoid repeating the prior year’s political fight, when the annual address was used in a game of political tug-of-war amid a government shutdown.

“In the spirit of respecting our Constitution, I invite you to deliver your State of the Union address before a Joint Session of Congress on Tuesday, February 4, 2020 in the Chamber of the U.S. House of Representatives,” Pelosi wrote in a letter to Trump.

Her spokesman, Drew Hammill, tweeted out a copy of the brief letter Friday afternoon.

Trump’s last State of the Union address was delayed amid a partial government shutdown — the longest in U.S. history — which stemmed from an impasse between Congress and the White House over his demand for funding for a wall on the border with Mexico.

Pelosi threatened to block Trump’s speech before Congress because “a State of the Union address has never been delivered during a government shutdown.”

She suggested he either reschedule the address or simply submit it in writing — an option that no president in decades had exercised.

Pelosi and Trump eventually agreed to allow that address before a joint session of Congress on Feb. 5.


Company: cnbc, Activity: cnbc, Date: 2019-12-20  Authors: kevin breuninger
Keywords: news, cnbc, companies, feb, congress, session, nancy, president, address, invites, joint, pelosi, state, trump, house, union


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Oil posts 5th positive session in 6, fueled by US inventories and trade progress

The oil tanker ‘Devon’ prepares to transfer crude oil from Kharg Island oil terminal to India in the Persian Gulf, Iran, on March 23, 2018. Brent crude gained 37 cents to settle at $66.54 per barrel, for its sixth straight day of gains. U.S. West Texas Intermediate crude gained 29 cents, or 0.48%, to settle at $61.22 per barrel. The deal between the world’s two largest economies has improved the global economic outlook, lifting prospects for higher energy demand next year and underpinning oil pr


The oil tanker ‘Devon’ prepares to transfer crude oil from Kharg Island oil terminal to India in the Persian Gulf, Iran, on March 23, 2018.
Brent crude gained 37 cents to settle at $66.54 per barrel, for its sixth straight day of gains.
U.S. West Texas Intermediate crude gained 29 cents, or 0.48%, to settle at $61.22 per barrel.
The deal between the world’s two largest economies has improved the global economic outlook, lifting prospects for higher energy demand next year and underpinning oil pr
Oil posts 5th positive session in 6, fueled by US inventories and trade progress Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-19
Keywords: news, cnbc, companies, positive, session, posts, settle, gained, fueled, tariffs, oil, weekly, 5th, dec, producers, crude, inventories, trade, prices, progress


Oil posts 5th positive session in 6, fueled by US inventories and trade progress

The oil tanker ‘Devon’ prepares to transfer crude oil from Kharg Island oil terminal to India in the Persian Gulf, Iran, on March 23, 2018.

Oil prices hovered near the highest in three months in thin pre-Christmas trading on Thursday, buoyed by the previous day’s news that U.S. crude inventories declined and as U.S.-China trade tensions continued to ease.

Brent crude gained 37 cents to settle at $66.54 per barrel, for its sixth straight day of gains. U.S. West Texas Intermediate crude gained 29 cents, or 0.48%, to settle at $61.22 per barrel.

Trading volume was thin, with oil headed for a third consecutive weekly rise. Prices were buoyed by China’s Dec. 13 decision to cancel a plan to impose additional tariffs on U.S. imports on Dec. 15 and the Phase 1 deal between Washington and China, which has eased trade tensions.

The deal between the world’s two largest economies has improved the global economic outlook, lifting prospects for higher energy demand next year and underpinning oil prices.

“The market’s happy with (Dec. 15) tariffs out of the way and the trade truce, for now,” said Bill Baruch, president at Blue Line Futures in Chicago.

In a further sign of thawing relations, China’s finance ministry on Thursday published a new list of six U.S. products that will be exempt from tariffs starting Dec. 26.

Oil has also gained momentum from announcements about deeper output cuts by major crude producers. The Organization of the Petroleum Exporting Countries and non-OPEC producers such as Russia agreed earlier this month to deepen production cuts by a further 500,000 barrels per day (bpd) from Jan. 1 on top of previous reductions of 1.2 million bpd.

Adding to the positive mood, weekly data from the Energy Information Administration showed U.S. crude inventories dropped 1.1 million barrels in the week to Dec. 13, while gasoline and distillates stockpiles rose.

News of President Donald Trump’s impeachment by the U.S. House of Representatives failed to stir the oil market.

“A resilient performance in the coming two weeks will flip the monthly technical picture unreservedly positive for next year,” PVM oil market analysts said, although they said prices were still likely to be volatile.


Company: cnbc, Activity: cnbc, Date: 2019-12-19
Keywords: news, cnbc, companies, positive, session, posts, settle, gained, fueled, tariffs, oil, weekly, 5th, dec, producers, crude, inventories, trade, prices, progress


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European stocks retreat after record rally; UK’s Johnson revamps hard Brexit threat

European stocks traded lower Tuesday as caution returned following a worldwide rally on the back of a “phase one” U.S.-China trade deal. The pan-European Stoxx 600 slipped 0.5%, with household goods shedding 1.9% to lead losses as most sectors and major bourses entered negative territory. Traders will also be reacting to U.K. Prime Minister Boris Johnson’s revamped threats of a hard Brexit if the EU does not agree a free trade agreement by the end of 2020. Meanwhile Johnson held a phone call on


European stocks traded lower Tuesday as caution returned following a worldwide rally on the back of a “phase one” U.S.-China trade deal.
The pan-European Stoxx 600 slipped 0.5%, with household goods shedding 1.9% to lead losses as most sectors and major bourses entered negative territory.
Traders will also be reacting to U.K. Prime Minister Boris Johnson’s revamped threats of a hard Brexit if the EU does not agree a free trade agreement by the end of 2020.
Meanwhile Johnson held a phone call on
European stocks retreat after record rally; UK’s Johnson revamps hard Brexit threat Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-17  Authors: elliot smith
Keywords: news, cnbc, companies, european, threat, brexit, stocks, uks, revamps, agreement, johnson, hard, trade, free, record, session, end, retreat, rally


European stocks retreat after record rally; UK's Johnson revamps hard Brexit threat

European stocks traded lower Tuesday as caution returned following a worldwide rally on the back of a “phase one” U.S.-China trade deal.

The pan-European Stoxx 600 slipped 0.5%, with household goods shedding 1.9% to lead losses as most sectors and major bourses entered negative territory. Oil and gas stocks bucked the trend to climb 0.6%.

The European blue chip index had ended Monday’s trading session at an all-time high, surpassing 418, after Washington and Beijing announced on Friday that an agreement had been reached and would be signed in January. However, some details remain in question.

Asian stocks continued to ride buoyant investor sentiment into Tuesday’s session, with mainland Chinese, South Korean and Hong Kong shares all bouncing by around 1%.

Traders will also be reacting to U.K. Prime Minister Boris Johnson’s revamped threats of a hard Brexit if the EU does not agree a free trade agreement by the end of 2020.

With the U.K. set to leave the bloc before January 31, Johnson will use his newly-secured majority in parliament to outlaw any extension to the Brexit transition period beyond the end of 2020, Reuters reported.

Meanwhile Johnson held a phone call on Monday with U.S. President Donald Trump in which the two leaders looked ahead to an “ambitious free trade agreement,” according to a Downing Street spokesman.

The Bank of England on Monday announced plans to tweak its capital requirements for British banks to allow them to continue lending in the event of an economic crisis.

In corporate news, Reuters reported citing sources that the board of Fiat Chrysler will meet Tuesday to consider a proposed $50 billion merger with French automaker Peugeot.

U.K. employment data and euro zone balance of trade figures are due after the bell on Tuesday.


Company: cnbc, Activity: cnbc, Date: 2019-12-17  Authors: elliot smith
Keywords: news, cnbc, companies, european, threat, brexit, stocks, uks, revamps, agreement, johnson, hard, trade, free, record, session, end, retreat, rally


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Gold steady as weaker dollar offsets increased risk appetite

Gold prices were steady on Friday as a weaker dollar helped offset pressures from an increased appetite for riskier assets following reports of a breakthrough in China-U.S. trade negotiations, while palladium scaled a fresh peak. Spot gold fell 0.1% to $1,467.20 per ounce by 0452 GMT, but was up about 0.5% so far this week. However, the dollar was hovering close to its lowest since early-July hit in the previous session, which made gold cheaper for investors holding other currencies. In the prev


Gold prices were steady on Friday as a weaker dollar helped offset pressures from an increased appetite for riskier assets following reports of a breakthrough in China-U.S. trade negotiations, while palladium scaled a fresh peak.
Spot gold fell 0.1% to $1,467.20 per ounce by 0452 GMT, but was up about 0.5% so far this week.
However, the dollar was hovering close to its lowest since early-July hit in the previous session, which made gold cheaper for investors holding other currencies.
In the prev
Gold steady as weaker dollar offsets increased risk appetite Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-13
Keywords: news, cnbc, companies, gold, session, investors, tariffs, support, ounce, dollar, steady, previous, palladium, offsets, risk, rose, appetite, scaled, weaker, increased


Gold steady as weaker dollar offsets increased risk appetite

A mark of 999.9 fine sits on hallmarked one kilogram gold bullion bars at the Valcambi SA precious metal refinery in Lugano, Switzerland, on April 24, 2018.

Gold prices were steady on Friday as a weaker dollar helped offset pressures from an increased appetite for riskier assets following reports of a breakthrough in China-U.S. trade negotiations, while palladium scaled a fresh peak.

Spot gold fell 0.1% to $1,467.20 per ounce by 0452 GMT, but was up about 0.5% so far this week.

U.S. gold futures were down 0.1% at $1,471.60.

Sources said on Thursday U.S. negotiators were offering to cut existing tariffs on Chinese goods by as much as 50% and suspend the new tariffs scheduled to go into effect on Sunday in an attempt to secure a “Phase 1” deal first promised in October.

“The market remains cautious … Until we see little bit more data around what has been agreed to, investors aren’t going to take any aggressive positioning in the gold market,” ANZ analyst Daniel Hynes said.

“Gold has been driven by other issues, including central bank easing and low inflation, and that is helping support underlying investors appetite despite headwinds in the shorter term,” he said.

U.S. stocks surged to record highs, while Asian equities rose to an eight-month peak, making safe-haven risk-off assets such as gold less appealing.

However, the dollar was hovering close to its lowest since early-July hit in the previous session, which made gold cheaper for investors holding other currencies.

Meanwhile, the European Central Bank kept its monetary policy unchanged on Thursday, while Christine Lagarde struck a more upbeat tone on the economy in her first news conference as its head.

In the previous session, gold scaled an over one-month high before ending the day lower.

Bullion gained after data from the United States showed “higher-than-expected jobless claims” and any signs of weakness in the economy “likely to elicit support for gold,” ANZ’s Hynes added.

Elsewhere, palladium rose 0.9 to $1,956.75 an ounce, having notched an all-time high of $1,964.56 earlier in the session.

Plagued by supply deficit, the auto-catalyst has gained about 4% so far this week, predominantly supported by mine closures across South Africa, a major producer of the metal.

Platinum fell 1.4% to $930 per ounce, while silver dipped 0.2% to $16.89 per ounce.

Both the metals were set to post its best weekly gain since end-October.


Company: cnbc, Activity: cnbc, Date: 2019-12-13
Keywords: news, cnbc, companies, gold, session, investors, tariffs, support, ounce, dollar, steady, previous, palladium, offsets, risk, rose, appetite, scaled, weaker, increased


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US futures point to lower opening ahead of shortened trading session

US futures point to lower opening ahead of shortened trading session1 Hour AgoU.S. stock index futures were lower Friday morning ahead of a shortened trading session due to the Thanksgiving holiday. CNBC’s Rahel Solomon reports.


US futures point to lower opening ahead of shortened trading session1 Hour AgoU.S. stock index futures were lower Friday morning ahead of a shortened trading session due to the Thanksgiving holiday.
CNBC’s Rahel Solomon reports.
US futures point to lower opening ahead of shortened trading session Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-29
Keywords: news, cnbc, companies, lower, opening, thanksgiving, point, futures, trading, solomon, stock, shortened, ahead, session, session1


US futures point to lower opening ahead of shortened trading session

US futures point to lower opening ahead of shortened trading session

1 Hour Ago

U.S. stock index futures were lower Friday morning ahead of a shortened trading session due to the Thanksgiving holiday. CNBC’s Rahel Solomon reports.


Company: cnbc, Activity: cnbc, Date: 2019-11-29
Keywords: news, cnbc, companies, lower, opening, thanksgiving, point, futures, trading, solomon, stock, shortened, ahead, session, session1


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