Tag: week

Toys R Us built a kingdom and the world’s biggest toy store. Then, they lost it.

Toys R Us’ status as the most important toy store in town left it cavalier, if cocky at times, according to conversations with former employees, executives and industry insiders, who spoke to CNBC on the condition of anonymity. The story begins with Lazarus, the store’s visionary who wanted the “R” written backward — an ode to childlike scrawl. Lazarus, who has been described as one of the great merchants of his time, expanded a baby furniture store he owned into a toy store. In its heyday in th

Toys R Us’ status as the most important toy store in town left it cavalier, if cocky at times, according to conversations with former employees, executives and industry insiders, who spoke to CNBC on the condition of anonymity. The story begins with Lazarus, the store’s visionary who wanted the “R” written backward — an ode to childlike scrawl. Lazarus, who has been described as one of the great merchants of his time, expanded a baby furniture store he owned into a toy store. In its heyday in th
Toys R Us built a kingdom and the world’s biggest toy store. Then, they lost it. Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-26  Authors: lauren hirsch, eduardo munoz, jacques m chenet, corbis, getty images, scott mlyn, peter foley, bloomberg, jason alden
Keywords: news, cnbc, companies, written, toy, biggest, toys, worlds, built, went, store, lost, stores, lazarus, world, week, kingdom, important

Toys R Us built a kingdom and the world's biggest toy store. Then, they lost it.

The toy emporium that Charles P. Lazarus envisioned has been reduced to dusty floors and empty shelves.

Much has been said about the demise of the toy empire, which this week announced its plan to liquidate. There have been fingers pointed at corporate raiders, Amazon and big-box stores. All contributed to its undoing.

Ultimately, though, Toys R Us’ collapse is a story of loyalty run dry. The store in its early days fostered devotion from customers and toymakers. In the end, it lost hold on both.

Toys R Us’ status as the most important toy store in town left it cavalier, if cocky at times, according to conversations with former employees, executives and industry insiders, who spoke to CNBC on the condition of anonymity. It didn’t invest in its stores, even as it was adding to the fleet, leaving it vulnerable when new competition moved in.

The story begins with Lazarus, the store’s visionary who wanted the “R” written backward — an ode to childlike scrawl. Lazarus, who has been described as one of the great merchants of his time, expanded a baby furniture store he owned into a toy store. By 1978, he had created a toy superstore large enough to become a public company.

In its heyday in the 1980s and 1990s, it was the most important toy store in the country, if not the world. Its strength grew as competitors Kiddie City and Child World went out of business.

Company: cnbc, Activity: cnbc, Date: 2019-01-26  Authors: lauren hirsch, eduardo munoz, jacques m chenet, corbis, getty images, scott mlyn, peter foley, bloomberg, jason alden
Keywords: news, cnbc, companies, written, toy, biggest, toys, worlds, built, went, store, lost, stores, lazarus, world, week, kingdom, important

Home › Forums

    • Forum
    • Topics
    • Posts
    • Last Post

  •  

Oil prices shrug off Khashoggi crisis, but US lawmakers and Turkey are turning up the heat on Saudis

The oil market has so far shrugged off rising U.S.-Saudi tensions over the killing of journalist Jamal Khashoggi by agents of the kingdom in Turkey, but the saga appears to be far from over. A speech by Turkey’s president slated for Tuesday could give the lawmakers fresh ammunition by further undermining the kingdom’s narrative. Just one week ago, Saudi Arabia was denying any role in Khashoggi’s disappearance and vowing to retaliate against foreign countries that sought to hold the kingdom accou

The oil market has so far shrugged off rising U.S.-Saudi tensions over the killing of journalist Jamal Khashoggi by agents of the kingdom in Turkey, but the saga appears to be far from over. A speech by Turkey’s president slated for Tuesday could give the lawmakers fresh ammunition by further undermining the kingdom’s narrative. Just one week ago, Saudi Arabia was denying any role in Khashoggi’s disappearance and vowing to retaliate against foreign countries that sought to hold the kingdom accou
Oil prices shrug off Khashoggi crisis, but US lawmakers and Turkey are turning up the heat on Saudis Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-22  Authors: tom dichristopher, getty images
Keywords: news, cnbc, companies, oil, khashoggi, kingdom, saudis, vowing, prices, turning, arabia, week, shrug, saudi, crisis, sanctions, weapons, far, heat, lawmakers, turkey

Oil prices shrug off Khashoggi crisis, but US lawmakers and Turkey are turning up the heat on Saudis

The oil market has so far shrugged off rising U.S.-Saudi tensions over the killing of journalist Jamal Khashoggi by agents of the kingdom in Turkey, but the saga appears to be far from over.

A chorus of U.S. lawmakers is questioning Saudi Arabia’s official story about the murder, raising the prospect of sanctions or a ban on weapons sales to Riyadh. A speech by Turkey’s president slated for Tuesday could give the lawmakers fresh ammunition by further undermining the kingdom’s narrative.

Just one week ago, Saudi Arabia was denying any role in Khashoggi’s disappearance and vowing to retaliate against foreign countries that sought to hold the kingdom accountable. The veiled threat raised concerns that the Saudis would exact revenge on the United States and others by cutting oil supply and allowing crude prices to bubble higher.

The Trump administration is relying on Saudi Arabia to pump more oil to offset the effect of U.S. sanctions on Iran, OPEC’s third biggest producer.

Company: cnbc, Activity: cnbc, Date: 2018-10-22  Authors: tom dichristopher, getty images
Keywords: news, cnbc, companies, oil, khashoggi, kingdom, saudis, vowing, prices, turning, arabia, week, shrug, saudi, crisis, sanctions, weapons, far, heat, lawmakers, turkey

Home › Forums

    • Forum
    • Topics
    • Posts
    • Last Post

  •  

CIA director Haspel to travel to Turkey as part of investigation into Jamal Khashoggi’s death

CIA Director Gina Haspel will travel to Turkey Monday as part of the U.S. government’s investigation into the death of Saudi journalist Jamal Khashoggi, a senior intelligence official with direct knowledge of the matter told NBC news. Khashoggi, a Washington Post columnist and frequent critic of the Saudi royal family, entered Saudi Arabia’s consulate in Istanbul on Oct. 2 and never emerged. Saudi Arabia’s general prosecutor announced Saturday morning local time that Khashoggi was dead, walking

CIA Director Gina Haspel will travel to Turkey Monday as part of the U.S. government’s investigation into the death of Saudi journalist Jamal Khashoggi, a senior intelligence official with direct knowledge of the matter told NBC news. Khashoggi, a Washington Post columnist and frequent critic of the Saudi royal family, entered Saudi Arabia’s consulate in Istanbul on Oct. 2 and never emerged. Saudi Arabia’s general prosecutor announced Saturday morning local time that Khashoggi was dead, walking
CIA director Haspel to travel to Turkey as part of investigation into Jamal Khashoggi’s death Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-22  Authors: carmin chappell, hasan jamali
Keywords: news, cnbc, companies, investigation, khashoggi, consulate, told, washington, travel, arabias, death, previously, week, saudi, haspel, jamal, cia, york, withdrawn, khashoggis, turkey, director

CIA director Haspel to travel to Turkey as part of investigation into Jamal Khashoggi's death

CIA Director Gina Haspel will travel to Turkey Monday as part of the U.S. government’s investigation into the death of Saudi journalist Jamal Khashoggi, a senior intelligence official with direct knowledge of the matter told NBC news.

Khashoggi, a Washington Post columnist and frequent critic of the Saudi royal family, entered Saudi Arabia’s consulate in Istanbul on Oct. 2 and never emerged. Saudi Arabia’s general prosecutor announced Saturday morning local time that Khashoggi was dead, walking back their earlier statements that insisted he left the consulate safely.

The Saudi government claimed Khashoggi died during a fight in the consulate, contrary to multiple other reports. Turkish officials told The New York Times that it has audio evidence which proves Khashoggi was tortured, killed and subsequently dismembered by a hit team of Saudi agents.

Treasury Secretary Steven Mnuchin met with Saudi crown prince Mohammed bin Salman on Monday as part of a previously scheduled talk to discuss fighting terrorism funding and Iran.

Mnuchin had previously withdrawn from the Future Investment Initiative conference taking place this week in the Riyadh due to mounting concerns over Saudi Arabia’s role in Khashoggi’s disappearance.

Company: cnbc, Activity: cnbc, Date: 2018-10-22  Authors: carmin chappell, hasan jamali
Keywords: news, cnbc, companies, investigation, khashoggi, consulate, told, washington, travel, arabias, death, previously, week, saudi, haspel, jamal, cia, york, withdrawn, khashoggis, turkey, director

Home › Forums

    • Forum
    • Topics
    • Posts
    • Last Post

  •  

Gold inches up on easing dollar, global concerns

Gold prices edged higher on Monday towards a 2-1/2-month peak hit last week as the dollar eased and worries over rising political tensions and slowing global economic growth lent support to the metal. One is global economic slowdown, another is geopolitical uncertainties,” said Argonaut Securities analyst Helen Lau. Gold is seen as a safe store of value during political and economic uncertainty. “Supportive price action around $1,210-$1,220 should restrict declines amid current global political

Gold prices edged higher on Monday towards a 2-1/2-month peak hit last week as the dollar eased and worries over rising political tensions and slowing global economic growth lent support to the metal. One is global economic slowdown, another is geopolitical uncertainties,” said Argonaut Securities analyst Helen Lau. Gold is seen as a safe store of value during political and economic uncertainty. “Supportive price action around $1,210-$1,220 should restrict declines amid current global political
Gold inches up on easing dollar, global concerns Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-22
Keywords: news, cnbc, companies, economic, week, gold, easing, concerns, support, political, inches, contracts, tensions, global, ounce, oct, dollar

Gold inches up on easing dollar, global concerns

Gold prices edged higher on Monday towards a 2-1/2-month peak hit last week as the dollar eased and worries over rising political tensions and slowing global economic growth lent support to the metal.

Spot gold was up 0.1 percent at $1,226.43 an ounce at 0745 GMT. On Oct. 15, the bullion touched its highest since July 26 at $1,233.26.

U.S. gold futures were up 0.1 percent at $1,229.40 an ounce.

“So far we are seeing a good recipe for gold prices to recover. One is global economic slowdown, another is geopolitical uncertainties,” said Argonaut Securities analyst Helen Lau. “If the tensions loom large we could see gold rebound through 1,300.”

The outlook for global growth in 2019 has dimmed for the first time, according to Reuters polls of economists who said the U.S.-China trade war and tightening financial conditions would trigger the next downturn.

Geo-political concerns including tensions between Saudi Arabia and the West over the killing of journalist Jamal Khashoggi, developments related to Brexit, and Italy’s budget woes are keeping investors interested in gold, analysts said.

Gold is seen as a safe store of value during political and economic uncertainty.

“Trade concerns between the U.S. and China remain elevated and the ongoing U.S.-Saudi tensions are likely to continue to underpin a bid tone for bullion over the near-term,” MKS PAMP Group traders said in a note.

“Supportive price action around $1,210-$1,220 should restrict declines amid current global political uncertainty, while a test through $1,230-$1,235 will likely squeeze further shorts out of the market and see gold toward $1,250.”

Gold speculators cut their net short position in COMEX gold contracts by 65,637 contracts to 37,372 contracts, the smallest since late July, in the week to Oct. 16, data showed.

Spot gold may either consolidate further below a resistance at $1,235 per ounce, or break a support at $1,217, to fall to the next support at $1,208, according to Reuters technical analyst Wang Tao.

Holdings in the world’s largest gold-backed exchange-traded fund, SPDR Gold Trust, fell 0.39 percent to 745.82 tonnes on Friday.

The U.S. dollar, which measures the greenback against a basket of six major currencies, was down 0.2 percent.

Among other precious metals, silver was up 0.4 percent at $14.65 per ounce, while platinum rose 0.8 percent at $836.20 per ounce.

Palladium climbed 0.9 percent to $1,089.80 per ounce, closer to an over eight-month peak of $1,096.80 hit on Oct. 11.

Company: cnbc, Activity: cnbc, Date: 2018-10-22
Keywords: news, cnbc, companies, economic, week, gold, easing, concerns, support, political, inches, contracts, tensions, global, ounce, oct, dollar

Home › Forums

    • Forum
    • Topics
    • Posts
    • Last Post

  •  

Google EU antitrust ruling does not threaten dominance

Last week, Google complied with the European Union’s $5 billion antitrust ruling by changing how it bundles its apps, and allowing phone manufacturers to make devices with modified — or “forked” — versions of Android alongside phones with Google’s version. But as details leak out about how exactly these changes will be structured, it’s hard to imagine that they’ll make a dent in Google’s mobile dominance in the EU. From the beginning, Google has denied stifling competition and is still appealing

Last week, Google complied with the European Union’s $5 billion antitrust ruling by changing how it bundles its apps, and allowing phone manufacturers to make devices with modified — or “forked” — versions of Android alongside phones with Google’s version. But as details leak out about how exactly these changes will be structured, it’s hard to imagine that they’ll make a dent in Google’s mobile dominance in the EU. From the beginning, Google has denied stifling competition and is still appealing
Google EU antitrust ruling does not threaten dominance Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-21  Authors: jillian donfro, david paul morris, bloomberg, getty images
Keywords: news, cnbc, companies, google, ruling, does, googles, android, week, versions, antitrust, threaten, changes, weakening, eu, dominance, worldwide

Google EU antitrust ruling does not threaten dominance

Last week, Google complied with the European Union’s $5 billion antitrust ruling by changing how it bundles its apps, and allowing phone manufacturers to make devices with modified — or “forked” — versions of Android alongside phones with Google’s version.

But as details leak out about how exactly these changes will be structured, it’s hard to imagine that they’ll make a dent in Google’s mobile dominance in the EU.

From the beginning, Google has denied stifling competition and is still appealing the EU’s decision, though these changes prevent it from having to pay additional fines in the meantime (it had 90 days to change its conduct before facing charges of up to 5 percent of Alphabet’s average daily worldwide revenue).

Still, Android, which Google gives away for free, has 74 percent market share in Europe, according to StatCounter. In July, EU antitrust regulators ruled that Google was using this dominance to push consumers towards its own search engine and other services —where it makes money — and weakening rival app makers in the process.

Company: cnbc, Activity: cnbc, Date: 2018-10-21  Authors: jillian donfro, david paul morris, bloomberg, getty images
Keywords: news, cnbc, companies, google, ruling, does, googles, android, week, versions, antitrust, threaten, changes, weakening, eu, dominance, worldwide

Home › Forums

    • Forum
    • Topics
    • Posts
    • Last Post

  •  

Where is the value in Chinese stocks?

Where is the value in Chinese stocks? 14 Hours AgoCertain banks, insurance and real estate companies have made a comeback after investors began bottom fishing last week, said Ken Wong of Eastspring Investments.

Where is the value in Chinese stocks? 14 Hours AgoCertain banks, insurance and real estate companies have made a comeback after investors began bottom fishing last week, said Ken Wong of Eastspring Investments.
Where is the value in Chinese stocks? Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-21
Keywords: news, cnbc, companies, value, hours, investors, wong, week, investments, stocks14, insurance, real, ken, chinese, stocks

Where is the value in Chinese stocks?

Where is the value in Chinese stocks?

14 Hours Ago

Certain banks, insurance and real estate companies have made a comeback after investors began bottom fishing last week, said Ken Wong of Eastspring Investments.

Company: cnbc, Activity: cnbc, Date: 2018-10-21
Keywords: news, cnbc, companies, value, hours, investors, wong, week, investments, stocks14, insurance, real, ken, chinese, stocks

Home › Forums

    • Forum
    • Topics
    • Posts
    • Last Post

  •  

Oil prices edge up, but set for weekly loss on stock build, trade row

Oil prices nudged higher on Friday on signs of surging demand in China, the world’s second-biggest oil user, though prices are set to fall for a second week amid concerns of the ongoing Sino-U.S. trade war is limiting overall economic activity. Brent crude oil futures were trading at $79.51 per barrel at 0521 GMT, up 22 cents, or 0.3 percent, from their last close. The trade war concerns combined with surging U.S. oil stockpiles reported on Thursday are capping the day’s price gains. Meanwhile,

Oil prices nudged higher on Friday on signs of surging demand in China, the world’s second-biggest oil user, though prices are set to fall for a second week amid concerns of the ongoing Sino-U.S. trade war is limiting overall economic activity. Brent crude oil futures were trading at $79.51 per barrel at 0521 GMT, up 22 cents, or 0.3 percent, from their last close. The trade war concerns combined with surging U.S. oil stockpiles reported on Thursday are capping the day’s price gains. Meanwhile,
Oil prices edge up, but set for weekly loss on stock build, trade row Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-19
Keywords: news, cnbc, companies, trade, iranian, prices, data, barrels, row, crude, weekly, edge, stock, oil, week, war, set, loss, build, million

Oil prices edge up, but set for weekly loss on stock build, trade row

Oil prices nudged higher on Friday on signs of surging demand in China, the world’s second-biggest oil user, though prices are set to fall for a second week amid concerns of the ongoing Sino-U.S. trade war is limiting overall economic activity.

Brent crude oil futures were trading at $79.51 per barrel at 0521 GMT, up 22 cents, or 0.3 percent, from their last close.

U.S. West Texas Intermediate (WTI) crude futures were up 19 cents, or 0.3 percent, at $68.84 a barrel.

For the week, Brent crude was 1.1 percent lower while WTI futures were down 3.5 percent, putting both on track for a second consecutive weekly decline.

Refinery throughput in China, the world’s second-largest oil importer, rose to a record high of 12.49 million barrels per day (bpd) in September as some independent plants restarted operations after prolonged shutdowns over summer to shore up inventories, government data showed on Friday.

The refinery consumption may rise through the fourth quarter as several state-owned Chinese refiners return to service after maintenance.

Undermining the strong refinery data, China did on Friday report its weakest economic growth since 2009 in the third quarter, with gross domestic product expanding by only 6.5 percent, missing estimates.

The weak economic data raised concerns that the country’s trade war with United States is beginning to have an impact on growth, which may limit China’s oil demand.

The trade war concerns combined with surging U.S. oil stockpiles reported on Thursday are capping the day’s price gains.

U.S. crude stocks last week climbed 6.5 million barrels, the fourth straight weekly build, almost triple the amount analysts had forecast, the U.S. Energy Information Administration said on Wednesday.

“EIA Weekly Petroleum Status Report was a complete shocker sending Oil markets spiralling lower amidst some concerning development for oil bulls,” said Stephen Innes, head of trading APAC at OANDA in Singapore.

Inventories rose sharply even as U.S. crude production slipped 300,000 barrels per day (bpd) to 10.9 million bpd last week due to the effects of offshore facilities closing temporarily for Hurricane Michael.

Meanwhile, Iranian oil exports may have increased in October when compared to the previous month as buyers rush to lift more cargoes ahead of looming U.S. sanctions that kick in on Nov. 4.

An unprecedented volume of Iranian crude oil is set to arrive at China’s northeast Dalian port this month and in early November before U.S. sanctions on Iran take effect, according to an Iranian shipping source and data on Refinitiv Eikon.

So far, a total of 22 million barrels of Iranian crude oil loaded on supertankers owned by the National Iranian Tanker Co (NITC) are expected to arrive at Dalian in October and November, the data showed. Dalian typically receives between 1 million and 3 million barrels of Iranian oil each month, according to data that dates back to January 2015.

Company: cnbc, Activity: cnbc, Date: 2018-10-19
Keywords: news, cnbc, companies, trade, iranian, prices, data, barrels, row, crude, weekly, edge, stock, oil, week, war, set, loss, build, million

Home › Forums

    • Forum
    • Topics
    • Posts
    • Last Post

  •  

Italian bond yields spike to 4-year highs as the EU slams its new budget plan

Italian sovereign debt yields hit fresh multi-year highs Friday morning, as investors grow cautious over lending to the embattled government after it unveiled new budget plans. Ten-year and 30-year bond yields — yields have an inverse relationship to a bond’s price — hit their highest levels since early 2014, according to Reuters, just hours after the European Union warned of rule breaches in Italy’s draft budget. The interest rate on the 10-year benchmark bond rose to 3.7410 percent by 9:00 a.m

Italian sovereign debt yields hit fresh multi-year highs Friday morning, as investors grow cautious over lending to the embattled government after it unveiled new budget plans. Ten-year and 30-year bond yields — yields have an inverse relationship to a bond’s price — hit their highest levels since early 2014, according to Reuters, just hours after the European Union warned of rule breaches in Italy’s draft budget. The interest rate on the 10-year benchmark bond rose to 3.7410 percent by 9:00 a.m
Italian bond yields spike to 4-year highs as the EU slams its new budget plan Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-19  Authors: matt clinch
Keywords: news, cnbc, companies, highs, hit, 4year, italian, early, week, warned, plan, spike, union, slams, eu, yields, italys, budget, unveiled, bond

Italian bond yields spike to 4-year highs as the EU slams its new budget plan

Italian sovereign debt yields hit fresh multi-year highs Friday morning, as investors grow cautious over lending to the embattled government after it unveiled new budget plans.

Ten-year and 30-year bond yields — yields have an inverse relationship to a bond’s price — hit their highest levels since early 2014, according to Reuters, just hours after the European Union warned of rule breaches in Italy’s draft budget.

The interest rate on the 10-year benchmark bond rose to 3.7410 percent by 9:00 a.m. London time after finishing Thursday at 3.673 percent. Shares on Milan’s FTSE MIB also slid 0.9 percent in early trade after steep losses in the previous session.

Investors have shown concerns over Italy’s 2019 budget, which was officially sent to the EU this week for analysis. The anti-establishment and partly right-wing government in Italy plans to increase public spending, sticking with campaign pledges before the general election in March this year.

Company: cnbc, Activity: cnbc, Date: 2018-10-19  Authors: matt clinch
Keywords: news, cnbc, companies, highs, hit, 4year, italian, early, week, warned, plan, spike, union, slams, eu, yields, italys, budget, unveiled, bond

Home › Forums

    • Forum
    • Topics
    • Posts
    • Last Post

  •  

Want to work for Jack Ma? These are the traits he looks for in a candidate

For Jack Ma, the man behind Chinese tech giant Alibaba, that’s a process that took him some time to master. Ma, speaking in the Indonesian resort island of Bali last week, recalled a hiring mistake he made in the early days of Alibaba. One of the VPs of marketing came to me, he gave me a proposal, he said: ‘Sir, this is our next year’s business marketing plan,'” Ma said at the annual meetings of the International Monetary Fund and the World Bank. But that employee admitted that he had never done

For Jack Ma, the man behind Chinese tech giant Alibaba, that’s a process that took him some time to master. Ma, speaking in the Indonesian resort island of Bali last week, recalled a hiring mistake he made in the early days of Alibaba. One of the VPs of marketing came to me, he gave me a proposal, he said: ‘Sir, this is our next year’s business marketing plan,'” Ma said at the annual meetings of the International Monetary Fund and the World Bank. But that employee admitted that he had never done
Want to work for Jack Ma? These are the traits he looks for in a candidate Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-19  Authors: yen nee lee, bloomberg
Keywords: news, cnbc, companies, ma, company, candidate, week, fault, plan, hiring, business, looks, world, jack, million, work, traits, marketing

Want to work for Jack Ma? These are the traits he looks for in a candidate

Growing a company requires hiring the right people. For Jack Ma, the man behind Chinese tech giant Alibaba, that’s a process that took him some time to master.

Ma, speaking in the Indonesian resort island of Bali last week, recalled a hiring mistake he made in the early days of Alibaba.

“When I raised my first round of funds, it was $5 million. I hired a lot of vice presidents from multinational companies. One of the VPs of marketing came to me, he gave me a proposal, he said: ‘Sir, this is our next year’s business marketing plan,'” Ma said at the annual meetings of the International Monetary Fund and the World Bank.

As it turned out, that plan was designed to cost $12 million — way over the spending budget that the company could afford back then, Ma explained. But that employee admitted that he had never done a business plan below $10 million.

“So I said: ‘Alright, it’s not his fault, it’s my fault,'” Ma said, adding that he realized his decision to hire those people then was akin to placing a Boeing 747 engine into a tractor.

Company: cnbc, Activity: cnbc, Date: 2018-10-19  Authors: yen nee lee, bloomberg
Keywords: news, cnbc, companies, ma, company, candidate, week, fault, plan, hiring, business, looks, world, jack, million, work, traits, marketing

Home › Forums

    • Forum
    • Topics
    • Posts
    • Last Post

  •  

Gold posts third weekly gain as stocks dip

Every Federal Reserve policy maker backed raising interest rates last month, according to September meeting minutes released on Wednesday. Rising interest rates are normally negative for gold since they could boost the dollar and also increase the opportunity cost of holding non-yielding bullion. It is finding support from increased risk aversion among market participants, as reflected in falling stock markets, and from additional ETF (exchange traded fund) inflows.” Holdings of the SPDR Gold Tr

Every Federal Reserve policy maker backed raising interest rates last month, according to September meeting minutes released on Wednesday. Rising interest rates are normally negative for gold since they could boost the dollar and also increase the opportunity cost of holding non-yielding bullion. It is finding support from increased risk aversion among market participants, as reflected in falling stock markets, and from additional ETF (exchange traded fund) inflows.” Holdings of the SPDR Gold Tr
Gold posts third weekly gain as stocks dip Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-19
Keywords: news, cnbc, companies, really, posts, weekly, stock, interest, markets, technical, gold, gained, week, investors, gain, rates, stocks, dip

Gold posts third weekly gain as stocks dip

Gold prices edged up on Friday, the metal’s third week of gains as weaker stock markets spurred investors to seek refuge in bullion, which also gained technical momentum after scaling major milestones.

Spot gold added 0.14 percent to $1,226.66 per ounce. The metal gained 0.7 percent this week, after hitting a 2-1/2-month high at $1,233.26 on Monday.

U.S. gold futures were settled down $1.40 at $1,228.70.

“Gold has done really well to hold up here, given the Fed was really hawkish. Sensitivity to equity markets is helping gold at the moment,” Macquarie commodity strategist Matthew Turner said.

“We are entering a new paradigm, where any further rate hike could be a sign that the economy is overheating a bit, which should be more positive for gold and problematic for equities.”

Every Federal Reserve policy maker backed raising interest rates last month, according to September meeting minutes released on Wednesday.

Rising interest rates are normally negative for gold since they could boost the dollar and also increase the opportunity cost of holding non-yielding bullion.

In wider markets, European stocks tumbled again as a showdown between Italy’s government and the European Union loomed.

“Today’s attempt by gold to lastingly exceed the 100-day moving average looks promising. If it succeeds, technical follow-up buying should push the gold price further up,” Commerzbank analysts said in a note.

“At the same time, gold is resisting the firm U.S. dollar. It is finding support from increased risk aversion among market participants, as reflected in falling stock markets, and from additional ETF (exchange traded fund) inflows.”

Holdings of the SPDR Gold Trust, the largest gold-backed ETF, have gained 2.5 percent in the past two weeks.

The recent sell-off in global stock markets has boosted gold’s appeal, as some investors see it as a safe store of value during political and economic uncertainty.

Company: cnbc, Activity: cnbc, Date: 2018-10-19
Keywords: news, cnbc, companies, really, posts, weekly, stock, interest, markets, technical, gold, gained, week, investors, gain, rates, stocks, dip

Home › Forums

    • Forum
    • Topics
    • Posts
    • Last Post

  •