Here are the biggest analyst calls of the day: Hewlett Packard, Nike, L Brands & more

Raymond James said in its upgrade that the company has a “strong” balance sheet and a dividend that continues to increase. “Recognizing that we do not live in a vacuum, we acknowledge that China tariffs and potential recession worries combine to frighten some to the sidelines. Accordingly, we are using our less-than- strongest rating, not for lack of conviction, but on the supposition that investors may need to be patient while the market comes to recognize LZB’s value. That said, La-Z-Boy’s bal


Raymond James said in its upgrade that the company has a “strong” balance sheet and a dividend that continues to increase. “Recognizing that we do not live in a vacuum, we acknowledge that China tariffs and potential recession worries combine to frighten some to the sidelines. Accordingly, we are using our less-than- strongest rating, not for lack of conviction, but on the supposition that investors may need to be patient while the market comes to recognize LZB’s value. That said, La-Z-Boy’s bal
Here are the biggest analyst calls of the day: Hewlett Packard, Nike, L Brands & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-23  Authors: michael bloom
Keywords: news, cnbc, companies, balance, vacuum, packard, analyst, value, upgrade, nike, day, dividend, worries, brands, sheet, calls, weeks, hewlett, biggest, strong, using


Here are the biggest analyst calls of the day: Hewlett Packard, Nike, L Brands & more

Raymond James said in its upgrade that the company has a “strong” balance sheet and a dividend that continues to increase.

“Recognizing that we do not live in a vacuum, we acknowledge that China tariffs and potential recession worries combine to frighten some to the sidelines. Accordingly, we are using our less-than- strongest rating, not for lack of conviction, but on the supposition that investors may need to be patient while the market comes to recognize LZB’s value. That said, La-Z-Boy’s balance sheet is strong with no funded debt and the dividend has increased each year since 2013. In addition, the host of retail earnings over the last two weeks seem to point to a healthy U.S. consumer. “


Company: cnbc, Activity: cnbc, Date: 2019-08-23  Authors: michael bloom
Keywords: news, cnbc, companies, balance, vacuum, packard, analyst, value, upgrade, nike, day, dividend, worries, brands, sheet, calls, weeks, hewlett, biggest, strong, using


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Apple reportedly plans to launch two ‘Pro’ iPhones within weeks

A customer looks at Apple’s new iPhone XS after it went on sale at the Apple Store in Tokyo, Japan, September 21, 2018. Apple plans to unveil three new iPhones next month, including two new “Pro” models and a successor to the iPhone XR, Bloomberg reported Thursday. The “Pro” models are meant to replace the iPhone XS and iPhone XS Max, according to the report. They’ll be packed with major upgrades to the rear-facing camera, including a sensor for capturing ultra-wide-angle photos and videos, whic


A customer looks at Apple’s new iPhone XS after it went on sale at the Apple Store in Tokyo, Japan, September 21, 2018. Apple plans to unveil three new iPhones next month, including two new “Pro” models and a successor to the iPhone XR, Bloomberg reported Thursday. The “Pro” models are meant to replace the iPhone XS and iPhone XS Max, according to the report. They’ll be packed with major upgrades to the rear-facing camera, including a sensor for capturing ultra-wide-angle photos and videos, whic
Apple reportedly plans to launch two ‘Pro’ iPhones within weeks Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-22  Authors: annie palmer
Keywords: news, cnbc, companies, weeks, reportedly, iphone, enabling, iphones, plans, apple, bloomberg, models, according, pro, xs, report, camera, launch


Apple reportedly plans to launch two 'Pro' iPhones within weeks

A customer looks at Apple’s new iPhone XS after it went on sale at the Apple Store in Tokyo, Japan, September 21, 2018.

Apple plans to unveil three new iPhones next month, including two new “Pro” models and a successor to the iPhone XR, Bloomberg reported Thursday.

The “Pro” models are meant to replace the iPhone XS and iPhone XS Max, according to the report. They’ll be packed with major upgrades to the rear-facing camera, including a sensor for capturing ultra-wide-angle photos and videos, which is a first for Apple, according to Bloomberg. The new camera system will also allow for better photos in low-light environments, while enabling things like the ability to capture three images at once.

Apple plans to add a second rear camera to the iPhone XR successor, enabling features like enhanced portrait mode, as well as optical zoom, which allows users to zoom in further without impacting quality, Bloomberg reported.

All the new models are expected to include a new multi-angle Face ID sensor, enabling users to unlock their device even if it’s laying flat on a table, Bloomberg reported. Apple is said to be bringing faster A13 processors to each of the three iPhones, which is likely to power improved computer vision and augmented reality capabilities.

Aside from iPhones, the company is also likely to release refreshed iPads and MacBook Pros in the fall, according to the report. It’s also working on updated versions of AirPods and the HomePod smart speaker.

Representatives from Apple were not immediately available for comment.

Read the full Bloomberg report here.


Company: cnbc, Activity: cnbc, Date: 2019-08-22  Authors: annie palmer
Keywords: news, cnbc, companies, weeks, reportedly, iphone, enabling, iphones, plans, apple, bloomberg, models, according, pro, xs, report, camera, launch


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Home Depot is building up a big rally, says top technician

Last week’s wild market swings hit nearly everywhere on Wall Street. If you zoom out just a bit, are there any areas in the market that have provided a relative safe haven? As Cornerstone Macro Head of Technical Analysis Carter Worth pointed out Friday on CNBC’s “Options Action” that yes, there are. While other stocks have struggled, the current interest rate environment has helped keep this group afloat as it gets easier to borrow money to build or renovate housing. Even in periods where Home D


Last week’s wild market swings hit nearly everywhere on Wall Street. If you zoom out just a bit, are there any areas in the market that have provided a relative safe haven? As Cornerstone Macro Head of Technical Analysis Carter Worth pointed out Friday on CNBC’s “Options Action” that yes, there are. While other stocks have struggled, the current interest rate environment has helped keep this group afloat as it gets easier to borrow money to build or renovate housing. Even in periods where Home D
Home Depot is building up a big rally, says top technician Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-19  Authors: tyler bailey
Keywords: news, cnbc, companies, worth, homebuilder, rally, way, depot, technician, market, rate, weeks, big, thats, pointed, interest, building


Home Depot is building up a big rally, says top technician

Last week’s wild market swings hit nearly everywhere on Wall Street.

But how about over the last month? If you zoom out just a bit, are there any areas in the market that have provided a relative safe haven?

As Cornerstone Macro Head of Technical Analysis Carter Worth pointed out Friday on CNBC’s “Options Action” that yes, there are.

“We’re going to focus on Home Depot. We know that homebuilders, actually, as a group — while this is not a homebuilder — the actual builders have done nothing for three weeks, ” said Worth, “but that’s called outperformance compared to the market. That’s probably because of rates.”

While other stocks have struggled, the current interest rate environment has helped keep this group afloat as it gets easier to borrow money to build or renovate housing. Home Depot may not be a homebuilder in the way that a company like Lennar is, but in interest rate environments like this one, it’s a primary beneficiary of a consumer who’s willing to spend on their home.

Even in periods where Home Depot struggles, as Worth pointed out, the stock acts predictably during its sell-offs, which makes it easier to look for a bounce. He thinks another one is on the way.


Company: cnbc, Activity: cnbc, Date: 2019-08-19  Authors: tyler bailey
Keywords: news, cnbc, companies, worth, homebuilder, rally, way, depot, technician, market, rate, weeks, big, thats, pointed, interest, building


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Gold sheds 2% on signs of US-China trade thaw

Spot gold was down 0.7% at $1,501.36 per ounce, having earlier hit its highest level since April 2013 at $1,534.31. U.S. gold futures were down 0.3% to $1,512.6 an ounce. “While this does not dramatically dim the overall positive outlook for gold, it will temper its momentum in the short term.” Meanwhile, holdings in the world’s largest gold-backed exchange-traded fund, SPDR Gold Trust, jumped 0.9% to 847.77 tonnes on Monday. Among other precious metals, silver fell 0.5% to $16.97 per ounce, whi


Spot gold was down 0.7% at $1,501.36 per ounce, having earlier hit its highest level since April 2013 at $1,534.31. U.S. gold futures were down 0.3% to $1,512.6 an ounce. “While this does not dramatically dim the overall positive outlook for gold, it will temper its momentum in the short term.” Meanwhile, holdings in the world’s largest gold-backed exchange-traded fund, SPDR Gold Trust, jumped 0.9% to 847.77 tonnes on Monday. Among other precious metals, silver fell 0.5% to $16.97 per ounce, whi
Gold sheds 2% on signs of US-China trade thaw Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-13
Keywords: news, cnbc, companies, sides, precious, signs, trading, gold, tariffs, uschina, sheds, products, earlier, ounce, trade, weeks, thaw


Gold sheds 2% on signs of US-China trade thaw

Gold fell 2% on Tuesday, reversing course from earlier in the session when it scaled a six-year peak, after the United States said it would delay tariffs on some Chinese products and on news that both sides agreed to continue trade talks.

Spot gold was down 0.7% at $1,501.36 per ounce, having earlier hit its highest level since April 2013 at $1,534.31. U.S. gold futures were down 0.3% to $1,512.6 an ounce.

The Office of the U.S. Trade Representative said the Trump administration will delay 10% tariffs on certain Chinese products, including laptops and cell phones, that had been scheduled to start next month.

“A thawing, perhaps reconsideration of the new proposed tariffs has drained the heat from the (gold) rally for now,” said Tai Wong, head of base and precious metals derivatives trading at BMO.

“While this does not dramatically dim the overall positive outlook for gold, it will temper its momentum in the short term.”

U.S. stocks turned positive and the dollar rose on the news, with further momentum also coming from news that both sides had agreed to conduct phone calls on trade again in two weeks.

“Gold will be trading in a defensive position until the next two weeks; there will be some buying at the dips but the explosive moves higher we’ve seen in the last two weeks is not expected with the trade talks hanging over the market,” said Bob Haberkorn, senior market strategist at RJO Futures.

Gold’s rise to over 6-year highs earlier in the day was triggered by a rout in the Argentine peso and protesters clashing with police at the Hong Kong international airport after flights were disrupted for a second day.

Market focus is now on the U.S. Federal Reserve’s annual symposium next week for clues on the future trajectory of interest rates. Traders see a 91.2% chance of a 25 basis-point rate cut by the U.S. central bank this September.

Meanwhile, holdings in the world’s largest gold-backed exchange-traded fund, SPDR Gold Trust, jumped 0.9% to 847.77 tonnes on Monday.

Among other precious metals, silver fell 0.5% to $16.97 per ounce, while platinum was up 0.5% to $856.41. Palladium, meanwhile gained 2% to $1,456.20 an ounce.


Company: cnbc, Activity: cnbc, Date: 2019-08-13
Keywords: news, cnbc, companies, sides, precious, signs, trading, gold, tariffs, uschina, sheds, products, earlier, ounce, trade, weeks, thaw


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Cathay Pacific suspends pilot for involvement in Hong Kong protests

Cathay Pacific shares fell more than 4% on Monday after the carrier announced it had suspended a pilot for his involvement in Hong Kong’s anti-government protests. The airline said Saturday that employees who “support or take part in illegal protests, violent actions, or overly radical behaviour” would be barred from crewing flights to mainland China. Hong Kong — a former British colony that was returned to Chinese rule in 1997 — has been struggling to end weeks of protests that have in recent w


Cathay Pacific shares fell more than 4% on Monday after the carrier announced it had suspended a pilot for his involvement in Hong Kong’s anti-government protests. The airline said Saturday that employees who “support or take part in illegal protests, violent actions, or overly radical behaviour” would be barred from crewing flights to mainland China. Hong Kong — a former British colony that was returned to Chinese rule in 1997 — has been struggling to end weeks of protests that have in recent w
Cathay Pacific suspends pilot for involvement in Hong Kong protests Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-12  Authors: grace shao
Keywords: news, cnbc, companies, pacific, pilot, china, suspends, involvement, violent, kong, protests, weeks, turned, hong, unrest, mainland, cathay, flights


Cathay Pacific suspends pilot for involvement in Hong Kong protests

Cathay Pacific shares fell more than 4% on Monday after the carrier announced it had suspended a pilot for his involvement in Hong Kong’s anti-government protests.

The airline said Saturday that employees who “support or take part in illegal protests, violent actions, or overly radical behaviour” would be barred from crewing flights to mainland China. It also confirmed that one of its pilots was removed from his duties since July 30.

The pilot was reportedly among over 40 people charged with rioting, during clashes with police near Beijing’s main representative office in the city.

Hong Kong — a former British colony that was returned to Chinese rule in 1997 — has been struggling to end weeks of protests that have in recent weeks turned increasingly violent and disruptive.

The rallies, which were started to protest a bill that would have allowed people to be extradited to mainland China, have snowballed into a democracy movement, with some even demanding full autonomy from Beijing.

The unrest has frequently crippled the Asian financial hub’s transportation system and last Monday, Cathay cancelled hundreds of flights during a general strike.


Company: cnbc, Activity: cnbc, Date: 2019-08-12  Authors: grace shao
Keywords: news, cnbc, companies, pacific, pilot, china, suspends, involvement, violent, kong, protests, weeks, turned, hong, unrest, mainland, cathay, flights


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Wall Street analysts worry these stocks are caught in the deepening US-China trade war

Wall Street analysts are scrambling to asses the damage in the latest fallout in the trade war between the U.S. and China. CNBC did a deep dive through the most recent Wall Street research to see what stocks analysts fear will be most hurt by the latest tariff. They include names such as Dollar Tree, Abercrombie & Fitch, Rio Tinto, O’Reilly Automotive, Michaels Companies, Advanced Micro Devices, & Nvidia. This week, Dollar Tree was the subject of a downgrade by Deutsche Bank analysts. Here’s wha


Wall Street analysts are scrambling to asses the damage in the latest fallout in the trade war between the U.S. and China. CNBC did a deep dive through the most recent Wall Street research to see what stocks analysts fear will be most hurt by the latest tariff. They include names such as Dollar Tree, Abercrombie & Fitch, Rio Tinto, O’Reilly Automotive, Michaels Companies, Advanced Micro Devices, & Nvidia. This week, Dollar Tree was the subject of a downgrade by Deutsche Bank analysts. Here’s wha
Wall Street analysts worry these stocks are caught in the deepening US-China trade war Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-11  Authors: michael bloom
Keywords: news, cnbc, companies, deepening, worry, trade, retailer, war, tree, wall, tariff, caught, stocks, analysts, uschina, street, weeks, start, dollar, times


Wall Street analysts worry these stocks are caught in the deepening US-China trade war

Wall Street analysts are scrambling to asses the damage in the latest fallout in the trade war between the U.S. and China.

President Donald Trump recently announced that a new 10% tariff would go into effect on $300 billion worth of Chinese goods beginning September 1.

The S&P 500 is down around 2% since then and analysts fear the ratcheting up of trade tensions along with the new tariff will lead to trouble for a wide range of stocks they cover.

CNBC did a deep dive through the most recent Wall Street research to see what stocks analysts fear will be most hurt by the latest tariff. They include names such as Dollar Tree, Abercrombie & Fitch, Rio Tinto, O’Reilly Automotive, Michaels Companies, Advanced Micro Devices, & Nvidia.

Retail is widely believed to be one of the sectors most impacted because the latest round of tariffs target clothing and other consumer goods according to many analysts.

This week, Dollar Tree was the subject of a downgrade by Deutsche Bank analysts. The firm said that while it liked the discount retailer, it couldn’t ignore the looming tariff threat.

“We still view [Dollar Tree] as a high quality retailer with a well regarded management team … However, we can’t ignore choppy execution at Family Dollar, and our refreshed tariff math … shows material downside risk to estimates, with [Dollar Tree] among the most vulnerable companies in our coverage,” they said.

The new tariff couldn’t come at a worse time for multinational semiconductor companies like Advanced Micro Devices & Nvidia.

“Supplier shipment times already in the critical window,” Mizuho analysts said.

“The sudden announcement does not leave much time for suppliers to build inventories or pull-in as shipment times are 2-4 weeks and the tariff start is 4 weeks away. … We believe normal sea shipping times are 2 weeks from China to the West coast to 4 weeks to the East coast NY ports,” the analysts said.

“Unless the U.S administration gives a waiver to shipments already enroute before the Sep-1st start date or where orders have been placed, theoretically we could see tariff impact on many of the shipments start sooner.”

Recently, analysts at Credit Suisse attended an investor day for auto parts retailer O’Reilly Automotive. While the brokerage said it came away impressed from the meetings, it admitted it still couldn’t recommend the stock.

“The near to medium term story includes a challenging recipe of using price increases to offset tariffs and SG&A cost pressures, but with added uncertainty now on elasticity and how the consumer will respond to the next rounds of price increases. That, combined with consensus 2020 estimates that embed improving operating margins, and the stock’s premium valuation, keeps us on the sidelines,” they said in their note to clients.

Here’s what else analysts are saying about stocks caught in the U.S.-China trade war:


Company: cnbc, Activity: cnbc, Date: 2019-08-11  Authors: michael bloom
Keywords: news, cnbc, companies, deepening, worry, trade, retailer, war, tree, wall, tariff, caught, stocks, analysts, uschina, street, weeks, start, dollar, times


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Stocks still have room to fall, but look to buy the dip, JP Morgan says

Stocks have fallen sharply as a trade war between the world’s two biggest economies ramped up in the past week, and according J.P. Morgan, it’s a good time to start buying. Equity markets could still be in for a few more weeks of pain, but J.P. Morgan head of global and European equity, Mislav Matejka, expects an eventual rebound. In the meantime, he recommended that clients “look to buy the dip.” “Given these, and as we are in what is seasonally the poorest time of the year, markets could exper


Stocks have fallen sharply as a trade war between the world’s two biggest economies ramped up in the past week, and according J.P. Morgan, it’s a good time to start buying. Equity markets could still be in for a few more weeks of pain, but J.P. Morgan head of global and European equity, Mislav Matejka, expects an eventual rebound. In the meantime, he recommended that clients “look to buy the dip.” “Given these, and as we are in what is seasonally the poorest time of the year, markets could exper
Stocks still have room to fall, but look to buy the dip, JP Morgan says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-05  Authors: kate rooney
Keywords: news, cnbc, companies, dip, buy, york, room, matejka, morgan, fall, stocks, recession, trade, worth, weeks, look, jp, week


Stocks still have room to fall, but look to buy the dip, JP Morgan says

Traders and financial professionals work ahead of the closing bell on the floor of the New York Stock Exchange (NYSE) on August 1, 2019 in New York City.

Stocks have fallen sharply as a trade war between the world’s two biggest economies ramped up in the past week, and according J.P. Morgan, it’s a good time to start buying.

Equity markets could still be in for a few more weeks of pain, but J.P. Morgan head of global and European equity, Mislav Matejka, expects an eventual rebound. In the meantime, he recommended that clients “look to buy the dip.”

“Our core view remains that one should use the prospective weakness as an opportunity to add,” Matejka said in a note to clients Monday. “We continue to believe that global equities will advance further before the next U.S. recession strikes.”

Matejka likened the recent weakness to May, when stocks struggled but bounced back by mid-June. He acknowledged recent headwinds like the dollar index breaking out and renewed trade escalation. The Dow Jones Industrial Average dropped as much as 500 points Monday as the trade war between the U.S. and China intensified. China, which has historically controlled its currency, allowed the yuan to fall to its lowest level against the dollar in more than a decade.

Last week, President Donald Trump announced that the U.S. would impose a 10% tariff on $300 billion worth of Chinese imports, effective Sept. 1. The news pushed the S&P 500 to its worst weekly performance of the year.

“Given these, and as we are in what is seasonally the poorest time of the year, markets could experience a few weeks worth of a pullback,” he said.

Still, Matejka said it’s “premature to expect a recession over the next quarters.” And while the Federal Reserve is easing, recession indicators like jobless claims have remained stable. When the Fed cuts interest rates as insurance, as it did last week and it isn’t followed by a recession, the next three, six and 12 months equity returns have historically been “very strong,” Matejka said.

“A U.S. recession has never started while the unemployment rate was falling,” he said. Earnings are also better than feared, with as many as 50% of companies raising guidance for the year.

Matejka is overweight U.S. equities thanks to record high buybacks and better earnings growth compared to the rest of the world. The firm is also overweight Japanese stocks, where valuations “appear very attractive”and positioning looks extremely light. J.P. Morgan is neutral on the Eurozone, where stocks “will advance in absolute terms, but are unlikely to outperform the U.S.” and underweight U.K. based on the political backdrop.


Company: cnbc, Activity: cnbc, Date: 2019-08-05  Authors: kate rooney
Keywords: news, cnbc, companies, dip, buy, york, room, matejka, morgan, fall, stocks, recession, trade, worth, weeks, look, jp, week


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Gold steadies, on course for weekly gain as dollar eases on US data

Spot gold was steady at $1,442.46 per ounce, retracing earlier declines of about 1%. Gold has been supported by a “big push by global major central banks to lower interest rates in light of deteriorating macro conditions,” INTL FCStone analyst Edward Meir said. “The one thing restraining gold a little was the strength in the dollar, but with the dollar weaker today, it seems to have opened up some running room for gold on the upside.” Data pointing to slow U.S. job growth in July, coupled with a


Spot gold was steady at $1,442.46 per ounce, retracing earlier declines of about 1%. Gold has been supported by a “big push by global major central banks to lower interest rates in light of deteriorating macro conditions,” INTL FCStone analyst Edward Meir said. “The one thing restraining gold a little was the strength in the dollar, but with the dollar weaker today, it seems to have opened up some running room for gold on the upside.” Data pointing to slow U.S. job growth in July, coupled with a
Gold steadies, on course for weekly gain as dollar eases on US data Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-02
Keywords: news, cnbc, companies, trade, steadies, gain, dollar, silver, weeks, rates, interest, course, eases, analyst, higher, gold, weekly, data, ounce


Gold steadies, on course for weekly gain as dollar eases on US data

Gold steadied on Friday in seesaw trade as the dollar retreated on lackluster U.S. jobs data, putting bullion on course to notch its best week in six weeks following a surge of more than 2% in the previous session as U.S.-China trade relations soured further.

Spot gold was steady at $1,442.46 per ounce, retracing earlier declines of about 1%. The yellow metal is up nearly 2% so far this week. U.S. gold futures settled 1.8% higher at $1,457.50.

Gold has been supported by a “big push by global major central banks to lower interest rates in light of deteriorating macro conditions,” INTL FCStone analyst Edward Meir said.

“The one thing restraining gold a little was the strength in the dollar, but with the dollar weaker today, it seems to have opened up some running room for gold on the upside.”

Bullion rose more than 2% on Thursday after U.S. President Donald Trump said he would slap an extra 10% tariff on $300 billion worth of Chinese imports and would raise it further if trade talks do not progress.

“(It’s) a bit of a psychological move. Prices have been around these levels ($1,440-$1,450/oz) a few times now, and it has difficulty to push higher, which makes investors a bit more nervous,” ABN Amro analyst Georgette Boele said.

Data pointing to slow U.S. job growth in July, coupled with an escalation in trade tensions, could give the Federal Reserve fresh ammunition to cut interest rates again next month.

“The trend in gold is up,” said Bob Haberkorn, senior market strategist at RJO Futures.

Lower interest rates tend to boost gold as they reduce the opportunity cost of holding non-yielding bullion and also weigh on the dollar.

Spot gold may retest resistance at $1,449 per ounce, a break above which could lead to a rise into the $1,461-$1,474 per ounce range, Reuters technical analyst Wang Tao said.

Separately, palladium fell 1.5 % to $1,403.41 per ounce, after breaking below the $1,400 level for the first time since mid-June to its lowest in more than seven weeks at $1,378.50.

Platinum was up 0.3% at $846.30 per ounce, while silver fell 0.4% to $16.26 per ounce.

“The scenario is slightly more complicated for silver, as the component of the demand for this metal coming from the industrial sector is much higher than gold and the trade war could have a more significant impact,” Carlo Alberto De Casa, chief analyst, ActivTrades, said in a client note.

Both silver and platinum appeared set for their first weekly decline in four weeks.


Company: cnbc, Activity: cnbc, Date: 2019-08-02
Keywords: news, cnbc, companies, trade, steadies, gain, dollar, silver, weeks, rates, interest, course, eases, analyst, higher, gold, weekly, data, ounce


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Sterling slides toward $1.21 on rising ‘no-deal’ Brexit fears

The pound plunged further toward $1.21 on Tuesday morning as rhetoric from Britain’s new Prime Minister Boris Johnson heightened concerns that the U.K. could leave the European Union without a deal on October 31. By Tuesday afternoon, sterling had recovered slightly from its early depths to trade at around $1.2176, another 0.4% down on Monday’s close, having fallen as low as $1.2120 overnight to reach its lowest level against the greenback since March 2017. Johnson’s new team of ministers have b


The pound plunged further toward $1.21 on Tuesday morning as rhetoric from Britain’s new Prime Minister Boris Johnson heightened concerns that the U.K. could leave the European Union without a deal on October 31. By Tuesday afternoon, sterling had recovered slightly from its early depths to trade at around $1.2176, another 0.4% down on Monday’s close, having fallen as low as $1.2120 overnight to reach its lowest level against the greenback since March 2017. Johnson’s new team of ministers have b
Sterling slides toward $1.21 on rising ‘no-deal’ Brexit fears Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-30  Authors: elliot smith
Keywords: news, cnbc, companies, withdrawal, trade, rising, 121, pound, fears, tepid, sterling, nodeal, prime, minister, weeks, union, fallen, brexit, slides, uk


Sterling slides toward $1.21 on rising 'no-deal' Brexit fears

The pound plunged further toward $1.21 on Tuesday morning as rhetoric from Britain’s new Prime Minister Boris Johnson heightened concerns that the U.K. could leave the European Union without a deal on October 31.

By Tuesday afternoon, sterling had recovered slightly from its early depths to trade at around $1.2176, another 0.4% down on Monday’s close, having fallen as low as $1.2120 overnight to reach its lowest level against the greenback since March 2017.

Johnson’s new team of ministers have been keen to espouse the message that the U.K. is now preparing for a no-deal departure, a move expected by many to be a “cliff-edge” scenario which could profoundly damage the British economy.

The prime minister said Monday that the current withdrawal agreement between Britain and the EU is “dead.”

Sterling has fallen against the euro for 12 consecutive weeks, and the brief and tepid signs of a relief rally on Tuesday failed to dampen pessimism from analysts over the outlook for the pound.


Company: cnbc, Activity: cnbc, Date: 2019-07-30  Authors: elliot smith
Keywords: news, cnbc, companies, withdrawal, trade, rising, 121, pound, fears, tepid, sterling, nodeal, prime, minister, weeks, union, fallen, brexit, slides, uk


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Between gold, silver and bitcoin, here’s the most popular safety play with traders

Gold, silver or bitcoin? “They forgot silver, but … silver sometimes lags gold and then catches up all at once. U.S. gold futures were trading around $1,419 on Friday. A couple of reasons: [The] dollar’s been really strong, and that’s going to impact silver less than gold.” Gold and silver traded sideways on Friday as investors looked ahead to the Federal Reserve’s pivotal meeting next week.


Gold, silver or bitcoin? “They forgot silver, but … silver sometimes lags gold and then catches up all at once. U.S. gold futures were trading around $1,419 on Friday. A couple of reasons: [The] dollar’s been really strong, and that’s going to impact silver less than gold.” Gold and silver traded sideways on Friday as investors looked ahead to the Federal Reserve’s pivotal meeting next week.
Between gold, silver and bitcoin, here’s the most popular safety play with traders Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-26  Authors: lizzy gurdus
Keywords: news, cnbc, companies, traders, nations, heres, popular, play, months, weeks, week, silver, safety, iuorio, upside, gold, futures, bitcoin


Between gold, silver and bitcoin, here's the most popular safety play with traders

Gold, silver or bitcoin?

That question is likely coming into focus for investors and traders as they seek safety or protection with the stock market at record highs.

But, for some, there are clear winners in the group.

“Since last November — so, for about eight months or so — when the Fed started to move towards dovish, people flocked to gold and to bitcoin and they ran them both up,” Jim Iuorio, a veteran futures and options trader, said Tuesday on CNBC’s “Futures Now.” “They forgot silver, but … silver sometimes lags gold and then catches up all at once. We’ve seen that in the last couple weeks.”

Now, trust in the trio is being tested. Gold is up almost 11% this year, with most of that run occurring in the last three months; silver is up over 9% in the last three months and is on track for its third straight week of gains; and the Wild West that is bitcoin is up over 150% this year and has seen huge swings in both directions in the last several weeks.

“Bitcoin, all of a sudden, has shown some drastic volatility over the last two weeks, including a $3,000 drop in about a minute two weeks ago,” said Iuorio, who is managing director of TJM Institutional Services.

“So, to me, bitcoin’s out,” he said. “Silver’s rallied hard recently. That leaves gold. Yes, the dollar’s rallying. Gold and the dollar have rallied together at the same time before. I like gold the best.”

On Tuesday, Iuorio — who said that he was long gold and planned on growing his long position — put on a gold trade by buying $1,428 contracts with an upside target of $1,448 and a downside stop at $1,417. U.S. gold futures were trading around $1,419 on Friday.

Scott Nations, president of NationsShares, was less inclined to go for gold because of what he called its “horrible technical setup.”

“It had a key reversal,” he said in the same “Futures Now” segment. “I’m not the biggest technician in the world, but I pay attention to key reversals. What does that mean? It means that the contract made a new high and finished lower on the day, and that’s horrible. And, since then, gold has been terrible.”

Instead, the longtime options trader settled for the second-most-popular precious metal: silver.

“I would much rather own silver. … I would be a buyer of the September contracts [at] $16.45,” Nations said. “Silver’s actually remained strong. My target to the upside would be $17.50 and my stop to the downside would be $15.75. A couple of reasons: [The] dollar’s been really strong, and that’s going to impact silver less than gold.”

Silver will be slightly more protected that gold amid dollar strength because of its variety of “industrial uses” and fewer ties to interest rates, Nations explained.

And, if the precious metal can indeed hold up and head higher, Iuorio wasn’t opposed to trading it, either.

“I think if silver shows a little more strength, I like silver, too. I mean, just for the fun of it, I’ll say Scott’s wrong and gold’s way better, but I don’t hate his trade,” he said.

Gold and silver traded sideways on Friday as investors looked ahead to the Federal Reserve’s pivotal meeting next week. Bitcoin shed over 1%.

Disclaimer


Company: cnbc, Activity: cnbc, Date: 2019-07-26  Authors: lizzy gurdus
Keywords: news, cnbc, companies, traders, nations, heres, popular, play, months, weeks, week, silver, safety, iuorio, upside, gold, futures, bitcoin


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