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Posts Tagged ‘gold’

Powell refuses chance to say the Fed is on interest rate hold through 2020

Given a chance to say that the Federal Reserve will keep its interest rate policy on hold through 2020, Fed chair Jerome Powell refused to take the bait at this morning's testimony in front of the congressional Joint Economic Committee.  “We see the current stance of monetary policy as likely to remain appropriate as long […]

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Today the market is in “Give back some of those gains” mode on a disappointing retail sales report

It would be an overstatement, in my opinion, to say the market is trendless. I think there's a definite and but unspectacular bias to the upside in the short-term--four weeks, say. It would be accurate, however, to say, there's not much conviction to that trend. So the market gives back some upside gains whenever there's […]

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So last Friday’s “agreement” on U.S.-China trade wasn’t really an agreement

China now says it wants to hold more talks this month to hammer out the details of the U.S.-China mini-deal announced by President Donald Trump on Friday before Chinese President  Xi Jinping will sign it, both Bloomberg and the Washington Post are reporting today. China said it may send a delegation led by Vice Premier Liu […]

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Not surprisingly U.S.-China trade war rhetoric heats up ahead of renewal of talks

Today the Trump administration put eight of China's technology giants on a blacklist over alleged human rights violations against Muslim minorities. And China signaled that it would retaliate over the blacklist. Foreign ministry spokesman Geng Shuang told reporters “Stay tuned.” The companies on the blacklist include two video surveillance companies-- Hangzhou Hikvision Digital Technology and Zhejiang Dahua […]

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Today’s stock gains look like a traders’ bounce rather than a shift in sentiment

Yes, U.S. stocks were up today with the S&P 500 closing higher by 1.10% and the Dow Jones Industrial Average by 1.11%. But that still left the stock market down for the week. And looking at the performance today of risk havens, today's move looks to be a bounce after a really negative week created […]

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Growth worries about U.S. economy mount today ahead of critical Friday jobs report

In a different environment, the disappointing jobs numbers from the private ADP employment survey and the weak quarterly sales reports from Ford and General Motors would not have taken the Standard & Poor's 500 down 1.79% and the Dow Jones Industrials lower by 1.86% today. But this news came in a context of worries about […]

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Stocks slide, bonds rally on pessimism of a thousand cuts

Stocks were down this morning with the Standard & Poor's 500 falling 1.01% as of 1 p.m. New York time and bonds were up with Treasury prices climbing to send the yield on the 10-year Treasury down 8 basis points to 1.64%. The move down wasn't the result of a single big negative headline but […]

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Markets settle at default reading

Some days U.S. stocks move decidedly higher on positive news about the global economy or speculation that the U.S-China trade war may be moving toward a negotiated resolution. Other days U.S. stocks head decidedly lower on bad news about the global (or U.S.) economy and speculation that the United States and China aren't going to […]

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Barrick Gold at the junction of positive macro and micro trends; raising my target price

It's by no means a guarantee of gains, but owing shares of a company that is riding the wave of positive macro and micro trends does indeed usually result in solid profits. On the macro side, Barrick Gold has global trends pointing toward toward higher gold prices as on lower interest rates as central banks […]

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Markets try to have it both ways in the morning and then throw in the towel on risk

This morning you could hear the gears whirring as Wall Street strategists tried to position their portfolios so they were hedged against U.S-China trade war risk but also positioned to catch any bounce on good news on the trade front and ahead of the September 18 Federal Reserve meeting. That produced an odd market structure […]

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