Thursday, July 29

gold

Bitcoin, David Tice, FAANG, gold, inflation, Markets, MI Exclusive, monetary policy, Morand-Tice Capital Management, Stimulus, Stock market bubble, Stocks

Veteran investor David Tice sounds the alarm on’big tech’ stocks and bitcoin-and touts gold and silver miners as better bets

David Tice. CNBC David Tice is bearish on "big tech" stocks and bitcoin as they look expensive to him. The veteran fund manager advised investors to exercise caution in a high-risk market. Tice is bullish on gold and silver miners due to inflation and currency-depreciation fears. See more stories on Insider's business page. "Big tech" stocks and bitcoin are too expensive, while gold and silver are cheap and effective hedges against inflation and a weaker dollar, veteran investor David Tice said in a recent CNBC interview."We have come back a long way from the April lows of 2020 after the COVID-19 scare," the cofounder of Moran Tice Capital Management said. "However, we're not out of the woods yet and this is a dangerous market. "Tice's concerns include the stock market appearing ...
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Dow falls 500 points as fears grow over spread of COVID-19 Delta variant

JOHANNES EISELE/AFP via Getty Images US stocks fell Monday as investors eye a spike in global COVID-19 cases led by the Delta variant, creating a roadblock to a full recovery of the economy. The Dow Jones Industrial Average fell over 500 points at the open. The yield on the 10-year Treasury note was 1.217%, down 8.2 basis points on the day, reflecting the pickup in investor desire for safe-haven assets.The rising cases, which may result in a new wave of lockdown restrictions, weighed on markets. The Delta variant, according to health experts, is the most transmissible variant yet. "The market appears ready to take on a more defensive character as we experience a meaningful deceleration in earnings and economic growth," Morgan Stanley strategists led by Michael Wilson said ...
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US stocks trade mixed as Powell reiterates in testimony that inflation will pass

A trader blows bubble gum during the opening bell at the New York Stock Exchange (NYSE) on August 1, 2019, in New York City. Johannes Eisele/AFP via Getty Images US stocks rallied on Wednesday after Federal Reserve Chairman Jerome Powell reiterated that inflation will pass.The benchmark S&P 500 index scaled close to all-time highs, while the Dow Jones Industrial Average also inched up. The Nasdaq composite fell slightly. The yield on the US 10-year Treasury slipped 6.1 basis points to 1.353%.The Fed chief said the US economic recovery still has further to go before the central bank considers tapering its asset purchases, according to prepared remarks ahead of his House Financial Services Committee testimony. Powell said the US job market "is still a ways off" from the prog...
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US stocks rise as Fed Chair Powell says the US economic recovery still has further to run before tapering

Deutsche Bank said retail investors have been key players in the stock market rally Johannes Eisele/Getty Images US stocks rose Wednesday on comments from Fed chief Jerome Powell that the US recovery still has further to go before the central bank changes course. Bank earnings continued, with Bank of America and Citigroup reporting second-quarter results. Bitcoin and oil slipped, while gold prices rose. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. US stocks moved higher on Tuesday after Federal Reserve Chairman Jerome Powell said the US economic recovery still has further to go before the central bank considers tapering its asset purchases.Powell said the US job market "is still a ways off" from the progress the Fed hopes to achieve, suggesting it w...
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Global shares rally slows down as investors await US private-sector jobs data; gold tumbles while oil regains strength

JOHANNES EISELE/AFP via Getty Images Global shares stalled on Wednesday, hovering near record-highs, as caution set in ahead of a key read of US private-sector employment and as a surge in cases of Covid-19 in Asia in particular dented some investor confidence.US stock futures eased, after the benchmark indices hit all-time highs the previous day. Dow Jones futures declined by 0.28%, S&P 500 futures were down 0.15% and Nasdaq futures dipped 0.4% at 4:24 am ET. Economists widely expect the private-sector ADP jobs report to show 600,000 workers were added to payrolls in June, versus May's 978,000.US private-sector jobs data is often used as an indication for how weak or strong the broader US non-farms payroll data-due to be released on Friday-will be. Jobs data has been a key measu...
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S&P 500, Nasdaq close at record highs as mega-cap tech spurs gains

The Charging Bull or Wall Street Bull is pictured in the Manhattan borough of New York City Reuters US stocks traded near record highs Monday spurred by tech shares The yield on the US 10-year Treasury note was trading at 1.482%. Bitcoin rose while oil and gold slipped. US stocks closed mostly higher on Monday, with the S&P 500 and Nasdaq both hitting record highs on the back of gains in mega-cap technology stocks. Tech companies such as Apple, Amazon, Facebook, and Zoom outperformed. A judge on Monday dismissed antitrust lawsuits by the Federal Trade Commission that were seeking to brand the social media giant as an unlawful monopoly.Later this week, investors will turn their attention to US non-farm payroll data on Friday. This will give an indication of how consistently the ec...
Commodities, gold, gold prices, Investing, Mining, S&P/TSX composite index

Gold’s rise drives TSX in a new direction — straight back to its mining roots

Article content continuedMore On This TopicThe S&P/TSX Materials Index, home to more than 30 Canada-based precious metals miners, has surged 32 per cent this year — making it the second-best performing sector in Canada — on strong gold and silver prices. The rise has happened because of a weakening US dollar, plunging real rates and geopolitical tensions, all of which have motivated investors to seek shelter in precious metals.One concern for index investors is: What happens when risk appetite comes back with a vengeance?"There is a risk that all of a sudden gold goes down on a continuous basis. The index is designed so that you could actually take some of them out again," Thackray said."If gold producers aren't doing well and you take them out, then the index is actually doing its job....
Commodities, gold, gold prices, Mining

Gold may be the’king of bling’, but is it overbought? As prices surge, so do costs for miners

Article content continuedIndeed, the rule of thumb in the industry was that reserves have been modelled on the trailing three-year average of gold prices, which would be somewhere between US$1,300 and US$1,400.But already, many executives say they are planning to increase their assumed gold price at the end of the year to US$1,500 — which breaks from standard practice in recent years, but is still conservatively below the actual gold price of around US$1,927 as of Monday .Paul Harbridge, chief executive of GT Gold Corp., an explorer which is still in the early stages of defining a copper-gold deposit in British Columbia, said US$1,500 looks like it may become the new norm for the industry.Harbridge said the industry is treading cautiously: No one wants to use too high of an assumed gold...