Pages

Friday, December 9, 2016

Gold Slump Again, On Worst Losing Streak in 2016

gold prices, swiss gold



Gold prices slumped on Friday and it is on its way to a 5th straight weekly decline. As it get hit from all directions. The gold prices are being pulled down by a stronger U.S. dollar and expectations of a Federal Reserve rate hike next week. U.S. equities are also at record levels luring money out of the safe haven and fund holdings wither. The S&P 500 and the Dow Jones Industrial Average are at all-time highs amid speculation President-elect Donald Trump’s policies will spur growth. Investors are also assessing the European Central Bank’s decision on Thursday to tweak its bond buying.

Spot gold was down 0.3% at $1,167.11 an ounce by 0245 GMT, and was set for a weekly decline of about 0.8%. U.S. gold futures lost 0.2% to $1,169.60 per ounce. The dollar held large gains against the yen and euro early on Friday.

The number of Americans filing for unemployment benefits fell from a five-month high last week, pointing to labour strength that underscores the economy's sustained momentum and reinforcing the case for a Federal Reserve rate increase.

Rising bond yields and a flight to stock markets have also dampened the appeal of gold.

Meanwhile, Asian shares edged down on Friday but were on track for robust weekly gains, while the euro became more settled after the volatility seen in the wake of the European Central Bank's decision to trim the size of its asset purchase program while also extending it for longer than many analysts had expected.

Holdings of the SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, fell 0.34% to 860.71 tonnes on Thursday. SPDR holdings have fallen nearly 9% since November and are on track for a 5th straight week of losses.

Elsewhere, silver was down 0.4% at $16.94 an ounce and platinum fell 0.9% at $930.10.

Palladium was down by 0.2% to $734, after reaching its lowest since November 18 in the previous session.



Tuesday, November 29, 2016

Cyber Monday Expected to Reach $3.39 billion in Online Sales

Holiday Gift Guide 2016, Cyber Monday 2016, Amazon, shopping, sale

Onlines sales on Black Friday was the country's biggest yet though it didn't last very long just three days. However, retailers are expected to keep hearing the Ka-Ching of the cash registers as Cyber Monday is expected to garner $3.39 billion in online sales, this according to the latest statistics from Adobe, edging out Black Friday by roughly $50 million.

According to Becky Tasker, analyst for the Adobe Digital Insights, online retailers began giving away discounts later this year, on Thanksgiving morning instead of a few days earlier which have resulted to big demands on Black Friday. That fact shows that both retailers and consumers are getting more comfortable having holiday shopping take place later in the season, Tasker said, as online shipping improves and "buy online, pickup in-store" options grow.

"Everything is growing, but there's more growth toward the end of the season as people take advantage of better shipping to get their products on time," she said.

This data keeps is in line with the trend of online sales spreading out to more days during the holidays, as consumers spend more money online and are able to shop using a wide range of products that includes TV sets, toys, appliances, PCs, tablets and smartphones. Overall, Adobe expects 53 consecutive days of $1 billion-plus online sales days this holiday season, up from just 31 consecutive days last year.

She said that top toys that will be on demand this Cyber Monday includes Lego sets, Shopkins, Nerf, Barbie and Little Live Pets, and the 5 best-selling electronics were Sony PlayStation 4, Microsoft Xbox, Samsung 4K TVs, Apple iPads and Amazon Fire.

On Amazon, their Echo Dot smart speaker was the best-selling product on Thanksgiving, and Black Friday.




Saturday, November 12, 2016

It Seems Investors Like Trump Presidency U.S. stocks are Up Friday

business, finance, economy


U.S. stocks closed mostly on a higher note on Friday as a postelection rally lost some steam. Losers includes Energy, health care and materials companies while Consumer goods, technology and financials stocks closed on gains. The S&P 500 index still had its best weekly gain in two years.

The Dow Jones industrial average climbed 39.78 points, or 0.2%, to 18,847.66. Last Thursday it hit a new all-time intraday of 18,873.6, and closed more than 200 points higher, with IBM and Goldman Sachs contributing the most gains to the tune of 34 points and 52 points, respectively.  The Standard & Poor's 500 index fell 3.03 points, or 0.1%, to 2,164.45 still it's up 79.27 points, or 3.8% for the week.

The Nasdaq composite rose 28.32 points, or 0.5%, to 5,237.11.


Monday, October 17, 2016

Happy Halloween 2016


Happy Halloween 2016, halloween, night, Happy halloween Images, Halloween 2016,   halloween Pictures
Wishing each one of you a very happy and joyful Halloween.
Enjoy the party with your friends and family...

Happy Halloween!




Tuesday, October 4, 2016

Asian shares rise led by Tokyo, dollar firms after upbeat U.S. data

finance, business, world


Asian stock markets closed mostly higher Tuesday, with Japanese markets leading the way as solid U.S. manufacturing data helped bolstered the U.S. dollar and weaken the yen.

The Nikkei Stock Average NIK, +0.83%  was up 0.8%, Korea’s Kospi SEU, +0.55%  was up by 0.4% and Singapore’s FTSE Straits Times Index added 0.2%. Chinese markets are shut for the week. Hong Kong’s Hang Seng Index HSI, +0.28%  , however, reversed early gains and end up flat.

The U.S. September purchasing managers’ index which is a key measure of factory activity—jumped to 51.5, shifting back into expansionary territory, following a surprise dip to 49.4 in August. The dollar index, which tracks the greenback against a basket of 6 major currencies, added 0.3% to 95.970 .DXY.

However, the up trend is unlikely to happen in Europe, where German markets will reopen after a holiday to rekindled fears about the stability of the country's largest lender.

U.S. stocks slumped overnight, with Deutsche Bank (DB.N) shares resuming their slide as hopes faded that the bank would reach a swift deal with the U.S. Department of Justice over a fine of up to $14 billion for mis-selling mortgage-backed securities.

Australian shares closed at 0.1% higher after Australia's central bank kept its cash rate steady at 1.5% on Tuesday, a widely expected decision as it assesses the impact of its May and August rate cuts.

Thursday, September 22, 2016

US Dollar is down; Nasdaq hits new high

US Dollar, finance, economy, stocks, wall st.


The U.S. dollar retreats Thursday amid investors doubt that the Federal Reserve will raise interest rates this year. In the WSJ Dollar Index (US$ vs 16 other currency) was down by 0.1% to 86.297. The dollar went down against the euro, British pound and some emerging-market currencies but was higher against the Japanese yen.

Last Wednesday, the Federal Reserve left interest rates unchanged but signaled it could tighten policy in the months ahead. Still, investors remain doubtful that rates will go up this year. According to Fed officials they want to raise short-term borrowing costs but have been repeatedly stymied by turmoil in global markets and a string of soft data, from U.S. economic growth to productivity. Even though reports about the U.S. economy is in good shape and unemployment rate is falling.

The central bank also has acknowledged that rates are likely to remain lower in the future as economic growth slows, which analysts see as a negative for the dollar.

The biggest question is why there are reports that the economy is doing great and umployment rate is improving but when it comes to the Feds the sky is falling? Maybe Donald Trump is right about the Federal Reserve, doing what President Barack Obama wants by keeping interest rates low.

U.S. stocks extend gains as Nasdaq rallies to record high

U.S. stocks climbed for a third session Thursday as the Nasdaq finished at a record-high close following the Federal Reserve’s decision to keep the interest rates low. The S&P 500 rose 14 points, or 0.6%, to end at 2,177 while the Dow Jones Industrial Average added 98 points, or 0.5%, to finish at 18,391. The tech-heavy Nasdaq Composite Index advanced 44 points, or 0.8%, to close at 5,339 after touching an intra-day record of 5,342.88. The Fed on Wednesday kept rates unchanged even as Chairwoman Janet Yellen hinted that a tighter monetary policy is likely by the year end.

- U.S. jobless claims drop to two-month low
- Amazon.com hits all-time high on analyst report
- Indexes up: Dow 0.54 pct, S&P 0.65 pct, Nasdaq 0.84 pct (Updates with close of U.S. markets)



Tuesday, September 13, 2016

U.S. household income up by 5.2% in 2015 but still poorer than it was 15 years ago

economy, business, jobs

The Middle-class Americans and the poor American families have experience their first gain in eight years. The Census Bureau reported Tuesday, that the median household income rose 5.2% from a year earlier, after adjusting for inflation, or $2,800, to $56,500. The rise broke a long streak of disappointment for American workers but did not fully repair the damage inflicted by the Great Recession. The household incomes now is around 1.6% below the 2007 level, before the last recession began, and around 2.4% below the all-time high reached in 1999.

Officials at the Census Bureau said that the 5.2% growth rate was not statistically distinguishable from five other previous increases in the data over a 50-year period, most recently the 3.7 percent jump from 1997 to 1998.

There are some statistics that suggested that the year 2015 was strong for US workers. Just last week, the Agriculture Department reported their yearly data on hunger in the United States. It shows that food insecurity declined substantially last year for the first time since the recession.

Economic growth has lagged in 2016, but the labor market has remained strong, suggesting continued income gains. The unemployment rate declined to 4.9% last month. Adjusted for inflation, wages for full-time workers were up by nearly 2% in the first half of the year, compared with the same point in 2015.

The University of Michigan’s consumer sentiment index is down from last year.