Higher Metal Prices Helped Asia Start to the Upside

Tokyo, Nov 23 (TradersHuddle.com) – Asian stocks started trading on Monday, moving to the upside as higher metal prices boosted mining companies. Gold started trading in the shortened holiday week in the U.S., moving higher for the seventh straight session, as the Dollar fell against the euro on speculation that the Fed will keep stimulus … Continue reading “Higher Metal Prices Helped Asia Start to the Upside”

Energy Shares Fell 2.1%

New York, Nov 19 (TradersHuddle.com) – Commodity-related stocks took a hit as the Dollar rose against both the yen and euro. Shares of energy producers and Dow components Exxon Mobil (NYSE:XOM) and Chevron (NYSE:CVX) were undermined, as oil fell for the first time in four days. The energy sector fell 2.1% as a group, the … Continue reading “Energy Shares Fell 2.1%”

The Gold Bubble Continues to Inflate

New York, Nov 18 (TraderHuddle) – The price of Gold continues to make record highs and this morning gold came very close to breaking $1,150, by reaching an intraday high of $1,149. The Spider Gold Trust (NYSE:GLD), which is the instrument that the majority of investors use to get exposure to gold in their portfolios … Continue reading “The Gold Bubble Continues to Inflate”

Financials a Drag

Even as the S&P 500 (NYSE:SPY) hit new highs and managed to eke a gain today, financials continue to be a drag. The sector (NYSE:XLF) continues to trade in a very tight range as it deals with its 50 day moving average. Goldman Sachs (NYSE:GS), the bellwether of the sector is still trading just below … Continue reading “Financials a Drag”

Feds Shutdown 3 More Banks

Washington, Nov 14 (TradersHuddle.com) – Federal banking regulators shut down two more banks in Florida and one in California on Friday. With these seizures the number of U.S. bank failures reached 123. The Federal Deposit Insurance Corp. (FDIC) took over Orion Bank, based in Naples, Fla., with about $2.7 billion in assets and $2.1 billion … Continue reading “Feds Shutdown 3 More Banks”

Trade Deficit Jumps the Most in a Decade

Washington, Nov. 13 (TradersHuddle.com) – The U.S. Commerce Department reported that September’s trade deficit increased the most in a decade, due to higher oil and imported automobiles demand. The higher demand came after the economy rebounded from the worst recession in decades. The deficit grew a larger-than-anticipated 18% to $36.5 billion, the highest level since … Continue reading “Trade Deficit Jumps the Most in a Decade”

Initial Unemployment Claims Fell to 10-Month Low

New York, Nov 12 (TradersHuddle.com) – Initial jobless claims fell more than expected to a 10 month low, signaling a stabilizing labor market. According to the Labor Department, Initial unemployment claims fell by 12,000 to 502,000 in the week ended Nov. 7, the lowest level since January. The number of people receiving jobless benefits dropped, … Continue reading “Initial Unemployment Claims Fell to 10-Month Low”

Intraday Dollar Reversal Dampens Bulls Spirits

New York, Nov 11 (TradersHuddle.com) – The US Dollar Index (.DXY) reversed after dipping below the 75 level in the early trading session. The inverse correlation between the market and the greenback is evident as the S&P 500 reversed after breaking resistance above 1,100 making this a failed breakout. The inverse correlation between the market … Continue reading “Intraday Dollar Reversal Dampens Bulls Spirits”

Dollar Sliding to a new 15 Month Low

New York, Nov 11 (TradersHuddle.com) – The US Dollar Index (.DXY) was under pressure once again, as it dipped below its floor at 75, which has been set as the last line in the sand for the Dollar Bulls. With the move below 75, the greenback is accentuating its downtrend that started last March, and … Continue reading “Dollar Sliding to a new 15 Month Low”

China’s Industrial Output and Retail Sales Accelerate

New York, Nov 10 (TradersHuddle.com) – The latest economic news out of China, showed that industrial production and retail sales accelerated during the month of October. The numbers increased confidence in forecasts for economic growth to exceed 10 percent this quarter for the first time in more than a year. The government reported that production … Continue reading “China’s Industrial Output and Retail Sales Accelerate”