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Investing.com-- Gold prices rose in Asian trade on Wednesday, reaching a near seven-month high as a string of dovish signals from Federal Reserve officials ramped up bets on an early pivot by the central bank. A drop in the dollar- to near four-month lows, benefited the yellow metal, as did retreating U.S. Treasury yields. The 10-year rate fell to a two-month low in Asian trade. Caution before a string of key economic readings this week- from the U.S. and China- also kept safe haven demand for gold upbeat, especially as a several weak readings from Japan and the euro zone fed concerns over a global economic slowdown. Spot gold rose 0.1% to $2,044.08 an ounce, while gold futures expiring in December rose 0.2% to $2,044.20 an ounce by 23:27 ET (04:37 GMT). Spot prices were now about $30 away from a record high touched earlier this year. Gold underpinned by Fed pivot bets, set for bumper November Fed officials said in separate overnight comments that the bank needed to be more cautious in keeping rates higher for longer, and that easing inflation may spur the bank into loosening policy earlier than expected. Fed Governor and noted hawk Christopher Waller said that high rates had quashed inflation sufficiently this year, and that a further decline in price pressures will likely see the bank begin cutting interest rates. His comments saw traders pricing in an at least 40% chance that the Fed will cut rates by as soon as March 2024, and that the central bank will keep rates on hold in December. Waller and other Fed officials have just this week to offer more cues on monetary policy, before the blackout period ahead of the Fed’s mid-December meeting. Chairman Jerome Powell is also set to speak later this week. The prospect of a shift in the Fed’s hawkish stance spurred strong gains in gold through November, with the yellow metal now set to add over 3% for the month. Any potential rate cuts by the Fed are likely to benefit gold markets, given that higher rates push up the opportunity cost of investing in the yellow metal. Tony Sycamore, analyst at IG Markets called the trend a “perfect environment for gold” in an interview with Ausbiz. Copper upbeat as supply disruptions help ease China jitters Among industrial metals, copper prices were flat on Wednesday as supply disruptions in Peru and Panama helped ease uncertainty before key Chinese economic data this week. Copper futures expiring in March were flat at $3.8460 a pound after rallying 1.5% so far this week. Weakness in the dollar also aided copper prices. A copper mine operated by Canadian miner First Quantum (NASDAQ:QMCO) was ordered to shut down by the Panama government on the grounds that its contract was unconstitutional. This also coincided with a planned strike at MMG Ltd’s Las Bambas copper mine in Peru. The output disruptions pointed to tighter copper markets in the coming months- a trend that could support prices of the red metal. But markets remained largely on edge before key purchasing managers index data from China, which is expected to show a continued decline in manufacturing activity in the world’s largest copper importer.
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Investing.com-- Gold prices steadied in Asian trade on Wednesday after briefly touching key highs as the prospect of no more rate hikes by the Federal Reserve spurred continued flows into the yellow metal. But a rally in gold prices now appeared to have cooled, as the minutes of the Fed’s late-October meeting, released on Tuesday, showed the bank sticking to its higher-for-longer outlook on interest rates. While markets remained convinced that the Fed will raise rates no further, the Fed minutes spurred some doubts over when the central bank will begin trimming rates. CME Group’s Fedwatch tool showed traders reconsidering expectations of a March 2024 rate cut. Spot gold was flat at $1,999.39 an ounce, while gold futures expiring in December steadied at $2,000.65 an ounce by 00:21 ET (05:21 GMT). Futures had risen as high as $2,009.80 an ounce on Tuesday, before cutting some gains after the Fed minutes. Fed rate cut outlook uncertain as minutes reiterate higher-for-longer outlook Gold saw a series of strong gains in recent sessions, as weak U.S. labor and inflation data spurred increased bets that the Fed was done raising interest rates. But the outlook for the yellow metal remained uncertain, especially given that the Fed likely plans to keep rates higher for longer. The central bank has signaled that rates will remain above 5% until at least end-2024. The prospect of higher-for-longer rates bodes poorly for gold, given that rising rates push up the opportunity cost of investing in the yellow metal. This notion had battered gold over the past year, as the Fed embarked on one of its most aggressive rate hike cycles. Higher rates are also expected to keep gold gains limited in the coming months, or at least until the Fed signals a clear plan to begin loosening policy. The dollar paused a recent losing streak on Wednesday, and recovered slightly from near three-month lows, which also pressured gold prices. Still, the yellow metal was trading up nearly 10% so far in 2023, aided by some safe haven demand as global economic conditions worsened. Copper dips from two-month high, more China, supply cues awaited Among industrial metals, copper prices fell from two-month highs on Wednesday as traders awaited more economic cues from top importer China. Copper futures fell 0.4% to $3.7897 a pound. While media reports said that Beijing was planning to roll out more stimulus measures, particularly for the property sector, traders were now awaiting actual moves from the Chinese government. Traders were also watching for any more disruptions in global copper supply, following major mine closures in Peru and Panama, which are expected to tighten markets in the coming months.
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Investing.com-- Gold prices fell slightly on Friday and were set for steep weekly losses after a string of hawkish comments from Federal Reserve officials saw markets rethink bets for a pause in more interest rate hikes. Diminishing safe haven demand, in the face of waning concerns over the Israel-Hamas war, also kept appetite for gold largely muted. After a 10% jump in October, gold prices were hit with a heavy degree of profit taking in early-November, pulling the yellow metal to over three-week lows this week. But prices still remained around the mid-$1900 mark. Spot gold fell 0.1% to $1,957.01 an ounce, while gold futures expiring in December fell 0.4% to $1,961.90 an ounce by 00:11 ET (05:11 GMT). Both instruments were set to lose about 2% this week- their worst week since late-September. Still, gold prices had seen some gains on Thursday after a disappointing Treasury auction spurred more selling in government bonds, with some traders pivoting into gold. But a corresponding spike in Treasury yields kept any gains in gold limited. Hawkish Powell pushes up dollar, yields The dollar rebounded from six-week lows this week, following a string of hawkish comments from Fed officials. Chair Jerome Powell warned on Thursday that the Fed remained unconvinced that monetary policy remained sufficiently restrictive, and also warned that sticky inflation could invite more rate hikes. His comments came on the heels of several similar comments from other Fed officials, which had chipped away at gold prices through the week. Expectations for an end to the Fed’s rate hike cycle rose substantially last week after traders interpreted Powell’s comments at a meeting as seemingly less hawkish. While a bulk of these bets still persisted, markets now grew less confident that the bank will trim rates by a wide margin in 2024. High interest rates bode poorly for gold, given that they push up the opportunity cost of investing in bullion. This trade has kept any major gains in gold limited, and with the Fed set to keep rates higher for longer, the near-term outlook for the yellow metal remained uncertain. Copper set for weekly losses as China sentiment worsens Among industrial metals, copper prices fell slightly on Friday, and were headed for their first weekly loss in three after a string of disappointing economic readings from China. Copper futures expiring in December fell 0.1% to $3.6303 a pound, and were set to lose 1.4% this week. China- the world’s biggest copper importer- slipped into disinflation territory for the second time this year, data showed on Thursday. This data was preceded by disappointing trade readings, which pointed to more headwinds for China’s biggest economic engines.
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Investing.com-- Gold prices moved little in Asian trade on Wednesday, but were nursing steep losses over the past two sessions as hawkish comments from Federal Reserve officials saw traders reconsider expectations for more interest rate hikes. This put an upcoming speech by Fed Chair Jerome Powell squarely in focus, after his comments at a meeting last week were seen as somewhat less hawkish by markets. Gold saw some gains in the past week after the Fed meeting and a softer-than-expected nonfarm payrolls reading pushed up hopes for an end to the central bank’s rate hike cycle. But several Fed officials downplayed expectations for a pause, citing the need for more hikes amid strength in the economy and sticky inflation. This dented the outlook for gold, given that higher rates diminish the opportunity cost of investing in the yellow metal. Spot gold fell 0.1% to $1,967.78 an ounce, while gold futures expiring in December were flat at $1,973.85 an ounce by 23:33 ET (04:33 GMT). Powell speech in focus as Fed officials downplay pause bets Powell is set to speak twice this week, once on Wednesday and once on Thursday. Any more comments on the U.S. economy and monetary policy will be squarely in focus, especially following a softer-than-expected nonfarm payrolls reading for October. But before Powell, several Fed officials, including Governor Michelle Bowman, Minneapolis Fed President Neel Kashkari and Chicago Fed President Austan Goolsbee noted that inflation still remained too high, and that rates could potentially rise further in the coming months. Even if the Fed pauses, it is only expected to begin trimming rates by mid-2024, limiting any major near-term gains in gold. The central bank signaled that U.S. rates will remain higher for longer- likely remaining above 5% until end-2024. This scenario bodes poorly for the yellow metal in the near-term. Gold also saw receding safe haven demand amid easing market concerns over the Israel-Hamas conflict. Copper creeps lower amid China concerns Among industrial metals, copper prices fell slightly on Wednesday, extending recent losses after weak Chinese economic data raised more concerns over the world’s largest copper importer. Copper futures expiring in December fell 0.1% to $3.6822 a pound. After Chinese trade data largely disappointed markets on Tuesday, focus is now on inflation readings from the country, due Thursday, for any signs of a pick-up in spending. Copper investors took some relief from reports that Chinese regulators had met with several major property developers in the country to gauge their financial conditions, potentially heralding more policy support for the sector.
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A family of four probably cost $50 easily at McDs with fries and a drink
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The US Government sold its people out with ratifying the Nafta Agreement it allow nay encouraged our large manufacturing companies to close down in the US and move to China or other low cost labor countries. The Feds are to narrow sighted not to see that if you cut the throats of those who will be buying these high priced items then the market will drop and our GDP will plummet as we cannot have high exports when the USA does not make a lot of what it used to. IMHO
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I'm down 91 on my WMT Nov 165/170 Bull Call. The reason I went with 170 was simply to reduce the cost.
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It looks like WMT crashed on you guys to. I did a spread for half the cost or so.
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Investing.com-- Gold prices fell in Asian trade on Tuesday, facing consistent pressure from a stronger dollar and higher Treasury yields as Federal Reserve officials reiterated the bank’s outlook for higher interest rates. Minneapolis Fed President Neel Kashkari said in an address on late-Monday that he saw rates rising at least once more in 2023, and that they were likely to remain higher through 2024. His comments echoed those made by Fed Chair Jerome Powell last week, who said that sticky inflation and a tight labor market will likely elicit one more rate hike this year. Powell also downplayed expectations for a large band of rate cuts next year, with the Fed’s target rate set to remain above 5% through 2024. The outlook for higher rates dented gold’s prospects, given that higher yields push up the opportunity cost of investing in the non-yielding asset. This weighed particularly on the outlook for prices, with gold futures losing more than the spot price in recent sessions. Spot gold fell 0.1% to $1,913.62 an ounce, while gold futures expiring in December fell 0.2% to $1,932.25 an ounce by 00:02 ET (04:02 GMT). Both instruments were at a 11-day low. Dollar at 10-mth peak, yields hit 16-year high with shutdown in focus Pressure on metal markets came chiefly from a stronger greenback, as the Fed’s hawkish rhetoric pushed the dollar to its highest level in 10 months against a basket of currencies. Treasury yields also surged in the wake of the Fed’s meeting last week, with the benchmark 10-year rate at its highest since 2007. Growing fears of a U.S. government shutdown did little to deter the dollar’s advance, with higher rates also increasing the greenback’s safe haven appeal over gold. Congress has less than a week to pass a spending bill and avert a shutdown. But both Republican and Democrat leaders indicated little progress was being made towards reaching consensus. While gold is a safe haven, it has seen little actual gains during past government shutdowns. The 2018-2019 shutdown, which was the longest in U.S. history at 35 days, only saw a $20 appreciation in spot prices. Copper prices dip, China jitters persist Among industrial metals, copper prices extended losses on Tuesday amid persistent concerns over an economic slowdown in China, the world’s largest copper importer. Sentiment towards the country was dealt a fresh blow this week as beleaguered property developer China Evergrande Group (HK:3333) said it will be unable to issue new debt due to a government investigation. This ramped up concerns over more regulatory scrutiny towards the sector, which is already struggling with a three year-long cash crunch. The property sector is also a key driver of copper demand. Copper futures fell 0.1% to $3.702 a pound, and were close to 1-½ month lows. Focus this week is now on purchasing managers’ index data from China for more cues on business activity.
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cRusty: question on those short term low cost position what strategy do you employ?
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Never mind, see that they are all low cost options
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When I moved to CA from MA after college in '77, I found a union job that paid $13.50 an hour. Overtime was double time and Sundays and Holidays were triple time. I was living in a two-bedroom apartment that cost $400 a month. Forty-five years later CA wants to increase the wage to $20.00 an hour for service workers and all the companies are pushing back. How did we get here? Sad state of affairs. I don't know if the UAW demands are fair or not but i do know corporations have been getting away with murder for far too long. Time for a change.
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Investing.com -- U.S. stocks were rising on hopes the Federal Reserve will leave rates unchanged when it meets this month, as investors anticipate nearing the end of its interest rate increases. At 9:34 ET (13:34 GMT), the Dow Jones Industrial Average was up 193 points or 0.6%, while the S&P 500 was up 0.7% and the NASDAQ Composite was up 0.9%. The three major Wall Street indices posted a losing week last week, with the blue-chip Dow Jones Industrial Average ending around 0.8 lower. The tech-heavy Nasdaq Composite dropped 1.9% and the broad-based S&P 500 fell 1.3%, their first negative week in three. Inflation data looms large Last week’s equity losses were largely caused by rising concerns that stronger than expected economic data will prompt the Federal Reserve to keep interest rates at elevated levels for longer than previously expected. With this in mind, the focus this week will be on the latest consumer price index and producer price index readings, on Wednesday and Thursday respectively, particularly given the higher energy cost pressures. The market is widely expecting the U.S. central bank to pause raising interest rates this month, but policymakers still do not appear to be ready to declare victory over inflation. "Another skip could be appropriate when we meet later this month," Dallas Fed President Lorie Logan said late on Thursday. "My base case, though, is that there is work left to do." Tech sector in spotlight The tech sector suffered last week as rising U.S. bond yields disproportionately impacted a number of the sector’s richly valued stocks. This week sees financial updates from Oracle (NYSE:ORCL) on Monday and Adobe (NASDAQ:ADBE) on Thursday, while Apple (NASDAQ:AAPL) is set to hold a product event on Tuesday, at which the world’s most valuable company is widely expected to unveil the iPhone 15. Additionally, Alibaba (NYSE:BABA) announced earlier Monday that the e-commerce giant’s former group CEO Daniel Zhang has resigned just two months after concentrating his focus on cloud computing, raising concern over the unit's spin-off plan. Alibaba shares slipped 0.5%. Tesla Inc (NASDAQ:TSLA) shares rose more than 5% after an upgrade from Morgan Stanley, which said the electric vehicle maker will benefit from its autonomous technology. Crude market awaits IEA, OPEC reports Oil prices edged lower Monday, easing from 10-month highs after a stellar rally in the wake of top producers Saudi Arabia and Russia extending their voluntary supply cuts to the end of the year. The International Energy Agency and the Organization of the Petroleum Exporting Countries are due to release their monthly reports this week. Investors will be looking for comments on likely demand growth given a swathe of recent data has shown that the important Chinese economy was cooling despite the lifting of anti-COVID restrictions earlier this year. (Peter Nurse and Oliver Gray contributed to this item.)
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$U Sep08 39 C $CNQ Oct 67.5 C $MU Sep08 71 C $COST Sep 08 555 $GM Oct 34 C $KVUE Sep 20 C $BMY Sep 63 C $INTC Sep 38.5 C $CLF Nov 17 C $GSK Nov 37/38 C $MARA Sep 14 C $KVUE Nov 22.5 $PLTR Nov 20 C $KHC Sep 15 C $CVNA Sep29 75 C $CGC Sep and Oct 1 C $KVUE Oct 20 P $KVUE Sep22 20 P $MARA Sep 10.5 p $C Sep 40 P $CHPT Sep 6 P $OXY Sep29 60 P $KVUE Oct 17.5 P $PLTR Oct 13 P
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nvesting.com -- U.S. stocks were mixed, with declines led by tech stocks, as investors continued to worry about elevated oil prices and rising interest rates. At 11:37 (15:37 GMT) the Dow Jones Industrial Average was up 66 points or 0.2%, while the S&P 500 was down 0.3% and the NASDAQ Compositewas down 1%. The major Wall Street indices closed lower on Wednesday, with the blue-chip Dow Jones Industrial Average ending almost 200 points, or 0.6%, lower, while the tech-heavy Nasdaq Composite dropped 1.1% and the broad-based S&P 500 fell 0.7%. Fed hike expectations rise Sentiment has been hit this week by concerns the recent stronger-than-expected economic data and rising oil prices will prompt the U.S. Federal Reserve to keep interest rates higher for longer. Data released Wednesday showed that the U.S. services sector – which makes up more than two-thirds of the American economy – unexpectedly accelerated in August, hitting a six-month high. Input costs paid by these businesses also rose. At the same time crude prices have risen to their highest level this year, stoking concerns about the cost of energy and its effect on inflation, again having an impact on inflation going forward. This has resulted in bond yields climbing, with investors factoring in a greater chance of the Fed raising interest rates once more by the end of the year. According to Investing.com's Fed Rate Monitor Tool, the probability that America's central bank will choose to raise rates at its November meeting now stands at 43.6%, up from 39.3% in the prior day. Jobless claims data due New jobless claims came in lower than expected at 216,000 last week. They had been expected to rise to 235,000 from 228,000 the prior week. The Fed has been closely watching the labor market for signs that the tight conditions are easing, something it wants to see to prove its inflation fighting efforts are working. There are also a number of Federal Reserve officials due to speak later Thursday at a fintech conference hosted by the Philly Fed, and their comments are bound to be studied for monetary policy clues ahead of entering the blackout period that precedes each policy meeting. GameStop post smaller-than-expected quarterly loss In corporate news, GameStop (NYSE:GME) exceeded estimates for quarterly revenue and posted a smaller-than-expected loss. But shares were down 1.2%. ChargePoint (NYSE:CHPT) stock slumped more than 16% after the owner of EV charging stations missed revenue expectations. Crude weakens on weak Chinese trade data Oil prices fell Thursday, edging back from 10-month peaks after the release of weak Chinese trade data overshadowed another draw in U.S. inventories, signaling tightening supplies. Data released late Wednesday by the industry body American Petroleum Institute showed U.S. crude inventories fell for a fourth straight week, dropping 5.5 million barrels in the week ending Sept. 1. The reading usually acts as a precursor to inventory data from the Energy Information Administration, which is due later in the day. (Peter Nurse and Oliver Gray contributed to this item.)
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which mean once interest rate start dipping, we can slowly see gold recover > @ttt_financial said: For me, gold is currently very dependent on the further development of interest rates and the USD. The higher the opportunity cost, the less attractive gold becomes and vice versa.
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Investing.com -- Gold prices rose slightly on Tuesday, taking some relief from a weaker dollar as the greenback retreated from two-month highs, although fears of higher U.S. interest rates still kept the outlook for metal markets muted. The yellow metal saw some signs of recovery after slumping to a five-month low earlier this month. Spot prices also lost the closely-watched $2,000 an ounce level, and were still struggling to break above. Spot gold rose 0.1% to $1,896.39 an ounce, while gold futures expiring in December rose 0.1% to $1,924.90 an ounce by 00:21 ET (04:21 GMT). Treasury yields surge ahead of Jackson Hole But while gold saw some relief on Tuesday, the outlook for the yellow metal was largely dampened by a spike in U.S. Treasury yields. 10-year yields surged to an over 20-year high this week as markets positioned for potentially higher-for-longer U.S. interest rates. Focus this week is squarely on an address by Federal Reserve Chair Jerome Powell at the Jackson Hole Symposium this Friday. The Fed Chair is expected to provide more cues on the path of monetary policy, with sticky inflation and a tight labor market potentially inviting a hawkish outlook from the central bank. Investment banks warned that Powell could flag a new era of higher baseline rates - a scenario that bodes poorly for metal markets. The prospect of rising U.S. rates battered gold in recent weeks, given that higher rates push up the opportunity cost of investing in non-yielding assets. Strength in the dollar also weighed, although the greenback fell slightly from a two-month high this week. This offered some relief to gold prices. Copper edges higher, China stimulus in focus Among industrial metals, copper prices also advanced slightly on Tuesday, benefiting from weakness in the dollar. Copper futures rose 0.2% to $3.7263 a pound. But prices of the red metal were also nursing steep losses over the past three weeks, amid growing impatience with more stimulus measures in China. The People’s Bank of China largely disappointed markets with its interest rest cut this week, drawing calls from investors for more targeted, fiscal measures to support a slowing economic recovery. China is the world’s largest copper importer, with an economic slowdown in the country this year having weighed heavily on copper prices and demand.
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On the other hand, gold has been relatively strong throughout this phase and on the long-term chart, many are eyeing the red resistance. > @ttt_financial said: For me, gold is currently very dependent on the further development of interest rates and the USD. The higher the opportunity cost, the less attractive gold becomes and vice versa.
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For me, gold is currently very dependent on the further development of interest rates and the USD. The higher the opportunity cost, the less attractive gold becomes and vice versa. > @jmesasf said: any view on xau/usd ?
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Investing.com -- Gold prices rose slightly on Friday, recovering from a five-month low as the dollar saw some profit taking, although concerns over higher U.S. interest rates kept metal markets under pressure. Prices were set for a fourth straight week of losses, as strong labor market data and hawkish signals from the Federal Reserve kept markets positioning for higher U.S. interest rates. Spot prices also lost the key $1,900 an ounce level this week, which could herald more near-term weakness for the yellow metal. Spot gold rose 0.2% to $1,893.05 an ounce, while gold futures expiring in December rose 0.4% to $1,922.15 an ounce by 00:00 ET (04:00 GMT). Both instruments were set to lose over 1% this week. Dollar dip offers some relief to gold, but outlook dim The dollar fell 0.3% in Asian trade amid some profit taking, after the greenback raced to over two-month highs against a basket of currencies. The dollar was also set for a 0.5% gain this week, as strong U.S. economic readings and hawkish signals from the minutes of the Fed’s July meeting pushed up bets that U.S. rates will remain higher for longer. While the Fed has flagged only one more hike this year, the prospect of higher-for-longer U.S. rates bodes poorly for gold markets, given that it pushes up the opportunity cost of holding non-yielding assets. This trade had battered gold through 2022, and has so far limited any major gains in the yellow metal this year. Anticipation of more monetary policy and economic cues from the Jackson Hole Symposium next week also kept positioning skewed largely towards the dollar, and kept investors wary of metal markets. Gold was also pressured by a spike in U.S. Treasury yields, with the 10-year rate surging to levels last seen during the 2008 financial crisis. Copper buoyed by China stimulus hopes, but weekly losses on tap Copper prices rose on Friday, taking some support from signals of more stimulus support in China. Copper futures rose 0.2% to $3.6932 a pound. But futures were still set to lose about 0.7% this week. Prices of the red metal rebounded from an over two-month low on Thursday, after China’s central bank vowed to release more liquidity to support a slowing economic recovery. The People’s Bank is now widely expected to cut its loan prime rates on Monday, as the world’s largest copper importer struggles with a slowing post-COVID economic recovery.
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Investing.com -- U.S. stocks are surging after data showed that U.S. annual inflation accelerated by less than expected in July. By 9:37 ET (13:37 GMT), the Dow Jones Industrial Average was up 309 points or 0.9%, while the S&P 500 was up 0.9% and the NASDAQ Composite was up 1%. Inflation rises more slowly than feared Annual U.S. inflation accelerated by less than expected in July, with the headline consumer price index holding steady at 0.2% month-on-month, meeting estimates. Yearly, the reading increased by 3.2%, quickening from 3.0% in June. Economists had expected the figure to jump by 3.3%. Meanwhile, core CPI, which strips out volatile items like food and energy, was also unchanged at 0.2% monthly. Year-on-year, the core figure rose by 4.7%, a slower rate than the projected uptick of 4.8%. While these figures suggest that inflation remains sticky, they also point to a possible easing in price pressures and potentially bolster the case for the Federal Reserve to pull back from its long-standing cycle of interest rate increases. The Federal Reserve next meets in September, and officials have said in recent days that they could be near a point where they could pause on further interest rate hikes. Positive Disney results boost sentiment This has added to the optimism generated by solid numbers from entertainment giant Walt Disney (NYSE:DIS). Walt Disney stock was up 1% boosting sentiment in the wider market, after the entertainment colossus announced plans to increase the prices of its streaming service and crack down on password sharing to help offset sputtering performance in its film and television divisions. The streaming unit, which includes options like Disney+ and Hulu, narrowed its losses by more than anticipated in its fiscal third quarter following a bump up in subscription prices and marketing cost cuts. Disney has also created a task force to study artificial intelligence and how it can be applied across the entertainment conglomerate, Reuters reported, citing three sources. The tech sector is likely to be in focus after U.S. President Joe Biden unveiled a ban on some investments into Chinese tech companies, opening up the possibility of retaliation. Crude drifts lower ahead of CPI release Oil prices edged lower Thursday in a bout of profit taking, but remained near multi-month highs ahead of key U.S. inflation release. U.S. crude inventories unexpectedly grew in the week of August 4, data from the Energy Information Administration showed Wednesday. However, there was also a much bigger-than-expected draw in gasoline and distillate stockpiles, suggesting U.S. fuel demand remained robust. Oil prices have been boosted in recent days by extensions to output cuts by Saudi Arabia and Russia, exacerbating supply tightness. Crude Oil futures were down 0.7% to $83.78 a barrel, while Brent was down 0.5% to $87.17 a barrel. Gold rose 0.3% to $1,956. (Peter Nurse and Oliver Gray contributed to this item.)
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I try with good stocks $50 or less to help keep option cost down.
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(Reuters) -WeWork warned of a possible bankruptcy in a stunning reversal of fortune for the shared workspace provider that four years ago was one of the world's most prized startups with a valuation of $47 billion. The SoftBank-backed company, valued at just $446.8 million as of last close, has been in turmoil ever since it filed its IPO paperwork in 2019 as investors pointed out governance issues involving its then founder-CEO Adam Neumann. The company went public in 2021 through a SPAC merger after abandoning its IPO plans, but the struggles continued as investors doubted its business model while clients moved to hybrid work since the pandemic. WeWork's business model involves taking long-term leases and renting out spaces for a short term. "Fewer and fewer companies from mature large-cap businesses to startups are willing to enter into long-term leases for geographically fixed spaces," Interim CEO David Tolley said in an investor call on Wednesday. The company said on Tuesday it may need to consider strategic options, including raising more money or obtaining relief under the U.S. Bankruptcy Code. In March, WeWork had reached a deal to cut debt by about $1.5 billion and extend the date of some maturities to preserve cash. The company is yet to turn a profit and has been cited as an example of over-inflated valuations commanded by Silicon Valley firms. "WeWork was perhaps the most overhyped startup of recent years," Steve Clayton, head of equity funds, Hargreaves Lansdown, said. The company has shuttered offices and cut jobs in a turnaround attempt but the departure of its CEO and CFO earlier this year complicated the efforts. The search for a new CEO is on, WeWork said on Tuesday. Its stock plunged 21.3% to 16 cents in early trade on Wednesday after it said three board members would step down. Cost cuts, however, helped it report a smaller net loss of $349 million in the second quarter from $577 million a year earlier. But it burnt $646 million in cash in the first six months of 2023 and had $205 million in hand as of June end. WeWork said it was planning to shore up liquidity by cutting rent and tenancy costs, controlling expenses and reducing member churn.
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By Jeffrey Dastin and Chavi Mehta (Reuters) -Amazon.com Inc on Thursday reported sales growth and profit that beat Wall Street's expectations as the company delivered goods faster and more cheaply to shoppers while recent cloud-computing headwinds began to subside. Amazon (NASDAQ:AMZN)'s shares surged 9% on the news, extending its stock market value more than $120 billion in after-hours trading. Facing an array of challenges, the company has aimed to keep its mantle as the world's biggest cloud provider and online retailer. Amazon recently answered AI front-runners Google and Microsoft (NASDAQ:MSFT) with rival services of its own, drawing thousands of customers and touting the breadth of technology it has on offer, similar to what is powering the human-like chatbot ChatGPT. In retail, Amazon has reorganized its fulfillment network and opened warehouses for same-day shipping closer to big metro areas, saving time and costs on delivery. Brian Olsavsky, Amazon's chief financial officer, said on a call with reporters that faster speeds have meant Prime loyalty customers are "shopping more often." For the second quarter, Amazon's revenue grew 11% to $134.4 billion, beating estimates of $131.5 billion from analysts polled by Refinitiv. Amazon's cloud-computing division has been key. In recent months, Amazon Web Services (AWS) saw its sales growth slow as wary businesses scrutinized their cloud bills. Olsavsky said such "cost optimization" continued, but big companies were embracing the cloud anew, a lift to the division this spring and summer. CEO Andy Jassy said in a statement, "Our AWS growth stabilized." The unit beat estimates of around $21.7 billion in second-quarter cloud sales, increasing them 12% to $22.1 billion. Its rivals posted bigger jumps off smaller bases: 28% growth in Alphabet (NASDAQ:GOOGL)'s June-quarter cloud revenue and a 26% quarterly increase for Microsoft's Azure. Arun Sundaram, an equity analyst at CFRA Research, said the results showed Amazon was holding its own, including in so-called generative AI that can create new text, images and other content from past data. "We can put any negative narrative to rest," Sundaram said, adding AI's potential "should benefit all the large tech companies." Jassy told analysts every business inside Amazon has multiple generative-AI initiatives underway, including customer-facing and cost-slimming efforts. He said AWS's spending on the technology represented a "significant" amount of the more than $50 billion in capital investments Amazon projected for 2023. Such investments, offset by lower fulfillment expenditures, are down from $59 billion in 2022. Still, the boost that Amazon's cloud could reap from powering businesses' AI demand has yet to materialize in full. Thomas Monteiro, an analyst at Investing.com said. "In Q3, it is likely that companies will have to start showing results on that front." In e-commerce, consumers have acted with some reserve for months, putting off discretionary purchases and shopping for value. CFO Olsavsky said household budgets remain tight, but headwinds from inflation were easing. Amazon is now expecting a bump from its biggest sales day ever as part of last month's marketing blitz for loyalty shoppers known as Prime Day. Monteiro said consumer sales were looking healthy in and outside Amazon for the back half of 2023. The company forecast current-quarter net sales in the range of $138 billion to $143 billion. Analysts polled by Refinitiv were expecting revenue of $138.25 billion. Longer-term, Amazon aims to turn one unit, its $35 billion in yearly gross business-to-business e-commerce sales, into $100 billion, Jassy told analysts. Amazon has sought cost cuts all, with 27,000 people affected by layoffs, or what had been 9% of its roughly 300,000-person staff. It recently revealed more reductions at Amazon Fresh stores while searching for months for the right grocery strategy. The company reported a quarterly profit of $6.7 billion, nearly double what analysts expected.
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By Aditi Shah, Aftab Ahmed and Aditya Kalra NEW DELHI (Reuters) -China's loss in India could be Elon Musk's gain. Tesla (NASDAQ:TSLA) has had a red-carpet welcome from India for its proposal to invest in the country, while its largest rival in electric vehicles, China's BYD, has been stopped cold by increased scrutiny from New Delhi. The result could be an opening for Tesla to negotiate terms for an entry to the world's third-largest auto market without the competitive threat from BYD that it faces in other emerging markets, like Thailand. "The future of who wins in India will have some bearing on who wins globally in the EV race," said Jasmeet Khurana of the World Economic Forum. Since a meeting between Musk and Indian Prime Minister Narendra Modi in June in New York, Tesla has fast-tracked closed-door discussions with Indian officials on a potential plant investment and plans to build a new low-cost $24,000 EV. Those talks continued over the past week with Tesla discussing minute details of its plans to gain access to India's fast-growing EV market, and Modi personally tracking developments, sources say. Those meetings, though, have been strictly kept under wraps, with officials putting out no photos on social media of handshakes with executives which otherwise is a usual affair after high-profile meetings. BYD, meanwhile, appears to be taking a backseat. Months after seeking clearance for its own $1 billion investment in India, BYD is no longer keen to pursue the approval, Reuters reported. In a further setback, BYD is facing an investigation over allegations that it underpaid import tax in India. Among other concerns, Indian officials are worried about the national security implications of Chinese-made vehicles and the data they could collect. India is "uncomfortable with Chinese automakers," an official said. While all investments from China have faced tightened approval requirements in India since a border clash between the two in 2020, there could be an outsized effect on the developing market for EVs in India because of China's dominance in battery materials, battery production and other technology. Tesla, too, has Chinese suppliers that have helped it slash production costs at its Shanghai factory and it now wants to bring them to India - where it appears to have an upper hand in talks with New Delhi. India has told Tesla it will allow its Chinese suppliers into the country if they forge partnerships with local firms, just like Apple (NASDAQ:AAPL) did. But at the same time, India is hesitant on BYD's $1-billion plan even though that too was proposed as a partnership with a domestic engineering firm. The Global Times, a Chinese state-run newspaper, said the reported pushback on BYD's investment plan "will lead to a chain reaction and deal a blow to the overall confidence of Chinese companies in investing India." BYD has not commented on its $1 billion India plan while Musk, after meeting Modi, said Tesla plans to make significant investments in the country. INDIA'S GROWING EV MARKET Tesla wants to sell 20 million cars globally by 2030, up from 1.31 million in 2022, but faces hurdles to expanding its Shanghai factory. BYD was the world's biggest seller of EVs and plug-in hybrids in 2022 with a total of 1.86 million units - the vast majority in China. It trails Tesla in terms of sales of fully electric cars. "Tesla sees competition mainly with BYD, and both are expanding globally at great speed," said Gaurav Vangaal of S&P Global (NYSE:SPGI) Mobility. "If they want volumes, they have to come to India," he said, adding that with the government incentivising companies to build EVs locally, India can also serve as an export base. Annual production of light electric vehicles in India is expected to rise to 1.4 million by 2030, close to 19% of total forecast production of 7.25 million, according to estimates by S&P Global Mobility. It was less than 50,000 in 2022. India's nascent EV market is dominated by local player Tata Motors (NYSE:TTM), whose best-selling Nexon EV sells for as high as $19,000 while Chinese carmaker MG Motor's ZS EV starts at $28,000 while BYD's Atto 3 retails at around $41,000 in India. Toyota Motor (NYSE:TM), Hyundai Motor and Kia all sell mid-sized gasoline SUVs priced at around $24,000, Tesla's identified entry point. Tesla does not currently sell vehicles in India. "Tesla has become a desirable product in name alone," said Sam Fiorani of AutoForecast Solutions. "Add to that an affordable product tailored for the Indian market and it has the potential to be a hit locally."
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By Davide Barbuscia (Reuters) - Rating agency Fitch on Tuesday downgraded the U.S. government's top credit rating, a move that drew an angry response from the White House and surprised investors, coming despite the resolution of the debt ceiling crisis two months ago. Traders' immediate response was to embark on a safe-haven push out of stocks and into government bonds and the dollar. Fitch downgraded the United States to AA+ from AAA, citing fiscal deterioration over the next three years and repeated down-the-wire debt ceiling negotiations that threaten the government’s ability to pay its bills. Fitch had first flagged the possibility of a downgrade in May, then maintained that position in June after the debt ceiling crisis was resolved, saying it intended to finalize the review in the third quarter of this year. With the downgrade, it becomes the second major rating agency after Standard & Poor’s to strip the United States of its triple-A rating. Fitch's move came two months after Democratic President Joe Biden and the Republican-controlled House of Representatives reached a debt ceiling agreement that lifted the government's $31.4 trillion borrowing limit, ending months of political brinkmanship. "In Fitch's view, there has been a steady deterioration in standards of governance over the last 20 years, including on fiscal and debt matters, notwithstanding the June bipartisan agreement to suspend the debt limit until January 2025," the rating agency said in a statement. U.S. Treasury Secretary Janet Yellen disagreed with Fitch's downgrade, in a statement that called it "arbitrary and based on outdated data." The White House had a similar view, saying it "strongly disagrees with this decision". "It defies reality to downgrade the United States at a moment when President Biden has delivered the strongest recovery of any major economy in the world," said White House press secretary Karine Jean-Pierre. REPUTATIONAL DENT Analysts said the move shows the depth of harm caused to the United States by repeated rounds of contentious debate over the debt ceiling, which pushed the nation to the brink of default in May. "This basically tells you the U.S. government’s spending is a problem," said Steven Ricchiuto, U.S. chief economist at Mizuho Securities USA. Fitch said repeated political standoffs and last-minute resolutions over the debt limit have eroded confidence in fiscal management. Michael Schulman, chief investment officer at Running Point Capital Advisors said the "U.S. overall will be seen as strong but I think it’s a little chink in our armor." "It is a dent against the U.S. reputation and standing," said Schulman. Others expressed surprise at the timing, even though Fitch had flagged the possibility. "I don't understand how they (Fitch) have worse information now than before the debt ceiling crisis was resolved," said Wendy Edelberg, director of The Hamilton Project At The Brookings Institution in Washington D.C. U.S. stock futures dropped in European trading, suggesting the benchmark indices could open sharply lower later on. The yield on the benchmark U.S. Treasury note fell 2 basis points on the day to 4.03%, while the cost of insuring U.S. sovereign debt against default held largely unchanged on the day, reflecting a sense of calm among investors about the longer-term impact of the downgrade. "I don't think you are going to see too many investors, especially those with a long-term investment strategy saying I should sell stocks because Fitch took us from AAA to AA+," said Jason Ware, chief investment officer at Albion Financial Group. Investors use credit ratings to assess the risk profile of companies and governments when they raise financing in debt capital markets. Generally, the lower a borrower's rating, the higher its financing costs. "This was unexpected, kind of came from left field," said Keith Lerner, co-chief investment officer at Truist Advisory Services in Atlanta. "As far as the market impact, it's uncertain right now. The market is at a point where it's somewhat vulnerable to bad news." LIMITED IMPACT In a previous debt ceiling crisis in 2011, Standard & Poor's cut the top "AAA" rating by one notch a few days after a debt ceiling deal, citing political polarization and insufficient steps to right the nation's fiscal outlook. Its rating is still "AA-plus" - its second highest. After that downgrade, U.S. stocks tumbled and the impact of the rating cut was felt across global stock markets, which were in the throes of the euro zone financial meltdown. In May, Fitch had placed its "AAA" rating of U.S. sovereign debt on watch for a possible downgrade, citing downside risks, including political brinkmanship and a growing debt burden. A Moody's (NYSE:MCO) Analytics report from May said a downgrade of Treasury debt would set off a cascade of credit implications and downgrades on the debt of many other institutions. Other analysts had pointed to risks that another downgrade by a major rating agency could affect investment portfolios that hold top-rated securities. Raymond James analyst Ed Mills, however, said on Tuesday he did not anticipate markets to react significantly to the news. "My understanding has been that after the S&P downgrade a lot of these contracts were reworked to say 'triple-A' or 'government-guaranteed', and so the government guarantee is more important than the Fitch rating," he said. Others echoed that view. "Overall, this announcement is much more likely to be dismissed than have a lasting disruptive impact on the U.S. economy and markets," Mohamed El-Erian, President at Queens' College, said in a LinkedIn post.
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That's why I put my Day Trades out to Aug 11th. That way they can become swing trades whereby I usually get my Cost back.
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more options expire worthless than in the money. Lot of people play the low cost low probability strikes. when they work they payoff well, just don't payoff that often.
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$T and $KMI look like low cost lotto earning plays, entered some $T $15C for less than the whale $16C on todays downgrade and drop. Low cost lotto. Also entered the $KMI 18C for .08 for this weeks earnings with a month to expiry only needing less than a 5% move from current price for strike to be ITM. ExDiv 7/31 on $KMI. > @cRUSTYTrades said: various plays through the week with many running into earnings. some cheapies also. especially T and a few others. let me know you all like any of them
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i threw a few d1s a little off system , is ok to be confident , cost us some percentage
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@Atlas #Emporos Research
i threw a few d1s a little off system , is ok to be confident , cost us some percentage
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**Disinflation, Interest Rates and Gold Prices** In recent years, gold prices have fluctuated dramatically in the global market, often attracting the interest of investors and speculators. Variables that impact gold prices include inflation, central bank monetary policy and geopolitical threats or recessions. It is important to remember that high interest rates drive up the cost of credit, which can deter investors from purchasing assets such as gold that do not generate current income or interest. https://analysis.hfeu.com/en-eu/710019/
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By Katie Paul NEW YORK (Reuters) -With Twitter already on the ropes, Meta's Mark Zuckerberg delivered another blow to Elon Musk on Wednesday, ramping up the tech billionaires' rivalry with the launch of Instagram's much-anticipated companion service Threads, a challenger to Twitter. "Let's do this. Welcome to Threads," Zuckerberg wrote in his first post on the app, along with a fire emoji. He said the app logged 5 million sign-ups in its first four hours. Much like Twitter, the app features short text posts that users can like, re-post and reply to, although it does not include any direct message capabilities. Posts can be up to 500 characters long and include links, photos and videos up to five minutes long, according to a Meta blog post. It is available in more than 100 countries on both Apple (NASDAQ:AAPL)'s App Store and Google (NASDAQ:GOOGL)'s Play Store, the blog post said. Analysts said investors were salivating over the possibility that Threads' ties to Instagram might give it a built-in user base and advertising apparatus. That could siphon ad dollars from Twitter at a time when the microblogging company's new CEO is trying to revive its struggling business. While Threads launched as a standalone app, users can log in using their Instagram credentials and follow the same accounts, potentially making it an easy addition to existing habits for Instagram's more than 2 billion monthly active users. "Investors can't help but be a little excited about the prospect that Meta really has a 'Twitter-Killer'," said Danni Hewson, head of financial analysis at investment firm AJ Bell. Meta stock closed up 3% on Wednesday ahead of the launch, outpacing gains by competitor tech companies as the broader market edged down. Threads' arrival comes after Zuckerberg and Musk have traded barbs for months and even threatened to fight each other in a real-life mixed martial arts cage match in Las Vegas. The timing is opportune for Meta to land a blow, as months of Musk's chaotic decision-making has roiled Twitter. Musk bought Twitter for $44 billion last October, but its value has since plummeted as it faced an exodus of advertisers amid deep staffing cuts and content moderation controversies. Its latest move involved limiting the number of tweets users can read per day. Zuckerberg, in subsequent Threads posts, addressed those challenges. "I think there should be a public conversations app with 1 billion+ people on it. Twitter has had the opportunity to do this but hasn't nailed it. Hopefully we will," he wrote. The integration with Instagram included several nods to privacy considerations. Instagram users who sign up for Threads automatically have a badge affixed to their Instagram profile, but can opt to hide it. They also are given options to choose different privacy settings for each app. Brands like Billboard, HBO, NPR and Netflix (NASDAQ:NFLX) had accounts set up within minutes of launch, as did celebrities like Shakira and other well-known personalities such as former Meta Chief Operating Officer Sheryl Sandberg. The app did not appear to show any ads, according to a Reuters review. To build up Threads, Meta has been making overtures to social media influencers to attract them to the new app and encouraging them to post at least twice a day, said Ryan Detert, CEO of influencer marketing company Influential. Some thanked the company for early access in their initial posts. The app also benefits from the failure of other would-be Twitter competitors to take advantage of the service's stumbles. While a number of burgeoning competitors such as Mastodon, Post, Truth Social and T2 have tried to lure Twitter users away, all remain relatively small so far. Bluesky, a new service backed by Twitter cofounder Jack Dorsey, launched its invite-only beta in February and initially had users clamoring to get access codes. Its website said it had 50,000 users as of April. Dorsey also backed another platform called Nostr. But history is working against Meta. It has suffered multiple failures launching standalone copycat apps in the past, most notably its Lasso app aimed at competing with short video rival TikTok. The company later incorporated a short video tool, Reels, directly into Instagram and more recently wound down its unit tasked with designing experimental apps as part of a cost-cutting drive. Another potential strike against Threads is that the news-oriented culture on Twitter differs from that on Instagram, a more visual platform, said Jasmine Enberg, principal analyst at Insider Intelligence. That cuts against Meta's goal in recent years of moving away from news and political content and instead recommending lighter fare in Reels videos. The company has downplayed the importance of news content on its platforms in regulatory battles over proposals to compel payment to journalistic publishers. Still, said Enberg, Meta only needs to convince a quarter of Instagram's users to join Threads in order to rival Twitter's size. "The reality is that Meta doesn't need to convert Twitter power users into Threads users" to succeed, she said. Zuckerberg, responding to a user who predicted Twitter's demise about an hour after the Threads launch, cautioned patience. "We're only in the opening moments of the first round here," he said.
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they weren't in it lol, protect the dollar at all cost.
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Investing.com - European stock markets traded largely unchanged Tuesday, with investors searching for cues given a light data calendar and a U.S. holiday. At 03:30 ET (07:30 GMT), the DAX index in Germany traded flat, the CAC 40 in France rose 0.1%, while the FTSE 100 in the U.K. traded largely unchanged. There’s little economic data due for release Tuesday to guide sentiment, especially with U.S. markets on holiday as the country celebrates Independence Day. The exception is German export and import numbers for May. These showed the country's exports fell 0.1% on the month in May, indicative of the difficult trading environment that Europe's manufacturing powerhouse is attempting to cope with. The June manufacturing activity data for the eurozone was disappointing, data showed Monday, with surveys showing factory activity in all four of the region's biggest economies contracted last month as persistent policy tightening by the European Central Bank hit hard. Ryanair flies record numbers in June In corporate news, Irish low-cost carrier Ryanair (IR:RYA) flew a record 17.4 million passengers in June, its highest for a single month and a 9% increase from a year earlier. These strong figures came even after the airline, Europe's largest by passengers carried, cancelled more than 900 flights, affecting some 160,000 customers, mainly due to air traffic control strikes last month. Elsewhere, J Sainsbury (LON:SBRY) reported revenue gained 9.8% on a like-for-like basis in the first quarter, prompting the U.K. supermarket to stick with its previous full-year guidance even as it unveiled substantial price reductions on household staples, responding to pressure to pass on price cuts to customers wherever possible. China restricts exports of semiconductor metals Investors will also digest the latest salvo from China in the war between Beijing and the West over access to key high-tech microchips, with China announcing it will curb the exports of some metals widely used in the semiconductor industry. The Wall Street Journal reported early Tuesday that the U.S. is also preparing to curb Chinese companies’ access to cloud computing services, including those of Amazon (NASDAQ:AMZN) and Microsoft (NASDAQ:MSFT). RBA holds interest rates steady Earlier Tuesday, the Reserve Bank of Australia kept its cash rate at an 11-year high of 4.10%, seeking time to assess the impact of the 400 basis points of hikes since May last year. However, Australia's central bank also warned that further tightening might be needed to bring inflation back under control. Aggressive monetary tightening by a series of major central banks, including the European Central Bank, has been a key influence in driving trading sentiment throughout much of this year. Oil helped by supply cuts Oil prices traded higher Tuesday, with traders weighing more supply cuts from Saudi Arabia and Russia against signs of weakening economic activity across the globe. Saudi Arabia announced on Monday it will extend its recently announced 1 million barrels per day cuts to August and potentially beyond, while Russia also said it will trim its oil exports by 500,000 bpd. However, any gains are likely to be limited with U.S. markets on holiday and following weak manufacturing activity readings from the U.S., Germany and China on Monday. By 03:30 ET, U.S. crude futures traded 0.8% higher at $70.36 a barrel, while the Brent contract climbed 0.8% to $75.25. Additionally, gold futures rose 0.3% to $1,934.35/oz, while EUR/USD traded just lower at 1.0908.
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if tsla rips tomorrow i will play calls to cover cost
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i was down on the others, just played the 183s to cover cost and get back near break even on the other ones
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Next Dividend Date
Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China, and Taiwan. It offers branded and private-label products in a range of merchandise categories.
CEO: W. Craig Jelinek
HQ: 999 Lake Dr Issaquah, 98027-8990 Washington