$COST
Costco Wholesale Corp
PRICE
$596.31 ▲0.01%
Extented Hours
VOLUME
1,475,343
DAY RANGE
590.59 - 596.35
52 WEEK
441.96 - 599.94
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@trademaster #TradeHouses
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.
130 Replies 6 👍 12 🔥
@trademaster #TradeHouses
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.
147 Replies 6 👍 12 🔥
@trademaster #TradeHouses
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.
92 Replies 15 👍 13 🔥
@trademaster #TradeHouses
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.
113 Replies 9 👍 12 🔥
@Jonove #droscrew
A family of four probably cost $50 easily at McDs with fries and a drink
109 Replies 11 👍 15 🔥
Key Metrics
Market Cap
263.98 B
Beta
0
Avg. Volume
1.62 M
Shares Outstanding
442.74 M
Yield
0.66%
Public Float
0
Next Earnings Date
2023-12-07
Next Dividend Date
Company Information
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
Website: https://www.costco.com/
HQ: 999 Lake Dr Issaquah, 98027-8990 Washington
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