Barclays downgraded offshore oil drillers Ensco (ESV) and Atwood Oceanics (ATW) to Underweight, the firm’s equivalent of a sell rating, from Equal Weight. Large oil companies probably won’t undertake more drilling projects until at least early 2018, the firm believes. WHAT’S NEW: Barclays analyst J. David Anderson now does not expect the offshore oil drilling…
Last week the Treasury cut back the supply of the 4 week bills to $55 billion from $60 billion. Today they just announced another cut, to $45 billion. As a result of continuing massive demand for short government paper, the 4 week bill rate broke down from its range and closed at 18 basis points…
Shares of Alder Biopharmaceuticals Inc. (ALDR) were up almost 50% today after the company announced positive phase 2 results in patients with chronic migraines. More specifically the trial was looking to see how much migraine prevention can be done using the company’s drug ALD403. The ALD403 drug showed that it could work quickly in patients…
Silver is the most managed commodity on the planet because its relationship to gold – because if its held down this will help control the price of gold. The status quo needs to have the multitudes remain complacent and distracted from their nefarious ways, because they are debasing everything, not the least of which is…
There was a ‘flash crash’ in the very quiet overnight, but gold managed to gain it back and then come, closing positive on the day. Silver was quiet, holding its ground. The Bucket Shop was delivery quiet last Friday, and there was a little bullion sloshing around in the warehouses as you can see below….
In the long list of nightmares that market risk managers have to wrestle with on a daily basis, some have gradually receded. For competently-run banks and large trading institutions, the possibility of a rogue trader making undiscovered trades or mis-marking his own book – another Nick Leeson – is increasingly remote given the layers of oversight. But…
The U.S. stock market is in a bull-bear tug of war and naturally, analysts and market watchers are, at this point, divided over speculations as to where the market is headed. Though the middle stance seems most plausible, the markets may witness higher volatility in the days ahead. Moreover, the ongoing see-saw in the financial…
The Nikkei was the bright spot in Asian equity markets today closing up 0.8% whilst the JPY decline would have cost 0.3% of that gain. It was far better than the declines we saw in mainland China which closed -1.7%. Yuan gained small ground today and was last seen 6.5212. Given the majority of the…
Ira Epstein leads us through the day’s precious metal highlights. Video Length: 00:06:37
Music streaming service Pandora (P) announced Monday that founder Tim Westergren will return as Chief Executive Officer of the company. Pandora also introduced a new management structure, giving Chief Financial Officer Mike Herring the additional title of president and appointing strategy chief Sara Clemens as Chief Operating Officer to focus on scaling the business and…
