Facebook Shares Plummet on Day 2 By DREW FITZGERALD And MATT JARZEMSKY NEW YORK—Facebook Inc. shares plunged on their second day on the stock market, a black eye for all those involved with the social networking company going public. “The underwriters completely screwed this up,” said Michael Pachter, analyst at Wedbush Securities. “This thing should have been half as big…
By Barani Krishnan NEW YORK | Fri May 18, 2012 8:18pm EDT (Reuters) – Hedge funds and other money managers liquidated more than $2 billion in gold futures over a week, trade data on Friday showed, before a forceful rebound in the precious metal potentially tripped up some of them. The majority of fund managers also appear to have…
NEW YORK | Thu May 17, 2012 9:04am EDT (Reuters) – New U.S. claims for unemployment benefits were unchanged last week, according to government data on Thursday that will do little to ease concerns about a recent slowdown in jobs growth. COMMENTS: DOUG ROBERTS, CHIEF INVESTMENT STRATEGIST, CHANNEL CAPITAL RESEARCH.COM, SHREWSBURY, NEW JERSEY “What we’re seeing is…
Prominent hedge fund manager John Paulson held on to his ETF bullion holdings in the first quarter of this year, profiting from an early surge in gold prices before the market tanked, a regulatory filing by his company showed on Tuesday. It was the first time Paulson had retained his position in the SPDR Gold Trust [GLD 150.35 0.61 (+0.41%) …
Mon May 14, 2012 9:12pm GMT (Updates with markets’ close; technical comment on CRB) * CRB at lowest since October 2010 * U.S. crude, copper, gold near 4-month lows * Raw sugar rebounds after nearing 20-month bottom By Barani Krishnan NEW YORK, May 14 (Reuters) – The selloff in commodities deepened o n M onday,…
NEW YORK/LONDON (Reuters) – Copper crumbled to a four-month low on Monday as commodities slumped broadly on fears of a slowdown in global economic growth triggered by political deadlock in Greece and further signs of a struggling Chinese economy. Most other metals also fell, with nickel sinking to a 2012 low below $17,000 a tonne,…
TECHNICALS- US soybean breakdown turns bullish view bearish Tuesday, 08 May 2012 16:55:57 By Carole Vaporean NEW YORK, May 8 (Reuters) – U.S. soybean futures <Sc1> exhibited a clear bearish signal on Tuesday when they broke below a key trendline, rupturing channel support that has been growing since early 2012. On the daily continuation chart,…
Gold down 2 percent, breaks below $1,600 on euro fears By Frank Tang NEW YORK | Wed May 9, 2012 1:28am IST (Reuters) – Gold fell around 2 percent in heavy trading on Tuesday, briefly breaking below $1,600 an ounce as worries that the euro zone debt crisis could worsen triggered a technical selloff. Gold retraced some…
Published: Friday, 4 May 2012 | 6:30 PM ET NEW YORK (Reuters) – Hedge funds and other money managers made more positive wagers on commodities than negative bets for the first time in five weeks, the Commodity Futures Trading Commission reported Friday, as softening U.S. data raised expectations for a stimulus. But a huge sell-off in…
Published: Thursday, 3 May 2012 | 2:38 PM ET NEW YORK/LONDON (Reuters) – Copper fell in moderate dealings on Thursday, on track for its first weekly loss in the past three, after a double-dose of soft data from the United States dented global growth prospects, already down on China’s slowdown and Europe’s spiraling debt crisis. The…