Author: John Wilkes

Gold Rises to Four-Year High

Gold Rises to Four-Year High

Gold prices were up nearly 3% on Thursday to a four-year high after the Federal Reserve took a dovish stance on interest rates, signalling the possibility of future rate cuts and cutting the value of the U.S. dollar, while rising Mideast tensions sent investors to the safe-haven metal Gold for August delivery was last seen up US$36.60 to US$1,385.40 per […]

Chipmakers Dragging Tech Sector Lower

Chipmakers Dragging Tech Sector Lower

Technology stocks were weighing on the broader US markets, with the shares of tech companies in the S&P 500 sinking almost 0.9% this afternoon in value while the Philadelphia Semiconductor Index was falling nearly 2.8% after chipmaker Broadcom (AVGO) cut its FY19 revenue forecast below Street views. Among technology stocks moving on news: (-) Finisar (FNSR) was off nearly 2% […]

Broadcom Fiscal Q2 Non-GAAP EPS Tops Street View; Revenue Misses

Broadcom Fiscal Q2 Non-GAAP EPS Tops Street View; Revenue Misses

Broadcom (AVGO), a technology company, reported fiscal Q2 non-GAAP earnings that topped but revenue that missed Wall Street expectations, and it lowered its revenue outlook for the current fiscal year. Shares fell more than 7% in extended trading on Thursday. Non-GAAP EPS increased to $5.21 for the three months ended May 5, from $4.88 a year earlier. That surpassed the […]

Oil Rises As Russia Looks to Support Continued Production Cuts

Oil Rises As Russia Looks to Support Continued Production Cuts

Oil prices edged higher early on Tuesday after Russia said it may agree to extend a pact with OPEC to keep 1.2 million barrels of oil per day off the market. West Texas Intermediate crude for July delivery was last seen up US$0.65 to US$53.91 per barrel while near month Brent crude rose US$0.38 to US$62.67. OPEC and Russia are […]