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A popular way to bet on gold miners was trading about 1.5% higher on Monday. The advance in the VanEck Vectors Gold Miners ETF comes as gold futures are on track to hit their highest level in nearly three months, according to FactSet data. Gold futures were up $10.40, or 0.9%, at $1,231.10 an ounce on Monday and was looking at their best settlement since Nov. 10. Although the S&P 500 index and the Dow Jones Industrial Average have been mostly rising in the wake of President Donald Trump’s early tenure, gold has been gaining ground after since mid November, amid concerns about the health of the European economy, a pick up in inflation and political anxiety about U.S. trade and immigration policies under the new administration.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Facebook investors can rest easy as Snap does not appear to be as much of a competitive threat as expected, said Nomura analysts. The analysts say Snap is “unlikely to negatively affect Facebook’s growth trajectory in a direct way” as the company’s prospectus showed a deceleration in average revenue per user in the fourth-quarter as well as decelerating user growth in the second half of 2016, which came after Facebook launched Instagram Stories. Though there is not a direct comparison, Facebook engagement appears to be strong, with the company reporting 50 minutes per day spent on its sites, compared to Snap’s disclosure of younger users spending 30 minutes a day on the app. Shares of Facebook were up 0.5% Monday. Facebook shares have gained 8.9% in the past three months, compared to the S&P 500’s gain of 9.8%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

A popular way to bet on gold miners was trading about 1.5% higher on Monday. The advance in the VanEck Vectors Gold Miners ETF comes as gold futures are on track to hit their highest level in nearly three months, according to FactSet data. Gold futures [s:GCJ7] were up $10.40, or 0.9%, at $1,231.10 an ounce on Monday and was looking at their best settlement since Nov. 10. Although the S&P 500 index and the Dow Jones Industrial Average have been mostly rising in the wake of President Donald Trump’s early tenure, gold has been gaining ground after since mid November, amid concerns about the health of the European economy, a pick up in inflation and political anxiety about U.S. trade and immigration policies under the new administration.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Bank of America Corp. credit outlook got a lift by ratings agency Moody’s Investors Service, which revised its outlook to positive from stable, meaning the credit rating could be raised in the intermediate term. Moody’s rates BofA’s credit at Baa1, which is just three notches above speculative grade, or junk status. The new outlook reflects expectations of “improving profitability in the next 12-to-18 months as expense management efforts generate cost savings and rising interest rates boost revenue,” Moody’s said in its statement Monday. “However, further improvement in the bank’s credit strength will be driven by its ability to adhere to a more conservative risk profile as compared to its peers in addition to sustaining the increase in profitability.” The note comes after President Trump signed executive orders to sharply reduce regulatory oversight of banks, and as the Federal Reserve has suggested it would raise interest rates three times in 2017. The stock, which eased less than 0.1% in midday trade, has soared 37% since the election, while the SPDR Financial Select Sector ETF has run up 19% and the S&P 500 has gained 7.3%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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Tiffany & Co. shares were downgraded to neutral from buy at Mizuho Monday, after the company surprised investors with the news that Chief Executive Frederic Cumenal was stepping down with immediate effect. Mizuho lowered earnings estimates and cut its stock price target to $74 from $90. “While we still consider TIF as a foremost luxury brand with multiple longterm drivers, we are concerned with multiple executive changes LTM,” analysts wrote in a note. “While seasoned veteran Chairman Michael Kowalski will assume the interim CEO position, TIF faces several near-term headwinds ranging from macro volatility in APAC and Europe, lack of visibility in the U.S. business, and diminishing commodity price benefits.” Shares were down about 3% in early trade, but have gained 22% in the last 12 months, matching the S&P 500’s gain.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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French conservative presidential candidate Francois Fillon will remain in the race despite an investigation into his wife Penelope’s state pay, reports said Monday. Fillon said payments made from public funds to his wife for work she performed were legal and that details of the payments will be released later Monday. Fillon said during a press conference he made an error in judgment in employing his wife and his children and apologized to the French people. Since the payments were legal, however, there are no plans to repay any money, Fillon said, according to reports. Fillon is running against center-left candidate Emmanuel Macron and far-right National Front party leader Marie Le Pen to become France’s next president.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

A popular way to bet on gold miners was trading more than 20% higher on Monday, putting it on track for its best daily jump since Jan. 31. The surge in the VanEck Vectors Gold Miners ETF comes as gold futures are on track to hit their highest level in nearly three months, according to FactSet data. Gold futures [s:GCJ7] were up $9.40, or 0.8%, at $1,230.10 an ounce late-morning Monday and looking at their best settlement since Nov. 10. Although the S&P 500 index and the Dow Jones Industrial Average have been mostly rising in the wake of President Donald Trump’s very early tenure, gold also has been demonstrating some staying power as concerns about the health of the European economy, a pick up in inflation and anxiety about the U.S. trade and immigration policies

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

The U.S. dollar rose against the euro on Monday after European Central Bank President Mario Draghi indicated that the region’s economy wasn’t yet strong enough to withdraw ECB stimulus despite signs of improvement. While Draghi said that the economy was improving, recent pick-ups in inflation were driven by energy prices rather than core inflation. The euro traded at $1.0728 from $1.0785 late Friday. At its low of the session, the euro fell to its weakest level against the dollar in a week. The U.S. dollar index rose 0.3% on the day.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Power Solutions International Inc. was downgraded to hold from buy at Wunderlich Securities, citing the uncertainty surrounding the power systems company’s business prospects following the resignation of its independent accountant and chief financial officer. The stock had plummeted 62% on Friday to a record low, after Power Solutions disclosed in a filing that its independent accountant RSM US LLP had notified the company in its resignation letter that there were material weaknesses in internal controls over revenue recognition and overall control environment and that it could no longer reply on management representations. CFO Michael Lewis followed by agreeing to take a leave of absence and announcing his intent to resign effective March 4. The company said it started exploring strategic alternatives to improve its liquidity position and maximize shareholder value. Wunderlich analyst Liam Burke said that despite the long-term potential of Power Solutions’ alternative fuel products, he can’t remain bullish on the stock after the company’s disclosures. “Despite the benefit of cost reductions and contracts that could drive future revenue, the current financial uncertainty outweighs any future potential, in our opinion,” Burke wrote in a note to clients. The stock bounced 37% in morning trade, but was still down 67% over the past 12 months, while the S&P 500 has run up 22%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News