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Market News

Location American Market News for 11 December 2013
Gold Prices To Struggle On Higher Interest Rates, U.S. Dollar Editor's Note: Check out Kitco's full 2014 coverage.
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Unraveling the Lies Madoff Told

Wall Street Journal - 11 Dec 2013 07:12
Even after he confessed to orchestrating the biggest Ponzi scheme in history, Bernard Madoff insisted he acted alone and his separate market-making operation was legitimate. Both claims have been exposed as lies.
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Stanley Fischer Reportedly Tapped To Be Next Fed Vice Chairman The former Bank of Israel Chief would take over for Janet Yellen when she leaves the post to become Fed chairwoman.
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Make Coal Workable With This Clean Energy Play When it comes to clean air, or even tolerable air, coal-powered plants, particularly utilities, are seen as obstacles that must be overcome. Some types of coal burn less dirty than others and we all know of efforts to sw...
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$86B And Counting: 2014 May Be Wall Street's Worst Year Yet For Mortgage Trouble Wall Street's biggest banks have shelled out $86 billion in mortgage settlements so far, and US Attorney General Eric Holder is threatening more fraud cases early next year.
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3-D Printing Stocks Catch Wall Street's Eye

Wall Street Journal - 11 Dec 2013 22:50
Surging share prices and blockbuster initial public offerings from 3-D printing companies are drawing attention from analysts at the big Wall Street banks.
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Fischer Poised to Be Picked as Fed's No. 2

Wall Street Journal - 11 Dec 2013 22:20
President Barack Obama is close to nominating former Bank of Israel chief Stanley Fischer to become the vice chairman of the Federal Reserve.
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Japanese Automakers Struggle To Realize The 'China Dream' This year new vehicle sales in China will top 20 million units. For every four automobiles sold worldwide, one will have been sold in China.
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Budget Deal: A Gimmick That Just Might Work

Forbes - 11 Dec 2013 22:07
Budget Deal: A Gimmick That Just Might Work I view a commitment to reduce spending in 10 years as a bit of gimmickry.
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How Not To Critique App Monetization Strategies One of the Christmas season's big mobile apps is rolling out today - and a notably weird review of Rovio's "Angry Birds Go" in The Verge is a good example of how confused or misguided criticism of the app industry can be...
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In China, a Down Year for Investment Banks

Wall Street Journal - 11 Dec 2013 21:18
Investment-banking revenue in China this year has slumped to its lowest level since 2009, even as overseas takeovers and bond sales by companies there rose to record levels.
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3D Systems Leads 3D Printing Movement But HP Could Become A Major Player, Jefferies Says Jefferies initiates coverage on five 3D printing companies, calling at-home 3D printing unrealistic but mass manufacturing a promising possibility.
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Russian Ruble Gets a Symbol

Wall Street Journal - 11 Dec 2013 20:27
Russia has chosen an official symbol for its national currency as part of an effort to encourage the use of the ruble in international trade and as a potential reserve currency.
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The Changing Face Of Chinese IPOs

Forbes - 11 Dec 2013 19:32
The Changing Face Of Chinese IPOs U.S. appetite for Chinese stocks has grown immensely, but like in any hot market there have been hiccups.
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Autohome IPO Explodes On Chinese Car-Buying Potential, But Real Winner Is Australian Autohome, the Chinese auto information website, popped over 75% after its initial public offering Wednesday.
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Can Another Retailer Follow The Best Buy Playbook In 2014? The reeling electronics chain went from outhouse to penthouse in 2013, but those looking to match its trick will have a tougher time.
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World's most expensive helmet

CNN - 11 Dec 2013 18:52
Sebastian Vettel sets another F1 benchmark as he sells his race helmet for a world record price.
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Use Options For a Chance To Buy VRX at a 42% Discount Looking back to 176 days ago, Valeant Pharmaceuticals International (NYSE: VRX) priced a 23,529,412 share secondary stock offering at $85.00 per share. Buyers in that offering made a considerable investment into the comp...
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(Kitco News) -Much of the strength in gold futures over the last few days has been chalked up to short covering, leaving market participants wondering how much more is in store.
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(Kitco News) - A potential two-year budget deal is not having much impact on gold prices Wednesday morning as a bigger event looms on the horizon, -next week's Federal Open Market Committee monetary policy meeting - ana...
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Gold Weaker On Corrective Pull-Back

Forbes - 11 Dec 2013 18:16
(Kitco News) - Gold prices are modestly lower in early U.S. trading, on a downside correction following decent gains seen Monday and Tuesday.  February gold was last down $4.90 at $1,256.20 an ounce. Spot gold was last...
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Stocks In Sea Of Red As Rally Loses Momentum U.S. stocks are broadly lower today after some downside action in some sectors yesterday. We did have some very nice individual stock action, which has been the theme for December as well as most of this year.
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