Gold prices today touched over $1,346 an ounce – continuing this week's rise to the highest level in three weeks.
This move came despite news that larger investors are no longer investing in gold as much as earlier this year.
Billionaire investor George Soros sold his entire position in the SPDR Gold Trust (NYSEArca: GLD) in the second quarter of 2013. Another billionaire investor, John Paulson, reduced his holdings in GLD by 53% in Q2.
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The stock market today killed the idea of "turnaround Thursdays"…
The Dow fell 225.39 points Thursday, one day after the benchmark fell 113 points, its first triple-digit decline since June 28. With Thursday's drop, the Dow hit its first back-to-back triple-digit decline since June 19-20, when it plummeted nearly 560 points over the two days.
June's rout was spurred by comments from the Federal Open Market Committee (FOMC) following its June meeting. At the time, the central bank said it would taper QE this year should the economy and job market continue to improve.
The current swoon, however, stems from way more than the Fed…
Almost half of Americans (47%) say the Affordable Care Act, aka Obamacare, is a bad idea, according to a fresh Wall Street Journal/NBC News poll.
But 100% (okay, it's only three) of the healthcare professionals I have spoken with believe the law overhauling the nation's healthcare system is a terrible idea.
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Classifying MLPs as "income" stocks is a big mistake. It's a costly one too…especially if it's growth you're after.
Yes, the partnerships toss off tons of cash. The high-net worth folks I work with can achieve, for example, $350,000 in cash payouts from investing $5 million in an MLP yielding 7%.
But they're more like growth stocks in disguise…
Remember, the high income is merely a function of the MLP structure. They're set up in a "pass-through" structure. This means that up to 90% or more of the distributions you receive from an MLP will be considered a return of capital, not income, by the IRS. You don't pay taxes immediately on this portion of the distribution.
But these big cash payouts are driven by growth. A lot of it.
The story of how to invest in oil in the U.S. is changing thanks to a new development…
Before now, much of the increased oil production (U.S. output at a 17-year high) from the Bakken in North Dakota and the Eagle Ford and Permian Basin in Texas never reached the marketplace. It simply piled up in storage facilities at the main U.S. oil hub in Cushing, OK.
The huge inventory of oil at Cushing was the main culprit behind domestic WTI (West Texas Intermediate) crude oil selling at a discount to the global benchmark, Brent crude oil.
But, as pointed out by Money Morning Global Energy Specialist Dr. Kent Moors, that is all beginning to change.
Already the spread between WTI and Brent has narrowed dramatically from about $20 a barrel in February to less than $3 a barrel today.
The reason for the change is the amount of pipeline infrastructure being added to move oil from the Cushing choke point to refineries on the Gulf Coast.
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In the spring of 2012, JPMorgan Chase & Co.'s (NYSE: JPM) not-so-rogue trader, Bruno Iksil, better known as the London Whale, made a series of derivatives trades on credit default swaps that only appeared to be unauthorized.
In reality, those trades were just one side of JPMorgan betting against the other in a doom struck hedging strategy.
We're talking about trades so big they made waves across a $10 trillion market.
Money Morning Capital Wave Strategist Shah Gilani joined FOX Business' "Varney & Co." today (Wednesday) to answer the question, "Is Apple stock a buy?"
Gilani called Apple stock a "Buy" last time he appeared on "Varney." Back on July 23, Apple (Nasdaq: AAPL) announced its Q3 2013 earnings. Apple stock closed out at $418.99 that day, and has since surged to $489.15 as of yesterday.
Gilani's pick was right, and now he tells viewers why he continues to believe it's a good idea to buy Apple stock.
Money MorningChief Investment Strategist Keith-Fitzgerald talked with China Central Television – America on Tuesday about the Foreign Account Tax Compliance Act (FACTA).
The act appears to be targeted at capturing the ill-gotten gains of wealthy criminals who hide money overseas. But will it have unintended effects on ordinary Americans who live and do business abroad?
Watch the video and find out.
Apple (Nasdaq: AAPL) stock hit about $500 a share today (Wednesday) – a level not seen since January – and some option traders might want to send Carl Icahn a fruit basket…
You see, Tuesday afternoon, in a single tweet, the legendary 77-year-old activist investor added more than $17.26 billion to Apple's market cap. At 2:21 p.m., pre-tweet, AAPL stock was trading at $475. Following the tweet, shares shot up to $494, before settling the day at $489.57.
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We've been recommending gold shares for months now, ever since prices collapsed in April. But timing's getting critical, because now the market is telling you gold is set to surge…
The first piece of evidence hit my radar on August 1st, moments after Barrick Gold released its $8.7 billion "news." (More on that in a minute.)
