20 Biggest Scandals in Country Music
Even the most beautiful — and the most talented — country stars have had their names dragged through the mud.
A version of this article was previously published in June 2015.
Gold Futures Settle Higher For 3rd Straight Session
Gold futures settled higher on Monday, extending gains to a third straight session, as the dollar drifted lower, weighed down by recent comments by Fed Chairman Jerome Powell that the central bank is not in a hurry to raise interest rates.
The dollar index dropped to 93.99, losing about 0.3%. The index is currently at 94.08, down 0.24 points or 0.25%.
Gold futures for December ended up by $11.20 or about 0.6% at $1,828.00 an ounce, the highest close since September 3.
Silver futures for December ended higher by $0.385 at $24.542 an ounce, while Copper futures for December settled at $4.3990 per pound, gaining $0.0560 for the day.
The Federal Reserve, which held rates unchanged after its monetary policy meeting last week, announced a reduction in monthly bond purchases.
The Fed restated its belief that inflation would be “transitory” and it would await more signs of job growth before deciding to start hiking rates.
Crude Oil Futures Settle Notably Higher
Crude oil futures settled notably higher on Monday, extending gains from the previous session, amid rising optimism about outlook for energy demand.
Strong U.S. jobs data, a bigger than expected increase in China’s exports in October, and the passage of the infrastructure bill in the U.S., have raised hopes that energy demand will see a marked surge in coming weeks.
Also, Saudi’s state-owned producer Aramco’s decision to raise the official selling price for its crude to customers in Europe, Asia and United States suggest that demand remains strong.
West Texas Intermediate Crude oil futures for December ended higher by $0.66 or about 0.8% at $81.93 a barrel.
Brent crude futures were up $0.90 or 1.1% at $83.64 a barrel a little while ago.
On Friday, the U.S. House of Representatives passed the infrastructure plan, which could create 2 million jobs a year over the decade. The plan would provide funds for broadband, roads, bridges and other projects.
Traders also noted the latest S&P Global Platts survey that said OPEC and its allies boosted crude oil production by 480,000 b/d in October, but only half of the group’s members actually increased output last month as many in the coalition are struggling to pump as many barrels as they had promised.
Treasuries Give Back Ground Amid Profit Taking
After moving notably higher over the two previous sessions, treasuries gave back some ground during trading on Monday.
Bond prices moved to the downside early in the session and remained in negative territory throughout the day. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, rose by 4.4 basis points to 1.497 percent.
With the increase on the day, the ten-year yield rebounded after ending last Friday’s trading at its lowest closing level in over a month.
The pullback by treasuries was partly due to profit taking, as traders cashed in some of the recent strength among bonds, which had benefited from indications the Federal Reserve is not in a hurry to raise interest rates.
Bond prices saw some further downside after the Treasury Department revealed this month’s auction of $56 billion worth of three-year notes attracted below average demand.
The three-year note auction drew a high yield of 0.750 percent and a bid-to-cover ratio of 2.33, while the ten previous three-year note auctions had an average bid-to-cover ratio of 2.46.
The bid-to-cover ratio is a measure of demand that indicates the amount of bids for each dollar worth of securities being sold.
Looking ahead, trading on Tuesday may be impacted by reaction to the Labor Department’s report on producer prices in the month of October.
Bond traders are also likely to keep an eye on the results of the Treasury’s auction of $39 billion worth of ten-year notes.
European Economics Preview: Eurozone Investor Confidence Data Due
Investor sentiment data from euro area is due on Monday, headlining a light day for the European economic news.
At 1.45 am ET, the Swiss State Secretariat for Economic Affairs is scheduled to issue unemployment data for October. The jobless rate is seen at 2.7 percent, down from 2.8 percent in September.
At 2.00 am ET, Statistics Norway is set to issue manufacturing output for September. Output had declined 0.6 percent on month in August.
At 4.00 am ET, the Czech Statistical Office releases industrial and construction output data and foreign trade figures. Industrial output is expected to fall 0.9 percent annually after easing 1.4 percent in August.
In the meantime, foreign trade data is due from Hungary. Economists forecast the trade deficit to narrow to EUR 62 million from EUR 751 million in August.
Half an hour later, Eurozone Sentix investor confidence data is due. The investor confidence index is forecast to decline to 15.5 in November from 16.9 in the previous month.
Advanced Energy Industries Q3 Profit Down
Advanced Energy Industries, Inc. (AEIS), Monday reported third-quarter net income from continuing operations of $21.0 million or $0.55 per share, down from $45.6 million or $1.18 per share a year ago.
Adjusted income for the quarter was $34.0 million or $0.89 per share, down from $63.8 million or $1.66 per share a year ago.
Sales for the quarter slipped to $346.1 million from $389.5 million last year.
Analysts polled by Thomson Reuters estimated earnings of $0.82 per share on revenues of $341.52 million for the quarter.
“Our third quarter results represent solid performance in a supply-constrained environment,” said Steve Kelley, president and CEO of Advanced Energy. “Demand for our highly engineered power delivery systems remains extremely robust. In addition, we are very pleased by the customer reaction to our new technologies and products, the drivers of AE’s future revenue and profit growth.”
Looking forward to the fourth quarter, the company expects adjusted earnings of $0.92 per share, plus or minus $0.25, and revenues of $355 million, plus or minus $20 million. Analysts currently estimate earnings of $1.12 per share on revenues of $373.09 million for the quarter.