Now why does a commodity trader care about earnings? To start, the results will affect movement in both S&P and Nasdaq futures. It also gives traders a read on the mood of the country, how consumers are spending and how companies are preparing to move forward. In my opinion, all of will can effect prices and demand for commodities.» Read More
Editor's Note: Due to Hurricane Sandy, there will be no "Futures Now" show on Tuesday, Oct. 30.
Runaway public spending combined with excessively loose monetary policy by the Federal Reserve and other global central banks will push gold to $5,000 per ounce within the next two years, noted investor Peter Schiff said Thursday.
A longtime bullion bull, the head of Euro Pacific Capital told Futures Now in an interview that despite a recent retracement, "gold's got only one direction to go, and that's higher."
The implacable gold bug dismissed the idea that costly gold would deter people from buying it. He renewed his critique that the Fed's bond-buying policy – combined with cheap money policies from other major central banks – will eventually stoke the embers of hyperinflation and lead to a sharply devalued U.S. dollar. (Read more: Peter Schiff: Stock Market Gains a Fed 'Delusion'.)
Against that backdrop, Schiff said, near worthless fiat money will leave people with precious little choice other than the yellow metal.
From the iPod to the iPhone and iPad, Apple released one "market-defining" product after another for years, but the technology company has grown so large that it's losing its "first-mover advantage" and its competitors are catching up, Seabreeze Partners founder Doug Kass told CNBC on Tuesday.
The popularity of Amazon's Kindle and Google's Nexus 7 in the lower end of the tablet market seemingly drove Apple to finally release a pocket-sized slate of its own. Apple introduced a smaller version of its iPad called iPad Mini Tuesday. In turn, Apple shares dropped near session lows after the company announced the 16 GB version of the mini will be priced at $329, higher than expectations.
(Read More: Apple Unwraps iPad Mini and New, Full-Sized iPad 4.)
Gold traded to new lows Tuesday, as investors cling to the U.S. dollar ahead of the Federal Open Market Committee meeting slated for Wednesday.
After Google shocked Wall Street with a big miss on both revenues and earnings, a top technology investor said it's time to sell shares of the Internet search and advertising leader.
Google reported a 20 percent dive in net income to $2.18 billion. Excluding certain items, the Mountain View, Calif.-based company earned $9.03 a share, vastly underperforming the $10.65 analysts had expected, on average.
(Get the latest quotes for Google here.)
Google also reported net revenue — excluding traffic acquisition costs — of $11.3 billion for the third quarter, below Wall Street's expectations for about $11.9 billion. The tech company has been struggling to turn around a loss-making Motorola Mobility, which it bought for $12.5 billion earlier this year.
Daniel Niles, chief investment officer at AlphaOne Capital Partners, has long been bearish on Google and held a negative position on its stock. After Google's huge earnings miss, Niles told CNBC's "Futures Now " that his firm is adding to the short.
To Niles, Google's problem is that while people are still searching, a growing number of searches happen on smartphones and tablets versus personal computers. On a PC, Google can add multiple display ads into the search results, Niles said. Smartphones and tablets come with a much smaller screen, though, which means Google can't display as many ads. Niles estimates that mobile devices cut down on display ads by up to 50 percent, as compared to a PC.
"More people are buying smartphones and tablets, so this is a big problem for them going forward, " Niles said, adding Facebook and Yahoo face similar issues being as both Internet companies are also largely reliant on advertising. "This switch from PC to smartphones and tablets helps some of the Internet players, like the e-commerce guys like an eBay and it hurts other guys like a Google."
(Watch: Why Google's Big Miss Doesn't Bode Well for Facebook)
Can S&P make a run for 1, 500? After a solid three day run, equities trended lower Thursday morning. Monday started out the week with an outside bullish day that proved to follow through. The S&P 500 index is running into a slight wall at the 1, 466/68 area which is a double in the last 35 days, ultimately proving to be a resistance point. Traders appear to be taking China's lackluster gross domestic product data and soft U.S. jobless claims in strife. That's a good thing.
So how should you play the levels? I will be looking to buy the first test down at 1, 447 if the market allows. The 1, 452 level should also prove to be a solid support level ahead of jobless claims data. Only a close back below 1, 441 will start to create doubt about whether this market will be able to follow through in the immediate term, and a close back 1, 433 will turn the action bearish.The bottom line is that bulls may want to buy the breakout.
Read on for 10 Things You Need to Know to Trade Futures
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