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Yahoo
38 minutes ago
- Yahoo
Gold futures rise after report Trump has placed tariffs on gold bars
US gold futures hit a historic high on Friday after the Financial Times reported that the Trump administration had imposed tariffs on imports of one-kilo gold bars. Futures traded on the Comex, the world's largest gold futures market, were up 0.9% at $3,484.60 an ounce as of around 11am CEST. This came after the futures hit an all-time high of $3,534.10. The FT said it had seen a letter from the US Customs Border Protection agency, dated 31 July, which stated that one-kilo and 100-ounce gold bars should be classified under a customs code subject to levies. Investors had previously expected these types of gold bars to be exempt from Trump's tariffs. In April, Washington had excluded metals like gold, silver, and platinum from broad US import duties, reducing the price of Comex futures as investors ruled out a supply squeeze. Before this, traders had been buying cheaper foreign gold and bringing it into the US, capitalising on the price difference between US futures and other benchmarks. So far this year, gold Comex futures have risen almost 34% as investors adapt to geopolitical uncertainty, viewing gold as a secure place to park their money. In times of instability, gold is considered a safe-haven asset because its value is less volatile than other investments, even when currencies fall. Related Gold's record rally stalls on hopes of easing global trade tensions Gold prices are high - but here's why investors are still flocking to it 'Sustained by factors like its safe haven credentials and a weakening dollar in 2025 – this latest development will have gold bugs eyeing the $4,000 level,' said AJ Bell head of financial analysis Danni Hewson on Friday, referring to the FT report. 'The news is more bad news for Switzerland after being hit by a shock 39% export tariff to the US, given it is one of the biggest precious metal hubs globally,' she added. Gold is one of Switzerland's most significant exports to the US, and the country sent around $61.5bn (€52.8bn) of gold to the US over the 12 months ending in June. The tariff report comes as a fresh blow to Switzerland after the US administration announced a 39% levy on its exports last week. Switzerland's President Karin Keller-Sutter and other top officials travelled to Washington on Tuesday to try to lower the tariff rate, among the highest imposed by the Trump administration. The new rate is over 2.5 times higher than the one on European Union goods exported to the US and nearly four times higher than the one on British exports. It is also steeper than the 31% rate that Trump proposed for Swiss goods when he announced his so-called 'Liberation Day' tariffs in early April. So far, Switzerland's powerful pharmaceutical industry, which has promised major investments in the US in recent months amid the tariff worries, is exempt from the 39% rate. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Fox News
an hour ago
- Fox News
Ex-Washington Post fact-checker faces criticism over claims of 'straight' media coverage
One of the internet's most famous fact-checkers, former Washington Post writer Glenn Kessler, was grilled by author and podcaster Mark Halperin on Friday over media bias. The man behind The Washington Post's "Pinocchios" announced in late July he would be leaving the paper without anyone to fill his shoes. Kessler, who reportedly edited more than 3,000 fact checks as editor and chief writer of The Fact Checker, announced that week he had taken a buyout deal, ending his lengthy career at the Post. "After more than 27 years at The Washington Post, including almost 15 as The Fact Checker, I will be leaving on July 31, having taken a buyout," Kessler wrote on his Facebook page. "Much as I would have liked to keep scrutinizing politicians in Washington, especially in this era, the financial considerations were impossible to dismiss." With his career and the Washington Post's recent record in the spotlight among many shakeups at the publication, Halperin raked Kessler over the coals on his "Next Up" podcast. "How could it be that I see The Post as fundamentally anti-Trump in every day, in every crevice of every story practically, and you say 'We are down the middle by the book,' and 'the fact that our readers are liberal is because we're in Washington DC.' How could that be?" Halperin asked on his show. Kessler disagreed with the characterization of newsrooms like the one he worked in, arguing, "It's not like people in the newsroom are saying, 'We've got to get Donald Trump. We've got to write this story. We're going to slant it in a way that is negative to Donald Trump.'" "I agree with you, it's more insidious than that," Halperin said, arguing it would be more comforting if they gave up the pretense of objectivity. "Your audience, by your own acknowledgment, and by every indication, is super liberal," Halperin said. "We saw that when the owner did things that were pro-Trump - perceived as pro-Trump, and you lost a huge percentage, as you cite in your Substack, a huge percentage of your readers. So, your audience is liberal and you're addicted to their revenue." He then asked, "How could you work at a place for decades and say 'we're addicted to liberal revenue' and not be screaming at the top of your lungs, 'Boy, half the country might have a point that we're liberally biased. Let's examine that.'" "I maintain, as a longtime Washington Post reporter, that the news coverage is straight," Kessler insisted. "But Glenn, it's not just me. It's half the country. I'm not alone," Halperin replied. "Half the country is affected by Donald Trump saying we're [the] 'enemy of the people,'" Kessler argued. "Well, George Bush thought it was true, too," Halperin retorted. "Ronald Reagan thought it was true, too. This is not some new thing. It's only because of 'Trump Derangement Syndrome' that the papers' news section has become even more aggressive of saying 'We must defeat Republicans.'" Fox News Digital reached out to The Washington Post for comment.
Yahoo
an hour ago
- Yahoo
Analysts Have Been Trimming Their The Trade Desk, Inc. (NASDAQ:TTD) Price Target After Its Latest Report
One of the biggest stories of last week was how The Trade Desk, Inc. (NASDAQ:TTD) shares plunged 37% in the week since its latest second-quarter results, closing yesterday at US$54.23. Results were roughly in line with estimates, with revenues of US$694m and statutory earnings per share of US$0.18. Following the result, the analysts have updated their earnings model, and it would be good to know whether they think there's been a strong change in the company's prospects, or if it's business as usual. So we collected the latest post-earnings statutory consensus estimates to see what could be in store for next year. Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. Following the latest results, Trade Desk's 37 analysts are now forecasting revenues of US$2.86b in 2025. This would be a modest 6.9% improvement in revenue compared to the last 12 months. Statutory earnings per share are forecast to decrease 5.9% to US$0.80 in the same period. Yet prior to the latest earnings, the analysts had been anticipated revenues of US$2.86b and earnings per share (EPS) of US$0.84 in 2025. So it looks like there's been a small decline in overall sentiment after the recent results - there's been no major change to revenue estimates, but the analysts did make a minor downgrade to their earnings per share forecasts. View our latest analysis for Trade Desk It might be a surprise to learn that the consensus price target fell 5.7% to US$84.88, with the analysts clearly linking lower forecast earnings to the performance of the stock price. That's not the only conclusion we can draw from this data however, as some investors also like to consider the spread in estimates when evaluating analyst price targets. Currently, the most bullish analyst values Trade Desk at US$135 per share, while the most bearish prices it at US$47.00. So we wouldn't be assigning too much credibility to analyst price targets in this case, because there are clearly some widely different views on what kind of performance this business can generate. As a result it might not be a great idea to make decisions based on the consensus price target, which is after all just an average of this wide range of estimates. These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the Trade Desk's past performance and to peers in the same industry. We would highlight that Trade Desk's revenue growth is expected to slow, with the forecast 14% annualised growth rate until the end of 2025 being well below the historical 25% p.a. growth over the last five years. Juxtapose this against the other companies in the industry with analyst coverage, which are forecast to grow their revenues (in aggregate) 3.7% per year. So it's pretty clear that, while Trade Desk's revenue growth is expected to slow, it's still expected to grow faster than the industry itself. The Bottom Line The biggest concern is that the analysts reduced their earnings per share estimates, suggesting business headwinds could lay ahead for Trade Desk. Fortunately, they also reconfirmed their revenue numbers, suggesting that it's tracking in line with expectations. Additionally, our data suggests that revenue is expected to grow faster than the wider industry. The consensus price target fell measurably, with the analysts seemingly not reassured by the latest results, leading to a lower estimate of Trade Desk's future valuation. Keeping that in mind, we still think that the longer term trajectory of the business is much more important for investors to consider. We have estimates - from multiple Trade Desk analysts - going out to 2027, and you can see them free on our platform here. You still need to take note of risks, for example - Trade Desk has 1 warning sign we think you should be aware of. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
