You may want to think twice before you go mining for precious metal ETFs. “Gold miners always outperform about two to three times whatever the underlying commodity does, and that’s both up and down,” Grasso said. “So, if gold underperforms and trades down, the gold miners are going to go down about two to three times more. It’s just an anomaly that always happens and you’ve got to be aware of it when you’re investing around a metal.” Gold prices slipped Monday as the potential for a U.S.-China t

Data software company Cloudera named Rob Bearden as its new CEO on Monday. Bearden was previously the CEO of rival Hortonworks, which merged with Cloudera last year in a stock swap that valued the combined companies at $5.2 billion. The two companies’ stocks moved lower as they competed with each other, as well as better-capitalized cloud infrastructure providers like Amazon and more traditional database software companies like Oracle. Cloudera’s CEO following the merger, Tom Reilly, resigned in

Fridays, which is known for being the original singles bar, is planning to revamp its bar business as the company prepares to be publicly traded again for the first time in decades. Fridays bar,” CEO Ray Blanchette said at the ICR Conference in Orlando, Florida, on Monday. About 30% of Fridays’ $2.1 billion in systemwide sales come from its bar. Besides bringing the chain back to its roots, revamping its bar business also means sales with higher profit margins. “When I returned, the thing that w

The stock market has picked up 2020 pretty much where 2019 left off, thanks in large part to two key Federal Reserve moves that could keep the rally going, at least until something goes wrong. “That’s a really big message that I can’t think of another Fed really delivering.” Friedman said the change means the Fed has gone from considering 2% a ceiling for inflation to perhaps a floor. The Fed since implemented its own repo operations on an as-needed basis, then decided to extend its operations t

Big U.S. banks J.P. Morgan Chase, Bank of America and Citigroup will benefit from a rebound in trading revenue in the fourth quarter, but that might matter less than what executives say about this year’s guidance. Last month, executives at the three banks all cited increased trading results in the final three months of 2019. The rebound comes from banks’ fixed-income trading operations, projected to rise 25% on average, versus a 3% bump in stock trading revenue, KBW analyst Brian Kleinhanzl wrot

Sometimes the stars of ABC’s “Shark Tank” disagree on what makes a great entrepreneur. On Sunday’s episode, Shark Barbara Corcoran turned down a founder because she was still being financially supported by her father, while Mark Cuban and Daymond John told Corcoran her thinking was wrong. I just graduated from NYU,” Bartow told the Sharks. After the deal, Corcoran told the Sharks she insulted Bartow to determine whether she would have a strong response. “Barbara’s got the best people skills,” he

Technician: JPMorgan has looked ‘too good’ for much too longCornerstone Macro technician Carter Worth on JPMorgan vs. the world. With CNBC’s Brian Sullivan and the Fast Money traders, Tim Seymour, Lori Calvasina, Dan Nathan and Guy Adami.

J.P. Morgan, Wells Fargo and Citigroup all report quarterly earnings before the bell on Tuesday. Barclays is forecasting J.P. Morgan will report fourth-quarter earnings of $2.30 per share, above the $1.98 per share earned in the same quarter last year. Citigroup will report fourth-quarter earnings of $1.83 per share, according to Barclays. This tops last year’s fourth-quarter earnings of $1.64 per share. Barclays expects Wells Fargo to report earnings per share of $1.08, compared to the $1.21 pe

Shares of GameStop fell more than 8% in extended trading after announcing holiday sales numbers that were down sharply from the previous year and lowering guidance. Cloudera climbed more than 2% in extended trading after it announced a new chief executive officer. Cloudera and Hortonworks merged last year in a deal that valued the combined companies at $5.2 billion. Shares of Visa inched about 0.2% higher after the company announced a deal to acquire Plaid, a fintech firm. Plaid’s technology let

For the first time in Academy Award history, the studio with the most nominations is a streaming service. On Monday, Netflix nabbed 24 nominations for the big awards ceremony, more than any other media company in the industry this year. The streaming service has clashed with creators, theater owners and the Academy. While the film didn’t win, it did pick up the best international feature, best director and best cinematography awards. In December, the streaming service garnered the most Golden Gl

The comments highlight law enforcement’s frustration with encryption technologies that protect data so that neither Apple nor law enforcement can easily read it. So far Apple has not given us any substantive assistance,” Barr said, next to a poster with a picture of the iPhones. When Barr was asked if he was considering a court order to compel Apple to unlock the iPhones, he declined to comment. Last week, an Apple employee focused on privacy who was speaking at a trade show defended Apple’s use

A former U.S. Treasury official pleaded guilty Monday to illegally leaking highly confidential documents about suspicious financial transactions of ex-Trump campaign chief Paul Manafort and others to reporters at BuzzFeed News. The official, Natalie Mayflower Sours Edwards, leaked so-called suspicious activity reports, or SARS, starting in October 2017 about Manafort, his business associate and fellow Trump campaign official Rick Gates, Russian agent Maria Butina, the Russian Embassy in Washingt

A general view of the atmosphere at the Pensacola Naval Air Station following a shooting on December 06, 2019 in Pensacola, Florida. The attack brought fresh complications to U.S.-Saudi relations at a time of heightened tensions between the United States and Iran, Saudi Arabia’s regional rival. Saudi Air Force Second Lieutenant Mohammed Saeed Alshamrani, 21, was fatally shot by a deputy sheriff during the Dec. 6 incident at the facility in Pensacola, Florida. During a news conference, Barr – the

Strategists say the move higher has been due to optimism over China and the global economy now that the trade deal is about to be approved. Emerging market currencies have been moving higher, including the Mexican peso, the Brazilian real, and the Indian rupee. Chandler said strong industrial production and strong retail sales for Germany were helping drive bund yields higher. Chandler said the China deal is helping other currencies. You have Brexit and you have the China deal,” he said.

Payments giant Visa is buying Silicon Valley start-up Plaid in a deal worth $5.3 billion, the companies announced Monday. Plaid’s API software, often referred to as the “plumbing” behind fintech companies, lets start-ups connect to users’ bank accounts. High-profile Plaid customers include popular peer-to-peer payment app Venmo, mobile investing app Robinhood and cryptocurrency exchanges Coinbase and Gemini. Kelly said the Visa deal will help expand its own total addressable market and relations

Soon, you’ll be able to play Teamfight Tactics, the League of Legends-themed auto-battler game, where ever you go. On Monday morning, Riot announced that TFT will arrive on mobile devices in mid-March. The mobile version of TFT will include plenty of improvements designed specifically for mobile platforms. Teamfight Tactics producer Dax “Lunchboy” Andrus explained in the video that Riot wanted to bring the game to mobile in a way that felt intentional, rather than just a PC port. The developer a

Last week, Dicey Dungeons creator Terry Cavanagh celebrated the 10th anniversary of an earlier game, VVVVVV, by releasing its source code to the public. Some of the response to VVVVVV’s source code has been horror, as onlookers pick apart things that could have been written better. Open source code like this makes it clear that you can successfully ship without that level of perfection.” In this case, there’s a particular portion of the VVVVVV source code that is sparking discussion due to its s

They already uncovered the missing Vileblood Queen boss fight last year, and now the community has found another. And this newly uncovered boss variant was originally to be a rare boss at the end of the Loran Chalice Dungeon. The Loran Cleric boss is a fireball slinging baddy with several flame attacks. Foxy Hooligans used a jailbroken PS4 and DSTools modding tools by katalash to rebuild The Loran Cleric boss. It’s unclear if players will ever have an easy way to play the Loran Cleric boss fight

But, the same rules don’t apply to the Dungeon Masters Guild, a partnership between Wizards and OneBookshelf that began in 2016. “The Dungeon Masters Guild was an idea that I had back in 2010,” says Wizard’s Chris Lindsay, the creator of the DMs Guild. My first proper introduction to the DMs Guild came when I was looking for a quick one-shot adventure to run for my friend’s birthday. “These are folks that have become prominent contributors to the Dungeon Masters Guild,” Lindsay said. Searching f

Ubisoft’s Might & Magic: Chess Royale may be the weirdest genre mashup to come out in 2020, and we’re only 13 days into January. If the Chess Royale title isn’t self-explanatory let us be more clear: it’s an auto chess game where you play against 99 other people, like a battle royale. Chess Royale pulls heroes from the popular Might & Magic universe, and players can combine units or use heroes to win each match. If you’re familiar with either autobattlers or battle royale games, you may be wonde