Most Active Stocks News Analysis: Yamana Gold, Inc. (NYSE:AUY), Chevron Corporation (NYSE:CVX), J. C. Penney Company, Inc. (NYSE:JCP)

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Gold could re-test is current low price support level and head towards five-year lows reached earlier this summer, as attention turns to a crucial meeting of US central bank rate setters this week.

The precious metal dipped below the psychologically important threshold of $1,100 an ounce on the New York Comex exchange on Friday, The Bullion Desk says, before recovering to around $1,107. It edged up again in Asia overnight to settle at a $1,109, with traders predicting the near-term trend will depend heavily on the Federal Reserves rates decision.

A move to improvement rates will put fresh downward pressure on commodities and especially gold, which does not pay an income and so would look increasingly unattractive contrast to other assets. The gold price also moves in the opposite direction from that of the US dollar, which should rise when rates are raised.

Among Gold Stocks, Shares of Yamana Gold, Inc. (NYSE:AUY), gained 4.64% to $1.58, hitting its lowest level.

The company declared a third quarter 2015 dividend of $0.015 per share. Shareholders of record at the close of business on September 30, 2015 will be entitled to receive payment of this dividend on October 14, 2015. The dividend is an “eligible dividend” for Canadian tax purposes.

Yamana Gold Inc. engages in gold mining and related activities, counting exploration, extraction, processing, and reclamation. The company has precious metal properties and land positions in the Americas.

Oil prices fell on Monday as weaker-than-predictable Chinese data weighed on markets, adding to concerns that declining global demand would exacerbate a surplus of crude.

Traders are also waiting to see whether the U.S. central bank raises interest rates for the first time in nearly a decade later this week.

Should interest rates rise, analysts expect oil to fall as a stronger dollar would undermine demand from importing countries.

Oil prices have fallen almost 60 per cent since June 2014 on the back of the largest global surplus in modern times and concerns about a slowing Chinese economy.

Among oil stocks, Shares of Chevron Corporation (NYSE:CVX), inclined 0.17% to $75.79, during its last trading session.

In the statement by the brokerage house, JP Morgan upgrades its outlook on Chevron Corporation (NYSE:CVX). The current rating of the shares is Overweight, according to the research report released by the firm. Formerly, the company had a rating of Neutral. The brokerage firm lowers the price target from $90 per share to $86 per share.

Chevron Corporation, through its auxiliaries, engages in the petroleum, chemicals, and power and energy operations worldwide. The company operates in two segments, Upstream and Downstream.

Finally, Shares of J. C. Penney Company, Inc. (NYSE:JCP), ended its last trade with 1.78% gain, and closed at $9.74.

J.C. Penney Co. Inc. (JCP) has unveiled yet another private brand, this one an affordable line for younger shoppers, according to American City Business Journals.

Belle + Sky is being piloted at around 50 J.C. Penney stores, stated Fortune. Thirty-five items available online comprise pieces like fringed sweaters, peasant dresses, distressed jeans and a T-shirt with the message like “I care, I swear.” Each item is $100 or less regularly priced, or $60 and under on sale.

J.C. Penney CEO Marvin Ellison said Wednesday at the Goldman Sachs 22nd Annual Global Retailing Conference that Belle + Sky is the company’s first private brand dip into fast fashion. It also stocks MNG by Mango, a fast fashion line carried exclusive in J.C. Penney stores but not produced by Penney itself. American City Business Journals Reports

“We spend a lot of time with suppliers talking about fast fashion retailers, not trying to replicate fast fashion as a strategy but to learn elements of the strategy,” Ellison said. “And from that we are piloting a private brand called Belle and Sky that is our version of fast fashion.”

J. C. Penney Company, Inc., through its partner, J. C. Penney Corporation, Inc., sells merchandise through department stores in the United States. The company sells family apparel and footwear, accessories, fine and fashion jewelry, beauty products, and home furnishings, in addition to provides various services, counting styling salon, optical, portrait photography, and custom decorating. As of March 18, 2015, it operated about 1,060 stores.

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About Travis Garlick 1451 Articles
Been writing about and trading stocks since 2013. Manage a group of micro-cap investors on Facebook with over 15,000 members. Turned $8,500 into 185k the first year I started trading stocks and haven't looked back.