Gold Futures Settle Higher As Dollar Loses Ground

Gold prices climbed higher on Monday as the dollar shed ground against major currencies as investors looked ahead to policy announcements by the Federal Reserve and the Bank of England for clarity on interest rate hike moves.

The dollar index dropped to 101.40, losing more than 0.4%.

Gold futures for June ended higher by $9.30 or about 0.5% at $1,999.80 an ounce.

Silver futures for May ended up $0.253 at $25.311 an ounce, while Copper futures for May settled at $3.9540 per pound, down $0.0260 from the previous close.

Investors also await a reading on U.S. first-quarter GDP along with the Fed’s favored measure of inflation this week for clues on the health of the world’s largest economy.

Reports on consumer confidence, new home sales, durable goods orders, and personal income and spending are also due this week.

Cleveland-Cliffs Inc. Q1 Earnings Summary

Below are the earnings highlights for Cleveland-Cliffs Inc. (CLF):

Earnings: -$57 million in Q1 vs. $801 million in the same period last year.
EPS: -$0.11 in Q1 vs. $1.50 in the same period last year.
Analysts projected -$0.19 per share
Revenue: $5.30 billion in Q1 vs. $5.96 billion in the same period last year.

Simpson Manufacturing Co Inc Bottom Line Drops In Q1, but beats estimates

Simpson Manufacturing Co Inc (SSD) revealed a profit for first quarter that decreased from the same period last year but beat the Street estimates.

The company’s bottom line came in at $88.0 million, or $2.05 per share. This compares with $94.6 million, or $2.18 per share, in last year’s first quarter.

Analysts on average had expected the company to earn $1.40 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 8.3% to $534.4 million from $493.6 million last year.

Simpson Manufacturing Co Inc earnings at a glance (GAAP) :

-Earnings (Q1): $88.0 Mln. vs. $94.6 Mln. last year.
-EPS (Q1): $2.05 vs. $2.18 last year.
-Analyst Estimates: $1.40
-Revenue (Q1): $534.4 Mln vs. $493.6 Mln last year.

Heidrick & Struggles International Inc. Q1 Income Retreats, but beats estimates

Heidrick & Struggles International Inc. (HSII) released a profit for first quarter that decreased from the same period last year but beat the Street estimates.

The company’s bottom line came in at $15.6 million, or $0.76 per share. This compares with $18.5 million, or $0.90 per share, in last year’s first quarter.

Analysts on average had expected the company to earn $0.64 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter fell 15.7% to $239.3 million from $283.9 million last year.

Heidrick & Struggles International Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $15.6 Mln. vs. $18.5 Mln. last year.
-EPS (Q1): $0.76 vs. $0.90 last year.
-Analyst Estimates: $0.64
-Revenue (Q1): $239.3 Mln vs. $283.9 Mln last year.

-Guidance:
Next quarter revenue guidance: $260-$280 mln

First Republic Bank Bottom Line Drops In Q1, but beats estimates

First Republic Bank (FRC) revealed a profit for first quarter that decreased from the same period last year but beat the Street estimates.

The company’s earnings came in at $229 million, or $1.23 per share. This compares with $364 million, or $2.00 per share, in last year’s first quarter.

Analysts on average had expected the company to earn $0.85 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter fell 13.6% to $1.21 billion from $1.40 billion last year.

First Republic Bank earnings at a glance (GAAP) :

-Earnings (Q1): $229 Mln. vs. $364 Mln. last year.
-EPS (Q1): $1.23 vs. $2.00 last year.
-Analyst Estimates: $0.85
-Revenue (Q1): $1.21 Bln vs. $1.40 Bln last year.

Treasuries Show Notable Move Back To The Upside

Following the downturn seen over the course of the previous session, treasuries moved back to the upside during trading on Monday.

Bond prices moved higher early in the session and climbed more firmly into positive territory as the day progressed. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, fell by 5.5 basis points to 3.515 percent.

Treasuries may have benefited from their appeal as a safe haven ahead of the release of some key economic data later this week.

Traders are likely to keep an eye reports on consumer confidence, new home sales, durable goods orders, first quarter GDP and personal income and spending.

The personal income and spending report includes a reading on inflation said to be preferred by the Federal Reserve and could impact the outlook for interest rates ahead of the Fed meeting next week.

Trading on Tuesday may be impacted by reaction to the latest U.S. economic data, including reports on home prices, new home sales and consumer confidence.

Chief: Olathe Police’s Facebook page is unpublished without warning

After Olathe Police Chief Frank Rodriguez and his officers attended a Saturday event to support sexual assault survivors, he did what he’s often done since becoming chief earlier this year. Rodriguez went to post a photo from the event to the department’s Facebook page.

He couldn’t. The same thing happened when he attempted to share a post about a missing dog. The reason? The Olathe Police Department’s Facebook page had been unpublished.

Read more on the Montrose Press.