The April federal budget deficit came in at a staggering $738 billion as government coronavirus stimulus began flowing through the pipelines and revenue dipped due to the government lockdowns.Analysts expected a massive deficit in April, but it's still a staggering number. To put it into perspective, the previous record for a single month was $235 billion and that was just in February of this...Read More
By: Ira EpsteinGold chart action shows the triangle forming, the apex with the bulls in the control at its downtrend test..Read More
The mirage of quick growth vanished and realty bite came after Federal Reserve chairman Powell dashed hopes an early US economic recovery. He also struck down any chances of negative interest rates. Gold rose as a result. There was short covering in gold as well. At the moment gold looks headed for $1760. Silver will follow the trend of industrial metals. Overall sharp correction in silver will...Read More
April job report shows a terrible US labor market. Coronavirus destroyed 20.5 million jobs, pushing the unemployment rate to almost 15 percent. How far does the number reflect reality – and what does it actually mean for the gold market?Apocalypse in the US Labor Market 14.7 percent. Remember this value well, as it will go down in history. This is the official US unemployment rate for April...Read More
Over the last 50 years there have virtuallybeen no significant Silver rallies during a period when the US Dollar index hasbeen rising.If you are betting on a massive Silver rallywhile US dollar strength continues, then you have a very low probability ofsuccess. Similarly, if you bet on a massive Silver rally while the US dollarcontinues a long decline, then you have a great chance of success.So, f...Read More
Technical analyst Clive Maund explains why he's bullish on silver. The way you see silver now depends on whether you see a glass that is half empty or half full. If you are a pessimist by nature you will be grumbling about its underperformance relative to gold up to this point, but if you are an optimist, as we certainly are with regards to silver, you will see it as maintaining the opportunity to...Read More
April job report shows a terrible US labor market. Coronavirus destroyed 20.5 million jobs, pushing the unemployment rate to almost 15 percent. How far does the number reflect reality – and what does it actually mean for the gold market?Apocalypse in the US Labor Market 14.7 percent. Remember this value well, as it will go down in history. This is the official US unemployment rate for April...Read More
Over the last 50 years there have virtuallybeen no significant Silver rallies during a period when the US Dollar index hasbeen rising.If you are betting on a massive Silver rallywhile US dollar strength continues, then you have a very low probability ofsuccess. Similarly, if you bet on a massive Silver rally while the US dollarcontinues a long decline, then you have a great chance of success.So, f...Read More
Technical analyst Clive Maund explains why he's bullish on silver. The way you see silver now depends on whether you see a glass that is half empty or half full. If you are a pessimist by nature you will be grumbling about its underperformance relative to gold up to this point, but if you are an optimist, as we certainly are with regards to silver, you will see it as maintaining the opportunity to...Read More
April job report shows a terrible US labor market. Coronavirus destroyed 20.5 million jobs, pushing the unemployment rate to almost 15 percent. How far does the number reflect reality – and what does it actually mean for the gold market?Apocalypse in the US Labor Market 14.7 percent. Remember this value well, as it will go down in history. This is the official US unemployment rate for April...Read More
Over the last 50 years there have virtuallybeen no significant Silver rallies during a period when the US Dollar index hasbeen rising.If you are betting on a massive Silver rallywhile US dollar strength continues, then you have a very low probability ofsuccess. Similarly, if you bet on a massive Silver rally while the US dollarcontinues a long decline, then you have a great chance of success.So, f...Read More
Technical analyst Clive Maund explains why he's bullish on silver. The way you see silver now depends on whether you see a glass that is half empty or half full. If you are a pessimist by nature you will be grumbling about its underperformance relative to gold up to this point, but if you are an optimist, as we certainly are with regards to silver, you will see it as maintaining the opportunity to...Read More
By: Ira EpsteinGold is forming a triangle pattern and from that pattern, we will see how the price will breakout. In the meantime we have an uptrend..Read More
Fed Chair Powell's bleak comments drove the Dow down over 600 points at its session lowsInvestors were unable to get over Fed Chair Jerome Powell's warnings this morning, as the Dow locked in an over 500-point loss by the close. Many traders are starting to have even more doubts about the surge stocks saw last week in anticipation of an already shaky economic reopening, with Appaloosa Management f...Read More
Disney has lost "powerhouse" status amid the coronavirus pandemic Entertainment and theme park mogul Walt Disney Co (NYSE:DIS) has stepped back from its normal "powerhouse" status amid the coronavirus pandemic, forced to close all theme parks across the globe and halt production on films and television series. This drop-off has triggered the security to fall back below its $200 billion market cap...Read More
Royal Caribbean is offering $3.3 billion in senior bondsThe shares of Royal Carribean Cruises Ltd (NYSE:RCL) are down 5.8% to trade at $34.21 at last check, amid news that the company is offering $3.3 billion in senior bonds, backed by 28vessels and two private islands for collateral. The cruise line plans to use the notes to repay a $2.35 billion loan as well as manage other aspects of the compan...Read More
The Dow is down over 300 points middayThe Dow Jones Industrial Average (DJI) is down over 330 points midday as economic data and increasing uncertainty due to Fed Chair Jerome Powell's comments on potential "downside risks" weigh on the market. As states begin to ease lockdowns, CEO of The Earnings Scout, Nick Raich, wrote that "everything is dependent on the next several months and how successfu...Read More
This will be Draftking's first earnings report as a publicly traded company Online sports and gaming name DraftKings Inc (NASDAQ:DKNG) is barreling towards a new all-time closing high today, up 4.2% at $27.40,after billionaire investor George Soros disclosed a stake in the company last night. The surge comes two days ahead of DraftKings' first-quarter earnings report, due out on Friday, May 15. T...Read More
Occidental Petroleum is offering voluntary buyouts to employeesThe shares of Occidental Petroleum Corp (NYSE:OXY) are down 4.5% at $13.91 at last check, following news that the company is offering their employees voluntary buyouts over the next two weeks -- citing issues and the massive decline in oil prices as a result of coronavirus. OXY posted a roughly $2 billion quarterly loss just last week...Read More
LVS has traded sideways in the last three weeksThe shares of Las Vegas Sands Corp. (NYSE:LVS) are down 1.1% to trade at $45.50, after the casino developer axed its Japanese casino pursuits. Although no specific reason was given, all signs point to the coronavirus pandemic. After the company made quick recoveries in other Asian markets, LVS CEO Sheldon Adelson said in a statement, "It is time for...Read More