By: Ira EpsteinGold daily chart in a resistance area, what to look for next:Read More
Gold prices continue to climb, tooThe Dow kicked off 2020 with a flourish, finishing up over 330 points, its best session since Dec. 6. The blue-chip index nabbed a fresh intraday high in the process, thanks to the latest weekly jobless claims data and stimulus chatter out of China. The S&P 500 and Nasdaq also posted solid wins and fresh record highs, with the latter nabbing its biggest percentage...Read More
Several Fed presidents will speak on ThursdayThings are beginning to heat back up on the economic calendar and in the earnings arena, as the holidays come to a close and investors gear up for 2020. There's a slew of economic data on tap, with the ADP employment report, nonfarm payrolls, and several manufacturing updates all due. Several Fed leaders are also expected to give speeches Thursday, wh...Read More
Nomura Instinet boosted its price target on AMDAdvanced Micro Devices, Inc. (NASDAQ:AMD) is at the top of the S&P 500 Index (SPX) today, after Nomura Instinet boosted its price target on the chip stock to $58 from $40 -- a 26.5% premium to AMD's 2019 close at $45.86. In reaction, the shares are up 6% at $48.60, earlier hitting a record high of $48.78.The sharp spike higher has sparked a fire in th...Read More
HII has added over 30% over year-over-yearThe world's largest military shipbuilding name Huntington Ingalls Industries Inc (NYSE:HII) is up 0.9% this afternoon, trading at $252.69, at last check. The defense outperformer has surged 31% over the past 12 months, with a recent leg of support forming at the 40-day moving average and $250 level. Plus, data from Schaeffer's Senior Quantitative Analyst...Read More
SWKS has doubled in the last 12 monthsIt's 2020, and there's a new year, a new month, a new quarter, and a new decade to all look forward to. One stock in particularto monitor amid all this "newness" is Skyworks Solutions Inc (NASDAQ:SWKS), as the chipmaker has not only been a top performer in the first quarter, but for the month of January as well.More specifically, data from Schaeffer's Senior...Read More
Stocks are climbing at midday on strength in the semiconductor spaceStocks are continuing to climb at midday, as traders head into the new year on an optimistic note -- mostly thanks to fresh Chinese stimulus measures and a solid performance out of the semiconductor sector. The Dow Jones Industrial Average (DJI), in particular, is pacing for a triple-digit win today and already hit yet another int...Read More
APHA is facing off with its 100-day trendlineIt's a new year, and analysts are busy making their top picks for 2020. One name in particular that's buzzing today is Aphria Inc (NYSE:APHA), after Jefferies named the cannabis stock its top pick in the industry. While upping its price target to $8.40, the analyst in coverage glowed about the company's strong Canadian medical marijuana business, brand...Read More
FSLY shares are holding just above their IPO pricePiper Jaffray this morning upgraded its stance on cloud services stock Fastly Inc (NYSE:FSLY) to "overweight" from "neutral," saying the coming year will be big for the company's customer delivery network business, given live events such as the Olympics and presidential elections in the U.S. Most analysts were already bullish on FSLY stock, with 70...Read More
Wells Fargo downgraded the equity to "underweight" from "overweight" Undergarment manufacturer Hanesbrands Inc. (NYSE:HBI) is off to a rocky start for 2020 after Wells Fargo cut its rating to "underweight" from "overweight," and slashed its price target to $12 from $15. In response, the stock is down 1.6% to trade at $14.59, set for its lowest close in over a week. It's been a gradual slope downw...Read More
Stocks are set to start 2020 with strong gainsU.S. stock futures are pointing to a strong first day of 2020. The Dow Jones Industrial Average (DJI) is set to jump more than 100 points, and the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are on pace to follow suit, as traders monitor strong gains for Chinese equities and weekly jobless claims that came in slightly lower than expected. This comes...Read More
The manufacturing name remains up 21% for the quarterWater and utility measurement service Badger Meter, Inc. (NYSE:BMI) is down 1.8% this morning, last seen at $63.75. Weighing heavy on the equity is a downgrade to "sell" from "hold" at Canaccord Genuity, the firm citing a less favorable reward that is making near-term upside look limited. Coming into today, all three covering analysts carried a...Read More
(New throughout)By Kate DuguidNEW YORK, Jan 2 (Reuters) - The dollar recovered from asix-month low to add 0.44% on Thursday, the first trading day of2020, ending a four-day losing streak and a downbeat Decemberthat had left the index virtually flat at the end of 2019.Trading is likely to remain thin until Tuesday, when mostEuropean countries open after Monday's Epiphany holiday butmarket players w...Read More
- SRSrocco Gold continues to move higher due to trouble in the Fed Repo and U.S. Treasury Market. In the first hour of business today, the Fed has already injected $57 billion in the Repo Market. While the Fed's Repo Market injections did not spike at during the last few days of 2019, as many analysts forecasted, there's still BIG TROUBLE ahead. There have been many reasons attributed to t...Read More
- Stefan GleasonThe year ahead promises to be an eventful one. It will, of course, be dominated by political headlines leading up to the 2020 election. It could also be a big breakout year for precious metals.In the second part of Money Metals' 2020 Outlook, we'll drill down on the fundamental and technical setup for gold and silver...However, in this first part, we'll set the stage by digging i...Read More
Stewart Thomson 1. I predicted gold would bottom in mid-November and it did. Please click here now. Double-click to enlarge this fabulous daily gold chart. 2. A lot of amateur gold investors have missed this rally. That's partly because they thought the "smart money" was shorting a lot of gold on the COMEX. 3. What they probably overlooked was the possibility that the s...Read More
2019 was marked by a big rise in gold, silver and palladium rise among the metals. Natural gas was the biggest looser. UK Pound or cable as we call it was nosedived on brexit but also recovered lost ground after thumping mandate to Boris Johnson in UK elections. Japanese Yen and Euro traded mostly in a range and a trend. Indian rupee had weakened against the US dollar in 2019. There is massive d...Read More
By: Ira EpsteinGold daily chart in a resistance area, what to look for next:Read More
Fieldwork is being done on the property to further determine its upside potential. KORE Mining Ltd. (KORE:TSX.V; KOREF:OTCQB) filed a mineral resource estimate update on its Imperial oxide gold project in California, it announced in a news release. Prepared by SRK Consulting, the report outlines current resources of an estimated 877,000 ounces in the Indicated category, from 45.7 million tons of...Read More
Bob Moriarty of 321gold discusses the similarities between this project and the Witwatersrand deposit in South Africa. I've been writing about Novo Resources and their Witwatersrand lookalike deposit for over five years. Well, Quinton Hennigh is associated with another Wits lookalike, this time in Brazil. It wouldn't be the first time I wrote about a Wits deposit in Brazil, I was writing about De...Read More