Yesterday, the Nobel prizes in economics were awarded. Unfortunately, gold has been omitted and got nothing. How unfair! But looking at the Dutch central bank press release, gold would have much higher chances if they were the ones granting the prizes and not the Swedish central bank!2019 Nobel in Economics and GoldYesterday was a big day! At least for all those boring economists and similar bean-...Read More
Preciousmetals moved strongly on Friday, and did so on significant volume. Thereversals we have seen on Thursday got resolved with a heavy thud. Let’s diveinto the many charts and perspectives and explore how well they support theupcoming move across the sector. Let’sstart this week with a bigger update on multiple gold charts. There are so manyreasons due to which gold is likely to de...Read More
At present, there could be a number of positive developments for precious metals.Last Friday, the US Dollar cracked lower and could be at risk of lower levels into year end.Days earlier the Federal Reserve announced new “QE-like” measures just as they told us it was not really QE. In addition, the market is showing a nearly 68% chance of a rate cut later this month. Isn&rsqu...Read More
RambusPerspective is everything when it comes to the markets. It is always most important to look at the long term charts first and then work your way back to the shorter timeframes. Long term charts also show where major support and resistance resides that can have a calming affect on ones emotions when the inevitable corrections take place.Its been several months or so since we last looked at...Read More
By: Ira EpsteinGold 18-week moving average above $1,461+ Gold is in a correction mode right now. Read More
StrengthsThe best performing metal this week was palladium, up 1.98 percent. Even after a weekly loss, gold traders and analysts stayed bullish on their outlook for prices in the weekly Bloomberg survey. Stocks continue to swing and currencies fluctuate ahead of continued U.S.-China trade talks. Just like last week, palladium hit a fresh all-time high this week of $1,707.51 an ounce, according...Read More
Skepticism on the positive impact of US-China partial trade deal has resulted and silver trading firm. In my view, there will be more trade deal with other nations should Trump's political problems worsen. Further trade deal between USA and rest of the world will be dependent on internal politics of USA. Trend of gold and silver till Wednesday needs to be closely watched. Trend (whether bullish...Read More
Stocks finished in the red amid skepticism about a "phase one deal" Stocks finished a relatively quiet session lower today, after trading on both sides of breakeven amid waning optimism over Friday's partial trade deal between Beijing and Washington. Reports emerged that China wishes to continue trade talks before finalizing the "phase one" deal, which would require China to purchase up to $50 bil...Read More
PBI, meanwhile, has swung higher this afternoonThe stock market is trading modestly lower this afternoon, as traders digest the latest U.S.-China trade news. Among individual names making notable moves are data analytics specialist Datadog Inc (NASDAQ:DDOG), e-commerce concern Pitney Bowes Inc. (NYSE:PBI), and teledentistry firm SmileDirectClub Inc (NASDAQ:SDC). Here's a quick roundup of what's mo...Read More
TUR is already pacing for its worst month in more than a yearTheiShares MSCI Turkey ETF (TUR) is in the red today, after President Donald Trump tweeted, "Big sanctions on Turkey coming!" The threat comes after a Turkish invasion of northern Syria, and following the president's orders to withdraw U.S. troops from the area. Against this backdrop, the exchange-traded fund (ETF) is already set for its...Read More
Needham expressed concern over competitive pricing and a drop in Chinese customers Laser manufacturers nLight Inc (NASDAQ:LASR) and IPG Photonics Corporation (NASDAQ:IPGP) are feeling the heat today after Needham expressed concerns about both companies. Below, we'll look at these bear note, and how they're affecting the two semiconductor names. Starting with LASR, the analyst slashed its price tar...Read More
VNET calls were popular coming into todayOne stock making a notable spike today is Chinese data services provider 21Vianet Group Inc (NASDAQ:VNET). The company inked an agreement with Alibaba (BABA) to deploy data center services, and the shares of VNET were last seen up 15% at $8.30. In response, there's unusual options trading on 21Vianet, and calls in particular are popular. Roughly 850 calls h...Read More
The 40-day moving average has acted as a short-term speed bump in the pastBlue chip UnitedHealth Group Inc (NYSE:UNH) is 0.4% higher on the charts this afternoon, with traders cautiously optimistic ahead of earnings. The healthcare name is slated to report third-quarter earnings before the open tomorrow, Oct. 15. Let's take a closer look at what the options market may be expecting for the equity'...Read More
The index has made big daily moves while essentially going nowhereIt's been a wild October so far for the stock market, as investors have reacted to Fed buzz and updates on U.S.-China trade negotiations. In fact, from Sept. 27 to last Friday, Oct. 11, the S&P 500 Index (SPX) moved at least 0.4% every single session, regardless of direction. That's the first 11-day streak of notable moves in more t...Read More
Both stocks made their public trading debuts in SeptemberCowen initiated coverage on Exagen Inc (NASDAQ:XGN) with an "outperform" rating and $17 price target, representing expected upside of 34.8% to Friday's close at $12.61. The brokerage firm said XGN stock is undervalued, and that the diagnostics company's autoimmune test for systemic lupus erythematosus, Avise CTD, works better than similar...Read More
Oil prices are sharply lower todayThe Dow Jones Industrial Average (DJI) is cautiously higher to start the new week, as the U.S.-China trade optimism from Friday is replaced with skepticism. A Bloomberg report indicated China is hesitant to sign off on an official "phase one" deal, and labeled the Friday developments as "substantial progress," instead of the "greatest and biggest trade deal ev...Read More
Consolidation looms but risks loom larger.Gold continues to beat expectations.Gold's top producers showcase impressive developments.Consolidation Looms but Risks Loom Larger Since June, the gold price has enjoyed a relentless advance of over $250 per ounce, to a six-year high of $1,557 on September 4, then spent the rest of September consolidating around the $1,500 level. The gold price found...Read More
KBW lifted its price target for Charles Schwab to $39.50 from $38Positive analyst attention today from KBW has the shares of investment firm Charles Schwab Corporation (NYSE:SCHW) slightly higher, set to extend a three-day win streak. Specifically, the broker lifted its price target to $39.50 from $38, just ahead of the company's third-quarter earnings report, due out before the open tomorrow, Oc...Read More
Most analysts remain bearish on FITB sharesFifth Third Bancorp (NASDAQ:FITB) is trading lower early on despite bullish analyst attention. BofA-Merrill Lych just raised its opinion to "buy" from "neutral" despite trimming its price target by $1 to $30. This price target still sits near annual-high territory for the shares, which were last seen trading down 0.6% at $26.70.At these levels, FITB is ho...Read More
BYND is fresh off its worst weekly loss in almost two monthsThe shares of Beyond Meat Inc (NASDAQ:BYND) are down 4.2% to trade at $125.88 today, after Wells Fargo initiated coverage on the faux-meat concern with a "market perform" rating and $125 price target. The analyst in coverage advised investors to tone down the aggressive expectations, and cautioned "restraint," as the market waits for mo...Read More