By: Ira EpsteinGold is taking off, not industrial metals. Gold has a bullish crossover, over the upper Bollinger band:Read More
The S&P 500 and Nasdaq logged their third straight lossThe Dow suffered a triple-digit loss today, as hopes for an interest rate cut next month took a hit in the wake of Fed Chair Jerome Powell's speech this afternoon. Powell described the Fed's approach as "patient," and said it's "important not to overreact in the short term." Fanning the flames of uncertainty were additional comments from St. L...Read More
There's recently been a big focus on gold's price moves. What happens next to the price of gold is more important. There is a potentially binary event ahead. Let us explore the issue with the help of two charts. Please click here for a weekly annotated chart of SPDR Gold Shares GLD, -0.92%GLD, -0.92%an exchange traded fund (ETF). Please click here for a daily annotated chart of the same ETF. Ple...Read More
Gold has exploded for an 11% gain over the past month, giving long-suffering gold bugs a chance for some chest-puffery as prices track toward their highest close in more than six years on the back of unsettling geopolitical developments. Count Robert Kiyosaki, the best-selling author of "Rich Dad, Poor Dad," among those basking in the yellow glow of gold's resurgence. 'Gold is God's money... The...Read More
Lennar said the tariffs imposed on Chinese goods created headwinds for the homebuilderThe Dow has reversed its course today, trading lower after Fed Chair Jerome Powell's speech. Several individual stocks are sinking too, including home construction concern Lennar Corporation (NYSE:LEN), as well as drug stocks Acer Therapeutics (NASDAQ:ACER), and Abbvie Inc (NYSE:ABBV). Here's a look at what's...Read More
The well-timed call spreads were bought last week when AGN was trading near $126Wall Street is buzzing today with news of Abbvie Inc's (NYSE:ABBV) $63 billion buyout bid for Allergan plc (NYSE:AGN). The news has AGN stock at the top of the Big Board, and options traders swarming the Botox maker.At last check, 42,750 calls and 33,000 puts were on the tape -- eight times what's typically seen at thi...Read More
Weekly calls are popular on MCD and SBUX after bull notesThe shares of McDonald's Corp (NYSE:MCD) and Starbucks Corporation (NASDAQ:SBUX) have rallied to record highs this year, and brokerage firm Credit Suisse sees more upside ahead. Some options traders have also taken interest in the stocks recently, so let's take a closer peek at MCD and SBUX shares below. McDonald's was started at an "outperf...Read More
Dreary economic data rolled in ahead of the Fed chair's afternoon speechThe Dow Jones Industrial Average (DJI) is modestly lower midday after a dismal batch of economic reports hit ahead of this afternoon's speech from Fed Chair Jerome Powell. Specifically, an S&P CoreLogic/Case Shiller report showed home prices rose at their slowest pace since August 2012, while separate data showed new home sale...Read More
A bullish signal just sounded on the charts for Zscaler It's been a bang-up year for the cloud-based security concern Zscaler Inc (NASDAQ:ZS), which just hit an all-time high of $82.25 late last week. While the stock has cooled off a little, it's still up nearly 93% year-to-date today, testing a recent level of support at its 20-day moving average. What's more, this pullback has put ZS in line wit...Read More
Nvidia stock has suffered on the charts long termSemiconductor name Nvidia Corporation (NASDAQ:NVDA) has struggled since its early October highs.The shares broke below $145 -- around half their all-time high -- last month, and after a subsequent bounce are running into resistance at the $158 level. This area is home to NVDA's June 20 intraday high and a breakdown of a trendline connecting higher l...Read More
Jefferies really prefers Amazon's cloud business over MicrosoftJefferies has been the only brokerage firm with the equivalent of a "sell" rating on Microsoft Corporation (NASDAQ:MSFT), though that really hasn't worked out for the covering analyst, as the blue chip has jumped almost 36% year-to-date. The brokerage firm this morning released a new note in which it raised its price target to $90 from...Read More
The brokerage firm set a Street-low price target on the stock, tooBrighthouse Financial Inc (NASDAQ:BHF) is down 8.7% at $38.12, after Credit Suisse downgraded the insurance issue to "underperform" from "neutral," and slashed its price target by $13 to a Street low $22. Analyst Andrew Kligerman said BHF stock looks expensive at current levels, and lower interest rates this year could negatively im...Read More
GRUB is fresh off its third straight weekly winThe shares of GrubHub Inc (NYSE:GRUB) are up 6.5% at $76.96 this morning, after a big upgrade from Citigroup. The brokerage firm raised its rating on GRUB to "buy" from "neutral," while goosing its price target up to $91 from $75, territory not seen since November. The analyst in coverage waxed optimistic about growth in the online food delivery mark...Read More
The health company just released its Duobrii plaque psoriasis treatment The Canada-based pharmaceutical concern Bausch Health Companies Inc (NYSE:BHC) just announced this morning the launch of its new plaque psoriasis treatment, Duobrii. Thelotion will be commercially available this week and the firm said it expects the drug to be an important revenue driver, dubbing it part of its "Significant...Read More
It could be another quiet day on Wall StreetStock futures are signaling another tepid trading session, as investors continue to await this week's G-20 summit. The Dow Jones Industrial Average (DJI) closed near breakeven on Monday, and futures on the index are pointing to a quiet start today, as others look forward to an afternoon speech from Fed Chair Jerome Powell. In the meantime, gold prices ke...Read More
The red-hot IPO just broke a long winning streak above its 10-day moving averageWith each day that passes, it seems to grow more difficult to ignore the growing cult of Beyond Meat Inc (NASDAQ:BYND). The vegan burger stock shocked Wall Street when it ballooned from its early May initial public offering (IPO) price of $25 per share to an intraday high north of $200 per share in just under seven wee...Read More
(Updates with closing prices)By Peter HobsonLONDON, June 25 (Reuters) - Copper prices reached aone-month high on Tuesday as a strike at a major mine in Chileunderlined a supply shortfall, although investors were on edgeahead of U.S.-China trade talks later this week.Benchmark copper on the London Metal Exchange (LME)ended up 1.4% at $6,042 a tonne after touching $6,051.50, thehighest since May 21....Read More
Based on the big jump in gold contract open interest and the spike up in EFP/PNT transactions, it's likely the banks have been setting the trap for another massive open interest liquidation price control operation.During periods of aggressive price control, the activity of PNT/EFPs also soars. These transactions avoid settlement in 100 oz Comex bars per basic contract terms. Instead, it's...Read More
Here Are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average ended little changed Monday as investors looked to the upcoming G-20 summit for a breakthrough in U.S.-China trade talks. Shares of Caesars Entertainment (CZR - Get Report) soared after Eldorado Resorts (ERI - Get Report) agreed to buy Caesars in a $17.3 billion deal that will create the biggest U.S. gam...Read More
James HyerczykJun 24, 2019 12:27 AM GMTLast week’s price action in gold proved once again it’s not safe-haven buying that drives gold prices, but the direction of U.S. interest rates and the U.S. Dollar. Last week, both were in play when the Federal Reserve strongly suggested a rate cut was coming later this year, and traders vehemently indicated the first rate cut is coming in late...Read More