The tractor maker will report earnings ahead of Friday's openJ.P. Morgan Securities downgraded Deere & Company (NYSE:DE) stock to "underweight" from "neutral," and slashed its price target to $132 from $154. The brokerage firm cited "rapidly deteriorating fundamentals" in U.S. agriculture, due to "tariffs and excess global supply," declining Chinese demand for soybeans amid an African swine fever...Read More
Ralph Lauren stock recently breached its 320-day trendlineShares of retail giant Ralph Lauren Corp (NYSE:RL) are down 5.1% at $112.20 in early trading, despite the company reporting impressive fiscal fourth-quarter earnings and international sales. The pullback is in part due to adecline in North American revenue, on top of general fears around the effects of the U.S.-China tariff battle -- thoug...Read More
Rising meat prices could benefit Tyson FoodsDespite new competition from Walmart (WMT) and Beyond Meat (BYND), the shares of Tyson Foods, Inc. (NYSE:TSN) have still had a huge year, up 49% in 2019 to trade at $79.57. The outperformance has pushed the equity's 14-day Relative Strength Index (RSI) deep into overbought territory, last seen at 82. However, Credit Suisse weighed in on TSN stock this mo...Read More
U.S. import prices rose less than expected in April Futures on the Dow Jones Industrial Average (DJI), S&P 500 Index (SPX), and Nasdaq-100 Index (NDX) are signaling a rebound this morning, after yesterday's intense, U.S.-China trade sell-off. The major stock market indexes suffered their worst session in months on Monday, after China retaliated with increased tariffs on $60 billion worth of U.S...Read More
Position update Yesterday after China raised tariffs to US, the short position of Gold Futures was directly stopped out.Considering the market reaction of September 24, 2018, when US raised tariffs to China, we closed Oil long positions at 62.8 and NZDUSD long position at cost.No new trade idea today. Click on the image to enlarge EURUSD Holding above 1.1215, the trend is still pointing higher...Read More
* GRAPHIC-2019 asset returns: (Updates with closing prices)By Zandi ShabalalaLONDON, May 14 (Reuters) - Copper rebounded on Tuesday asinvestors emboldened by solid supply and demand fundamentalssought bargains after tit-for-tat trade tariffs between theUnited States and China triggered a fall in prices.China said on Monday that it would impose higher tariffs onmost U.S. imports on a revised $60 bi...Read More
The introduction of new, tougher standards together with recent case law, point to a harsher, less forgiving approach to enforcement and larger fines for regulatory non-compliance and failings in relation to environmental and social governance.European law firm Fieldfisher has observed a notable uptick in enquiries from mining clients on how to comply with increasingly strict standards on environm...Read More
Gold hit a 1-month high against the greenback during yesterday's risk-off session. But given gold's strength is broad-based, we suspect its corrective low could be in. It’s constructive to see that gold’s breakout was broad-based and not just limited to the USD. Having created a gold basket by taking a simple average of gold versus FX majors, we note that the retracement...Read More
Highlights: Confirming Evidence of a continued rally: ECRI WLI is up 0.82% year over year. US stocks are in a positive trend relative to Gold (intermediate). Global stocks (FTSE all World with US) are in a positive trend relative to the risk free asset. Lumber rallied last week. Non-Confirming evidence of a continued rally: The ECRI four week average is still negative year over year (-1....Read More
Here Are 3 Hot Things to Know About Stocks Right Now Stocks ended sharply lower Monday after China said it would increase tariffs on as much as $60 billion worth of U.S. imports to as high as 25%. Apple (AAPL - Get Report) shares tumbled 5% as investors worried about the impact of China's tariffs on the tech giant. Teva Pharmaceuticals (TEVA - Get Report) slumped after attorneys ge...Read More
Stewart Thomsonemail: stewart@gracelandupdates.comemail: stewart@gracelandjuniors.comemail:admin@guswinger.comMay 14, 2019 The short seasonal rally for gold that typically follows India’s Akha Teej holiday (May 7 this year) is in play but this time it is being “juiced” by a major US stock market meltdown! In a game with nine innings, the US business cycle is probably in the eight...Read More
By: Michael J. Kosares, USA GoldThe Exter Inverted Pyramid of Global LiquidityCredit risk, liquidity and goldIn a recent edition of Credit Bubble Bulletin, Doug Noland, the long-time critic of contemporary monetary policy, writes about the odd times in which we live from a financial perspective. "Such a precarious time in history," he laments. "So much crazy talk has drowned out the reasona...Read More
By: Keith Weiner, Monetary MetalsWe have deviated, these past several weeks, from matters monetary. We have written a lot about a nonmonetary driver of higher prices mandatory useless ingredients. The government forces businesses to put ingredients into their products that consumers don't know about, and don't want. These useless ingredients, such as ADA-compliant bathrooms and supply chain trac...Read More
Before we get to looking at those three charts, let's talk about the trade war. On Friday the Trump administration made good on its threat to raise tariffs on as much as $200 billion worth of Chinese imports to 25 percent from the previous 10 percent. The president also said that a decision could be made soon on whether to impose the same 25 percent rate on an additional $325 billion of Chinese...Read More
Was it President Trump's intention all along that trade talks with China fail? That's the contention of 'Farmer,' a long-time subscriber who lives in Nairobi. He posted earlier today as follows in the Coffee House, a chat room that runs alongside the Rick's Picks Trading Room:"Just for perspective, the average dollar volume of imports being bought from Russia is only $18 billion during the pas...Read More
By: Dave KranzlerThe price of gold soared over $13 Monday as flight-to-safety money flowed into the precious metals sector while the stock market went into a downward spiral. I see Monday's market action as a preview of what's in store going forward as price discovery once again engulfs the stock market and causes the most extreme stock bubble in U.S. history to deflate.Despite the fact that it...Read More
By: Ira EpsteinGold's move yesterday really kicked it up into a new trend? Gold's strange chart:Read More
David Stockman appears on Cheddar TV Business (May 14, 2019)David Stockman is a former Republican congressman from Michigan and was President Reagan's budget director from 1981 to 1985. After leaving the White House, Stockman became a managing director at Salomon Brothers, and he later founded a private equity fund. David is the founder of David Stockman's Contra Corner, and he is the author of Th...Read More
Join Mike Maloney as he examines the latest moves in the US/China trade war, and visits some compelling arguments from the Foundation for Economic Education. To quote their article by Mark J Perry: "It's a scientifically and mathematically provable fact that all tariffs, at any time and in any country, will harm economic growth, eliminate net jobs, destroy prosperity, and lower the standard of liv...Read More
"When the Federal Reserve bank signaled that they were going to permanent quantitative easing, I said look, that's the bottom for bitcoin, that was about $3,200 on bitcoin, because they're making it clear now that there's going to be no accountability by the Fed. They're going to print ad infinitum, ad nauseum, there's going to be no rollback, no kind of attempt to balance their books." Max Keiser...Read More