Gold has big year in 2020 and outlook for this year robust. Learn about monetary expansion and gold future prices.Read More
The gold futures price reached US$1,767/ounce this week before retreating, which was the second time it has surpassed US$1,760 in the past two months, marking some of gold's highest levels in several years.Read More
Today's huge trade could be a hedge It's turning out to be a down day for drug stocks, as the SPDR S&P Biotech ETF (XBI) trades down 1.8% at $79.43. In the meantime, one options trader is putting their money behind a three-way bearish trade, initiating a put spread with 10,000 contracts of the March 69 and 81 puts, while selling 5,000 at the March 85 call to help fund their endeavor. The put sprea...Read More
- David Attenborough warns Davos summit - 'The Garden of Eden is no more'- "If we wreck the natural world, we wreck ourselves" warns Attenborough- If we destroy our environment, it will badly impact our economies and markets- We must put the environment at the heart of our financial and monetary systems- "Future proof" our economies, our currencies, our finances & our pensions with gold- Hop...Read More
Gold and silver are steady. Trump's top economic advisor is looking for commitments from China for a trade deal. Uncertainties over a trade deal will prevent gold from a big sell off. Right now the trend in gold is neutral. Silver needs to trade over $1500 to be in a bullish zone. Day traders are on the sidelines. Long term investors are using sharp dips to invest in gold. Some large fund manage...Read More
Amazon.com is considering offering lower delivery feesStocks are mixedtoday, as traders weigh strong blue-chip earnings against lingering concerns about theglobal economy. Among those struggling are electric car name Tesla Inc (NASDAQ:TSLA) and logistics stock United Parcel Service, Inc. (NYSE:UPS), while cybersecurity specialist FireEye Inc (NASDAQ:FEYE) is higher. Below, we'll take a look at w...Read More
As a member of the British parliament in 1999, Sir Peter Tapsell, who passed away this past August, argued vigorously to keep the government from selling off over half of the country’s gold reserves. Previously, in the 1980s, Tapsell had managed a gold bullion fund, “valued at many hundreds of millions of dollars for the Sultan of Brunei, Sir Omar Saifuddin” – at the time o...Read More
The number of drilled but uncompleted wells (DUCs) in the U.S. shale patch has skyrocketed by roughly 60 percent over the past two years. That leaves a rather large backlog that could add a wave of new supply, even if the pace of drilling begins to slow.The backlog of DUCs has continued to swell, essentially uninterrupted, for more than two years. The total number of DUCs hit 8,723 in November 201...Read More
Iranian billet and slab producers continued to reduce their export prices to try and attract customers put off by US trading sanctions.The number of foreign buyers willing to deal with shipments from Iran has steadiliy decreased since the implementation of sanctions by the United States in August 2018. In Gulf Co-operation Council Countries (GCC), and in the UAE in particular (which used to be one...Read More
Several travel names will report earnings tomorrow morningEarnings season is underway, with the airline sector getting set to take its turn in the limelight. Among those on tap to report are American Airlines Group Inc (NASDAQ:AAL), JetBlue Airways Corporation (NASDAQ:JBLU), and Southwest Airlines Co (NYSE:LUV), and the options market is expecting outsized earnings reactions for each travel stock....Read More
Kerrisdale Capital thinks Qualcomm's value could be cut in halfQualcomm, Inc. (NASDAQ:QCOM) is trading down 2.7% at $52.81 following a short seller report out of Kerrisdale Capital, which suggested the stock could fall 50%. Kerrisdale called out the regulatory risks facing Qualcomm, particularly its licensing business, predicting the company will lose its legal battle against the Federal Trade Co...Read More
Delays began to form at the London Metal Exchange's warrant depository this week after large amounts of warrants were being cancelled, sources told Fastmarkets MB.There were delays of up to five hours at the depository on Tuesday January 22, market sources said. As a result, the LME closed the depository early due to a backlog and stopped accepting further cancellations, a second source said.The L...Read More
Traders are concerned about economic growth The Dow Jones Industrial Average (DJI) was up nearly 300 points earlier, riding a trio of solid blue-chip earnings. However, the Dow has pared its gains amid lingering concerns about the global economy, U.S.-China trade relations, and the U.S. government shutdown. Meanwhile, the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) have turned lower at midda...Read More
Atlassian stock nabbed a post-earnings record high last weekAtlassian Corporation PLC (NASDAQ:TEAM) started the new year off on the right foot, nabbing a record high of $100 on Jan. 18 in the wake of an upbeat quarterly report. While a pullback has since ensued, if past is precedent, the collaborative software stock could be due to revisit those record highs in the coming weeks. Specifically, TE...Read More
The activist investment firm sees 50% downside risk for DOXThe shares of Amdocs Limited (NASDAQ:DOX) are getting crushed this morning, after short seller Spruce Point Capital Management weighed in on the software concern. Specifically, the firm sees up to 50% downside risk in DOX shares, calling them a "strong sell" due to shady financials and accounting practices. The report claims Amdocs "has en...Read More
An overdue round of bull notes could create tailwinds for MTCHDating services stock Match Group Inc (NASDAQ:MTCH) has broken out of a technical downtrend, and now sits above its second-quarter highs from 2018. The shares recently pulled back to their 10-month moving average, a trendline with historically bullish implications. More specifically, two prior pullbacks to this support level have yielde...Read More
Zinc futures on the London Metal Exchange led gains at the close of trading on Wednesday January 23 with its three-month price continuing to trade above $2,600 per tonne, while the rest of the complex trends higher against a softer dollar index. After a fresh cancelation of more than 22,000 tonnes resulted in most of European LME zinc's stock - principally held in LME-listed warehouses in Rotterda...Read More
Tin premiums in Europe, the United States and China remained flat in the week beginning Monday January 21, amid continued uncertainty about delays to exports from Indonesia, while a lack of spot market activity, higher prices and a wide backwardation continued to deter investment in the tin sector. European tin participants' concerns mountUS markets beginning to feel supply pinchChina quiet ahead...Read More
There is room for more upgrades on the drug stockThe shares of Teva Pharmaceutical Industries Ltd (NYSE:TEVA) are up 2.3% to trade at $19.19 this morning, after UBS raised its outlook on the drugmaker to "buy" from "neutral," while upping its price target to $24 from $23. The analyst in coverage called the stock "too cheap to ignore," and lauded the company's upcoming new launches. It's been...Read More
Walmart dropped its lawsuit against the financial firmThe shares of Synchrony Financial (NYSE:SYF) are up 10.7% at $29.40 in early trading, after the company's fiscal fourth-quarter earnings exceeded analyst expectations. Plus, Walmart (WMT)dropped its lawsuit against the consumer lending concern, and Synchrony extended its strategic partnership with Walmart-owned Sam's Club. Today, SYF stock is...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday January 23 that are worth another look.The London Metal Exchange's warrant depository has begun to show delays after large amounts of warrants were canceled, sources told Fastmarkets MB. More than 130,000 tonnes of aluminium was freshly canceled on the exchange over the past two days, with traders expecting...Read More
Morgan Stanley lifted its rating and price target on WMTThe shares of Walmart Inc (NYSE:WMT) are trading up 1.7% at $99.08, after Morgan Stanley upgraded the Dow stock to "overweight" from "equal weight," and raised its price target to $110 from $107. Analyst Simeon Gutman waxed optimistic over WMT's "unprecedented commitment to cost control," and said it expects Walmart U.S. to "be one of the few...Read More