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
Home Depot and Macy's are just two of the retailers reporting earningsThe last week of February will be jam-packed with virtually everything Wall Street has to offer. There's important economic data to digest, like the latest fourth-quarter gross domestic product (GDP) estimate, and several Fed speakers will take the mic, including Fed Chair Jerome Powell, who will give his semi-annual testimony b...Read More
There is an old Yiddish expression called a bubbe meise (pronounced my-seh). I guess the closest English interpretation of this expression would be a grandmother’s tale, or in the common vernacular, an old-wives' tale.Of late, I am seeing a bubbe meise about the importance of central bank buying of gold, and it is making its rounds on websites all over the internet.We have been hearing for m...Read More
The weekly 2/22 327.50-strike put is popular todayBiogen Inc (NASDAQ:BIIB) stock is sinking, after Stifel downgraded it to "hold" from "buy," and cut its price target by $51 to to $346. The brokerage firm expressed concern over BIIB's Alzheimer's drug after Roche Holding ended late-stage trials for similar treatments targeting beta-amyloid last month, as well as a patent review for its multiple sc...Read More
The market for pig iron exports from the Commonwealth of Independent States (CIS) remained strong but restocking activity slowed down during the week ended Thursday February 21, sources have told Fastmarkets.Fastmarkets' price assessment for CIS exports of high-manganese pig iron was $335-340 per tonne fob Black Sea on February 21, unchanged week on week.Only small bookings to trading companies we...Read More
Existing home sales hit a three-year low in JanuaryThe Dow Jones Industrial Average (DJI) is pulling back today, down triple digits amid pressure from Johnson & Johnson (JNJ) and a round of dismal economic data. Among the onslaught of data points are existing home sales, which plunged to a three-year low in January, and the IHS Markit flash manufacturing purchasing managers index (PMI), which fe...Read More
This news follows a damning Reuters report from DecemberThe shares of Johnson & Johnson (NYSE:JNJ) are down 1% at $135, at last check, after the consumer products giant said it received subpoenas from the U.S. Department of Justice and Securities Exchange Commission (SEC) in relation to litigation over alleged asbestos in its talc-based products, including its Baby Powder brand. This follows a dam...Read More
Base metals prices on the London Metal Exchange were mixed at the close of trading on Thursday February 21, with strong afternoon performances in the prices of three-month aluminium, tin and lead amid a slowdown in copper and nickel activity.The three-month aluminium price climbed by 2% over the afternoon to reach its highest point since February 7, while a fresh cancelation of more than 17,000 to...Read More
Domestic prices for heavy steel plate in Europe have moved up over the past week due to higher costs for steel slab, market sources told Fastmarkets on Thursday February 21.Although demand remained rather slow, the steelmakers - particularly re-rollers in Southern Europe - had to increase their prices for plate, market participants said.Fastmarkets' weekly price assessment for domestic grade-S235J...Read More
The pizza chain reported disappointing same-store sales growthThe shares of Domino's Pizza, Inc. (NYSE:DPZ) are down 9.5% at $252.13 in early trading, after the restaurant concern reported earnings and same-store sales growth that fell short of analysts' estimates. The company cited competition from both food delivery services and other pizza companies as reasons for the miss. Today, DPZ stock is...Read More
With the vast majority of the world's diamonds estimated to be conflict-free following the development of certification procedures under the Kimberley Process, the mining industry is now developing a blockchain-based solution to track the supply chain of the precious stones. The industry still faces challenges from insurance fraud, the financing of global pipelines and the tampering of official ce...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday February 21 that are worth another look.Canada has established surtax-free quotas for imports of energy tubular products and wire rod originating from Mexico effective from February 2, an official from Canada's Ministry of Finance said.French mining and metallurgy company Eramet generated lower operating income f...Read More
FL stock is signaling a positive start todayAhead of its fourth-quarter earnings report, due before the market opens next Friday, March 1, Foot Locker, Inc. (NYSE:FL) unveiled its 2019 capital allocation plans, which include a 10% quarterly dividend hike and a $1.2 billion share buyback plan. In reaction, FL is trading up 2.3% ahead of the bell -- set to open in territory not seen since May 2017,...Read More
We're seeing mixed messages around EA's new "Anthem" gameIt's been an extremely volatile stretch for the shares of video game maker Electronic Arts Inc. (NASDAQ:EA), as they made a sharp rebound from their post-earnings lows near $80 earlier this month thanks to the exceptional reception around its "Apex Legends" game. By the numbers, the equity's 30-day historical volatility has moved up to 88.4%...Read More
Williamson is considered the biggest college star todayThe shares of Nike Inc (NYSE:NKE) are under pressure this morning, down 1.6% in electronic trading in the wake of a sneaker malfunction for the ages. Zion Williamson, the star freshman for Duke's basketball team and likely number one pick in the upcoming NBA draft, suffered a knee injury yesterday in a rivalry game against North Carolina, aft...Read More
Traders will also continue to monitor U.S.-China trade talksDow Jones Industrial Average (DJI) futures are slightly lower today, as Wall Street begins to digest an onslaught of economic data. So far, traders are reacting to the latest data on durable goods orders, with orders for core capital goods unexpectedly falling in December. In addition, the four-week moving average of weekly jobless claims...Read More
By Avi Gilburt, ElliottWaveTrader.net There is an old Yiddish expression called a bubbe meise (pronounced my-seh). I guess the closest English interpretation of this expression would be a grandmother's tale, or in the common vernacular, an old-wives' tale.Of late, I am seeing a bubbe meise about the importance of central bank buying of gold, and it is making its rounds on websites all over the i...Read More
By: Ira EpsteinGold continues to trend with lower-lows, higher-highs. In a resistance area. The gold market is overbought. Gold stocks - $GDX - also back up into upper resistance and overbought as well. That does not mean in a downtrend...Read More
By: Ross Norman, Sharps PixleyGold's relative strength indicator is at the 73, highest since September 2011 - the month that gold hit an all-time high. This may suggest that gold is technically "overbought" just now, but it is also at a level we saw regularly back in the early 2000's when gold was starting a bull run with a 16% year on year increase, well before the Global Financial Crisis.There...Read More
AAPL, not long ago the one true love of fund managers, has been a conspicuous laggard since the broad averages trampolined off December's lows. It is only in retrospect that we can see how they might have contrived, albeit with only modest success, to ignore the stock's big problem, which is that the company's ridiculously overpriced phones are poorly positioned to compete against increasingly a...Read More
A simple way to stop picking losers, and start cashing in like Wall Street's elite.Most traders would never believe that 9 out of 10 trades could be winners.But while it may sound impossible, thanks to a research breakthrough, it may not be as far-fetched as many think.JPMorgan's trading desk produced a 99.52% win rate from 2013 through 2017. That includes 2 straight years without a losing day....Read More