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
The March 57.50 call and put are BMY's most active options todayIt's been a volatile stretch for Bristol-Myers Squibb Co (NYSE:BMY), per the stock's 60-day historical volatility of 40.5%, which registers in the 90th annual percentile. Today, one options trader appears to be initiating a long straddle, betting on this wild price action to continue in the near term.Most recently, roughly 150,000 cal...Read More
Jefferies reiterated its Street-high CPRI price target earlierCapri Holdings Ltd (NYSE:CPRI) stock is hot today, after Jefferies added the Michael Kors parent to its "Franchise Picks" list. The brokerage firm said it believes the shares could double -- and reiterated its Street-high $89 price target -- on strong long-term pricing power from the retailer's Jimmy Choo and Versace brands. At last che...Read More
Steel slab export prices from Brazil inched up in the week ended Friday March 1 because of lower volumes available and an uptrend in steel prices in the United States.Fastmarkets' weekly assessment of Brazilian slab export prices reached $500-540 per tonne fob on March 1, up from $490-530 per tonne fob a week earlier.The assessment was at its highest level since September 7, 2018, when prices were...Read More
The time to invest is now, according to one economist.The man who warned of the 2001 tech crash, the 2008 subprime financial disaster and oil's shocking fall in 2016 - years before they happened - has issued a new earth-shattering statement:"Right now, the markets are giving investors a critical window to rapidly boost their retirement savings before the greatest stock market crash in American his...Read More
Domestic prices for rebar in Poland have been supported by strong demand this week, sources told Fastmarkets on Friday March 1.Fastmarkets' price assessment for domestic 12mm B500B-grade rebar in Poland was 2,200-2,320 zloty ($581-613) per tonne ex-works on March 1, compared with 2,220-2,320 zloty per tonne ex-works a week earlier.The assessment reflected deals and offers heard in the market. Alth...Read More
ALLY just pulled back to a historically bullish trendline Ally Financial Inc (NYSE:ALLY) stock has been in rally mode of late -- up roughly 30% from its Dec. 26 low of $20.61. The consumer lending concern is now directly below its year-over-year breakeven and testing a familiar ceiling at the $27.50 area. However, ALLY just sent up a bullish signal that, if history is any indicator, could point t...Read More
Global steel scrap prices began to edge up in Turkey this week while other key markets continued to lose ground, Fastmarkets heard during the week ended Friday March 1.Turkey succeeded in recovering some of its recent losses in new bookings, but these remained sparse and mills were still reluctant to enter the market. The US market continued to stagnate while prices in Asia edged down further due...Read More
March is starting on a positive note for stocksA tame reading on the Fed-watched personal consumption expenditures (PCE) index and hopes for a U.S.-China trade deal have marketscautiously higher this afternoon. However, lackluster data on U.S. manufacturing and consumer sentiment are keeping stocks' gains in check. The Dow Jones Industrial Average (DJI) and S&P 500 Index (SPX) are in the black a...Read More
SQ just pulled back to a trendline with bullish implicationsSquare Inc (NYSE:SQ) had a roller-coaster earnings reaction yesterday, falling to $74.57 at its session low, only to erase those losses and close up 2.4% at $81.24. Although the stock is down 3.5% to trade at $78.08 today, it is trading near a trendline that has historically bullish implications.More specifically, Square stock is trading...Read More
The satellite operator also reported weak quarterly results and a dividend cutThe shares of Maxar Technologies Inc (NYSE:MAXR) are down 23.4% at $5.60, after the space technology firm said it was cutting 4% of its workforce -- more than 200 positions -- as part of a broader restructuring plan. The company also reported weak fourth-quarter results, lowered itsdividend payment, and said it's restruc...Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 254,086108,43953,521146,161312,638453,768474,598 Change from Prior Reporting Period 39,916-857133-13,51526,85126,53426,127 Traders 21872684755291173 Small Speculators LongShortOpen Interest 50,87130,041504,639 2,0222,42928,556 non reportable positionsChan...Read More
The gold miners' stocks have been climbing higher on balance, enjoying a solid upleg that is gathering steam. That's fueling improving sentiment, driving more interest in this small contrarian sector. This gold-stock upleg is likely to grow in coming months, partially because of very-favorable spring seasonals. The gold stocks' second-strongest seasonal rally of the year typically unfolds...Read More
It's hard to believe, but the year 2019 is already about 15% in the books. So, with two months behind us, perhaps it's a good time to check in, assess what we've accomplished thus far in COMEX gold and silver, and then look ahead to what's coming as the year progresses.The focus of this post is to update our primary forecasts from December and January. These were each posted at Sprott Money an...Read More
(I wrote here earlier that a public-pension bust is coming that will usher in the Second Great Depression. Could California, Illinois, Connecticut, New Jersey et al. avoid disaster by raising taxes? That's what John Jay, a regular contributor to the Rick's Picks forum, thinks they will do. I strongly doubt it, however, since there is no way the revenuers will be able to squeeze blood from a s...Read More
By: IRA EPSTEINBig volatility can create no volatility for a while, everyone worn out. Gold in a correction phase, nothing bearish looking on the weekly chart.Read More
Gap said it will separate from its Old Navy businessThe shares of Gap Inc (NYSE:GPS) are up nearly 17% at $29.68 in this morning's trading, pacing toward their biggest one-day gain since Nov. 21, 2008, when they popped 27.2%. The surge comes after the company reported a fourth-quarter earnings beat -- though revenue fell slightly short of the consensus estimate -- and revealed plans to spin off i...Read More
Ahead of Fastmarkets' Battery Materials 2019 conference in Shanghai, Fastmarkets looks at use of lithium in next-generation vehicles and other battery uses, as well as soaring prices, which have spurred interest in lithium and boosted its importance in recent years as a battery material. In June 2016, the spot price in China peaked at $27 per kg, more than three times the global contract price, ac...Read More
Is it time to prepare for the next financial crisis?Something strange is going on in the financial system.And according to The Wall Street Journal, it's causing some investors- including the biggest banks in the world- to move massive amounts of money out of the banking system.What exactly is going on?Former hedge fund manager, Dr. Steve Sjuggerud, one of the most widely-followed financial analys...Read More
VMW had only three negative closes in FebruaryVMware, Inc. (NYSE:VMW) is a hot stock on Wall Street right now. The security is up 5.5% to trade at $181.25, and earlier nabbed a fresh record high of $183.41, afterthe virutalization name reported fourth-quarter earnings and revenue that exceeded analyst expectations. Six price-target hikes have already come in, including one to $203 from $196 at Jef...Read More
Gold's rally has eased somewhat so far in February after a strong January.Net long positions in Comex gold are a little down in the year to February 12, the CFTC shows.ETF investors took profit for a third straight week.With the US business cycle approaching its end (~90% complete, according to SG), monetary demand for gold should increase notably in the course of 2019. Cycle 2, Bac Cam (Saatchi A...Read More