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 gold price tends to rise in times of crisis, but according to Frank Holmes, CEO and chief investment officer at US Global Investors, the yellow metal has the potential to go much higher even without a major calamity.Speaking at the Denver Gold Forum, Holmes explained that worldwide money printing triggered by attempts to stimulate economic activity could lead to a substantial gold price increa...Read More
Key data from the pricing sessions in China, Europe and the United States for the week ending Friday September 27. Europe The high carbon ferro-chrome price dropped at the top end of the current range after reports of deals done below that range, although most sources reported quiet business conditions.The market is expected to be relatively quiet ahead of the fourth-quarter European charge and h...Read More
Stainless steel prices in Europe have remained stable for a second week but increases will be inevitable next week because of higher October alloy surcharges, sources told Fastmarkets on Friday September 27.Because of high nickel prices in recent weeks, it was expected that some European stainless steel mills this week would announce monthly alloy surcharges for October at substantially higher lev...Read More
Stocks dropped amid reports Trump could delist Chinese firms from U.S. exchangesThe Dow finished the week on a gloomy note, logging a modest loss amid the latest U.S.-China trade drama. The blue-chip index started off in the black, but ultimately turned lower after a Bloomberg News report signaled the Trump administration is considering limiting capital flows to China, including possibly delistin...Read More
There are some reasons to believe the market volatility could continueWhile it's likely an overused phrase, it truly was a wild week on Wall Street, thanks mostly to the inquiry into impeaching President Donald Trump. That wasn't the only market-moving headline out of Washington, D.C., however. Throughout the week traders were met with updates on the U.S.-China trade relationship, and even though...Read More
A Bloomberg report said the U.S. is considering delisting Chinese firms from U.S. stock exchangesStocks have erased early gains on a report from Bloomberg that U.S. President Donald Trump is considering limiting capital flows to China, including potentially delisting Chinese companies from U.S. stock exchanges. This news is rocking Chinese stocks including e-commerce name JD.Com Inc (NASDAQ:JD). S...Read More
Citron thinks MCK stock could be cut in halfMcKesson Corporation (NYSE:MCK) stock is trading lower today, after the Texas-based pharmaceutical firm became the target of Citron Research. In a report titled, "The Two Words That Will Wipe Out Half of McKesson's Equity -- 'Public Nuisance'," the short seller called the company "complicit in fueling the opioid crisis," and said recent court documents i...Read More
LTM call volume is running at more than 600 times the normal clipThe shares of LATAM Airlines Group SA (NYSE:LTM) are among the best of the New York Stock Exchange (NYSE) today, after Delta Air Lines (DAL) took a 20% stake in the Latin American carrier for $1.9 billion. As such, LATAM ended its partnership with American Airlines (AAL), and Delta is selling its stake in Brazilian carrier Gol Linhas...Read More
SFIX will report earnings after the close on Tuesday, Oct. 1As earnings season starts to pick up again, online stylist Stitch Fix Inc (NASDAQ:SFIX) will be one of the first companies to step up to the plate, set for its fiscal fourth-quarter report after the close this Tuesday, Oct. 1. Ahead of the event, SFIX is struggling today -- down 1.7% to trade at $18.49 at last check -- after a fresh bea...Read More
The interplay between gold and silver is a critical component to understanding what is out ahead; to understanding whether long-term Treasury yields will rise and if they rise, whether it will be due to inflationary pressures. It is a critical component to understanding whether cyclical commodities and other aspects of a greater inflation/reflation trade will finally break existing downtrends. See...Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 370,39357,94961,489163,585508,730595,467628,168 Change from Prior Reporting Period 28,882-963-3,89357727,32325,56622,467 Traders 22068775253299174 Small Speculators LongShortOpen Interest 63,47730,776658,944 2,3885,48727,954 non reportable...Read More
The gold miners' stocks have largely ground sideways in the last couple months, consolidating their big mid-summer gains. That drift is slowly bleeding away greedy sentiment, but this sector remains really overbought. Gold stocks' dominant driver gold is even more overbought, and still facing a massive gold-futures-selling overhang. This makes October, gold stocks' weakest month seasonally...Read More
By: Ira EpsteinGold daily chart: sideways market. Should gold get under $1,492, this market could get very ugly, very fast. If it doesn't do that then what?Read More
By: Gary SavageThe Odds Are Very High That the Daily Cycle Has ToppedRead More
We've been monitoring Apple shares closely because they look very likely to rise at least 10% above their current $220 price before bulls are spent. AAPL is a powerful engine for the bull market, and a big rally in the stock would all but ensure that the broad averages get dragged higher or at least remain buoyant. The chart shows another reason why it may be premature to bet against the aging...Read More
Micron's results are weighing on the entire tech sectorThe Dow Jones Industrial Average (DJI) was eyeing a strong close to the week, thanks to confirmation that the U.S. and China are set to meet for trade talks next month. However, the blue-chip index has since pared the bulk of these earlier gains, after a Bloomberg News report suggested the Trump administration is considering limiting capital f...Read More
The analyst thinks Atara Biotherapeutics stock could sink 34% The shares of drugmaker Atara Biotherapeutics Inc (NASDAQ:ATRA) are hurting today, following a scathing bear note from Goldman Sachs. The analyst downgraded the stock to "sell" from "neutral," and slashed its price target to $9 from $14 -- a roughly 34% discount to last night's close. Goldman cited Atara's lack of near-term catalysts an...Read More
Short interest dropped drastically during the most recent reporting periodDrugstore name Rite Aid Corporation (NYSE:RAD) is quickly erasing yesterday's post-earnings gains, 8.4% lower at $7.17 at last check. Today's pullback is far from unusual for the shares, however, with the stock within one standard deviation of a key trendline -- one which holds historically bearish implications. Specifical...Read More
Despite evidence of a slowing economy, shipments of rawmaterials are gliding across Chinese docks at a torrid pace, especially metals,which form the backbone of China’s industrial supply chain. In fact a recent report shows that, while Chinese importsare down 5% compared to last year, and the trade war is hitting China’smanufacturing sector, imports of raw materials and ores “con...Read More