PerkinElmer just landed on Goldman Sachs' conviction list The shares of diagnostics specialist PerkinElmer, Inc. (NYSE:PKI) are headed for their third day in the black, after landing on Goldman Sachs' conviction list earlier today. The brokerage firm also upgraded PKI to "buy" from "neutral," and lifted its price target to $115 from $92. Evercore ISI chimed in, too -- hiking its price target to $9...Read More
The U.S. is threatening to put tariffs on $11 billion of EU productsStocks are poised for a lower open, with traders on edge after the U.S. threatened to take action against the European Union (EU) in response to its subsidies for Airbus. In a tweet this morning, President Donald Trump said the World Trade Organization found the subsidies "adversely impacted the United States, which will now put T...Read More
Gerald Reichmann has been appointed the new chief executive officer of British Steel, the UK long steel producer said on Friday April 5.Reichmann joined British Steel in November 2017 as chief financial officer. He was previously the managing director at Austrian steelmaker Voestalpine's wire technology division.Reichmann also briefly served in the role of British Steel's deputy CEO from January 2...Read More
The online retail giant is trading near a $900 billion market capShares of Amazon.com, Inc. (NASDAQ:AMZN) last Friday set a new year-to-date high of $1,838.58, as the mega-retailer capitalized on a pair of well-received media reports. First, traders priced in relief after learning that CEO Jeff Bezos would retain 75% of his stock in the company under the terms of his divorce, while maintaining sol...Read More
By: Clint SiegnerThe gaggle of socialist candidates vying to win the Democratic nomination for president all agree on one thing. They believe government should be doing a lot more.Just how to pay for all of those dreams is the question. Modern Monetary Theory (MMT), we are told by the likes of Alexandria Ocasio Cortez, is the answer.The New York Times describes MMT as a "package of eccentric i...Read More
By: IRA EPSTEINGold breaks the downtrend, stalls at 18-DMA..Read More
StrengthsThe best performing metal this week was platinum, up 6.07 percent. Platinum is set for its biggest weekly advance in two years, as its wide discount to sister metal palladium creates interest for the metal. Bloomberg writes that traders are also weighing the potential for labor disruptions in South...Read More
By: RambusIn part two of the Quarterly Report I'm going to update some long term charts for some of the world stock markets. As you will see many have formed massive ten plus year consolidation patterns similar of what we observed in the first installment of the Quarterly Report which are similar in duration to many of the US stock markets. It's these big multi year consolidation patterns that a...Read More
Considering the dour outlook for Q1 earnings, the stock market's exuberant run-up over the last month feels like Tennyson's Charge of the Light Brigade: "Into the valley of Death rode the 600...' And yet, we know from watching the shares of Boeing, Apple (see chart inset) and Facebook go vertical into a steady stream of negative news concerning each that Wall Street's '600' really don't give...Read More
Trump is now threatening European Union with new trade tariffs. The move is just to support Boeing as its rival Airbus is getting more orders after a Boeing latest plane crashes. A steady decline and decay in the USA-European Union relation is happening as a result of Trump's bully attitude. Gold will rise. European Union will also reduce dependence on American exports and diversify as a counter...Read More
The Norwegian government has granted a mining concession for the Sydvaranger Iron Ore Project, paving the way for concentrates shipments to recommence in 2020.Owned by the Tschudi Group - a Norwegian shipping and logistics company - the Sydvaranger project consists of several high-grade magnetite iron deposits with indicated resources of 475 million tonnes and inferred resources of 43 mi...Read More
India's Adani Enterprises has taken a step closer to the construction of a controversial thermal coal mine in Australia after winning federal government approval for its groundwater management plan.Adani wants to develop the Carmichael coal deposit in Queensland state, but has faced fierce environmental resistance that has turned the project into a political hot potato ahead of a federal election...Read More
A summary of base metals premiums from across the globe for the week to Tuesday April 9.Please click...Read More
Base metals prices on the London Metal Exchange were mostly lower at the close of trading on Tuesday April 9, with a dip in the dollar index below the psychological level of 97 doing little to prompt rallies, while stock inflows continue push prices lower. Despite trading comfortably above $6,500 per tonne for much of the day, copper's three-month price closed $13 per tonne shy of the psychologica...Read More
The Turkish steel mills continued to show minimal interest in deep-sea scrap purchasing on Tuesday April 9, with only one transaction heard so far this week, sources said.Some market participants had expected the mills to resume their deep-sea purchases at the recent International Rebar Producers & Exporters Association conference (Irepas 80), which took place in Barcelona on April 7-9.A...Read More
Lithium and cobalt companies are a hidden gem in the mining sector. Lithium and cobalt, along with nickel, are the primary metals used in most modern batteries.42% of the world's cobalt production goes toward the creation of Lithium-ion cell batteries.According to the Cobalt Institute, lithium-ion batteries have higher energy density than other battery types and are used in laptops, smartphones, m...Read More
China's central bank demand for gold supports bullish interim trend.Only the strong dollar stands in the way of a spring gold rally.Gold stock internal momentum could use some major improvement.Increased gold demand from China is making an upside breakout in the gold price later this spring a very real possibility. That's the conclusion from the revelation this week that China's central bank h...Read More
Prices for imported steel billet in the United Arab Emirates increased this week in the latest deals heard, while rebar prices remained stable, sources told Fastmarkets on Tuesday April 9.Domestic rebarLocal rebar producers in the UAE kept their prices unchanged for May production, with demand expected to remain weak because the Islamic holy month of Ramadan starts early in that month.Observance o...Read More
Source: Michael J. Ballanger for Streetwise Reports 04/08/2019Precious metals expert Michael Ballanger discusses movements in the gold and silver markets in the last week, as well as two companies on his radar screen.The past week was an exercise in total lockdown for both gold and silver as the price managers have succeeded, at least for now, in herding investor behavior into a cacophony of c...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday April 9 that are worth another look.Among the key talking points across the battery raw materials markets ahead of Fastmarkets' second annual Battery Materials Conference this week in Shanghai include the outlook for China's cobalt metal imports, cobalt hedging appetites, whether a shift to nickel-rich cathode chemistr...Read More