BHP has lowered its iron ore production guidance and raised costs expectations for the 2019 financial year amid disruption to operations caused by a cyclone that hit the west coast of Australia last month.The miner expects its iron ore operations to produce 265-270 million tonnes (at 100% basis) in the 2019 financial year, down 4.6% from its earlier estimate of around 273-283 million tonnes. The l...Read More
A court decision has paved the way for Vale to completely resume operations at its 30-million-tonnes-per-year Brucutu mine, in Brazil's southeastern state of Minas Gerais.But the miner - the world's biggest iron ore producer - is maintaining its sales guidance for the steelmaking raw material despite this latest development, due to bad weather affecting production at its Northern System."The Minas...Read More
The state court of Minas Gerais (TJMG), in Brazil's southeastern region, partially suspended on Tuesday April 16 a previous injunction that was keeping Vale's Brucutu iron ore mine halted.The decision came after a request from the municipality of S??o Gon??alo do Rio Baixo, where the mine is located.The Brazilian miner shouldn't be prohibited from running the operations, as that could "severely hu...Read More
The latest ferro-tungsten and ammonium paratungstate (APT) transactions, bids, offers and assessments in Europe, Vietnam and China, with blue tungsten oxide (BTO) and yellow tungsten oxide (YTO) deals taken into consideration.To view the latest price assessments, please follow the links below: China - APT, fob China- Ferro-tungsten, fob China Europe - APT, cif Rotterdam- Ferro-tungsten, in-warehou...Read More
The Nasdaq-100 closed at a new record high, thoughStocks started the day higher thanks to positive Chinese economic data and tech sector strength. However, markets swung lower as the healthcare sector continued to sell off on potential policy changes taking place in Washington D.C. Negative earnings reactions for heavyweights IBM (IBM) and Netflix (NFLX) only stoked the bearish flames, with the Do...Read More
BofA believes Aurora and Canopy Growth could do well in the global cannabis marketsOne of today's most notable headlines from Wall Street came out of BofA-Merrill Lynch, which initiated coverage on marijuana stocks Aurora Cannabis Inc (NYSE:ACB) and Canopy Growth Corp (NYSE:CGC) with "buy" ratings. Aside from the bullishness of the note, it's also noteworthy because so few Wall Street firms have y...Read More
Take advantage of the first amendment, and participate in a nation-wide poll.With the 2020 election growing ever closer, the country continues to be divided politically.From disputes about the appropriateness of displaying the Confederate flag, to rights for minorities, and the ever-growing concern about security at the U.S. border, the 2020 election promises to be contentious... if not the most c...Read More
This new book is a must-read for the business-minded.A shocking new book is making its way through the academic, financial, and economic circles in America.According to one interview, it even became the #2 book in all of China!This book has become so popular because it identifies a big change in the U.S.'sfuture... which could inevitably lead to the fall of several of the most powerful tech compa...Read More
The outlook for domestic prices for hot-rolled coil (HRC) in Europe remained negative, although they have been largely stable in the week ended Wednesday April 17, sources have told Fastmarkets.Domestic HRC prices in Europe have been under pressure from limited trading activity and they were expected to gradually decline, according to market participants."The market is showing a trend in a negativ...Read More
How you can transform lagging indicators into leading indicators.Many traders are tired of repeating the same mistakes over and over again, but are unsure how to break the cycle of bad decisions that lead to mediocre, or even poor results.And even the supposed "market gurus" or "experts" don't have the answer... or if they do, it's "all flash and no substance."But there is a REAL solution.While ot...Read More
By: IRA EPSTEINRead More
Both names are seeing heavier-than-usual options activityThe U.S. equities market is struggling for direction this afternoon, as Wall Street weighs a fresh round of corporate earnings. Among individual stocks making notable moves are pharma name Ionis Pharmaceuticals Inc (NASDAQ:IONS), health insurance website eHealth, Inc. (NASDAQ:EHTH), and healthcare services provider Tenet Healthcare Corp (NYS...Read More
Copper's three-month price on the London Metal Exchange climbed above $6,600 per tonne at the close of trading on Wednesday April 17, buoyed by strong GDP figures out of China while a softer dollar index below the psychological level of 97 supported afternoon buying.Volumes traded in the red metal reached their highest level since March 22 over the day, with more than 24,000 lots changing hands by...Read More
One trader seems to have executed a short put spread todayThe shares of Expedia Group Inc (NASDAQ:EXPE) are down 1.3% to trade at $124.50 today, after United Continental (UAL) announced it will pull its fares from the site later this year. Expedia and United have been battling in the courtroom, with a federal judge earlier this month rejecting the former's request for an injunction that would hav...Read More
BofA-Merrill Lynch just initiated coverage with an "underperform" ratingWhile several pot stocks have gotten a serious boost on BofA-Merrill Lynch's latest note, sector peer Cronos Group Inc (NASDAQ:CRON) has not fared so well. The analyst just initiated coverage with an "underperform" rating and a $13 price target -- a 17.7% discount to yesterday's close. The broker said it was uncomfortable with...Read More
Put volume has already hit an annual high on the healthcare ETFIt's been a brutal week for healthcare stocks, as traders head to the sidelines on concerns about potential policy changes out of Washington, D.C., including a "Medicare for All" bill from Sen. Bernie Sanders of Vermont. The sector-wide sell-off is nowhere more evident than in theHealth Care Select Sector SPDR ETF (XLV), which is on pa...Read More
Along with 25 names to beware of Markets are closed at the end of this week for Good Friday, as many get ready to celebrate Easter over the weekend. So, it's a good time to see how stocks have tended to perform around the holiday. Also, I found an interesting stat on what Easter means for the rest of the year, and finally, I'll list the best and worst stocks in the week following Easter.Stocks Per...Read More
Chinese nickel premiums strengthened on Tuesday April 16 due to optimism that the import window will open, while the European nickel briquette premium softened on bearish sentiment. Chinese premiums strengthen ahead of import window opening European briquette premium slides on bearish sentiment US premiums hold firm, retain previous gains Chinese premiums rise to meet import window open...Read More
The two names are flashing reliably bullish signalsThe U.S. stock market has put in a strong performance this month, with the S&P 500 Index (SPX) pacing toward a 2.3% April gain. The retail sector, in particular, has been a pocket of strength, as evidenced by a 1.2% month-to-date advance for the SPDR S&P Retail ETF (XRT). And if history is any indicator, retail stocks Gap Inc (NYSE:GPS) and Boot B...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday April 17 that are worth another look.Precious metals prices would support zinc and lead mining even if the global markets crashed, including those for base metals, panelists said at Fastmarkets' International Lead & Zinc Conference in London on Tuesday April 16. Copper's three-month price on the London Metal Exchange...Read More