The Nasdaq is extending its streak of record intraday highsThe Dow Jones Industrial Average (DJI) is still reeling from 3M's (MMM) major earnings miss. The index has lost almost 175 points at midday, despite new record highs from both Microsoft (MSFT) and Disney (DIS). The Nasdaq Composite (IXIC) continues to flourish, however, on an earnings beat from Facebook (FB), and once again touched a new...Read More
Merck and Pfizer will also reportCertain to grab headlines next week will be the highly anticipatedearnings from FAANG members Alphabet (GOOGL) and Apple (AAPL). In addition, blue chips McDonald's (MCD), Merck (MRK), and Pfizer (PFE) are also expected to report, as areSpotify (SPOT), Sprint (S), and Advanced Micro Devices (AMD), to name a few. Outside of earnings, the Fed's policy meeting and Fed...Read More
PayPal revealed data on its Venmo service for investorsPayments specialists Visa Inc (NYSE:V) and PayPal Holdings Inc (NASDAQ:PYPL) are in focus this morning following the companies' quarterly reports, which have a number of analysts raising their outlooks on shares of V and PYPL. Let's take a closer look at the stocks.Visa reported a top- and bottom-line beat, and reaffirmed its 2019 outlook, wh...Read More
The market for pig iron exports from the Commonwealth of Independent States (CIS) has fallen into a lull for late April-early May holidays in the United States, Europe and the CIS, Fastmarkets heard on Thursday April 25.Fastmarkets' price assessment for CIS exports of high-manganese pig iron was $330-340 per tonne fob Black Sea on Thursday, down by $5 per tonne week on week.No trading activity was...Read More
The company's first-quarter results arrived well below estimatesThe shares of 3M Co (NYSE:MMM) are slumping today, after the consumer products giant -- whose products include Post-it and Scotch Tape -- reported first-quarter adjusted profit of $2.23 per share on $7.86 billion in revenue, less than analysts were expecting. The company also lowered its 2019 earnings forecast, and said it's cutting 2...Read More
FB is pacing for its best day since JanuarySocial media giant Facebook, Inc. (NASDAQ:FB) is soaring in early trading, after the company reported a first-quarter profit beat. The company also mentioned it has set aside $3 billion to settle with U.S. regulators over data sharing, but could end up having to fork over up to $5 billion. Analysts have been far from shy to respond, with no fewer than 13...Read More
The import price for steel billet in Egypt fell in the week to Thursday April 25, on declining demand caused by uncertainty over the imposition of import duties.Demand for imported rebar was also down and domestic rebar prices increased as a result.Fastmarkets' weekly price assessment for steel billet imported into Egypt was $445-450 per tonne cfr on Thursday, falling from $450-455 per tonne cfr l...Read More
NBEV options are attractively priced, to bootNew Age Beverages Corp (NASDAQ:NBEV) is near the top of the Nasdaq this morning, up 5.6% to trade at $5.82, after the company announced the global launch of its cannabidiol (CBD) product portfolio. The range of products include CBD creams, lotions, and oils, and will be sold worldwide. New Age Beverages stock is on track for its best day since April...Read More
Microsoft has passed a $1 trillion market cap after last night's fiscal third-quarter earnings beatThe shares of tech giant Microsoft Corporation (NASDAQ:MSFT) are soaring today, after the company posted third-quarter earnings and revenue that exceeded analysts' expectations. The Dow stock has now surpassed a $1 trillion market cap, and the company is forecasting even more growth for its Azure clo...Read More
Base metals prices on the London Metal Exchange were mostly lower at the close of trading on Thursday April 25, with the upward price action capped by broad strength in the US dollar index, while fresh cancelations fail to galvanize lackluster price action. Copper's three-month price fell to a low of $6,355 per tonne over the afternoon, its lowest price since March 27 amid an uptick in the US doll...Read More
The Dow is set for a lower open after 3M's earningsDow Jones Industrial Average (DJI) futures are signaling a lower start following Post-it parent 3M's (MMM) shocking earnings report -- which has the blue-chip stock down 8% in electronic trading. Futures on the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are trading above fair value on a positive earnings reaction for Facebook (FB), with the FA...Read More
Australia-based King Island Scheelite has signed an offtake agreement for tungsten concentrate with Austrian producer of refined tungsten Wolfram Bergbau und Hutten AG (WBH), it announced this month. The offtake agreement is for the delivery of 140,000 metric tonne units (mtu) of tungsten trioxide in concentrate, or 1,400 tonnes of tungsten trioxide over a four-year period. This equates to the exp...Read More
By: IRA EPSTEINSpecial Video in lieu of the daily metals update: Moving Averages:Read More
Dear Trader,I was recently on the Keiser Report with Max Keiser discussing Why Deflation, Not Inflation, Will Do Us In.(Interview begins just after the 14-min. mark)No one disputes that Americans owe far more than they will ever be able to repay. This includes future obligations to ourselves, such as Social Security, and public and private pension plans. Some believe "the Government" will...Read More
By: Gary ChristensonOur Current Financial Circumstances:The U.S. is $22 trillion in debt and burdened with $100 - $200 trillion more in unfunded liabilities. Just to pay the interest the U.S. must borrow. Debt is rapidly rising and cannot be paid unless "they" default or hyper-inflate the dollar.Chairman Jerome Powell stated, "The U.S. federal government is on an unsustainable path." Even the Fe...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday April 25 that are worth another look.Imports of non-ferrous scrap into China will be halted suddenly for the first two weeks of July, if not longer, due to the administrative procedures required for the government to issue licenses and scrap import quotas on July 1, multiple sources close to the matter have told Fastmarkets.Aus...Read More
Lion One Metals (TSXV: LIO) (ASX: LLO) announced that it kicked off a drilling campaign at its 100%-owned Tuvatu gold project located on the island of Viti Levu in Fiji.In a press release, the North Vancouver-based miner said that the initial drilling program will test shallow dipping lodes in an area called the HT Corridor, which is a mineralized zone cross-cutting the principal vein system of t...Read More
Base metals prices on the London Metal Exchange were mostly lower at the close of trading on Thursday April 25, with the upward price action capped by broad strength in the US dollar index, while fresh cancelations fail to galvanize lackluster price action. Copper's three-month price fell to a low of $6,355 per tonne over the afternoon, its lowest price since March 27 amid an uptick in the US doll...Read More
Comex copper prices failed to maintain the previous day's gains amid a surging dollar on Thursday April 25, which is putting downward pressure on most of the base metals prices. The copper price for May settlement on the Comex division of the New York Mercantile Exchange tumbled 3.8 cents to $2.8720 per lb. The red metal has been unable to set a clear price direction over the past few weeks, with...Read More
Last month, Trump said that he considered Herman Cain and Stephen Moore as his picks to the Federal Reserve Board. As the former had withdrawn his name from consideration, the focus shifted to the latter. Who is Mr. Moore exactly and what would his nomination imply for the gold market? Who Are You, Mr. Moore? There are still two vacancies at the Board of Governors of the Federal Reserve Boa...Read More