Fever took hold of the stock market as the week ended, stoked by the best unemployment numbers in half a century. Two days earlier, shares had fallen sharply as investors registered their disappointment in the Fed's latest pronouncement. Obfuscator-in-chief Powell had said the central bank would hold steady and that the economy seemed in fine shape. But the markets reacted as though they were ho...Read More
Russia has criticized Mexico at the World Trade Organisation (WTO) for maintaining anti-dumping duties on Russian steel exports, which it claims are outdated, being based on pricing assessments using data from a different country.The Mexican government used this method for past dumping calculations on Russian steel because it is permitted under WTO rules where a government dominates an economy tha...Read More
UK long steel producer British Steel has been granted approval from a French court to take over troubled French special steelmaker Ascoval, the company said on Thursday May 2.Following the approval from the tribunal de grande instance (TGI) in Strasbourg, Ascoval, which is located in Saint-Saulve, Northern France, will officially become part of British Steel on Wednesday May 15 and will be renamed...Read More
China said it would still carry on with trade talks next week, despite Trump's earlier tweetsThe Dow won back most of its earlier losses, ending only 66 points below breakeven after this morning's dramatic 471-point drop. The index was mostly bolstered by reports that China would still be traveling to the U.S. next week to continue trade talks, despite President Donald Trump's inflammatory tweets...Read More
While 2016 and 2017 each had a single, clear factor that drove up seaborne coking coal prices, this was a key feature that was missing last year, when the market continued to strengthen regardless.And if the first few months of 2019 are anything to go by, the seaborne coking coal market might have just reached a new level of complexity.When China decided to tackle overcapacity in its coal sector i...Read More
BorgWarner is down 1.5% this afternoon on tariff headwindsGlobal trade tensions have markets moving significantly lower at midday, while the stock market's "fear gauge," or Volatility Index (VIX), is at multi-month highs. Also making noise today is natural gas name Midstates Petroleum Company Inc (NYSE:MPO), medical research firm Athenex Inc (NASDAQ:ATNX), and automotive parts supplier BorgWarner...Read More
This innovative company could help investors see some major upside.For those who have been trying to play the pot craze, a recent value play has emerged for those quick enough to jump on the bandwagon. Investors are beginning to take action on this "Warren Buffett-style marijuana play" after its 296% 12-month run. With an increased push towards legalization in much of the U.S., particular nich...Read More
The stock hit a record high earlierSinclair Broadcast Group Inc (NASDAQ:SBGI) stock has spiked 29% higher today to trade at $58.02, after the media giant's CEO Chris Ripley said SBGI has "an interest in as broad a distribution as possible" following its purchase of some of Walt Disney's (DIS) sports assets -- including a potential live sports partnership with Amazon.com (AMZN). The equity is fresh...Read More
May 3rd, 2019(S14-E694)Featured GuestsDr. Seth Shostak Ph.D.& Bob HoyePlease Listen HereInterview RecapDr. Seth Shostak Ph.D, lead Astronomer and Astrophysicist at SETI, makes his Goldseek.com Radio debut. Dr. Shostak has a weekly broadcast where he discusses need to send NASA probes throughout the solar system for signs of life. The signalhunters team has rendered several thousand images o...Read More
By: David Chapman "Sell in May, and go away." old stock market adage "All there is to investing is picking good stocks at good times and staying with them as long as they remain good companies." Warren Buffett, CEO, Berkshire Hathaway; investor and philanthropist, b. 1930 "Wall Street's graveyards are filled with men who were right too soon." William Peter Hamilton, editor, The Wall Street J...Read More
By: Stefan GleasonThe roller coaster presidency of Donald Trump is currently riding high as the stock market races back up to new highs, economic data come in better than expected, and Congressional Democrats' endless investigations come up empty handed.Trump's approval rating recently hit 50% at the same time as CNN's ratings are tanking.Over the weekend, President Trump sent CNN and the rest o...Read More
Dear Friend of GATA and Gold:Gold investors, Kitco News market analyst Jim Wyckoff writes today, "are scratching their heads and wondering why their metal has not reacted more positively to unsettling developments on the geopolitical front":https://www.kitco.com/news/2019-05-06/Gold-Bulls-Perplexed-Safe-Haven-Me...Maybe some gold investors share Wyckoff's supposed puzzlement, but not all. In a...Read More
By: Keith WeinerOver the past several weeks, we have debunked the idea that purchasing power i.e. what a dollar can buy is intrinsic to the currency itself. We have discussed a large non-monetary force that drives up prices. Governments at every level force producers to add useless ingredients, via regulation, taxation, labor law, environmentalism, etc. These are ingredients that the consumer...Read More
Russian billet and rebar producer Abinsk Electic Steel Works (Abinsk) has entered into a definitive agreement with compatriot Severstal to buy its long-products mini-mill in Balakovo in the Volga federal district.The transaction, worth $215 million, is expected to be completed by the end of June, following the receipt of approvals and other standard conditions."Following the sale of mini-mill Bala...Read More
StrengthsThe best performing precious metal this week was gold, after closing out the week on a strong uptick on Friday. Gold traders were split this week on the yellow metal as it headed for another down week, according to the weekly Bloomberg survey of traders and analysts. However, gold futures rose on Fr...Read More
By: Chris MartensonIn the song Sixteen Tons by Merle Travis (and made famous by Tennessee Ernie Ford), the idea of the 'company store' referred to a system of debt bondage that effectively trapped workers within an unfair system designed to harvest all of their labor at very low cost.You load sixteen tons, what do you get?Another day older and deeper in debtSaint Peter don't you call me 'cause...Read More
Fever took hold of the stock market as the week ended, stoked by the best unemployment numbers in half a century. Two days earlier, shares had fallen sharply as investors registered their disappointment in the Fed's latest pronouncement. Obfuscator-in-chief Powell had said the central bank would hold steady and that the economy seemed in fine shape. But the markets reacted as though they were ho...Read More
The FDA just granted Zynerba "fast track" status for its new CBD-based gelThe Food and Drug Administration (FDA) granted Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE) "fast track" status for its cannabinoid-based gel, Zygel, used in the treatment of symptoms brought on by the rare genetic disability Fragile X Syndrome (FXS). The stock is up 8% at $12.36 as a result. ZYNE has seen some serious growth...Read More
HTZ puts have been favored latelyRental car icon Hertz Global Holdings Inc (NYSE:HTZ) will step into the earnings confessional after the market closes today. Ahead of the company's first-quarter report, options traders are coming out of the woodwork, with an emphasis on puts.Specifically, nearly 5,900 HTZ options have changed hands today, three times the average intraday amount and double the num...Read More
Prices for flat steel products in the Brazilian domestic market remained largely unchanged this month as local steelmakers successfully applied a price increase for distributors.Fastmarkets' monthly price assessment for Brazilian domestic hot-rolled coil was at 2,560-2,610 Reais ($650-662) per tonne ex-works on Friday May 3, unchanged from April's assessment. Fastmarkets' monthly price assessment...Read More