The price range for hollow steel sections in Northern Europe has widened downward this week under the influence of lower prices for hot-rolled coil (HRC), sources told Fastmarkets on Wednesday May 15.Fastmarkets' domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe widened downward to ?,?600-630 ($673-707) per tonne delivered on Wednesday, lower b...Read More
A bull signal just flashed for BBY ahead of earningsShares of the tech retailer Best Buy Co Inc (NYSE:BBY) are slightly higher today, ahead of the company's first-quarter earnings, slated for release before the open next week on Thursday, May 23. The stock has cooled off since its year peak just atop the $75 area in April, but has found support at its 160-moving average -- an area that has acted a...Read More
Both equities sport attractively priced optionsFor the past week, most of Wall Street has been playing "defense," as U.S.-China trade tensions ramped up. As such, consumer staples stocks have outperformed, and two names in particular could see even more upside in the near term. First up is General Mills, Inc. (NYSE:GIS), which on Monday nabbed an annual high of $52.30 earlier. As GIS bucks the bro...Read More
Trian Fund Management is rumored to be pushing for changes at the investment firmLegg Mason Inc (NYSE:LM) stock is trading up 1.9% at $35.35, amid unconfirmed chatter Nelson Peltz's Trian Fund Management is pushing for plans to increase returns for LM shareholders. Buzz about the potential activist investor campaign follows the company's turn in the earnings confessional earlier this week, with LM...Read More
The tech sector is performing well todayThe Dow Jones Industrial Average (DJI) has moved into the black at midday, overcoming early losses, thanks to a CNBC report indicating the Trump administration will delay tariffs on auto imports from Europe for up to six months. This comes after President Donald Trump said a trade deal with China is going to happen, while investors are also monitoring soft r...Read More
The brokerage firm expects the shares to doubleThe shares of eHealth, Inc. (NASDAQ:EHTH) are higher today, after analysts at SunTrust Robinson Humphrey hiked their price target by 33% to $120 -- roughly double yesterday's close. What's more, the online health insurance exchange provider is attracting fresh option bulls, with EHTH call volume running hot already today.eHealth shares were last seen...Read More
Crude Oil recently rallied up to the $63 level and failed. This level is a key Fibonacci price level based on our proprietary adaptive Fibonacci price modeling system. It represents a Fibonacci Long Trigger Level that would suggest that a new bullish price trend could setup if and when the price of Crude Oil rallies and closes above this level.The fact that Crude Oil rallied above this level...Read More
The on-again, off-again trade deal with China has put some life into the stock market, all of it vicious. It has also invigorated an otherwise moribund discussion concerning weather tariffs are good or bad. Popular wisdom has it that the mere discussion of Smoot-Hawley tariff legislation caused the stock market to gyrate wildly in 1929 and eventually to crash. Pat Buchanan does a good job debunk...Read More
Cash will be the king now. Low risk traders and investors will prefer to sit on cash rather than invest in uncertain times. Fundamentals will be the key to investing now. Now a days it is very rare to see rallies in any investment dictated by fundamentals. Gold, Indian stocks and even Indonesian stocks have a long term fundamentally strong story. Only risk to the world growth is energy prices be...Read More
On Friday the United States made good on its threat to ratchet up the trade war against China, after the two parties failed, after weeks of negotiations, to reach a deal.The Trump administration hiked tariffs on $200 billion worth of Chinese imports to 25% from 10%, adding to the $50 billion in goods already being taxed at that level. The tariff hikes went into effect at midnight on Thursday. The...Read More
The FAANG stock is trading near a historically bullish trendlineIt's been a bumpy ride for Apple Inc. (NASDAQ:AAPL) in recent weeks, with the FAANG stock pressured by increasing U.S.-China trade tensions, as well as an unfavorable Supreme Court ruling. All hope is not lost for the tech shares, though, considering they are now trading near a trendline that's had bullish implications for AAPL in the...Read More
The legalization of recreational marijuana in Canada boosted first-quarter salesThe shares of cannabis concern Tilray Inc (NASDAQ:TLRY) were higher in early trading, after the firm shared its first-quarter results. However, while traders initially cheered the company's biggest revenue beat since going public -- thanks to the legalization of recreational marijuana in Canada last October -- TLRY sha...Read More
Sector expert Michael Ballanger muses on the effects of Twitter and political maneuvers on the markets, and specifically on a favorite gold explorer.I have a confession to make: There are no free markets anymore; there are only interventions. Of course, I bow to Gold Anti-Trust Action Committee (GATA) cofounder Chris Powell, who coined that brilliant phrase a few years ago, because it was certainl...Read More
Feralpi Stahl will raise capacity at its rebar and wire rod rolling mill in Riesa in the Saxony region of Germany to 1.3 million tonnes per year, the German division of Italy-based steelmaker Feralpi Group said.The company will invest ?,?60 million ($67.33 million) over a two-year period to increase capacity at Riesa, it said on Wednesday May 15."The investment will strengthen the current producti...Read More
AMAT snapped a six-day losing streak yesterdayThe shares of Applied Materials, Inc. (NASDAQ:AMAT) are up 1.8% to trade at $40.73 today, after a big bull note from Susquehanna. The brokerage firm raised its rating on the semiconductor concern to "positive" from "neutral," while upping its price target to $60 from $34 -- a nearly 50% premium to last night's close. The analyst in coverage sees the s...Read More
We haveseen a pretty sharp oil reversal yesterday. The U.S. session sent oil bullspacking. Not giving up, they’re attempting a comeback today. Geopolitical newsto their rescue: the drone attacks on key Saudi pipelines. Emboldened by thistailwind, do the oil bulls stand a chance of reversing the tide of recentdeclines? Let’s takea closer look at the chart below (charts courtesy of http:...Read More
An accident at a steel mill owned by Brazilian steelmaker Companhia Sider??rgica Nacional (CSN) on Wednesday May 15 injured around 20 employees but had no impact on production there, the company said.The accident at the plant in Volta Redonda city, in Brazil's southeastern Rio de Janeiro state, was caused by a reaction during the removal of slag from equipment during the steelmaking process, CSN s...Read More
Over the past 6+ months, we’ve been covering the price rotations in precious metals very closely. We’ve issued a number of amazing calls regarding Gold and Silver over the past few months. Two of the biggest calls we’ve made were the late 2018 research post that suggested Gold would rally to above $1300, then stall. The other amazing call was our research team&r...Read More
The oversold stock just received another bull noteMKS Instruments, Inc. (NASDAQ:MKSI) received a bull note from Susquehanna this morning that gave the stock a "positive" rating along with a $123 price target. The price target is notable because MKSI shares settled at $80.75 on Tuesday, meaning the brokerage firm is betting on a 52% surge over the next year. However, such upbeat attention isn't rar...Read More
The retail shares have struggled over the long term, thoughMacy's Inc (NYSE:M) stock is up 3.4% in electronic trading, after the department store chain reported stronger-than-forecast first-quarter adjusted profit of 44 cents per share on in-line revenue of $5.5 billion. Plus, same-store sales climbed 0.7% in the three-month period -- more than analysts were expecting -- "supported by the Growth50...Read More