The Turkish deep-sea scrap markets went quiet on Thursday May 16, with suppliers withdrawing their offers because of rumors that the United States will remove the doubled Section 232 tariff on Turkey-origin steel products, sources said.The head of the Turkish parliament's foreign affairs committee, Volkan Bozkir, met with the charge d'affaires of the US embassy, Jeffrey Hovenier, in Ankara on May...Read More
The valuation gap between Australian and Canadian producers, highlighted by a recent takeover offer, is reviewed in a BMO Capital Markets report. In a May 15 research note, BMO Capital Markets analysts Brian Quast and Andrew Kaip wrote that St. Barbara Ltd.'s (SBM:ASX) recent offer to acquire Atlantic Gold Corp. (AGB:TSX.V) exemplifies that "the valuation gap between Australian and Canadian produ...Read More
Dr. John-Mark Staude, president and CEO of Riverside Resources, sits down with Maurice Jackson of Proven and Probable to discuss his company's just-announced exploration funding agreement with BHP. Maurice Jackson: Joining us for a conversation is Dr. John-Mark Staude, the president and CEO of Riverside Resources, Where Knowledge is Golden. Riverside Resources Inc. (RRI:TSX.V; RVSDF:OTCQB has som...Read More
Seaborne iron ore prices jumped closer to the $100-per-tonne-cfr mark while setting a five-year high on Thursday May 16 amid bullish market sentiment.MB 62% Fe Iron Ore Index: $99.21 per tonne cfr Qingdao, up by $2.26 per tonne.MB 62% Fe Pilbara Blend Fines Index: $97.40 per tonne cfr Qingdao, up by $1.77 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $102.80 per tonne cfr Qingdao, up by $4.27 pe...Read More
Steel billet from suppliers in the Commonwealth of Independent States (CIS) was on offer this week to Egyptian customers at $450-455 per tonne, but with one deal heard concluded at $445 per tonne cfr.Fastmarkets' weekly price assessment for steel billet imported into Egypt was $445 per tonne cfr on Thursday May 16, narrowing upward from $440-445 per tonne cfr on May 9 because of the pressure from...Read More
The price of steel billet in Turkey has gone down over the past week because of limited demand and falling scrap costs, sources said on Thursday May 16.Fastmarkets' weekly price assessment for billet imports into Turkey was $420-430 per tonne cfr on May 16, narrowing downward from last week's $420-440 per tonne.The price for CIS-origin billet has also gone down this week, with buyers continuing to...Read More
Walmart and Cisco Systems were higher after earningsThe Dow clocked its third straight win on a roughly 215-point gain today, as traders cheered strong earnings from Walmart (WMT) and Cisco Systems (CSCO). A round of upbeat economic data also boosted stocks, helping turn Wall Street's attentionfrom lingering U.S.-China trade uncertainty and President Donald Trump's executive order targeting Chines...Read More
China's domestic rebar prices rose further on Thursday May 16 on gains in the billet and futures markets, though trading activity fell in response to the increases.Domestic Eastern China (Shanghai): 4,020-4,040 yuan ($585-587) per tonne, up 20-30 yuan per tonneNorthern China (Beijing): 3,950-4,000 yuan per tonne, up 20 yuan per tonneMills raised their offers following the gains in the futures mark...Read More
The European molybdenum market has continued the downtrend seen late last week and edged down in the first half of the week that began on Monday May 13, although oxide prices remained unchanged.Fastmarkets assessed the price of European ferro-molybdenum, min 65%, in-warehouse Rotterdam, at $28.50-28.85 per kg on May 15, down from the assessment on May 10 of $28.80-29.10 per kg.Few deals for large...Read More
Traders just doubled their money on Schaeffer's recommended July 120 callSubscribers to Schaeffer's Weekend Trader Series newsletter just doubled their moneywith our PepsiCo, Inc. (NASDAQ:PEP) July 120 call option recommendation. Below, we'll explain how this short-term options trade hit its 100% target during a period of time where the soda stock rose just over 6% on the charts. When we ini...Read More
Today I would like to update some ratio combo charts which may give us a sense of the bigger picture. Its like putting the pieces of a puzzle together where the small pieces don’t look like much by themselves but when they’re all added together it paints a clear picture. These ratio combo charts are just a piece of the puzzle that may add some clarity to some of the individual sectors....Read More
Shorts have retreated from EOLS stock of lateU.S markets are moving higher today, with the Dow Jones Industrial Average (DJI) eyeing its third straight win. On the flip side, a pair of stocks not making positive moves this afternoon are water heater maker A. O. Smith Corp (NYSE:AOS), and biotech Evolus Inc (NASDAQ:EOLS). Below, we will dive into what is moving the shares of AOS and EOLS.Short Sell...Read More
By: RambusTonight I would like to update some ratio combo charts which may give us a sense of the bigger picture. Its like putting the pieces of a puzzle together where the small pieces don't look like much by themselves but when they're all added together it paints a clear picture. These ratio combo charts are just a piece of the puzzle that may add some clarity to some of the individual sector...Read More
By: Ira EpsteinGold in an uptrend:Read More
Today's chart shows ponderous supply sitting on the Nasdaq 100. The two smaller peaks to the left were made significant by the size of the decline that followed them. They harbor many investors who undoubtedly are eager to exit now that the broad averages have returned to those record levels. There is a further impediment in the form of the head-and-shoulderish formation at the righthand edge of...Read More
The FAANG stock is on pace for its longest win streak in a monthIn a filing late yesterday, it was revealed that Warren Buffett's Berkshire Hathaway (BRKA) took a roughly $904 million stake in e-commerce titan Amazon.com, Inc. (NASDAQ:AMZN), confirming buzz earlier this month that the Oracle of Omaha was amassing a position in the FAANG stock. As such, AMZN shares are higher in afternoon trading,...Read More
Options began trading on the ride-hailing service todayRide-hailing concern Uber Technologies Inc (NYSE:UBER) began trading on the Big Board on May 10, and today, traders can begin speculating on the Wall Street freshman via options. While we still have plenty of trading hours left before the close, it looks like the options crowd is leaning bullishly toward UBER so far.After pricing its initial p...Read More
Semiconductor stocks have been in focus as U.S.-China trade tensions festerTech stocks have been in focus lately, amid the escalating tariff war between the U.S. and China. Unlike several of its Huawei-exposed peers, though, Advanced Micro Devices, Inc. (NASDAQ:AMD) stock is higher in today's trading, already up 2.8% at $28.34. And, per data from Schaeffer's Senior Quantitative Analyst Rocky White...Read More
Options traders are targeting chip stocks amid new Huawei dramaThe Dow Jones Industrial Average (DJI) is soaring today, up over 250 points and barreling toward its third straight win, thanks to a combination of well-received blue-chip earnings and upbeat economic data. Cisco (CSCO) has popped more than 6% -- and is on pace for its best day in three years -- as traders cheer its minimal trade-war e...Read More
Puts are running hot as the chip stocks sinkPresident Donald Trump's latest efforts to stifle Huawei Technologies imports are weighing on several of the Chinese telecom company's U.S. suppliers. Among them are semiconductor concerns NeoPhotonics Corp (NYSE:NPTN) and Skyworks Solutions Inc (NASDAQ:SWKS). What's more, both NPTN and SWKS are seeing unusually heavy put volume this morning, pointing to...Read More