Several Fed members will speak throughout the weekNext week will feature the latest Federal Open Market Committee (FOMC) meeting minutes, as well as several Fed speakers, including Fed Vice Chairman Richard Clarida. A few more earnings reports will roll out, with a focus on retail stocks, including reports from Home Depot (HD), Target (TGT), and Best Buy (BBY). Elsewhere, Wall Street will digest d...Read More
The two stocks are climbing the Nasdaq todayTwo biotech stocks are making noise this morning on Wall Street. First, there's Iovance Biotherapeutics Inc (NASDAQ:IOVA), up 42.2% to trade at $15.63, one of the best stocks on the Nasdaq this morning, after the company reported upbeat cancer drug data at the annual American Society of Clinical Oncology (ASCO) meeting. Analyst Biren Amin at Jefferies...Read More
Cisco Systems is eyeing a close back above the 40-day trendlineBlue chip Cisco Systems, Inc. (NASDAQ:CSCO) is up 5.1% at $55.12 this morning, after last night reporting fiscal third-quarter profit and sales that surpassed analyst estimates. The company cited router and switch sales, alongside cyber security strength, as the main catalyst behind the beat. Analysts have been quick to react to the...Read More
The firm reported revenue that fell below analysts' expectationsThe shares of retail stock Dillard's Inc (NYSE:DDS) are way lower this morning, after the firm reported first-quarter revenue below expectations. Plus, hedge fund Greenlight Capital dissolved its stake in the department store. As such, DDS shares have dropped 9.7% to $57.26 as a result.Dillard's stock today is now dangerously close to...Read More
Chinese tech stocks are under fire in the Trump administration's latest executive order Dow Jones Industrial Average (DJI) futures are pointed toward a positive open, as the latest quarterly earnings reports from Dow stocks Walmart (WMT) and Cisco (CSCO) exceeded analysts' expectations. Both WMT and CSCO are poised to open about 3% higher, offsetting a fresh round of U.S.-China trade tensions afte...Read More
* Mp3 formatHighlightsLouis Navellier of Navellier & Associates returns with comments the booming domestic economic conditions. Our guest notes the 50 year low in the national unemployment rate. The Navellier Tactical ETF ranked #2 in Morningstar's service and topped the list for 3 consecutive years. Our guest outlines what he views as a conspiracy within the market: read Robo-Sharks...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: Thorsten PolleitSince the latest the crisis in 2008/2009, central banks around the world have been doing their best to expel risks from financial markets. By lowering interest rates, fixing them at extremely low levels, or issuing more credit and money, monetary policymakers make sure that ailing borrowers are kept afloat. In fact, central banks have put a "safety net" under the economies an...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
Swedish state-owned iron-ore producer LKAB is to appoint Markus Pet??j??niemi to the role of senior vice president, where he will lead the newly formed market and technology unit, the company said on Thursday May 16.Pet??j??niemi, who will take up the role on June 1, was previously acting senior vice president and led the technology and process development team, which will now fall under the marke...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
Base metals prices on the London Metal Exchange were predominantly higher at the close of trading on Thursday May 16, with trade uncertainties broadly priced in while a stronger dollar tempered commodity buying over the afternoon. The upward momentum in the three-month aluminium futures continued throughout the afternoon trading session, with the light metal settling at $1,860 per tonne, its highe...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
Swedish state-owned iron-ore producer LKAB is to appoint Markus Pet??j??niemi to the role of senior vice president, where he will lead the newly formed market and technology unit, the company said on Thursday May 16.Pet??j??niemi, who will take up the role on June 1, was previously acting senior vice president and led the technology and process development team, which will now fall under the marke...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday May 16 that are worth another look.Base metals prices on the London Metal Exchange were predominantly higher at the close of trading on Thursday May 16, with trade uncertainties broadly priced in while a stronger dollar tempered commodity buying during afternoon trading.Metals trader Glencore has reshuffled its c...Read More
Transition Metals (TSXV: XTM) announced this week that it has entered into an option agreement to acquire a 100% interest in the Cryderman gold property located near Shining Tree, Ontario.In order to move forward with the deal, the Sudbury-based firm has to issue $60,000 in cash and $110,000 in shares to the vendor and complete $300,000 in work over a three year period. If the company vests its in...Read More
USDCHF, "US Dollar vs Swiss Franc" In the H4 chart, USDCHF is expected to break the 5/8 level and then continue falling towards the support at the 3/8 one. Risk Warning: the result of previous trading operations do not guarantee the same results in the future As we can see in the H1 chart, the pair is trading below the 3/8 level. In this case, the price is expected to continue moving do...Read More
One chart I've been watching for the past few years is the ratio of Gold to the S&P 500.Over the last half-century, there have been good times to own gold and good times to own stocks and the two have rarely coincided.The trend in the ratio of the two (at the bottom of the chart below) has been a decent guide to understanding when to own each.This is based on an excerpt from a recent chart...Read More
Investing.com - Gold prices were flat on Thursday in Asia, holding slightly below the key $1,300 level.Gold futures for June delivery, traded on the Comex division of the New York Mercantile Exchange, were at $1,297.15 by 1:37 AM ET (05:37 GMT).Gold prices received a boost since last week as Sino-U.S. trade tension intensified, but lost momentum after U.S. President Donald Trump dialled back some...Read More