Import prices for steel billet in Southeast Asia were unchanged on Thursday December 6, with the uptick in domestic Chinese billet prices early this week failing to revive trading activity in the region.Fastmarkets' daily price assessment for billet imports into Southeast Asia was $460-470 per tonne cfr Manila on Thursday, unchanged from Wednesday.No bookings have been heard concluded since Monday...Read More
China's domestic and export prices for rebar fell further on Thursday December 6, with a pessimistic outlook for supply and demand emerging in the market.Domestic Eastern China (Shanghai): 3,880-3,920 yuan ($566-571) per tonne, down 20 yuan per tonneNorthern China (Beijing): 3,560-3,590 yuan per tonne, down 30-40 yuan per tonneRebar futures tumbled during the day, which weighed on spot prices. Buy...Read More
The European ferro-molybdenum market has climbed almost 2.5% in trading by the midweek pricing session on Wednesday December 5, tracking a previous increase in the oxide market, with alloy prices now back to a level last seen on September 14. The ferro-molybdenum, basis 65%, in-warehouse Rotterdam price has risen to $29.50-29.70 per kg, from $28.80-29 per kg on November 30. Around 65 tonnes o...Read More
China's ferrous futures mostly weakened during morning trading on Thursday December 6, with the exception of the coking coal contract, which inched up.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,395 yuan ($495) per tonne, down 23 yuan per tonneMay hot-rolled coil: 3,319 yuan per tonne, down 4 yuan per tonneDalian Commodity Exchange May iron ore: 470.50 yuan per...Read More
* FTSE 100 ends down 3.2 percent * Huawei arrest stirs trade tension worries * Oil, mining stocks lead fallers (Adds closing prices)By Josephine Mason and Julien PonthusLONDON, Dec 6 (Reuters) - UK shares plunged on Thursday andrecorded losses not seen since the aftermath of the Brexit voteas a sell-off swept global markets following the arrest of a topHuawei executive that renewed worries about U...Read More
Evidence of a looming financial crisis may be growing, according to Harry Dent.The man who warned of the 2001 tech crash, the 2008 subprime financial disaster and China's recent stock market decline - years before they happened - has issued a new earth-shattering statement:"The Dow is set to embark on a catastrophic plunge...all the way down to 6,000."Harry Dent recently explained: "Nations are...Read More
The Nasdaq muscled into positive territory by the closeIt was another volatile day on Wall Street, with the Dow down more than 780 points at its session low as hopes for a U.S.-China trade deal took a hit after the arrest of Huawei Chief Financial Officer (CFO) Meng Wanzhou. However, the blue-chip index pared the bulk of these losses by the close -- and the Nasdaq finished in the green -- after t...Read More
A free tool can help traders bank big this earnings season.We are in middle of Earnings season, which means the time to bank some big wins is now.Tech stocks (AAPL, FB and BIDU) just released Earnings few days ago, and you need to position yourself now in order to make maximum profit from it.One company can help any investor do just that.They've developed a tool that predicts volatility based on...Read More
CloseGain/LossGold $1238.30+$0.10Silver$14.48-$0.04XAU66.35+0.28%HUI150.05+0.46%GDM547.61+0.20%JSE Gold1201.22+52.17USD96.74-0.26Euro113.86+0.46Yen88.79+0.05Oil$51.49-$1.4010-Year2.887%-0.025T-Bond143.5625-0.21875Dow24947.67-0.32%Nasdaq7188.26+0.42%S&P2695.95-0.15% The Metals: Gold chopped near unchanged in low volume trade yesterday before it fell back to $1234.90 in Asi...Read More
Rosenblatt Securities cut its price target on AAPL stockU.S. stocks are in the red once again, as a high-profile arrest fuels concerns about U.S.-China trade. In fact, the detainment of Huawei Chief Financial Officer Meng Wanzhou in Canada -- on America's orders -- has sent shockwaves through the tech sector, weighing on optical components makers like NeoPhotonics Corp (NYSE:NPTN). In addition, Ch...Read More
- What are "Fake Markets" and will they lead to another global financial crisis? - What do fake markets mean for stock and bond market performance in the future? - Is this the right time to re-balance portfolios and hold more cash and gold?In episode 9 of the Goldnomics Podcast, Stephen Flood GoldCore CEO talks to Francesco Filia CEO of Fasanara Capital and regular contributor to CNBC about his...Read More
This week, a white metalreached a rare feat. Palladium has traded at a higher cost per ounce than gold. Last month, the palladium market pushed through allremaining technical barriers by posting a new all-time high. A chronic supplydeficit now threatens to launch palladium prices into a super spike. Atrue shortage of physical metal may be at hand. The primary source of demand isautomakers who requ...Read More
Lots and lots of US economic data releases are there today and till 14th December. Most traders believe that the trend of metals and the US dollar Index will be set after the release of US nonfarm payrolls tomorrow. I do not think so. Next week also there can be trend changing US economic data releases like retail sales and GDP numbers. Physical demand of silver is there in India and Asia. But q...Read More
The shipping stock was put under pressure by Amazon fears Subscribers to our Weekly Options Countdown service recently tripled their money with the United Parcel Service, Inc. (NYSE:UPS) weekly 12/7 117-strike put. We'll take a closer look at what initially put UPS stock on our bearish radar, and how the winning options trade unfolded.When we entered the position on Monday, Dec. 3, the shippin...Read More
Adobe and Costco will highlight a quiet earnings weekNext week, traders will digest the latest inflation data ahead of the Dec. 19 Federal Open Market Committee (FOMC) policy statement, with the Fed expected to hike interest rates one more time in 2018. In addition, the weekly crude inventories report could merit extra attention, on the heels of this week'sOrganization of the Petroleum Exporting C...Read More
Powell has recently came up with the metaphor of wandering in the darkness. Will golden sunshine brighten the dark?I Am the Fed Chair and I Know NothingOn November 14th, Powell discussed global perspectives in Dallas Fed with its President, Robert Kaplan. He characterized the Fed’s stance, providing an interesting analogy: A non-economic example [of the approach adopted by the Fed] would be...Read More
The security has pulled back to a trio of supportive trendlinesDollar General Corp. (NYSE:DG) on Tuesday cut its full-year guidance, citing hurricane costs and potential tariff ramifications. As such, DG shares dropped 6.8% that day -- their worst session since May. However, the security is flashing a trio of historical buy signals, suggesting now may be time to pick up DG on sale.The equity is ba...Read More
F stock is trading down 2% today on new U.S.-China tensionsThe shares of Ford Motor Company (NYSE:F) are trading down 2.7% today at $8.94, after the high-profile arrest of a Huawei exec casts exacerbates U.S.-China trade tensions. While today's retreat is finding a familiar floor in the $9 neighborhood, one options trader is positioning for an even bigger slide into the new year.At last check, rou...Read More
The brokerage firm sees a number of revenue growth opportunitiesBofA-Merrill Lynch upgraded Arista Networks Inc (NYSE:ANET) stock to "buy" from "neutral," and reiterated its $300 price target -- a nearly 31% premium to Tuesday's close. The brokerage firm cited potential growth opportunity in new markets like routing and wireless LAN, given "management's excellent execution history."As such, ANET...Read More
Demand for flat steel in Turkey is expected to remain slow throughout December, and export demand was not strong because of seasonal reasons, but prices are not expected to fall because they did so in November, market participants told Fastmarkets on Thursday December 6.Local producers have filled their order books until late January, they said.The price falls in November resulted in part from wea...Read More