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
The drug company's experimental Tourette's treatment failed a mid-stage study Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) are down 21% at $67.77, after the company said its Tourette's drugfailed a mid-stage trial. The dramatic early drop sent NBIX stock to a new annual low of $64.72, and the security is pacing for its worst day since September 2013. NBIX has surrendered roughly 47% since...Read More
KBW is cautious on the banking sector in 2019KBW is cautious on the banking sector in 2019, saying it does not "see enough positive catalysts emerging," and suggesting traders "stick with quality and self-help stocks." Additionally, the brokerage firm downgraded several bank stocks to "market weight" from "overweight," including Bank of America Corp (NYSE:BAC). KBW also dropped its BAC price targe...Read More
The choice may not be too surprising if you've followed the industryBrokerage firm Jefferies this morning issued a thorough note on the video game sector. Analyst Timothy O'Shea said a survey of 500 gamers pointed toward Take-Two Interactive Software, Inc.'s (NASDAQ:TTWO) "Red Dead Redemption 2" as the winner of the holiday season. TTWO shares are trading up 2.3% at $107.85 in response. Looking ba...Read More
As Fastmarkets begins a series on the use of blockchain in commodities, we take a look at the basic concepts in a guide for beginners. What is blockchain?Blockchain is a shared, immutable ledger that facilitates the process of recording transactions and tracking assets. In other words, it is a record of deals and data that can be shared among members of a network and that cannot be changed.Wait, s...Read More
Trump said he would intervene in the Huawei exec's legal troubles "if necessary"Dow Jones Industrial Average (DJIA) futures are trading more than 200 points above fair value, after President Donald Trump chimed in on last week's arrest of Chinese tech exec Meng Wanzhou -- who was released on bail yesterday by a Canadian judge. Speaking to Reuters, POTUS said he "would certainly intervene" if he th...Read More
NVDA has shed nearly half its value since Oct. 2Perhaps no stock has fallen further from grace during the broad market sell-off than Nvidia Corporation (NASDAQ:NVDA). Today, the chip stock is down 0.6% in electronic trading, after RBC trimmed its price target to $230 from $260, but even that still represents a 55% premium to yesterday's closing perch of $148.19. Also adding pressure is a report ou...Read More
Timely access to reliable data has been a key factor hindering the success of trade finance for years. Fastmarkets looks at what the problem is and how blockchain has set out to overcome it.Trade finance, the complex management of capital required for international trade to flow, has made huge strides in developing blockchain networks designed to ultimately replace more traditional methods.It is a...Read More
The inverted yield curve is a popular predictor of recessionsThe yield curve is created by plotting the yields on U.S. Treasuries at various maturities. It's getting a lot of press lately because the five-year rate has overtaken the two-year rate. It's expected that the 10-year rate will soon surpass the two-year rate, meaning an inversion between the more popular 2-year/10-year yield spread. An i...Read More
Silver breached 1-month highs on Wednesday with Gold also at 5-month highs on expectation of fewer rate rises in the United States in 2019. Meanwhile oil rose 2% above $53 per barrel supported by an industry report that showed a drop in U.S. crude inventories, a cut in Libyan exports and an OPEC-led deal to trim output. Where are commodity prices heading next? Watch Phil...Read More
Iranian export billet and slab prices continued to fall this week, with sanctions leading suppliers to cut offers, but with little success.Billet offers from Iran were heard at $395-405 per tonne fob, depending on the producer, down from $405-412 per tonne fob last week.However, most customers have held back from purchasing Iranian material."It is too risky to buy Iranian steel...Read More
CIS export billet price dropped further on Wednesday December 12 with negative sentiment in the market curbing trading activity."People are just scared to buy because they know that tomorrow they will be able to get a lower price," a trader said.Most market...Read More
The latest news and price moves to start the Asian day on Thursday December 13.Base metal prices on the London Metal Exchange had mostly drifted lower by the close on Wednesday December 12 but were confined to tight ranges throughout what was an unexceptional trading day. Read more in our live futures report.Here are how prices looked at the close of trading:A historic backwardation in zinc forwar...Read More
The latest metal markets news and price moves to start the North American day on Wednesday December 12.London Metal Exchange base metal prices have made a typically tentative start to trading on Wednesday December 12, with copper, aluminium and zinc all trading down against yesterday's close. Here is how the LME base metals complex looked at 11.40am London...Read More
A move above a resistance level.A bullish pattern since August but falling interest.Defying the December curse.The Fed could ignite a rally.UGLD for maximum impact on the upside.The gold market faded into the background over the past months as the price of the yellow metal broke down over the summer months and declined to its lowest level since early 2017. The strong dollar weighed on the price of...Read More
Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Wednesday December 12.Base metal prices, barring those for aluminium, on the Shanghai Futures Exchange were up across the board during Asian morning trading on Wednesday December 12, with the complex continuing to find support from positive trade headlines. Check Fastmarkets MB's live futures...Read More
Canada's Harte Gold (TSX: HRT) said Wednesday it expects to begin commercial production at its Sugar Zone operation before year-end.Since landing commercial production permits from the Ontario government in September, it has been running full tilt - it poured its first gold bar in October, held the mine's official opening later that same month, and conducted its first production blast in November...Read More
Gold futures settled higher on Wednesday, scoring their first gain in three sessions after data showed U.S. inflation remained flat in November and the dollar took a dip after strengthening over the last two sessions. Gold for February delivery GCG9, -0.03% on Comex rose $2.80, or 0.2%, to settle at $1,250 an ounce, while March silver SIH9, -0.24% added 22.3 cents, or 1.5%, to $14.851 an ounce....Read More
Peter KrauthAt its core, gold is two things: wealth preservation and financial insurance.So when the head of the world's biggest hedge fund recommends an allocation of 5% to 10% in gold, investors need to listen.Another respected expert on the price of gold is Ray Dalio, founder and chief investment officer at Bridgewater Associates, the world's largest hedge fund, with some $160 billion under man...Read More
Published 21 Hours AgoUpdated6 Hours AgoReuters Leonhard Foeger | ReutersGold bars at the Austrian Gold and Silver Separating Plant in Vienna, Austria.Gold prices edged higher on Wednesday as the dollar slipped and expectations of U.S. interest rate hikes next year dimmed, brightening the appeal of non-interest yielding bullion.Spot gold was up 0.12 percent at $1,244.34 per ounce as of 2:07 p.m...Read More