Housing data will trickle in toward the end of the weekWhile the market has undoubtedly seen heightened volatility in the weeks leading up to Christmas, next week -- typically a bullish week for stocks -- should be relatively quiet, at least as far as Wall Street's calendar is concerned. Stocks will have an abbreviated session on Monday, with a break in trading on Tuesday for Christmas. The week w...Read More
It's been nine months since the United States announced Section 232 tariffs, and over six months since a 10% tax was applied to imports of aluminium from Canada, Mexico and the European Union. There's been a huge debate over how successful the tariffs - imposed on the grounds of national security and also applied at a 25% rate to steel - have been. Much depends on who you talk to, and what their s...Read More
The Air Force deal was a "very nice win" for the company, says RBCWhile most U.S. stocks are swimming in red ink today, shares of Pivotal Software Inc (NYSE:PVTL) are bucking the trend to trade higher. Bolstering the equity is an upgrade to "outperform" from "sector perform" at RBC, which waxed optimistic on Pivotal's software and services contract with the U.S. Air Force, calling it "a very nice...Read More
The selling continues on Wall StreetThe Dow Jones Industrial Average (DJI) continues to fall following yesterday's Fed decision, trading at fresh annual lows once again. A post-earnings decline from Dow component Walgreens Boots Alliance (WBA) is also weighing on the index, as are headlines about a potential looming government shutdown. This all has the S&P 500 Index (SPX) and Nasdaq Composite (IX...Read More
WBA stock is set for a sixth straight lossShares of Walgreens Boots Alliance Inc (NASDAQ: WBA) are down 3.3% to trade at $70.60 this morning, despite reporting quarterly adjusted earningsthat beat analysts' expectations. Traders are apparently reacting to a steeper-than-expected drop in same-store sales, and the pharmacy giant announced plans to cut more than $1 billion in costs over the next thre...Read More
This stunning research revealed by the former hedge-fund who predicted the last NASDAQ crash could have some Americans thinking twice before hoarding cash.Something strange is going on in the financial system.And according to The Wall Street Journal, it's causing some investors- including the biggest banks in the world- to move massive amounts of money out of the banking system.What exactly is go...Read More
A steel trade group argued that the statute under which the US Section 232 tariffs on steel and aluminum imports were issued was unconstitutional, according to oral arguments during a US Court of International Trade (CIT) hearing on Wednesday December 19. The American Institute for International Steel (AIIS) alleged that the statute violates the constitutional prohibition against Congress delegati...Read More
Flat steel sales from Brazilian distributors increased by 3% year on year in November, amid a slow recovery in the steel market.Sales from distributors amounted to 262,100 tonnes last month, compared with 254,400 tonnes in November 2017, the Brazilian flat steel distributors association (Inda) said on Tuesday December 18.Flat steel consumption in Brazil is mostly being spurred by a positive perfor...Read More
It's a bold call given the current market climateDespite the huge declines in their share prices, many analysts have stuck behind FAANG stocks. Just this morning, Morgan Stanley named Facebook, Inc. (NASDAQ:FB), Amazon.com, Inc. (NASDAQ:AMZN), and Alphabet Inc (NASDAQ:GOOGL) its top picks from the internet space for 2019. The brokerage firm suggested that digital advertising won't be negatively ef...Read More
The company will research CBD-infused beverages for CanadaThe shares of Tilray Inc (NASDAQ:TLRY) are up 7.4% to trade at $76.25, after the company announced a $100 million joint venture with Anheuser Busch Inbev NV (NYSE:BUD) to research THC- and cannabinoid-infused beverages in Canada. The country, which legalized recreational pot in October, is expected to approve weed-based drinks and edibles i...Read More
Early investors stand to reap the rewards as a new technology looks to change everything.One research firm - which recommended Google and Amazon before they became household names - has built a worldwide reputation of identifying profitable tech trends well before Wall Street and the talking heads on T.V.And just recently, they've uncovered a technology that's already being labeled "humanity's las...Read More
One little-known company already has the key to efficient, high-quality, low-cost cannabis production.Cannabis 2.0 is coming.And it's going to be huge. With huge margins and international attention...The cannabis sector is poised to explode. Some analysts are predicting that the industry will reach $500 billion. With stakes that high, only the most efficient and competitive cannabis players will...Read More
Stock futures have gradually moved lower, hinting at potential weakness at the openDow Jones Industrial Average (DJI) futures are trading slightly below fair value, with stocks still on shaky ground after sliding to new lows yesterday. While traders will certainly continue to consider the Fed's actions, there's also plenty to watch on the earnings front. Namely, Dow stock Walgreens Boots Alliance...Read More
Turkish scrap import prices increased on Thursday December 20 on positive sentiment although no new deals were heard, sources told Fastmarkets MB. Several new bookings were heard on December 18, including a steel producer in the Iskenderun region booking a European cargo comprising 25,000 tonnes of heavy melting scrap (HMS) 1&2 (75:25), 7,000 tonnes of a mixture of bonus and shredded...Read More
CloseGain/LossGold $1261.00+$19.00Silver$14.77+$0.19XAU69.79+4.78%HUI158.49+4.97%GDM576.83+3.08%JSE Gold1344.82-10.71USD96.34-0.72Euro114.57+0.85Yen90.12+0.82Oil$45.88-$2.2910-Year2.804%+0.024T-Bond144.71875-0.3125Dow22859.60-1.99%Nasdaq6528.41-1.65%S&P2467.42-1.58% The Metals: Gold gained $24.30 to a new 5-month high at $1266.30 by early afternoon in New York before it c...Read More
The benchmark in-warehouse Rotterdam aluminium premium fell to its lowest since January 2010 on Thursday December 20, the day after after the US Treasury announced its intention to lift sanctions on Russian aluminium producer UC Rusal in January. Fastmarkets assessed the duty-unpaid premium at $55-65 per tonne on Thursday, down from $60-75 per tonne the day before. Participants told Fastmarke...Read More
CloseGain/LossGold $1261.00+$19.00Silver$14.77+$0.19XAU69.79+4.78%HUI158.49+4.97%GDM576.83+3.08%JSE Gold1344.82-10.71USD96.34-0.72Euro114.57+0.85Yen90.12+0.82Oil$45.88-$2.2910-Year2.804%+0.024T-Bond144.71875-0.3125Dow22859.60-1.99%Nasdaq6528.41-1.65%S&P2467.42-1.58% The Metals: Gold gained $24.30 to a new 5-month high at $1266.30 by early afternoon in New York before it c...Read More
By Dave KranzlerBloomberg posted an article this morning describing the Collateralized Loan Obligation market as "Wall Street's Billionaire Machine." But I seem to recall that the CLO market was one of the financial nuclear bombs that blew up and triggered the financial system de facto collapse in 2008. Well, it's back - with a vengeance. Of course the taxpayers were once again sold a bi...Read More
By Stefan GleasonThe Fed blinked - but didn't flinch away from another rate hike. On Wednesday, Federal Open Market Committee (FOMC) policymakers rejected President Donald Trump's call for a pause. They raised their benchmark rate by a quarter point to a range up to 2.5%.The only concession Fed chairman Jerome Powell offered to Trump and nervous stock market investors was a revised, less hawkish...Read More
Rules help guide us through uncertainty.Miles Franklin sponsored this article by Gary Christenson. The opinions expressed are his regarding the rules for traveling our economic path.THOSE WHO MAKE THE RULES:For perspective on Washington D.C. and Wall Street, we listen to wisdom and wit from Bill Bonner:"We look at the passing parade in Washington through a cynical lens...No situation is so hopel...Read More