Disappointing results from 3M and Caterpillar weighed on the DowIt was a wild week on Wall Street, with the Dow exploring a more than 1,000-point range on both sides of breakeven, as of this writing. Most of the price action occurred to the downside, with the Dow, S&P 500 Index (SPX), and Nasdaq Composite (IXIC) all pacing for weekly losses -- the latter for its fourth in a row, which would mark i...Read More
Western Digital posted a rare miss in quarterly revenueStocks are trading lower today to put the S&P 500 Index into correction territory. Looking at individual names to watch, digital memory expert Western Digital Corp (NASDAQ:WDC), former Dow component General Electric Company (NYSE:GE), and drugmaker Syndax Pharmaceuticals Inc (NASDAQ:SNDX) are all making notable moves. Below is a breakdown for...Read More
It could be just the beginning of TTWO's reboundWhile most stocks are swimming in red ink today, shares of video game maker Take-Two Interactive Software, Inc. (NASDAQ:TTWO) are bucking the trend, last seen 0.9% higher at $121.72, following the highly anticipated release of its "Red Dead Redemption 2" game. What's more, it could be just the beginning of TTWO's recovery, with the stock flashing a h...Read More
For the first time since March 2016, Amazon's share price has crashed below its 200-day moving average.Continue...Read More
CloseGain/LossOn WeekGold $1234.00+$3.70+0.62%Silver$14.70+$0.08+0.48%XAU65.17+0.68%-7.02%HUI144.65+0.86%-7.03%GDM530.73+0.31%-5.03%JSE Gold1213.58+13.07+1.56%USD96.35-0.28+0.66%Euro114.20+0.45-0.78%Yen89.42+0.40+0.34%Oil$67.59+$0.26-4.82%10-Year3.079%-0.045-3.66%Bond139.375+0.65625+1.11%Dow24688.31-1.19%-2.97%Nasdaq7167.21-2.07%-3.78%S&P2658.69-1.73%-3.94% The Metals: Go...Read More
The VIX is up 30% so far this weekStocks are selling off once more, with the Dow Jones Industrial Average (DJI) down more than 350 points at midday, almost erasing the gains from yesterday. The S&P 500 (SPX) and Nasdaq Composite (IXIC) are spiraling, as well, with the former hovering near correction territory. Plus, all three indexes are headed for a weekly loss -- the Nasdaq its fourth in a...Read More
Gold COT Report - FuturesLarge SpeculatorsCommercialTotalLongShortSpreadingLongShortLongShort192,578163,19073,950163,414209,934429,942447,074Change from Prior Reporting Period 3,378-8,3432,672-2,72911,7953,3216,124Traders19187935454288197 Small Speculators (C) GoldSeek.com LongShortOpen Interest 47,89030,758477,832 93-2,7103,414 non reportable positionsChange from the...Read More
The US$ index is breaking higher. Its trading at 96.41 as we pen this. A daily close above 96.61 marks a new 52-week high and puts the dollar in position to eventually retest its bull market high at 104. If this strength continues then the relief rally in precious metals could be over. So why is that a bullish catalyst for Gold?First, we know that a real bull market is not going to begin until the...Read More
Golden Nuggets: Key Gold and Precious Metals News, Commentary and Charts This WeekHere is our Friday digest of the important news, commentary, charts and videos we were informed of this week.The old Wall Street adage is that they "never ring a bell at the top" but there was a real sense this week that we may have seen a turning point. U.S. stocks including both the NASDAQ and the S&P 500 have s...Read More
After the roller coaster ride this week in global financial markets, investors are cautious investing in everything. Gold is consolidating in a $1220-$1245 range. This range will be broken by Halloween. If industrial metals crash, then silver could take a back seat. Speculation of oversupply in crude oil has resulted crude oil trading with a softer bias. If crude oil does not rise today (being t...Read More
The U.S. economy grew at a faster-than-expected pace in the third quarter as consumer spending surged while inflation was relatively timid, according to recent data Continue...Read More
While the rest of the stock market has crumbled, AMRN has ralliedWhile the rest of the stock market has suffered in October -- the Nasdaq Composite (IXIC) is set for its worst month since the 2008 financial crisis -- Amarin Corporation (NASDAQ:AMRN) has added more than 30%. What's more, the pharmaceutical concern just yesterday notched a new 11-year high, and one indicator suggests it could be tim...Read More
It's been a dismal morning for corporate earningsThe broader U.S. stock market is deep in the red today due to a round of disappointing corporate earnings. Two names in particular down after quarterly updates are alternative energy concern First Solar, Inc. (NASDAQ:FSLR) and manufacturing issue Flex Ltd (NASDAQ:FLEX). Let's take a closer look at how shares of FSLR and FLEX are getting smacked toda...Read More
Joint acquisition partners ArcelorMittal and Nippon Steel & Sumitomo Metal Corp (NSSMC) are looking to India as a growth market after ArcelorMittal won the bid to buy insolvent Essar Steel. "India is one of the most promising markets in the world with significant growth potential in the medium- and long-term and where domestically-produced steel products have a superior position," NSSMC said in it...Read More
Marijuana stocks are in "early internet" territory.Amazon's early investors walked away with over 79,000% in profits. And this same phenomenon is happening in the cannabis space right now.Remember, the dotcom bubble separated out the real companies from the fake.Which is why it's so important to "weed" out the companies that might not survive this volatile but opportune time.Now, the race has ser...Read More
Puts have been quite popular lately on MLNXWhile the broader semiconductor sector has had a rough week, Mellanox Technologies, Ltd. (NASDAQ:MLNX) is up today 12.8% in electronic trading, after the company hired a financial adviser to explore a possible sale. The chipmaker has received interest from at least two companies, according to a CNBC report. Should today's price action pan out, MLNX woul...Read More
Snap said DAUs fell by a wider-than-expected margin in the third quarterThe shares of Snap Inc (NYSE:SNAP) are spiraling in electronic trading, after the Snapchat parent's quarterly earnings results were met with a round of bearish brokerage notes. At last check, SNAP stock was down 13.2%, on track to open at a new record low of $6.20.For the third quarter, Snap reported a slimmer-than-expected ad...Read More
Shares of AMZN and GOOGL are down big before the openIt's setting up to be an ugly day on Wall Street, with Dow Jones Industrial Average (DJI) futures pointing to a more than 250-point sell-off. Likewise, the Nasdaq-100 Index (NDX) is also bracing for a triple-digit drop out of the gate. The latest round of corporate earnings has been thoroughly disappointing, headlined by sharp pre-market losses...Read More
Is a "Blue Wave" building?Something strange is happening in America.Millions of Americans are furious - and this time, they're taking their anger out on Republicans.All across America, 45 Republicans have lost elections during Trump's presidency in places they shouldn't have possibly been able to lose... even in districts where Trump won in a landslide and remains popular.In the last few months al...Read More