As competition in the global steel markets remains fierce, Fastmarkets provides an update on the new, progressing and closed ferrous trade cases from around the world in October 2018.The case list below includes only updates. For other continuing cases this year, see the updates for January, February, March, April, May, June, July, August and September.1. EU: seamless steel pipes and tubes from Ru...Read More
Asia's flat steel market is expected to continue to see declining prices amid persistently weak demand and excess supply in the region, market sources told Fastmarkets MB this week.Spot prices for various flat steel products are at intra-year lows, falling steadily after peaking earlier this year. The bearish sentiment will prevail for the time-being, market sources said, with buyers taking the op...Read More
Oil prices fell to a nearly seven-month low as supply ramped upStocks rallied again today, with the Dow and Nasdaq both notching a third straight triple-digit gain. Upbeat earnings from DowDuPont (DWDP) drove the Dow higher, and traders applauded an encouraging tweet on trade talks with China from President Donald Trump. The S&P also extended its winning streaks to three days, continuing to chip a...Read More
CloseGain/LossGold $1233.20+$16.30Silver$14.74+$0.46XAU67.19+4.52%HUI149.73+4.84%GDM544.52+3.60%JSE Gold1139.52-24.28USD96.27-0.74Euro114.11+0.86Yen88.87+0.25Oil$63.69-$1.6210-Year3.139%-0.008T-Bond138.50+0.375Dow25380.74+1.06%Nasdaq7434.06+1.75%S&P2740.37+1.06% The Metals: Gold climbed steadily higher throughout most of world trade and ended near its midafternoon New Yor...Read More
In our latest video update, we consider the performance of markets in a volatile October. Stock markets globally fell sharply while gold acted as a hedge in all currencies, rising 1.7% in dollars, 4.4% in euro terms and 4.2% in sterling terms.Stocks Fall Sharply in OctoberThe S&P 500 is just short of a 10% decline from its record September high and remains on pace for the worst month since 2009....Read More
All eyes will be on Fed Chair Jerome Powell and the latest FOMC statement this ThursdayThe first full trading week of November is set to be a lively one for stocks. Earnings season remains in full swing, with quarterly reports due out from the likes of Dow stock Walt Disney Co (NYSE:DIS), online marketplace Etsy Inc. (NASDAQ:ETSY), dating app service Match Group Inc (NASDAQ:MTCH), and a number of...Read More
London Metal Exchange members are considering a multitude of ways to continue to service their EU clients in the event that a financial services deal is either not forthcoming or does not go far enough when the UK finally leaves the European Union. Some companies have even told their LME sales teams they need to be prepared to move to another major European city to be able to legally service their...Read More
"They say that Italians have few children and that something is needed to turn the trend around...That's why the ministry wants to contribute, favouring rural areas in particular, whereContinue...Read More
Both healthcare stocks have been underperformers in NovemberBiotech name Vertex Pharmaceuticals, Inc. (NASDAQ:VRTX) and medical device stock Boston Scientific Corporation (NYSE:BSX) both had subpar Octobers, pulling back amid the broader market sell-off. And while both stocks are trading higher today, the selling could be far from exhausted, if history is any guide.VRTX's Rough Quarter Could Get W...Read More
As competition in the global steel markets remains fierce, Fastmarkets provides an update on the new, progressing and closed ferrous trade cases from around the world in October 2018.The case list below includes only updates. For other continuing cases this year, see the updates for January, February, March, April, May, June, July, August and September.1. EU: seamless steel pipes and tubes from Ru...Read More
Fitbit stock is trading up, tooThe U.S. stock market is higher today on trade optimism. Among individual names making big moves are wearable tech firm Fitbit Inc (NYSE:FIT), Chinese e-commerce name JD.com, Inc. (NASDAQ:JD), and molecular diagnostics specialist Myriad Genetics, Inc. (NASDAQ:MYGN). Here's a quick look at what's moving shares of FIT, JD, and MYGN.Fitbit Earnings Boosted By Smartwatch...Read More
Short covering could keep the wind at ALK's back, tooThe shares of Alaska Air Group, Inc. (NYSE:ALK) are up 3.6% to trade at $63.63 today, bouncing back after logging a stiff October loss. The regional airliner could be due for an even bigger breakout this month, if past is prologue.On the charts, Alaska Air Group stock gapped lower in early October, eventually turning in a 10.8% loss for the mont...Read More
It looks like one speculator is cashing in on a big spreadThe iShares China Large-Cap ETF (FXI) is moving higher today, thanks to President Donald Trump's encouraging tweet on trade. The exchange-traded fund (ETF) was last seen 3.8% higher at $40.79, and it looks like one options trader is cashing in, with FXI call volume skyrocketing.Shares of the fund have struggled since peaking at $54 in Janua...Read More
POTUS said trade discussions were going well with ChinaThe Dow Jones Industrial Average (DJI) has kicked off November with a bang -- up triple digits on strong blue-chip earnings and an upbeat tone on trade talks from President Donald Trump. Specifically, Trump tweeted that tariff discussions with Chinese President Xi Jinping were "moving along nicely," and that meetings between the two leaders w...Read More
Square reports earnings on Nov. 7Like most of the stock market, the shares of Square Inc (NYSE:SQ) struggled in October, giving up more than 25%. However, SQ stock recently sent up a pair of technical buy signals, and seasonality could bode well for the security. With earnings less than a week away, we decided to look at the prospects of a short-term Square rebound.After touching a record high of...Read More
A 1% increase in China's export rebate rate for hot-rolled coil will have a minimal impact on the spot market, traders in the country told Fastmarkets on Thursday November 1.The increase in the export rebate for HRC, from 9% to 10%, is just one of 3,449 product rebates announced by China's State Administration of Taxation on Thursday.Existing 9% rebates were increased to 1...Read More
Apple earnings are due after the close tonightIt's been a busy month for the shares of Apple Inc. (NASDAQ:AAPL), per the stock's 30-day historical volatility of 34.6% -- in the 95th annual percentile. Today, the security is down a modest 0.1% to trade at $218.55, but the options market is pricing in a larger-than-usual move after the iPhone maker reports earnings later tonight.At last check, Trade...Read More
Pig iron export prices from the Black Sea region were largely stable this week, with sellers maintaining offers at the upper end of last week's price range, Fastmarkets learned on Thursday November 1.Fastmarkets' weekly price assessment for high-manganese pig iron was $365-375 per tonne fob Black Sea on Thursday, narrowing upward by just $5 per tonne.Cargoes intended for Italy originating in the B...Read More
The shares are in territory not charted since August 2017Veeco Instruments Inc. (NASDAQ:VECO) stock is getting destroyed this morning, after the chipmaker revealed that it recently discovered a cyber attack that may have compromised confidential customer information. Adding salt to the proverbial wounds, the firm reported weaker-than-expected third-quarter revenue, and issued current-quarter guida...Read More
SBUX has added 23% since late JuneThe shares of Starbucks Corporation (NASDAQ:SBUX) are down 0.1% to trade at $58.23 this morning. The coffee giant just announced the release of its red-and-green holiday cups, but more importantly, will report fiscal fourth-quarter earnings after the close tonight. Over the last eight quarters, Trade-Alert data shows SBUX making an average move of 3.3% in the...Read More