* Nikkei, Topix post biggest weekly drop since early February* Canon falls to lowest level since Feb 2017 on forecast cut* Mazda Motor drops after media report on new NAFTA rulesBy Hideyuki Sano and Ayai TomisawaTOKYO, Oct 26 (Reuters) - Japanese shares posted their biggest weekly loss in more than eight months on growing worries over earnings of domestic firms, with camera maker Canon disappointi...Read More
(Adds detail)FRANKFURT, Oct 26 (Reuters) - Euro zone prices are expectedto continue growing at 1.7 percent per year until 2020 despiteweaker underlying inflation and economic growth, a EuropeanCentral Bank survey showed on Friday.The ECB confirmed a day earlier plans to wind down its 2.6trillion euro ($2.96 trillion) stimulus programme at the end ofthis year and raise interest rates sometime after...Read More
Brazilian slab export prices went up on Friday October 26, amid a stronger focus on trade to the United States and with no deals being made to other destinations.Fastmarkets' assessment of the weekly price of Brazilian slab exports reached $505-515 per tonne fob on Friday, up from $500-510 per tonne fob in the previous week.At least three different cargoes were sold to the US market for December s...Read More
* Japan life insurers' preference for foreign bonds intact * But higher FX hedging costs suppress interest towardsTreasuries * Demand for JGBs still low, but bump up in yields stirsinterest * For individual reports on each insurer, click* Table of the insurers' investment plansBy Shinichi SaoshiroTOKYO, Oct 26 (Reuters) - Japanese life insurers are poisedto buy more foreign bonds in the second hal...Read More
Usiminas, Brazil's largest flat steel producer, focused on the domestic market during the third quarter and achieved its highest steel sales volume since the fourth quarter of 2015, its earnings report shows.Steel shipments rose by 8.96% to 1.11 million tonnes from 1.02 million tonnes a year before, the company reported on Friday October 26. The steelmaker sold 992,000 tonnes to Brazilian customer...Read More
TRONDHEIM, Norway, Oct 26 (Reuters) - Norway's central bankwill maintain its policy of gradual monetary policy tightening,it said on Friday."The outlook and balance of risks imply a gradual increasein the key policy rate," Governor Oeystein Olsen told a businessconference.On Thursday the board of Norges Bank kept rates unchanged at0.75 percent and said a hike would likely take place in t...Read More
Meet the innovative company crushing the competition.Nothing's hotter than this stock right now.Professional sports franchises and celebrities across the globe are pumped about it. Even Justin Bieber and his group are excited. The next wave of giant sportswear companies is going to be based on this new "tech" apparel industry and its potential to reshape both the apparel and technological landscap...Read More
European transaction prices for grade-304 cold-rolled (CR) sheets fell dramatically this week because domestic mills are fighting for market share with imported material, sources said.Fastmarkets' weekly assessment for grade-304 CR sheets was ?,?2,200-2,300 ($2,506-2,620) per tonne delivered on Friday October 26, down by ?,?100 per tonne. https://www.metalbulletin.com/My-price-book.html?price=4361...Read More
The Dow and S&P also racked up big weekly lossesIt was a sharply lower session on Wall Street, with the Dow off more than 500 points at its intraday low. Negative FAANG earnings reactions from Amazon (AMZN) and Alphabet (GOOGL) sparked the heavy selling, and had the S&P 500 flirting with correction territory. While the major benchmarks came off their earlier lows by the close, they all ended the w...Read More
SHANGHAI, Oct 26 (Reuters) - China's yuan hit a fresh22-month low against the dollar on Friday, as aweaker-than-expected central bank fixing ramped up market viewsthat authorities would allow larger declines in the currency.The move lower follows broad dollar strength as the eurofell after the European Central Bank failed to convince marketsthat its rates would rise, while expectations of gradual...Read More
The semiconductor name will report earnings on MondayThe shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) are getting hit by broad-market headwinds today, as chip stocks sell off on a rare revenue miss for Western Digital Corp (NASDAQ:WDC). After bottoming at a 22-month low of $17.45 earlier, TSEM stock was last seen down 0.3% at $18.06.Despite this technical weakness, TSEM options traders are tar...Read More
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