FAANG stocks were under pressure amid antitrust probesThe Dow traded on both sides of the aisle throughout the day, but ultimately eked out a win. On the other hand, the tech-heavy Nasdaq suffered a second straight triple-digit loss and its lowest close since mid-February, falling into correction territory amid concerns about FAANG stocks. More specifically, reports emerged that the Justice Depart...Read More
How you can transform lagging indicators into leading indicators.No one ever said trading was going to be easy.Sometimes, do-it-yourself investing can feel about as scientific as throwing darts... and many traders give up, unable to figure out how they can break through the endless cycles of mediocre - or even straight up abysmal! - results.And when even the supposed "market gurus" or "experts" do...Read More
FB is heading toward its worst day since late DecemberAlphabet (GOOGL) sent the broader tech sector reeling out of the gate on news the Department of Justice (DoJ) is considering an antitrust probe into the search engine giant. Losses have only accelerated for fellow FAANG stock Facebook, Inc. (NASDAQ:FB), after a Wall Street Journal report indicated the Federal Trade Commission (FTC) secured the...Read More
J.P. Morgan Securities removed Salesforce.com from its Analyst Focus listSalesforce.com, Inc. (NYSE:CRM) was just taken off J.P. Morgan Securities' Analyst Focus list, right before the cloud concern unveils its first-quarter earnings after the close tomorrow, June 4. The analyst maintained its "outperform" rating and $180 price target, but warned software valuations were nearing a 15-year peak. Th...Read More
TIF has been trending lower since a recent rejection at its 320-day moving averageHigh-end jeweler Tiffany & Co. (NYSE:TIF) is moving up the charts this afternoon, as traders climb on ahead of the company's first-quarter earnings report, slated for release before the market opens tomorrow, June 4. Below, we will take a look at how TIF has been performing on the charts, as well as what the options...Read More
Zinc's three-month price on the London Metal Exchange continued to move downward at the close of trading on Monday June 3, with market participants indicating a corrective price move.At the same time, commodity investment remained subdued on the threat of new tariffs to be imposed on Mexico by the United States.Volumes traded in the galvanizing metal reached their highest level since April 16, wit...Read More
Morgan Stanley gave 3 things it's considering in its coverage of the government services spaceAnalysts at Morgan Stanley today began coverage on government services stocks with a balanced outlook. The firm sees steady growth in the U.S. defensive space, full valuations in the sector, and increased competition. Still, two names the firm gave bullish attention were Booz Allen Hamilton Holding Corpor...Read More
The stock is higher after Amgen announced positive results for its cancer drugWhile the Dow is currently trading around breakeven, the tech-rich Nasdaq is down triple digits on regulation concerns for FAANG stocks. Two stocks that have also captured Wall Street's attention today are biopharmaceutical concern Mirati Therapeutics Inc (NASDAQ:MRTX) and car-pricing database name TrueCar Inc (NASDAQ:T...Read More
Weekly options are popular as AAPL's WWDC kicks offDow component Apple Inc. (NASDAQ:AAPL) unsurprisingly showed up on Schaeffer's Senior Quantitative Analyst Rocky White's list of stocks that have seen the most option volume in the past 10 days, and today near-term contracts are popular again. Another name on the list, newly added since last week's study (as indicated by the yellow highlight), is...Read More
The export market for hot-rolled coil and cold-rolled coil from the Commonwealth of Independent States (CIS) was silent in the week to Monday June 3 ahead of Eid al Fitr celebrations in key destinations.Fastmarkets' weekly price assessment for HRC exports from the CIS was $475-490 per tonne fob Black Sea on June 3, narrowing upward from $470-490 per tonne fob a week earlier."The market w...Read More
A short squeeze could add fuel to the stock's fireSeveral healthcare stocks are hot today, following the American Society of Clinical Oncology's annual conference, and Iovance Biotherapeutics Inc (NASDAQ:IOVA) is no exception. The company reported solid data for its cancer treatment for solid tumors, triggering a flood of upbeat analyst attention -- not to mention accelerated bullish betting in IO...Read More
Rebar suppliers have increased their prices for buyers in Russia's Central federal district, the major steel-consuming region in the country, on an improvement of the export billet market in late May.Fastmarkets' weekly price assessment for domestic 12mm A500C rebar in Russia, including 20% VAT, was 40,000-40,500 roubles ($611-618) per tonne cpt Moscow on Monday June 3. This was up from 39,000-39,...Read More
The DoJ is reportedly preparing to probe Alphabet for violating antitrust lawShares of Google parent Alphabet Inc (NASDAQ:GOOGL) are tanking this afternoon, last seen down 6.2% at $1,039.03, after news broke that the U.S. Justice Department (DoJ) is allegedly planning an antitrust probe into the tech giant.In response, Evercore ISI was quick to slam GOOGL with a Street-low price-target cut to $1...Read More
Already legal in 30 states, the tide is turning for medical marijuana.It seems like everyone is looking for a way to make money from the legal marijuana boom...But many don't want to roll the dice and risk their hard-earned money on a penny stock, or spend hours learning how to buy shares of a grower on some Canadian exchange.But there is good news.Marijuana profit-sharing plans are here, and one...Read More
By: Daniel R. Amerman, CFA Sifting through the minutes of the Federal Open Market Committee (FOMC) to look for signals of changes in policy is a fixation for the financial media and the investment industry. Because both the stock and bond markets can reverse directions based upon the Fed's intentions for the direction of Fed Funds rates, there is an intense focus on finding signals for those in...Read More
Gold's $30 run-up over the last two sessions is the sharpest we've seen in a while. Was it just a knee-jerk reaction to continuing weakness in U.S. stocks? Probably. But we'll keep a close eye on it nevertheless, since gold sentiment is so negative, sometimes verging on despair. Many investors who have followed bullion's bear market closely since prices peaked eight years ago just above $1900 se...Read More
By: Ira EpsteinGold came alive as the markets brought rates down. Gold still very much sideways on long-term view. It has been a long time!Read More
Pullbacks to KDP's 80- and 100-day moving average have bullish implicationsBeverage stock Keurig Dr Pepper Inc (NYSE:KDP) nabbed a record high of $29.76 back on May 15. Since then, however, the shares have logged three straight weekly losses, sending KDP toward two key trendlines that have historically bullish implications. In other words,the security could be eyeing its next surge higher.Specifi...Read More
Here are five Fastmarkets MB stories you might have missed on Monday June 3 that are worth another look.In copper, Chile's state-owned producer Codelco halted part of its operation at the El Teniente mine following an accident on Sunday June 2. Separately, Aurubis has entered into a long-term supply contract with Teck Resources to source concentrates over a 10-year period from the s...Read More
The Nasdaq, meanwhile, is still in the redThe Dow Jones Industrial Average (DJI) was down triple digits earlier, as a fresh set of trade fears emerged after the Chinese government released a critical white paper over the weekend. The big-cap index has since swung to a 67-point lead on strong gains for several blue chips, including Merck (MRK), Verizon (VZ), and Walgreens Boots Alliance (WBA). And...Read More