By: Michael KosaresGold suddenly broke to the upside on the morning of Thursday, May 30th, 2019. After rising nearly $70 - a 5.4% gain and eight-straight days of posting gains, it took a breather on news that Mexico would take steps to stem migrant flow to the United States, thus avoiding the imposition of new tariffs. We asked Zac Storella from Counting Pips, a widely-acknowledged expert o...Read More
* Euro zone periphery govt bond yields (Updates prices)By Virginia FurnessLONDON, June 10 (Reuters) - Euro zone government bond yieldsrose on Monday as markets were cheered by the United States'trade agreement with Mexico, though pessimism about globalgrowth has kept yields pinned near multi-year lows.European shares climbed after the United States on Fridaydropped its threat to impose tariffs on...Read More
Stocks took another bold leap Friday, heedless of payroll data that suggest U.S. employers pulled back on hiring in May across all sectors of the economy. Their clear concern is a global slowdown in China and Europe that appears to be deepening. Copper and crude oil quotes have signaled this as well with a 12% fall in the former and a 20% plunge in the latter. So has the Ten-Year Note, which is...Read More
By: Ira EpsteinGold, there is reason for caution here:Read More
Goldman Sachs is the best Dow stock at middayThe Dow Jones Industrial Average (DJI) is soaring at midday, with the blue-chip index headed for its sixth straight win -- a feat not accomplished since May 2018. Goldman Sachs (GS) stock is at the top of the Dow at last check, as bond yields rally on President Donald Trump's decision to not impose tariffs on Mexico. Additionally, Trump told CNBC earlie...Read More
How you can transform lagging indicators into leading indicators.For hundreds of years, since the first stock exchange opened its doors, every trader has been looking for an edge... Some way to predict what will happen next... And hopefully collect a fat "paycheck" at the end of the road.From Bollinger bands to momentum oscillators, technical indicators have been at the forefront of this constant...Read More
China's finished steel exports fell in May on both a year-on-year basis as well as when compared with the preceding month. The country shipped 5.74 million tonnes of finished steel abroad last month, down 16.5% from a year earlier, according preliminary Chinese customs data released on Monday June 10.Last month's exports are also...Read More
The best part? It's risk-free. In an explosive report a former Lehman Brothers executive reveals one of Wall Street's most closely guarded investing secrets.The secret?A proven system for turning small sums of cash into vast windfalls of profits-without risking a penny in the stock market.Essentially, this system uses the latest advances in computer science and financial technology to give inve...Read More
ADI and RDFN both received "double upgrades"Two stocks that received notable analyst attention this morning were chipmaker Analog Devices, Inc. (NASDAQ:ADI) and real estate name Redfin Corp (NASDAQ:RDFN). Let's take a quick look at the coverage on ADI and RDFN shares. ADI stock is trading up 4.9% at $105.66, after Goldman Sachs upgraded the security to "buy" from "sell," and moved its price targe...Read More
Options traders have favored Microsoft calls for weeksMicrosoft Corporation (NASDAQ:MSFT) is up 1% at $132.80 this morning, fresh off a record high of $133.29, after the big tech name revealed its newest Xbox system at the 2019 Electronic Entertainment Expo (E3). Dubbed "Project Scarlett," the console is reportedly four times more powerful than the Xbox One X. The launch -- planned for the 2020 ho...Read More
Domestic rebar prices in Brazil fell during May as leading steelmakers battle with new participants for market share amid low domestic demand, retreating from announced price increases.Fastmarkets' domestic rebar price assessment was 2,450-2,600 Reais per tonne delivered on June 7, down from 2,600-2,720 Reais per tonne a month prior. The bottom of the price range is at its lowest for this year.Lon...Read More
The brokerage firm initiated coverage with an "underperform" ratingMolson Coors Brewing Co (NYSE:TAP) is down 3.2% at $55.14, after Credit Suisse initiated coverage on the stock own with an "underperform" rating and a $50 price target -- a discount to last Friday's close at $56.97. The brokerage firm said the beer maker faces "significant hurdles in overcoming its portfolio exposure," and that the...Read More
European steelmakers have called for the European Commission (EC) to review its decision to liberalize its import safeguard measures by increasing quota volumes by 5% each year, Fastmarkets has learned.The current safeguard mechanism will increase the level of tariff-free quotas for each product category by 5% after each year. The first liberalization will take place on July 1, 2019 - the end of t...Read More
Virtually every analyst in coverage rates CRM a "buy"This morning, it was announced Salesforce.com, Inc. (NYSE:CRM) will purchase fellow cloud name Tableau Software (DATA) for $15.3 billion. The all-stock deal -- CRM's biggest acquisition ever -- should increase revenue by up to $400 million in 2020, the company said. In response to the news, CRM stock is down 3.8% to trade at $155.04 this mornin...Read More
The ride-hailing company is restructuring its C-suite setup The shares of Uber Technologies Inc (NYSE:UBER) are slightly lower this morning, after CEO Dara Khosrowshai announced last Friday in an internal email that the company's Chief Operating Officer Barney Harford and Chief Marketing Officer Rebecca Messina were resigning, as it shakes up its executive structure. The equity is 0.6% higher,...Read More
Traders are also reacting to buzz on the M&A frontThe Dow Jones Industrial Average (DJI) looks set to extend its win streak today, with futures trading well above fair value this morning. Wall Street is cheering news that President Donald Trump will not be placing tariffs on imports from Mexico, after the U.S. struck a deal with the country over the weekend. Automakers are set for a strong session...Read More
Here's one reason why we could still be in the early innings of last week's rally"In a worst-case scenario, a move down to the SPY 245 strike, or SPX 2,450, remains a possibility into June expiration, as the SPY 245 strike is the last of several heavy put open interest strikes below the market... A move below the 270 and 275 strikes would further increase the possibility of a sharp sell-off by Jun...Read More
Key data from the pricing sessions Europe and the United States for the week-long period to Monday June 10.United States Market sources, including many buyers, agreed that the US silicon price seems to be approaching a floor after declining by at least a few cents per lb every month of 2019.The price for grade-553 silicon has remained nearly flat in thin trading, narrowing to $1.08-1.11 per...Read More
StrengthsThe best performing metal this week was silver, up 3.06 percent, partly on the stronger gold price and on the news that the world's third largest refinery was forced to halt production due to a failed blast furnace. The yellow metal was on fire this week and is heading for its best week in a year. The weekly Bloomberg survey showed that most gold traders and analysts are bullish going...Read More
The three-month price of lead on the London Metal Exchange had gone up by the close of trading on Monday June 10, reaching an intraday high of $1,890 per tonne, while the forward spread on the LME was in its widest backwardation since April 2017.The price of lead continued to rise steadily toward the nearby resistance level of $1,900 per tonne. Despite breaking through that mark last week, it has...Read More