The equity has plummeted after previous signalsU.S. stocks are in the red for a fifth straight session, as traders jeer an ugly February payrolls report and a steep drop in Chinese exports. What's more, one China-based stock could extend its recent downtrend, if history is any indicator. Below, we'll take a look at why short-term bears may want to target Chinese e-commerce concern JD.com Inc (NASD...Read More
Latin America's export prices of hot-rolled coil increased this week, while heavy plate and cold-rolled coil remained stable amid a rise in export offers from Brazilian producers, although few deals were reported.Offers of Brazil-origin HRC were at around $555-560 per tonne fob, with at least one deal being closed to South American countries.Fastmarkets' weekly price assessment for Latin America's...Read More
An ugly payrolls report and China's export drop are weighing heavy on stocksStocks are notably lower in afternoon trading, as U.S. jobs data came in well below expectations. Specifically, the slim 20,000 job growth for February, combined with China's steep drop in exports, has the Dow Jones Industrial Average (DJI) down triple digits. The blue-chip index -- alongside the S&P 500 Index (SPX) and...Read More
GME gapped lower in January on crushed M&A hopesThe shares of GameStop Corp. (NYSE:GME) are sharply lower today, down 6.1% to trade at $10.80. BofA-Merrill Lynch downgraded the video game retailer to "underpeform" from "neutral," while slashing its price target to $9 from $12. The analyst in coverage anticipates deteriorating fundamentals as the industry shifts to streaming.GameStop stock earlie...Read More
A free tool can help traders bank big during the upcoming earnings season. Too many investors let their portfolios slip during the busy holiday season, but this is a huge mistake... especially with the market moving events just around the corner!With the crazy market action investors have been seeing lately, right now is the time to prepare to bank big wins.It's important for investors to positio...Read More
BIG has added 21% year-to-dateShares of Big Lots, Inc. (NYSE:BIG) are higher this morning, after the retail chain announced better-than-expected fourth-quarter earnings and same-store sales. CEO Bruce Thorn described a "meaningful sales acceleration in December and January" as the driver behind the impressive numbers. In response, BIG is up 10.1% at $35.06 in today's trading. Long term, Big Lots...Read More
Fastmarkets AMM attended the annual convention of the National Association of Steel Pipe Distributors (NASPD) on Thursday March 7 and Friday March 8 in New Orleans. Here are five themes gleaned in the sessions, on the sidelines and at the soirees.The US Gulf Coast is excited about China LNG import rumors. Reports that China may agree to buy an immense amount of liquefied natural gas (LNG) exp...Read More
The brokerage firm slashed its XOM price target by 25%The shares of Exxon Mobil Corporation (NYSE:XOM) are trading down 1.6% at $78.85, after Cowen and Company downgraded the big-cap energy name to "market perform" from "outperform," citing concerns over the company's recently announced plans to boost capital spending. The brokerage firm also slashed its XOM price target by 25% to $75 , saying the...Read More
Gold has bounced back strongly from six-week lows on global growth worries, forming a bullish hammer on the weekly chart. As of writing, the yellow metal is trading at $1,300, representing 0.45 percent gain on a weekly basis. A bounce from lows near $1,280 was overdue as technical charts were reporting bearish exhaustion in Asian session today and the case for a corrective rally to $1,...Read More
AMZN shares have traded in a tight range recentlyEarlier this morning, the New York Post reported that an Amazon-led group was nearing a $3.5 billion deal for YES Network, New York's prominent cable sports channel. The e-commerce giant wouldhave control of streaming to New York Yankees and Brooklyn Nets games. More notably, Democratic presidential candidate Sen. Elizabeth Warren just proposed a pl...Read More
There were widespread rises in global ferrous scrap prices in the week ended Friday March 8, due to stable demand from end-users in key importing markets, Fastmarkets heard.Turkish steelmakers were buying imported materials to shore up their inventories, while buyers in Asia were purchasing spot cargoes to hedge against future price increases.TurkeyScrap prices in the Turkish import market began t...Read More
The LaCroix parent's CEO said the company is "truly sorry"The shares of National Beverage Corp. (NASDAQ:FIZZ) are down 25.3% at $51.01 in early trading, after the LaCroix parent reported disappointing earnings and revenue for its fiscal third quarter. National Beverage CEO Nick Caporella said the company is "truly sorry" for the nearly 40% drop in profit, and said "much of this was the result of i...Read More
JPMorgan thinks Costco could announce a special dividendCostco Wholesale Corporation (NASDAQ:COST) is trading up 4% at $225.50, after the company's fiscal second-quarter earnings came in substantially higher than analysts expected, with investors applauding an easing of pricing pressure in the grocery business. Several price-target hikes have come through following the report, and UBS set the high...Read More
This is the worst jobs report since September 2017Dow Jones Industrial Average (DJI) futures are trading 185 points below fair value, with the blue-chip index poised to extend its daily losing streak. Stocks are under a double-dose of pressure after China reported a 20% year-over-year drop in exports last month, fueling concerns about a global economic slowdown. And back home, investors are diges...Read More
UK prices for alloy steel scrap have moved up over the past week due to higher costs for nickel, sources told Fastmarkets on Friday March 8.Fastmarkets' weekly price assessment for domestic UK 18/8 stainless steel scrap solids was ?830-870 ($1,090-1,143) per tonne delivered on March 8. This was up from ?800-840 per tonne delivered a week earlier, reflecting transactions heard in the market."Nick...Read More
After gold's move up from its September 2018 low, remaining patient a while longer should provide an even better entry point for the sector.Lower levels into the $1,112 region in gold and the $15.50 region in GDX are still very much in the cards.We will be watching the retracement levels closely on the next pull back.When the metals and miners complex start a sustaining move to the upside, it...Read More
Artificial intelligence may revolutionize trading.Sometimes watching the market can feel like riding a roller coaster.Many investors feel glued to the news, watching the market rise and fall hundreds of points, day after day, week after week.But savvy traders know these market conditions mean huge profit potential for anyone that knows how to trade them.And one "secret" that more and more traders...Read More
PLEASE NOTE: THE COT REPORT SCHEDULE IS NOW UP-TO-DATE & ON ITS NORMAL SCHEDULE WITH THE RELEASE OF THIS REPORT. Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 202,628114,61059,730155,732269,729418,090444,069 Change from Prior Reporting Period -34,20713,471-5,6729,690-36,158-30,189-28,359 Traders 18568814952269168 Small Speculator...Read More
The widely-held mega-cap stocks that dominate the US markets recently finished reporting their Q4'18 financial results. Because the tenor of stock markets changed radically last quarter, this latest earnings season is more important than usual. An extreme monster bull market suddenly rolled over into a severe near-bear correction in Q4. How major corporations fared offers insights into whe...Read More
The current stock bull market, already the longest in U.S. history, turns 10 years old this month. It's been a phenomenally profitable time to participate, especially if you've stuck to an investment strategy that favors dividend-paying stocks. As you can see in the chart below, the amount of cash that S&P 500 Index companies have returned to shareholders has grown each year since 2009. In the f...Read More