China's rebar prices regained some upward momentum on Thursday June 27 on early gains in the futures market.Domestic Eastern China (Shanghai): 3,940-3,980 yuan ($573-579) per tonne, up 30-40 yuan per tonneNorthern China (Beijing): 3,800-3,840 yuan per tonne, up 30-40 yuan per tonneRebar futures rose to a high of 4,095 yuan per tonne in the morning, which led traders in the spot market to take thei...Read More
Danielle DiMartino Booth spent nine years as an advisor to Richard W. Fisher at the Federal Reserve Bank of Dallas. Danielle left the Fed in 2015 to found Money Strong, LLC, an economic consulting firm and launched a weekly economic newsletter She is the author of Fed Up: An Insider's Take on Why the Federal Reserve is Bad for America. DiMartino Booth began her career in New York at Donaldson, Luf...Read More
Monthly European alloy surcharges for July deliveries of stainless steel products will be lower than the June surcharge after the price of nickel continued to fall.Fastmarkets' alloy surcharge for July deliveries of grade-304 cold-rolled stainless sheet is set to fall to ?,?1,318-1,362 ($1,498-1,548) per tonne, down ?,?18-21 per tonne from June's surcharge levels, according to calcu...Read More
European steelmakers voiced their concerns over the future viability of the UK steel industry, should the UK leave the European Union on October 31 without a deal, at the European Steel association's (Eurofer) European Steel Day in Brussels on Wednesday June 26.A "no deal" Brexit would mean the UK would leave the EU, and all related agreements and bodies, without a transition period. No preferenti...Read More
This young company features projects in established prolific and mining-friendly areas. In the few years that Black Tusk Resources Inc. (TUSK:CSE; BTKRF:OTC) has been around it was formed in 2016 and went public in November 2017 it has managed to procure two projects in highly prolific areas of Canada. The company's flagship project, Golden Valley, sits in the Abitibi Greenstone Belt in western Q...Read More
Expectations for the project report and speculation about recent trading activity are given in an iA Securities report. In a June 25 research note, iA Securities analyst George Topping reported that Rubicon Minerals Corp. (RBY:NYSE.MKT; RMX:TSX) intends to release the preliminary economic assessment (PEA) on its Phoenix gold project in Q3/19. Topping noted that much of the necessary aboveground i...Read More
Impressions from the tour and what they mean for the next resource estimate update are presented in a CIBC report. In a June 21 research note, analyst Bryce Adams reported that CIBC raised its target price on Osisko Mining Inc. (OSK:TSX) to CA$4.50 per share from CA$3.50. In comparison, the company's stock is currently trading at around CA$3.30 per share.The increased target comes after CIBC visi...Read More
The move renews and expands the partnership between the two entities. Victoria Gold Corp. (VIT:TSX.V) announced in a news release that one of its largest shareholders, Orion Mine Finance, will increase its ownership interest in the gold exploration and development company.To do so, Orion fund Orion Co-VI Ltd., will purchase all of the 154,517,996 common shares of Victoria Gold that Osisko Gold Ro...Read More
The Canadian firm aims to start construction at the Zacatecas asset in H1/20. Orla Mining Ltd. (OLA:TSX; ORRLF:OTCMKTS) announced in a news release the positive feasibility study results on its Camino Rojo oxide project in Mexico.Generally, the study "supports a technically simple, open-pit mine and heap-leach operation with low capital and operating costs providing rapid payback and a strong fin...Read More
(Adds budget details, outside comments)By Orhan CoskunANKARA, June 27 (Reuters) - Turkey's government is revivingplans to transfer the central bank's 46 billion lira ($8billion) in legal reserves to its deteriorating budget to shoreit up and is also considering adjusting some tax measures as itbattles recession, sources said.A Treasury official and three other sources familiar withthe plans confir...Read More
A rough outing from Boeing weighed on the Dow todayThe Dow finished with a modest loss today, as a rough day for Boeing (BA) overshadowed a post-earnings surge from Walgreens Boots Alliance (WBA). Elsewhere, all eyes turned to trade ahead of the G-20 summit tomorrow, especially after a Wall Street Journal report indicated Chinese President Xi Jinping is ready to present a set of terms to Presiden...Read More
The company's blood disorder drug received FDA approvalIt's a breakout session for Dova Pharmaceuticals Inc (NASDAQ:DOVA), after the Food and Drug Administration (FDA) approved the company's blood disorder drug, Doptelet. At last check, DOVA shares were up 22% at $13.01 -- near the top of the Nasdaq, and pacing for their best day ever -- and options traders are rushing the pharma stock.Most recent...Read More
Cemtrex stock doubled after the firm announced it's received $6 million in orders over the past few monthsThe Dow has pared its gains after Larry Kudlow's tariff comments spooked investors. Several individual stock are surging, though, including tech concern Cemtrex Inc (NASDAQ:CETX), as well as pharma stocks Zogenix Inc (NASDAQ:ZGNX) and Novavax Inc. (NASDAQ:NVAX). Here's a look at what's movin...Read More
Walmart stock was ripe for bulls in late MaySubscribers to Schaeffer's Weekend Trader Alert service justdoubled their moneywith the Walmart Inc (NYSE:WMT) September 100 call option recommendation. Below, we'll explain how this options trade hit its expected target, leaving speculators with a big win.When we initially recommended the call to subscribers on Sunday, May 26, the shares of retail pow...Read More
The G20 Summit, which takes place in Osaka, Japan, this weekend has cast a shadow over the Asian ferrous metals markets.Market participants are hoping a quick resolution to the trade war between China and the United States will provide much-needed relief both for steelmakers and downstream buyers at a time of squeezed margins and weak demand.One of the key themes at t...Read More
Goldman, however, took a decidedly bearish stance on the namesGoldman Sachs just downgraded retailers Nordstrom Inc (NYSE:JWN) and Ross Stores Inc (NASDAQ:ROST) to "sell" from "neutral," this morning. The analyst said it was taking a "conservative stance" on the retail sector, adding that it's "increasingly concerned about the impact of potential supply chain disruption resulting from tariff uncer...Read More
Etsy options are attractively priced at the moment, tooOnline retailer Etsy Inc (NASDAQ:ETSY) has struggled recapture its technical tenacity from earlier in the year. Fortunately, there's a reliable signal sounding that indicates a another breakout could be imminent, if history is any guide.More specifically, Etsy stock is now within 2% of its 160-day moving average. Since its inception, there h...Read More
European steel mills could further reduce steel production should the volume of steel imported into the European Union continue to increase, market participants said at the European Steel Day in Brussels, Belgium, on Wednesday June 26."The markets for many steel products in Europe are rather weak. So nearly every steel company is forced in one way or another to cut production," Heinz J??rg Fuhrman...Read More
The S&P and Nasdaq are up modestly at middayIt's a choppy trading session on Wall Street today, as Wall Street gets blitzed with trade buzz before this weekend's meeting between U.S. President Donald Trump and Chinese leader Xi Jinping at the G-20 summit. Most recently, top White House economic advisor Larry Kudlow said no preconditions have been arranged for the meeting, and the U.S. could implem...Read More
These stocks tend to wilt in the summer monthsThe stock market has been red-hot in June, with the S&P 500 Index (SPX) fresh off a recent record high. Turning our attention to July, however, several equities could begin to wilt, if history is any guide. Among the worst stocks to own in July is cloud concern Akamai Technologies, Inc. (NASDAQ:AKAM), while packaged food titan Campbell Soup Company (NY...Read More