- Hubert MoolmanPreviously, I have shown how we could be close to major financial/monetary crisis. The following chart that shows the ratio of gold to the monetary base was used:The chart shows the ratio of the gold price to the St. Louis Adjusted Monetary Base back to 1918. That is the gold price in US dollars divided by the St. Louis Adjusted Monetary Base in billions of US dollars. (from...Read More
2 big winners in today's tradingStocks are holding positive territory as they eye their best week of the year. Two names to watch today are online retailer Revolve Group (NYSE:RVLV) and weed producer Aphria Inc (NYSE:APHA). Below is a quick look at how the shares of RVLV and APHA are trading today. Revolve Shares Soar in IPO SessionOnline apparel retailer Revolve Group is watching as its stock jum...Read More
In recent days the market has moved from expecting a rate cut by January 2020 to now expecting as much as three rate cuts by then. As a result both Gold and gold stocks launched higher, forming a “three white soldiers” bullish reversal pattern. Last week and in previous writings, we noted the importance of the actual rate cut for Gold and gold stocks. Their performance in both nominal...Read More
GLD options are seeing heavy trading todayGold prices have been red-hot amid recent trade tensions, and today, August-dated gold futures locked up their eighth straight daily win as a weak jobs report weighed on the U.S. dollar. Below, we'll take a look at what this hot streak has done for gold exchange-trade fund (ETF) SPDR Gold Trust (GLD).At last check, GLD was up 0.8% to trade at $126.77, and...Read More
Weekly 6/7 and standard September call options are hot todayGrubHub Inc (NYSE:GRUB) stock is trading up 3.3% at $65.22, on reports investment research firm Hedgeye thinks the food delivery name could be bought out by Amazon (AMZN). In addition, the analyst allegedly sees 60% to 100% upside for GrubHub shares. GRUB options traders are getting in on the action, too, placing bullish bets at an aggres...Read More
NEPT is pacing for its best day in nearly a yearPenny stock Neptune Wellness Solutions Inc (NASDAQ:NEPT) is near the top of the Nasdaq today, after the nutrition concern inked a three-year extraction deal with cannabis concern Tilray (TLRY). The company's first shipment of biomass is expected in September. At last check, NEPT stock was up 20.2% at $4.77, and options traders are betting on a short-...Read More
Analysts have not been a fans of HPQ Tech specialist HP Inc (NYSE:HPQ) is moving cautiously higher this afternoon, last seen up 0.8% at $19.83. The shares are eyeing their fourth straight positive close, but are nearing a historically bearish ceiling. HP stock also remains 15% lower year-over-year, signaling that now may be a good time for bears to get betting. Specifically, the security has move...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
Meanwhile, CAT shares seemed to have burned call sellersTech stocks Apple Inc. (NASDAQ:AAPL) and Microsoft Corporation (NASDAQ:MSFT) are the top Dow performers at midday, as the sector tries to recover from recent weakness. In fact, the latter has rallied to fresh record highs. In response, weekly options are seeing heavy trading. Starting with AAPL, the weekly 6/7 series is seeing a ton of attent...Read More
President Trump announced a 5% tariff on Mexican goods. It added to the concerns about the state of the U.S. economy and prompted the Fed officials to soften their language. With no end to the U.S. - China trade dispute in sight, gold jumped above $1,330 in response. Can it move higher still?Gold Rises on Trade TensionsGood news for the gold bulls! As the chart below shows, the price of the yellow...Read More
Weak jobs data has fueled expectations the Fed will ease borrowing costsThis morning's dismal jobs data has ramped up expectations the Fed will lower interest rates, with CME Group now estimating a 25.8% chance of a rate cut at the central bank's June meeting, compared to a 10% probability one month ago. As such, traders are flocking to riskier assets, with the Dow Jones Industrial Average (DJI) p...Read More
Options traders will be monitoring the two names, as wellTwo stocks to watch today are marketing software specialist HubSpot Inc (NYSE:HUBS) and current Wall Street darling Beyond Meat Inc (NASDAQ:BYND). For HUBS shares, it's a new "buy" rating at Goldman Sachs that has them trading up 3.9% at $175.58. The brokerage firm also set a monster $223 price target, representing upside of nearly 32% from...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
CRISPR and Vertex are expanding their gene therapy collaborationThe shares of CRISPR Therapeutics AG (NASDAQ:CRSP) are up 13.2% to trade at $42.18 this morning, after the drugmaker announced an expanded gene therapy collaboration with Vertex Pharmaceuticals (VRTX). CRISPR could receive up to a total of $1 billion in payments if the gene editing programs' milestones are achieved. CRISPR stock is...Read More
Onesurprising news was followed by another surprising news. First, Trump told theworld about his plan to keep increasing tariffs on Mexico, defying his ownparty. Then, no hint of relief had come regarding the China trade dispute.Finally, we have got the Feddiscussing potential interest rate cuts. Investors have aggressivelyincreased their bets on such monetary policy easing. Gold definitely welcom...Read More
The cloud concern beat both top- and bottom-line estimates in the first quarterZoom Video Communications Inc (NASDAQ:ZM) stock has shot up 19.4% to trade at $94.82, and earlier nabbed a record high of $98.89, after the remote conferencing services specialist took its first turn in the earnings confessional as a publicly traded company. For the first quarter, ZM recorded a surprise profit of 3 cent...Read More
TXMD has closed flat or higher for the past five sessionsPharmaceutical name TherapeuticsMD Inc (NASDAQ:TXMD) is up 2.2% at $3.29, after the company shared that it has entered an agreement to commercialize its two women's menopausal drugs, Bijuva and Imvexxy, outside the U.S. The deal will bring in ?,?14 million up front, and another ?,?29.5 million following sales, met milestones, and royalties....Read More
Traders are reacting to another weak jobs report Stocks could be set for a rocky open, with all eyes on the May jobs report. The Labor Department's numbers showed nonfarm payrolls increased by just 75,000 last month, 100,000 fewer than expected, while the growth in wage gains was also weak. This follows a disappointing ADP jobs data from Wednesday, and will stir more chatter about a potential rate...Read More
Global aluminium billet premiums were mostly flat on Friday June 7 due to a lack of spot business, but the premium in Spain fell to its lowest since August 2017.Global aluminium billet premiums were mostly flat on Friday June 7 due to a lack of spot business, but the premium in Spain fell to its lowest since August 2017. Billet premiums in Germany, Italy stable Limited spot activity in US Argentin...Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 240,47784,36256,898132,517305,093429,892446,353 Change from Prior Reporting Period 46,014-23,413-5,308-58,7733,849-18,067-24,872 Traders 19872675054278168 Small Speculators LongShortOpen Interest 51,60335,142481,495 -5,5641,241-23,631 non reportable posit...Read More