One chip stock could extend its weekly losing streak to nineThe Fed will hold its two-day policy meeting next week, with the central bank's interest rate decision due at 2 p.m. ET on Wednesday, June 19. While CME Group's FedWatch tool pegs the odds of a June rate cut at less than 25%, traders will undoubtedly dissecta post-meeting presser with Fed Chair Jerome Powell for more hints of a July rate...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
Twitter pulled back to a trendline with bullish implicationsSocial media powerhouse Twitter Inc (NYSE:TWTR) looks to be flashing a noteworthy bull signal, just one day after dropping on a price-target cut out of Moffett Nathanson. Below, we will take a look at how TWTR has been moving on the charts, and why now looks to be the perfect time to jump on the tech name's next surge higher.Per data fr...Read More
ALGN options are a bargain right now tooThe shares of Align Technology, Inc. (NASDAQ:ALGN) are down 0.7% to trade at $309 today, after the Invisalign parent terminated a development and distribution agreement with Straumann Group. Nevertheless, ALGN is flashing a bullish signal that points to a rally as soon as next week, if history is any indicator. Diving right in, Align Technology stock made...Read More
Broadcom blamed the Huawei export ban for its downwardly revised guidanceStocks are trading modestly lower at midday, as traders digest a revenue warning from Apple supplier Broadcom (AVGO) -- which said full-year revenue will come in $2 billion below its previous estimate on U.S.-China trade headwinds -- and lower-than-expected readings on Chinese industrial output and retail sales for May. At la...Read More
Asset Rich OPEC Nation Ecuador Opens to Mining.Recently Elected President Lenin Morena Establishes Mining Ministry and Repeals 70% Windfall Tax.Seeks to Establish Goal to Attract $3.7 Billion in Mining Investments and Add $826 Million to Tax Coffers in Next Two Years.Ecuador is the World's Last Unexploited Location to Find Tier 1 Discovery.Could Make the California Gold Rush (1848) Look Like C...Read More
Primary aluminium foundry alloy premiums in Europe were steady on Friday June 14 in an illiquid market.Fastmarkets assessed the premium for silicon 7 aluminium wheel alloys over London Metal Exchange cash prices delivered to the Ruhr region with 30-day payment terms at $340-360 per tonne on Friday. It has been at that level since April.Bearish sentiment stemming from the European automotive sector...Read More
Take advantage of the first amendment, and participate in a nation-wide poll.With the 2020 election growing ever closer, the country continues to be divided politically.From disputes about the appropriateness of displaying the Confederate flag, to rights for minorities, and the ever-growing concern about security at the U.S. border, the 2020 election promises to be contentious... if not the most c...Read More
Maxim also weighed in on HEB sharesAchieve Life Sciences Inc (NASDAQ:ACHV) has had a volatile year on the charts, making several sharp moves in both directions in 2019. Today, the shares are slightly lower, trading at $2.64, despite brokerage firm Maxim beginning coverage with a "buy" rating and $6 price target. Before today, Ladenburg Thalmann was the only firm covering ACHV shares, just raising...Read More
Global ferrous scrap prices were mostly on a downward trend in the week ended Friday June 14 due to ample supply from key exporters and limited demand from buyers.While there were numerous bookings into the key Turkish market, the transactions were made at falling prices. This led to buyers in Asia shying away from purchasing cargoes because they expected the price downtrend to continue. Turkey bu...Read More
The chipmaker said full-year revenue will be $2 billion less than previously estimatedBroadcom Inc (NASDAQ:AVGO) stock is taking a big hit post-earnings, with the Apple supplier recording fiscal second-quarter revenue of $5.52 billion, less than the $5.68 billion analysts were expecting. What's more, the chipmaker slashed its full-year revenue forecast, citing headwinds from the U.S.-China trade c...Read More
Rosenblatt Securities applauded growing profit marginsMedia giant Comcast Corporation (NASDAQ:CMCSA) is 0.7% higher at $42 this morning, after scoring a fresh "buy" rating and $50 price target from Rosenblatt Securities. The firm cited the company's growing cable profit margins and broadband market share for the catalyst behind the bull note.This type of analyst sentiment is far from unusual for...Read More
German steelmakers have settled their monthly scrap contracts for June at prices that are either unchanged or with a decrease of ?,?5 ($6) per tonne month-on-month, sources told Fastmarkets.Fastmarkets' monthly price assessment for domestic grade-E3 scrap in Germany was ?,?260-270 ($293-305) per tonne delivered on Friday June 14, compared with ?,?260-275 per tonne delivered in mid-May.Mills in the...Read More
Kura said a Phase 2 clinical study for its lymphoma drug met its primary endpoint Drugmaker Kura Oncology Inc (NASDAQ:KURA) just announced that its ongoing Phase 2 clinical trial for its experimental lymphoma drug, tipifarnib, met its primary endpoint today. The cancer researcher said the treatment's results yielded "ongoing anti-tumor activity and a manageable safety profile." KURA shares are hig...Read More
Most analysts are still bullish on RIG, thoughOil-and-gas stocks were in focus yesterday, after the tanker attacks near the Gulf of Oman and the subsequent rise in oil prices. This put drilling issue Transocean Ltd (NYSE:RIG) in the crosshairs yesterday, and even more so today after Citigroup downgraded the stock to "neutral" from "buy" and slashed its price target to $6.70 from $11. In respons...Read More
Nickel's three-month price on the London Metal Exchange was higher at the close of trading on Friday June 14, having reached an intraday high of $12,065 per tonne but failing to close above that mark, while the rest of the complex continued to trade in a downtrend.Volumes traded in nickel were moderately high over the day, with more than 9,000 lots exchanged by the close, second to copper's 11,700...Read More
Broadcom's ugly outlook could weigh on markets todayStocks are set for a weak open this morning, with futures on the Dow Jones Industrial Average (DJI) trading modestly below fair value. Traders continue to monitor tensions between the U.S. and Iran, though oil prices are giving back some of yesterday's gains, with July-dated crude futures down 0.2% at $52.16 per barrel. Meanwhile, semiconductor s...Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 250,11465,87659,835137,719339,746447,668465,457 Change from Prior Reporting Period 9,637-18,4862,9375,20234,65317,77619,104 Traders 19272665756280167 Small Speculators LongShortOpen Interest 48,99531,206496,663 -2,608-3,93615,168 non reportable positionsC...Read More
The gold miners' stocks have surged powerfully over the past few weeks, challenging upleg highs. Traders started returning to this small contrarian sector as gold blasted back above the psychologically-crucial $1300 line. While such early-summer strength is atypical, gold miners' technicals, sentiment, and fundamentals all support more gains to come. Gold stocks need to mean revert to much...Read More
All the pieces are falling into place for the biggest gold bullmarket in history and by the look of the long-term gold chart, it is set to start very soon. The biggest reason of course is the accelerating demise of fiat. There are many other reasons that we will be considering going forward, but the one that looks set to trigger the immediate start of the bullmarket (and has already since the mo...Read More