Vietnam aims to start six new steel projects by the end of 2020, according to the Vietnam Steel Association.This would add a total of 6.2 million tonnes per year of finished and crude steel capacity on top of its fast-growing ferrous industry and bring its total steel capacity to 30.15 million tpy.Company: An Hung Tuong Location: Nghi Son, Thanh Hoa Capacity: 1.5 million...Read More
Multiple bear notes have hit the healthcare sector todayMultiple brokerage firms have just made big calls for the healthcare sector. Three names hit with the equivalent of a "sell" rating today are lab equipment specialist Mettler-Toledo International Inc. (NYSE:MTD), diagnostics services provider Quest Diagnostics Inc (NYSE:DGX), and drugmaker Teva Pharmaceutical Industries Ltd (NYSE:TEVA). Barc...Read More
The Nasdaq, however, is clinging to gainsThe Dow Jones Industrial Average (DJI) is hovering just below breakeven at midday,pulling back from an all-time peak, as the blue-chip index's fourth straight win appears in jeopardy. The S&P 500 Index (SPX) is also in the red, and its five-day streak is in danger, despite touching a fresh intraday record high at the open.A post-earnings reversal lower for...Read More
Citi says to quit buying these retail stocksThe shares of Tiffany & Co. (NYSE:TIF) and L Brands Inc (NYSE:LB) are trading in the red this morning due to bearish analyst attention at Citigroup. Let's take a quick look at the bear note and how TIF and LB stocks are trading. For TIF, Citi downgraded its opinion to "neutral" from "buy" and cut its price target to $100 from $115. The brokerage firm sai...Read More
ACB was oversold heading into todayOne trading day removed from a nasty bear gap, Aurora Cannabis Inc (NYSE:ACB) is attempting a rebound this morning, last seen up 2% to trade at $6.93. This overdue lift comes after the weed company inked growing operations licenses from Health Canada for two outdoor cultivation sites. Aurora Cannabis stock is fresh off its worst week of 2019. The $7 level, an a...Read More
Avrobio's gene therapy drug proved successful in clinical trialsThe shares of Avrobio Inc (NASDAQ:AVRO) are popping today after the drugmaker announced positive data from its clinical trials of its investigational gene therapy drug AVR-RD-01 in patients with Fabry Disease, as well as an 87% substrate reduction in its first post-treatment kidney biopsy. AVRO is up 7.1% at $15.29 in response.Since s...Read More
Amazon's annual sales event kicked off this morningShares of e-tail powerhouse Amazon.com, Inc. (NASDAQ:AMZN) are inching their way higher this morning, last seen up 0.3% at $2,016.94, as the company's annual Prime Day event kicks off. While the 48-hour sale for Amazon's Prime members is attracting its usual bout of attention, the FAANG stock is catching the eye of analysts.Specifically, Loop Cap...Read More
General Electric shares have rallied 62% since mid-DecemberUBS downgraded General Electric Company (NYSE:GE) stock to "neutral" from "buy," and dropped its price target to $11.50 from $13, saying it's "taking a breather after recent stock outperformance." The brokerage firm noted, however, that it "can start to look increasingly at the [company's] multi-year turnaround/transformation."This follows...Read More
Other bank stocks are enjoying a halo lift Dow Jones Industrial Average (DJI) futures are pointing to yet another record high, and a fourth straight day in the black, as traders digest the first of many bank earnings this week. Specifically, Citigroup (C) posted impressive earnings and revenue for the second quarter, lifting fellow financial stocks Goldman Sachs (GS) and JPMorgan Chase (JPM). The...Read More
Treasury yields haven't done this since 2006 -- until now"Though there are only two samples to work with, history has taught us that big short-term directional moves have occurred shortly after a first touch of a new millennium level, as is evidenced by the 17% advance just five months after the first touch of 1,000, or the 9% pullback only one month after the first close above 2,000."-- Monday Mo...Read More
The dream of building a new world-class copper-gold mine in Pakistan in an area bordering Afghanistan and Iran has been dashed, for now at least. The saga of Tethyan Copper Co's (TCC) efforts to develop the Reko Diq mine found resolution last week with an International Centre for Settlement of Investment Disputes (ICSID) ruling in favor of TCC following a dispute that has rumbled on for years.TCC,...Read More
Ore and alloy prices were stable in most global spot markets in the week ended Friday July 12, with excess supply continuing to put pressure on producers. UG2 ore price, cif China, ticks up; Turkish lumpy ore stable Charge chrome market in China unchanged High-carbon ferro-chrome range ddp Europe widens Ferro-chrome in Japan ticks upward.Falls in the market for chrome ore stalled last week amid su...Read More
"I've never been poor, only broke. Being poor is a frame of mind. Being broke is only a temporary situation." Mike Todd, movie producer, Elizabeth Taylor's third husband; 1903-1958 "It wasn't raining when Noah built the ark." Warren Buffett, Business magnate, investor, speaker, philanthropist, CEO Berkshire Hathaway, b. 1930 "Beware of inside information...all inside information." Jesse Liverm...Read More
By Avi GilburtI can no longer count how many times I have been told that "squiggly lines cannot predict the market." Yet, anyone who has tracked us over the long term knows how successful we have been at predicting many major market turns and targets with these "squiggly lines." In fact, we have done so in many markets including metals, equities, Forex, bonds, etc.The issue that many have with o...Read More
By signaling a move toward easing, Powell has made ready to cushion the U.S. against an economic slowdown that has been gathering force around the world. Although it is never wise to fight the Fed, we should be very guarded this time, scanning the horizon for signs of monetary-policy fissures. They are not likely to be obvious right away, since loosening will initially have a bullish impact on...Read More
The prices of vanadium in both Europe and the United States softened in the week ended Friday July 12 on continuously weakening demand, while prices in China stabilized amid thin spot trading activity. Chinese ferro-vanadium market stalls amid low spot activity European ferro-vanadium prices drop to less than $30 per kg, weak demand continues V2O5 prices in China move up amid rising buying interes...Read More
The three-month tin price on the London Metal Exchange fell by 2% at the close of trading on Monday July 15, dipping below the nearby $18,000 per tonne support level despite a predominantly positive trading session for the rest of the complex. Trading volumes were high for tin over the afternoon, with more than 450 lots of tin exchanged by the close. The metal's three-month price reached an intrad...Read More
Here are five Fastmarkets MB stories you might have missed on Monday July 15 that are worth another look.In copper, the World Bank's International Centre for Settlement of Investment Disputes has awarded $5.84 billion in damages to Tethyan Copper Co Pty Ltd, Antofagasta said on Monday July 15. Separately, Fastmarkets summarizes five key points to take away from the one-day Yantai Copper...Read More
What is an alkaline-related gold system? How to tell it apart from other auriferous mineralizations? Why is it important?Below, I present a brief introduction of the alkaline gold system, highlighting its salient characteristics.In picking gold mining stocks, investors should recognize the implications of potential occurrence of alkaline-related gold mineralization.Image credit Alkaline-related ep...Read More
The dream of building a new world-class copper-gold mine in Pakistan in an area bordering Afghanistan and Iran has been dashed, for now at least. The saga of Tethyan Copper Co's (TCC) efforts to develop the Reko Diq mine found resolution last week with an International Centre for Settlement of Investment Disputes (ICSID) ruling in favor of TCC following a dispute that has rumbled on for years.TCC,...Read More