Wall Street considered ugly housing data and a strong consumer confidence report U.S. stocks traded on both sides of breakeven today, as traders digested earnings, economic data, and commentary from Fed Chair Jerome Powell. The Dow ultimately ended lower, on Home Depot's (HD) poor earnings reaction and an analyst-induced Caterpillar (CAT) pullback, while tech strength couldn't keep the Nasdaq and...Read More
Credit Suisse just slashed its price target to $16 from $17A price-target cut from Credit Suisse to $16 from $17 in the wake of the company's fourth-quarter earnings report has Range Resources Corp. (NYSE:RRC) stock slipping today. The energy shares are now now trading down 5% at $10.46. This negative price action echoes the stock's longer-term trend, with RRC shedding over 50% from its mid-Oct...Read More
The stock is down almost 8% todayWhile the U.S. stock market is struggling for direction today, there are several individual names making notable moves, including big-cap bank JPMorgan Chase & Co. (NYSE:JPM), nutritional supplement retailer Vitamin Shoppe Inc (NYSE:VSI), and document database provider MongoDB Inc. (NASDAQ:MDB). Here's a quick roundup of what's moving the shares of JPM, VSI, and MD...Read More
Lowe's is slated to report earnings tomorrow morning Next in line in the earnings confessional is Lowe's Companies, Inc. (NYSE:LOW) -- the home improvement name is slated to report its fourth-quarter results before the market opens tomorrow, Feb. 27. LOW shares are suffering today, however, after competitor Home Depot (HD)revealed a disappointing full-year forecast. At last check, the retailer is...Read More
A judge ordered Musk to respond to the SEC motion by March 11Controversy follows Elon Musk like a moth to light. Yesterday, the Securities and Exchange Commission (SEC) asked that the Tesla CEO be held in contempt over tweets that seemingly violated his fraud settlement. Today, a judge ordered Musk respond to the SEC motion by March 11. The order from the U.S. judge comes after Musk tweeted out...Read More
Barrick wants to buy Newmont. Trump wants a deal with China. Palladium wants to fly into space. And what does gold want?Will Barrick and Newmont Create Gold Monster?Do you remember our January 24, 2019 edition of the Gold News Monitor? We analyzed in that report the historic transaction in the bullion industry, i.e. the Newmont Mining’s purchase of Goldcorp, which will create the world&rsquo...Read More
AAL stock just ran into a bearish technical indicator The shares of American Airlines Group Inc (NASDAQ:AAL) have taken a beating since hitting their peak of $59.08 in January last year. Since then, the shares have been in a channel of lower highs and lows. And while AAL stock has gained roughly 27% since bottoming out at two-year lows of $28.81 on Jan. 3, its next leg lower could be just around t...Read More
1. The biggest driver of major markets right now is the possibility of a US-China trade deal.2. On that note, please click here now. The US government's wild launch of tariff taxes caused global markets to swoon in the first half of 2018. Gold and the Chinese stock market were hurt more than a lot of other markets.3. Gold has done well with QE, QT, falling rates, and rising...Read More
By: IRA EPSTEINGold Price action consolidating in narrowing ranges. 18 day average is key (~1322.70$)Read More
The recent plunge in Heinz-Kraft shares reminds us that even Warren Buffett can make a mistake. A couple of years ago, it might have seemed as though the Sage's portfolio was impervious to downturns, given its heavy focus on the basics: food chain, railroads and insurance companies. As it happens, his bet on such time-tested brands as Oscar Mayer, Jell-o, Kraft Singles, Kool Whip and Cheez-Whiz...Read More
The correction in industrial metals was a case of "buy the rumour and sell the fact". The rumour was a trade deal between USA-China. Now that the trade deal is more or less a done deal, there was profit booking. There can be more corrections in industrial metals and thereafter a period of consolidation. The next big move will be next week around the release of various US jobs numbers. Once detai...Read More
One stock has ended the month higher just twice in 10 yearsOn Monday, we took a look at the 25 best stocks to own in March, historically. Today, we're shifting gears to analyze the 25 worst stocks for next month. At the top of the list is fertilizer manufacturer CF Industries Holdings, Inc. (NYSE:CF), which is also flashing a bearish technical signal on the charts.Below are the worst S&P 500 Index...Read More
The time to invest is now, according to one economist.The man who warned of the 2001 tech crash, the 2008 subprime financial disaster and oil's shocking fall in 2016 - years before they happened - has issued a new earth-shattering statement:"Right now, the markets are giving investors a critical window to rapidly boost their retirement savings before the greatest stock market crash in American his...Read More
The beauty stock has tended to outperform in MarchThe shares of Ulta Beauty Inc (NASDAQ:ULTA) have put in a strong performance since bottoming at an eight-month low near $225 in late December, up 37% at $308.39. There could be more upside in store for the beauty expert, too, considering it's been one of the best stocks to own in March, looking back 10 years.Specifically, data from Schaeffer's Seni...Read More
TheGreen New Deal is silly and not worth our attention. It implies we can haveanything we want if the Federal Reserve extends credit.Letme blow your hair back for a second.Thetwo biggest US stock market rallies (in the 1920s and in 1990) occurred whenthe budget deficit was disappearing or had disappeared.CalvinCoolidge led the US through most of the Roaring Twenties. And he is perhaps thesecond-le...Read More
Import prices for steel slab in Southeast Asia and East Asia moved up again over the past week amid higher offers and limited availability, although no transactions were heard due to the large bid-offer spread.Fastmarkets' weekly import price assessment for slab imports to Southeast Asia and East Asia was $460-480 per tonne cfr on Monday February 25, widening upward by $10 per tonne from $460-470...Read More
The Dow was down triple digits earlierThe Dow Jones Industrial Average (DJI) is modestly higher at midday, swinging into positive territory after spending most of the morning in the red thanks to a negative earnings reaction for Home Depot (HD). The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) have also erased earlier losses, as investors digest the latest remarks from Fed Chair Jerome Pow...Read More
Aphria just signed an agreement to create cannabis-based transdermal patchesThe shares of Aphria Inc (NYSE:APHA) are up 3.7% at $10.05 in early trading, after the marijuana concern said it signed an agreement with Manna Molecular Science to create new cannabis oil transdermal patches for medical and recreational use. As part of the agreement, Aphria has exclusive licensing rights to the product fo...Read More
FAST has added 15.5% year-over-year Fastenal Company (NASDAQ:FAST) is up 15.5% year-over-year and has already added 19.8% in 2019. During this climb, the stock overcame staunch technical resistance located at the $60 level, and in early February successfully re-tested this area as support. FAST has gone on to trade above its October and December 2018 highs, and shrugged off a KeyBanc downgrade to...Read More
The Gold suppression game appears finally tobe coming to an end. A Perfect Storm ishitting the Gold market, with an internal factor (QE), an external factor (SGE),and a systemic factor (Basel). These factors can be identified, each verypowerful, each with a very new recent twist to alter the landscape. Allthree forces are positive in releasing Gold from the corrupt clutches of theAnglo-American ba...Read More