The overhead $29 region looms large after ASHR's "tariff truce" rallyThe Xtrackers Harvest CSI 300 China A-Shares ETF (NYSEARCA:ASHR) is a Beijing blue-chip tracker, as it's meant to reflect the price action of 300 of the biggest and most liquid A-share listings in the Chinese market. ASHR counts among its top 10 holdings such familiar corporate names as Ping An Insurance, China Merchants Bank, an...Read More
This is FCAU's only "sell" ratingOne of the worst stocks on the New York Stock Exchange (NYSE) today is Fiat Chrysler Automobiles NV (NYSE:FCAU), down 4.3% to trade at $13.56, after Goldman Sachs weighed in the European automakers, initiating coverage on FCAU with a "sell" rating. The analyst in coverage sees near-term challenges for earnings growth in North America, as well as other headwinds suc...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday July 16 that are worth another look.United States President Donald Trump signed an executive order on Monday July 15 aimed at maximizing the use of American-made products and materials, the third pillar of his "Buy American, Hire American" plans.The London Metal Exchange will list Huayou's cobalt cut cathodes with imme...Read More
More short covering could lift WGO even higher Shares of RV manufacturer Winnebago Industries, Inc. (NYSE:WGO) have been outperforming on the charts over the past few months, and have spent 2019 in a channel of higher highs and lows. Following the company's June earnings, the stock pulled back to its 50% year-to-date level, and has since bounced higher. Against this backdrop, and with the equity e...Read More
The brokerage firm sees 25% downside in the sharesB. Riley FBR downgraded Adamis Pharmaceuticals Corp (NASDAQ:ADMP) to "sell" from "neutral," and lowered its price target to $1.10 from $1.90 -- a 25% discount to last night's close. In reaction, the penny stock has plunged 4.1% out of the gate to trade at $1.40.It's already been a tough stretch for the shares of the EpiPen rival, which were down al...Read More
Goldman Sachs stock is higher after earnings Dow Jones Industrial Average (DJI) futures are inching higher, setting the index up for another round of all-time highs, as traders cheer earnings from Goldman Sachs (GS). On the other hand, fellow blue chips Johnson & Johnson (JNJ)and JPMorgan Chase (JPM) are pointed lower after earnings. Elsewhere, President Donald Trump responded to comments from bil...Read More
DPZ shares are set for a sharp pullback The shares of Domino's Pizza, Inc. (NYSE:DPZ) are trading down 6.6% before the opening bell after the company reported weak second-quarter revenue and same-store sales. If the price action holds, this would put DPZ near the $253 area, right near the year-to-date breakeven level. The move would have them far south of a recent consolidation pattern, and below...Read More
Czech steelmaker Liberty Ostrava is increasing its steel prices by ?,?20 ($23) per tonne to partially offset an increase in production costs, the company told Fastmarkets on Tuesday July 16. "Recent increases in raw materials and energy costs and the prevailing steel prices in Europe necessitate an immediate response to avoid further margin squeezes for our steel business," the company said.O...Read More
- Dave Kranzler"I don't think it's any coincidence that gold runs from $1285 to as high as $1445 around the time that all the news about Deutsche Bank started coming out" [the failure to merge with Commerzbank followed by the "good bank / bad bank" split announcement].It was reported by Bloomberg that Deutsche Bank clients - mostly hedge funds - are pulling $1 billion in capital per day from t...Read More
The market is now at record highs, and unemployment is way down. Even so, a U.S. rate cut is expected as early as this week. During his congressional testimony last week, Federal Reserve Chairman Jerome Powell raised concerns over slower global growth and trade tensions, which in turn have contributed to weaker demand and manufacturing activity. The most recent Global Manufacturing Purchasing Ma...Read More
Keith WeinerLast week, we looked at the idea of a national balance sheet, as a better way to measure the economy than GDP (which is production + destruction). The national balance sheet would take into account both assets and liabilities. If we take on another $1,000,000 debt to buy a $1,000,000 asset, then we have not added any equity. This is so, even though assets have gone up. But unfortuna...Read More
July 16, 2019,Vancouver, B.C. - Northern Vertex Mining Corp. (TSX.V: NEE)(OTC Nasdaq Intl.: NHVCF)(the "Company" or "Northern Vertex") is pleased to announce gold and silver production totaling 2,837 gold equivalent ounces (2,580 oz gold and 18,051 oz silver) during the month June and initial results from its Heap Leach Pad Study at the Moss Gold Mine, located in Northwest Arizona.Kenneth Be...Read More
Clint Siegner The federal government will soon run up against its self-imposed borrowing cap once again.Current estimates are for the government to max out its credit limit at a little over $22 trillion in early September. Congress goes on recess in August, so there is some pressure to address the cap right now.Treasury Secretary Steve Mnuchin has been fulfilling what seems to be the most sacred...Read More
By: Jordan Roy-ByrneGold and gold stocks especially continue to shrug off bits and pieces of bad news.No escalation in the trade war? The selloff lasted one day and the sector rebounded strongly the following day.Strong headline jobs number? Again, the weakness was a buying opportunity.This past week there was more. The June CPI report came in hotter than expected, which could mitigate the degr...Read More
StrengthsThe best performing metal this week was platinum, up 2.46 percent. The yellow metal jumped on Wednesday after Federal Reserve Chairman Jerome Powell's comments spurred bets on a cut in interest rates later this month. Powell said concerns over trade and global growth continue to weigh on the domesti...Read More
By: Ira EpsteinGold price action has tightened up, where next?Read More
[The following was contributed by Farmer, a subscriber from Nairobi who is active in the Rick's Picks chat room.] Of all the lies we read reported without question by the news media, one of the most egregious is that of China's GDP is still running hot at over 6% annually. It's an astonishing number for such a large economy and even more incredible during a global economic slowdown. With s...Read More
Turkish steel producers remained quiet in the deep-sea scrap markets, awaiting some signs of recovery in the finished steel sector, sources said on Tuesday July 16.The last verified scrap deal was on July 9 when a steel mill in the Iskenderun region booked a UK cargo at $288 per tonne cfr for HMS 1&2 (80:20).Since then, Turkish steel mills have stayed away from the deep-sea markets...Read More
A summary of base metals premiums from across the globe for the week to Tuesday July 16.Please click...Read More
Czech steelmaker Liberty Ostrava is increasing its steel prices by ?,?20 ($23) per tonne to partially offset an increase in production costs, the company told Fastmarkets on Tuesday July 16. "Recent increases in raw materials and energy costs and the prevailing steel prices in Europe necessitate an immediate response to avoid further margin squeezes for our steel business," the company said.O...Read More