Chinese finished steel exports decreased in February on both a yearly and a month-on-month basis amid uncompetitive prices and fewer working days as a result of the Chinese Lunar New Year holiday.The country shipped 4.51 million tonnes of finished steel out of the country last month, down 7% from the 4.85 million tonnes exported in February 2018, according to preliminary Chinese customs data...Read More
Weak Chinese trade data and a U.S. jobs report strengthened headwinds on Wall StreetThe stock market's strong February finish was quickly put in the rearview mirror this week, as global growth concerns sent traders heading for the exits as the bull market hit a notable milestone. Fears of a slowing world economy were only exacerbated ahead of Friday's open after China unveiled dismal February expo...Read More
I know it may have come as a shock to some of you on why I raised some capital by selling a few PM stocks today. Whenever you see a false breakout of any chart pattern and the price action trades below the bottom rail of the original pattern that can setup a bearish situation. It’s like a head fake. The stock forms what looks like a great breakout and maybe even accompanied by a breakout gap...Read More
China's major mills continued to raise their daily output rates for crude steel in mid-February, while their finished steel inventories also rose.Members of the China Iron & Steel Association (Cisa) produced crude steel at an average rate of 1.95 million tonnes per day during the second 10 days of February, up 1.6% from 1.92 million tpd in early February, according to data released by the industry...Read More
Meanwhile, SEEL is one of the best stocks on the Nasdaq todayThe Dow is getting crushed today, heading toward its fifth straight loss after an ugly jobs report. Among stocks making notable moves today, AMAG Pharmaceuticals, Inc. (NASDAQ:AMAG) and chip name Marvell Technology Group Ltd. (NASDAQ:MRVL) are struggling, while biotech concern Seelos Therapeutics Inc (NASDAQ:SEEL) is higher. Here's a qu...Read More
PLEASE NOTE: THE COT REPORT SCHEDULE IS NOW UP-TO-DATE & ON ITS NORMAL SCHEDULE WITH THE RELEASE OF THIS REPORT. Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 202,628114,61059,730155,732269,729418,090444,069 Change from Prior Reporting Period -34,20713,471-5,6729,690-36,158-30,189-28,359 Traders 18568814952269168 Small Speculator...Read More
The widely-held mega-cap stocks that dominate the US markets recently finished reporting their Q4'18 financial results. Because the tenor of stock markets changed radically last quarter, this latest earnings season is more important than usual. An extreme monster bull market suddenly rolled over into a severe near-bear correction in Q4. How major corporations fared offers insights into whe...Read More
By: IRA EPSTEINEU cuts back its growth forecasts. ECB update. Gold under a down thrust from a strong US Dollar. Inflation around the world not an issue right now. Gold on pause of this bear leg... Gold close to support?Read More
As theold saying goes, politics is a show business for ugly people. Fair enough, butwhat does it have to do with gold? Let’s jump right in and find out! There Is No Trade War Economicreports are rarely fun. But when we read the latestUS trade report, we could not help but laugh. It turns out that the USgoods and services deficit was $59.8 billion in December, up $9.5 billion, oralmost 19 per...Read More
SFIX earnings releases have resulting in huge stock moves in recent quartersStitch Fix Inc (NASDAQ:SFIX) is preparing to report earnings after the close on Monday, March 11, and that's notable since the company's last three earnings releases have sparked at least a 20.9% single-day swing in the stock price. Including all five earnings releases in the company's history, SFIX has averaged an after-e...Read More
The equity has plummeted after previous signalsU.S. stocks are in the red for a fifth straight session, as traders jeer an ugly February payrolls report and a steep drop in Chinese exports. What's more, one China-based stock could extend its recent downtrend, if history is any indicator. Below, we'll take a look at why short-term bears may want to target Chinese e-commerce concern JD.com Inc (NASD...Read More
Latin America's export prices of hot-rolled coil increased this week, while heavy plate and cold-rolled coil remained stable amid a rise in export offers from Brazilian producers, although few deals were reported.Offers of Brazil-origin HRC were at around $555-560 per tonne fob, with at least one deal being closed to South American countries.Fastmarkets' weekly price assessment for Latin America's...Read More
An ugly payrolls report and China's export drop are weighing heavy on stocksStocks are notably lower in afternoon trading, as U.S. jobs data came in well below expectations. Specifically, the slim 20,000 job growth for February, combined with China's steep drop in exports, has the Dow Jones Industrial Average (DJI) down triple digits. The blue-chip index -- alongside the S&P 500 Index (SPX) and...Read More
GME gapped lower in January on crushed M&A hopesThe shares of GameStop Corp. (NYSE:GME) are sharply lower today, down 6.1% to trade at $10.80. BofA-Merrill Lynch downgraded the video game retailer to "underpeform" from "neutral," while slashing its price target to $9 from $12. The analyst in coverage anticipates deteriorating fundamentals as the industry shifts to streaming.GameStop stock earlie...Read More
A free tool can help traders bank big during the upcoming earnings season. Too many investors let their portfolios slip during the busy holiday season, but this is a huge mistake... especially with the market moving events just around the corner!With the crazy market action investors have been seeing lately, right now is the time to prepare to bank big wins.It's important for investors to positio...Read More
BIG has added 21% year-to-dateShares of Big Lots, Inc. (NYSE:BIG) are higher this morning, after the retail chain announced better-than-expected fourth-quarter earnings and same-store sales. CEO Bruce Thorn described a "meaningful sales acceleration in December and January" as the driver behind the impressive numbers. In response, BIG is up 10.1% at $35.06 in today's trading. Long term, Big Lots...Read More
Fastmarkets AMM attended the annual convention of the National Association of Steel Pipe Distributors (NASPD) on Thursday March 7 and Friday March 8 in New Orleans. Here are five themes gleaned in the sessions, on the sidelines and at the soirees.The US Gulf Coast is excited about China LNG import rumors. Reports that China may agree to buy an immense amount of liquefied natural gas (LNG) exp...Read More
The brokerage firm slashed its XOM price target by 25%The shares of Exxon Mobil Corporation (NYSE:XOM) are trading down 1.6% at $78.85, after Cowen and Company downgraded the big-cap energy name to "market perform" from "outperform," citing concerns over the company's recently announced plans to boost capital spending. The brokerage firm also slashed its XOM price target by 25% to $75 , saying the...Read More
Gold has bounced back strongly from six-week lows on global growth worries, forming a bullish hammer on the weekly chart. As of writing, the yellow metal is trading at $1,300, representing 0.45 percent gain on a weekly basis. A bounce from lows near $1,280 was overdue as technical charts were reporting bearish exhaustion in Asian session today and the case for a corrective rally to $1,...Read More
AMZN shares have traded in a tight range recentlyEarlier this morning, the New York Post reported that an Amazon-led group was nearing a $3.5 billion deal for YES Network, New York's prominent cable sports channel. The e-commerce giant wouldhave control of streaming to New York Yankees and Brooklyn Nets games. More notably, Democratic presidential candidate Sen. Elizabeth Warren just proposed a pl...Read More