Brazil's Vale has obtained a court order allowing it to restart port activities at its Gua?-ba Island Terminal, it said late on Monday March 18.The iron ore miner had suspended port activities at the terminal earlier this month on orders of the Mangaratiba city government."Following the court decision, Mangaratiba City Hall authorities lifted the interdiction. Vale reaffirms that it has all valid...Read More
In recent weeks we noted the bullish outlook for the stock market. Friday the S&P 500 as well as ACWX (global equity ETF ex US stocks) closed above resistance and made higher highs. Not surprisingly, as US and global equities have avoided a bear market (for the time being), precious metals have weakened. It’s not a surprise that as Gold failed to breakout both the S&P 500 and global...Read More
A preliminary decision from a court in Brazil's Itabira city, in the country's southeastern Minas Gerais state, has ordered Vale to suspend activities at two of its tailings dams, following a request from the Minas Gerais state prosecutors' office, MPMG.Vale immediately complied with the decision, which affects the dams of Minervino and Cord??o Nova Vista, part of the Cau?? mine, the company said...Read More
The central bank expects no more rate hikes in 2019The major market indexes spent the early part of the session in the red, as traders eyed dismal FedEx (FDX) guidance and exercised caution ahead of the highly anticipated Fed statement. However, the Dow, S&P 500, and Nasdaq all turned briefly higher in afternoon trading, after the central bank indicated there will be no additional rate hikes in 20...Read More
Benchmark initiated coverage with a "speculative buy" ratingThe Canada-based car maker Electrameccanica Vehicles Corp (NASDAQ:SOLO) is in the spotlight today, after Benchmark initiated coverage with a $6 price target and a "speculative buy" rating. Benchmark is the first analyst to weigh in on the electric vehicle manufacturer, which just went public in August of last year. At last check, SOLO sto...Read More
Both equities sport attractively priced short-term optionsPharmaceutical concerns Sarepta Therapeutics Inc (NASDAQ:SRPT) and Amarin Corporation (NASDAQ:AMRN) have recently retreated from new highs. However, both stocks are approaching key levels that could signal a bounce. Below, we'll dive into how SRPT and AMRN have been faring on the charts, and see why history indicates now may be a good ti...Read More
Aftergold’s plunge on Thursday, it made a comeback attempt on Friday. But thaterased only half of Thursday’s vigorous decline. The situation in silver and goldminers doesn’t provide much ground for optimism either. The silent scream wewrote about in the Wednesday’s Alert for our subscribers brought seriousrepercussions. Both immediately and step-by-step as in a trainwreck i...Read More
CYTK has roughly doubled in the past two weeksThe Dow is pulling back today as investors digest Fed Chair Jerome Powell's press conference. Three stocks bucking the broad market trend though are logistics name CryoPort Inc (NASDAQ:CYRX), pharma stock Nevro Corp (NYSE:NVRO) and biotech Cytokinetics, Inc. (NASDAQ:CYTK). Here's a quick look at what's got the shares of CYRX, NVRO, and CYTK moving to...Read More
The Friendly Bear said the food delivery concern is "unlikely to exist in 18 months"The shares of food delivery concern Waitr Holdings Inc (NASDAQ:WTRH) are swimming in red ink today, in apparent reaction to brutal commentary from The Friendly Bear. Specifically, the analysts opined that WTRH stock is "running on fumes" and"unlikely to exist in 18 months." Along with citing an "alarming" cash burn...Read More
Revenue garnered from the United States' Section 232 tariffs - in place for almost a year - stood at $4.3 billion for steel and $1.4 billion for aluminium as of Thursday February 21, 2019, according to data from US Customs and Border Protection.While the blanket 25% steel tariffs imposed by US President Donald Trump's administration has helped US steel mills to reap record profits, restart id...Read More
How the index performs after these closely watched technical signalsJust three short months ago, Wall Street was talking about the major market indexes forming a "death cross." This week, however, the Dow Jones Industrial Average (DJI) just saw its 50-day and 200-day moving averages make a "golden cross," typically seen as a bullish sign of things to come. As such, we decided to take a look at how...Read More
The stock just pulled back to a key trendline amid the 737 MAX 8 scandalSeveral airlines have felt the heat after the recent Boeing (BA) 737 MAX 8 crash and subsequent global grounding, including United Airlines parent United Continental Holdings Inc (NASDAQ:UAL). The equity has slipped roughly 12% off its year-to-date peak of $90.93, touched on Feb. 26, trading today at $80.26. The drop, however,...Read More
The Fed's next policy decision will come out in a few hoursU.S. stocks are trading modestly lower ahead of this afternoon's Fed decision. The Dow Jones Industrial Average (DJI), Nasdaq Composite (IXIC), and S&P 500 Index (SPX) are all in the red, with the latter index dragged down by a poor earnings reaction for FedEx (FDX). On top of a 2:30 p.m. ET press conference from Fed Chair Jerome Powell, w...Read More
It’s been years since the gold and silver topped out in 2011. We have been waiting for a new bottom form and a new bull market to emerge for nearly 8 years. In this article, I’m going to compare palladium, gold, platinum, and silver and show you which of these precious metals I feel is the best long-term investment and also the best trade for 2019.The analysis presented below is based...Read More
Zinc's three-month price on the London Metal Exchange was higher at the close of trading on Wednesday March 20, bolstered by an 11-year low in LME stocks, with the price continuing to approach $2,900 per tonne - a level not seen since July 2018.Total on-warrant material was at its lowest level since 2008 at just 44,300 tonnes, while LME data showed five dominant warrant-holding positions. Three of...Read More
Both DLTR and DG options are attractively priced at the momentEvercore ISI has had a busy morning weighing in on the retail sector. The brokerage firm initiated coverage on Dollar Tree, Inc. (NASDAQ:DLTR) with an "in-line" rating and $105 price target. In addition, Telsey Advisory Group upgraded DLTR to "outperform" from "market perform," while boosting its price target to $117 from $103, followi...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Another brokerage firm is concerned about BBBY marginsEvercore ISI initiated coverage on Bed Bath & Beyond Inc. (NASDAQ:BBBY) with an "underperform" rating and $12 price target -- a discount to last night's close at $13.97. The brokerage firm expressed concern over falling margins and same-store sales, as well as increasing competition from online and discount retailers -- notably, Amazon.com (AMZ...Read More
By: Avi GilburtA few weeks ago, I wrote an article entitled "Bonds Setting Up To Skyrocket," and boy did I get a lot of pushback in the comments section. And, when I see so many who are still very bearish of bonds, it tells me that I am likely on the right track with my expectations for higher in the coming months.First, I want to revisit how we have dealt with bonds over the last three years. O...Read More
By: IRA EPSTEINFOMC today - Fed dot plot will be a focus. Gold stocks need to be careful here, can turn bearish..Copper options at an all-time record:Read More