Cisco will acquire internet monitoring solutions company ThousandEyesCisco Systems, Inc (NASDAQ:CSCO) is getting a slight leg up this morning, following an announcement that the cloud specialist plans on acquiring internet monitoring solutions company ThousandEyes. Though the company did not specify the terms of this arrangement, multiple reports stated that the purchase was for $1 billion. At las...Read More
AstraZeneca saw positive results in clinical cancer-drug trialsThe shares of AstraZeneca plc (NYSE:AZN) are up 1.7% at $54.43 this morning, on positive news regarding its cancer drug Tagrisso. According to a report, a phase-two trial succeeded in holding back a certain early-stage lung cancer, opening the treatment up to a potentially much larger sales boost. An analyst at Jefferies says the resu...Read More
U.S.-China relations are weighing heavily on traders' mindsDow Jones Industrial Average (DJI) futures are sharply below fair market value on the last trading day of May, as investors anxiously await U.S. President Donald Trump's upcoming news conference regarding U.S.-China relations. Potentially sharp rhetoric or a harsh response could threatento incite more economic turmoil with China. Futures...Read More
The marijuana company's fourth-quarter losses and revenue missed the markThe shares of marijuana producer Canopy Growth Corp (NYSE:CGC) have taken a serious tumble off yesterday's three-month peak, after reporting a fiscal fourth-quarter loss -- which included $743 million (Canadian) in impairment and restructuring charges -- and revenue that missed analyst expectations. Medical marijuana was the...Read More
Gold COT Report - FuturesLarge SpeculatorsCommercialTotalLongShortSpreadingLongShortLongShort288,14850,23439,951131,977406,299460,076496,484Change from Prior Reporting Period -7,2466,628706-1,738-17,590-8,278-10,256Traders20761815660291177 Small Speculators (C) GoldSeek.com LongShortOpen Interest 59,29822,890519,374 -5531,425-8,831 non reportable positionsChange from...Read More
Avi GilburtFor those that do not know, Carolyn Boroden (The Fibonacci Queen) has joined the analyst team at Elliottwavetrader. So, she and I are endeavoring to present our combined perspectives to outline our general expectations over the coming weeks, as we begin this series of articles.There are times when the market provides us with clear indications. And, as proceeded through March, Caro...Read More
Last day of the month. Just trade in the technical. Trump and China news will affect markets today. Economy will be on focus from next week. Nations have started opening from May month. Next week will tell us whether over optimism has been factored in by current stock rise and crude oil. Silver and copper are bullish. Nickel will break free from the recent consolidation phase and form a new rang...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.US demand shrinksDemand projections call for a continued retreat in US electric-resistance welded (ERW) line pipe and oil country tubular goods (OCTG) consumption as drill rigs and the number of wells drilled per rig are cut. Project demand in the large-diameter line pipe market is also shrinking with deferred or canceled pro...Read More
Brazilian crude steel production dropped by 39% year on year in April, according to figures released by national steel association A??o Brasil early this week.Output totaled 1.81 million tonnes, down from 2.97 million tonnes in April 2019.At least a dozen blast furnaces in the country are currently halted due to weak demand amid the Covid-19 pandemic.Finished steel output reached 1.23 million tonn...Read More
Gold COT Report - FuturesLarge SpeculatorsCommercialTotalLongShortSpreadingLongShortLongShort288,14850,23439,951131,977406,299460,076496,484Change from Prior Reporting Period -7,2466,628706-1,738-17,590-8,278-10,256Traders20761815660291177 Small Speculators (C) GoldSeek.com LongShortOpen Interest 59,29822,890519,374 -5531,425-8,831 non reportable positionsChange from...Read More
By Dave KranzlerAn article from Bloomberg was published 2 days ago which alleged that "New York Gold Traders Drown in Glut..." The Comex is now reporting there's 26 million ozs of gold in Comex vaults, 17 million of which is in the "eligible" account. This is up from 9 million total ozs at the end of March, 5.5 million of which was "eligible."I find it amusing that the mainstream media swall...Read More
Key PointsThe U.S. economy has used phony numbers for a long time. The U.S. Gross Domestic Product has been falling for some time.Cuts in government-funded services, including Social Security and Medicare were already in the works before the COVID-19 coronavirus outbreak.President Trump offered reduced taxes for U.S. companies doing business overseas as incentive to bring their profits home. Som...Read More
Avi GilburtFor those that do not know, Carolyn Boroden (The Fibonacci Queen) has joined the analyst team at Elliottwavetrader. So, she and I are endeavoring to present our combined perspectives to outline our general expectations over the coming weeks, as we begin this series of articles.There are times when the market provides us with clear indications. And, as proceeded through March, Caro...Read More
Last day of the month. Just trade in the technical. Trump and China news will affect markets today. Economy will be on focus from next week. Nations have started opening from May month. Next week will tell us whether over optimism has been factored in by current stock rise and crude oil. Silver and copper are bullish. Nickel will break free from the recent consolidation phase and form a new rang...Read More
Fastmarkets is proposing to amend the specifications of cobalt hydroxide prices in order to reference a threshold for maximum iron content.Following an initial discussion with market participants, Fastmarkets is proposing to tighten the chemical specifications of the cobalt hydroxide payable indicator, min 30% Co, cif China, % payable of Fastmarkets' standard-grade cobalt price (low end) and the c...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.US demand shrinksDemand projections call for a continued retreat in US electric-resistance welded (ERW) line pipe and oil country tubular goods (OCTG) consumption as drill rigs and the number of wells drilled per rig are cut. Project demand in the large-diameter line pipe market is also shrinking with deferred or canceled pro...Read More
The gold price made a new 2020 high today and looks poised to take out the nominal all-time high around $1,920 and then challenge $2,000 in the months ahead. Some are even estimating that gold could climb to $3,000 by year-end on account of the nearly $10 trillion in new money/debt/stimulus that is being created in the US alone to fight the pandemic.This 2020 gold price target of $3,000 is a littl...Read More
After a consultation period, Fastmarkets has amended the specifications of its price assessments for battery-grade lithium carbonate and hydroxide to better reflect emerging norms in battery-grade chemistry.The changes will take effect on June 1, 2020.The amendments to the specifications of the price of the lithium carbonate 99.5% Li2CO3 min, battery grade, spot price range exw domestic China, yua...Read More
Domestic prices for hot-rolled coil in Northern Europe went down day on day on Friday May 29 due to poor demand.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was ?,?400.71 ($442.31) per tonne on Friday, down by ?,?6.17 per tonne day on day from ?,?406.88 per tonne ex-works on Thursday.Friday's index was calculated based on deals and "workable" prices heard at ?,?39...Read More
The reason for silver's gap-up assumes the US makes it through the weekend as a functional nation with working markets, so yeah, it might be a stretch...I wrote something a few years back.It's not very well written, it's in dire need of proofreading, and it could use a revision, and I supposed one day I'll get around doing those things.Regardless, from the book I wrote that nobody ever read, much...Read More