Money manager Adrian Day reviews the prospects of two of his favorite resource companies and comments briefly on the pullback in gold prices. Following the strong rally in gold and gold stocks since the March low, we expect a pullback over coming weeks. It is already underway. We do not expect it to be particularly long or deep, and will present opportunities to buy. For now, however, patience is...Read More

Millrock Resources CEO Gregory Beischer speaks with Maurice Jackson of Proven and Probable about his company's drill program in the shadow of the Pogo gold mine. Maurice Jackson: Welcome to Proven and Probable. Joining us for a conversation is Gregory Beischer of Millrock Resources Inc. (MRO:TSX.V; MLRKF:OTCQB). Gregory for someone new to Millrock Resources, please introduce the opportunity the c...Read More

China's rebar prices retreated on Tuesday June 9 in both domestic and export markets due to softer demand. Domestic Eastern China (Shanghai): 3,590-3,620 yuan ($507-512) per tonne, down by 40 yuan per tonne at the midpoint Heavy rains in eastern and northern regions have disrupted construction work and reduced rebar demand, weighing on prices. Meanwhile, rebar futures dropped in last night's tradi...Read More

The future of the global long steel market remains uncertain because of both the impact of the covid-19 pandemic and rising protectionism, with no recovery expected in the third quarter of this year, the International Rebar Producers & Exporters Association (Irepas) said last week.A gradual slowdown in the construction industry in Europe due to Covid-19 is restraining steel long consumption, with...Read More

Polish coal miner Jastrzebska Sp??lka Weglowa (JSW), the largest coking coal producer in Europe, has suspended production at two of its mines following the steep increase in new Covid-19 cases among its workers, the company said on Monday June 8.JSW will temporarily halt coal production at the KWK Budryk and KWK Knur??w-Szczyglowice mines from June 9 to June 28 due to the worsening of the epidemic...Read More

The Nasdaq broke above 10,000 for the first timeThe Nasdaq rallied to another record high today, and briefly broke above the 10,000 level for the first time ever. The index's rise was bolstered by traders that loaded up on big technology names, particularly FAANG stocks Amazon.com (AMZN) and Apple (AAPL), both of which notched record highs. Despite this impressive news, the Dow slid today, ending...Read More

OXY is down alongside the rest of the oil and gas sector todayThe shares of Occidental Petroleum Corp (NYSE:OXY) are down 7.7% at $22.51 at last check, amid news that the oil and gas company is reviewing and possibly selling its Middle East assets in order to reduce debt. Meanwhile, BofA Global Research upgraded the stock to "buy" from "neutral," and hiked its price target to $32 from $18. Today's...Read More

An unwinding of pessimism could provide even more tailwindsThe last time we checked in with Teladoc Health (NYSE:TDOC), the telehealth provider was facing off with a key trendline. However, TDOC took a deeper dive than anticipated, shedding 4% in the last 30 days. Now, this extended pullback has brought the stock to another area that, if past is precedent, could halt the skid in its tracks.More sp...Read More

Diving into where last week's tech rally could goFor a while, the stock market highs of February seemed like they would be wistful ancient history during the coronavirus-induced doldrums of March. But U.S. equities -including the Nasdaq-100 Index (NDX) - have been on a breakneck pace sincethose March bottoms. The NDX in particular has had a stellar week; two straight record closes (Tuesday and Wed...Read More

The Dow is off roughly 200 points middayThe Dow JonesIndustrial Average (DJI) and S&P500 Index (SPX) are both languishing below breakeven at midday -- with the former off roughly 200 points -- amid today's travel sector slowdown. However, a bounce-back for tech stocks has the Nasdaq Composite (IXIC) reversing course higher,with FAANG names Facebook (FB) and Apple (AAPL) both charging toward...Read More

PCG is trying to dig out of its bankruptcy holeAfter over 100 years in San Francisco, CA, PG&E Corporation (NYSE:PCG) is moving to Oakland, CA to cut costs. The utility company is hoping to emerge from the bankruptcy filing it entered over a year ago, amid massive liabilities from deadly wildfires in 2017 and 2018. In addition, Mizuho raised its price target to $14.50 from $13.50. Despite the bul...Read More

An unprecedented number of consumers have picked up gardening during coronavirus-related lockdownsThe shares of Scotts Miracle-Gro Co (NYSE: SMG) are up 2.57% at $142.57 this morning, after the company revised its full-year sales and profit outlook amid increased demand for its soil and plant food products. The lawn and garden giantsaid an unprecedented number of consumers have picked up gardening...Read More

Casey's General Stores' fourth-quarter profits disappointed Wall StreetCasey's General Stores Inc (NASDAQ:CASY) entered the earnings confessional after yesterday's close, reporting fiscal fourth-quarter profits that missed Wall Street's estimates, but revenue that beat expectations. In response, CASY is down 2.5% to trade at $165.59 at last checkDespite the earnings miss, RBC raised its price tar...Read More

Signet's first-quarter results missed analysts' estimatesThe shares of jewelry name Signet Jewelers Ltd. (NYSE:SIG) are down 11.4% at $14.95 this morning after the firm reported a first-quarter loss of $1.59 per share and revenue of $852.1 million, missing analysts' estimates. Signet said it is accelerating its transformation into a channel-agnostic retailer, completing over 100,000 virtual consu...Read More

Here are five Fastmarkets stories you might have missed on Tuesday June 9 that are worth another look.The future of the global long steel market remains uncertain because of both the impact of the covid-19 pandemic and rising protectionism, with no recovery expected in the third quarter of this year, the International Rebar Producers & Exporters Association (Irepas) said last week.Ferrous scrap pr...Read More

The Fed's two-day meeting will kick off later todayFutures on the Dow Jones Industrial Average (DJI) are more than 300 points below fair value this morning, pausing the speedy rebound that has defined June so far. S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) futuresare also hovering in the red before the bell, as airline and cruise stocks -- recent champions of the market rally -- take a breat...Read More

The silver price has managed to recover from the Corona crash of 2020 with the price back within it's trading range of $17 to $20. Though contrary to the Silver bugs perma expectations for the Silver price to track the Gold price higher, that's not what usually tends to happen as the below graph illustrates,, which if you have followed my previous Silver analysis articles than you would know this...Read More

By: Hubert MoolmanThe US Dollar index is not a true measure of value of the US dollar. It just tracks an "exchange rate" between the US dollar and a basket of significant fiat currencies.For a true measure of value of the US dollar it is better to look to Gold and Silver. However, there is a relationship between significant Gold rallies and the US Dollar index.Gold has a tendency to rally at a c...Read More

By Clive MaundThe 6-month chart for GDX shows it completing what looks like a Head-and-Shoulders top at a quite a high level, and with this morning's drop it could soon break down from the pattern leading to a potentially steep drop.On the 13-month chart for GDX we can see that there is plenty of room for it to drop, and the minimum objective in the event of it breaking below nearby support is...Read More

By Avi GilburtRarely do you enter a market environment when the fear is as palpable as it was in the middle of March of this year. The world was coming to an end based upon most of what I was reading. And, as we were approaching the market lows (and even all throughout the 45%+ rally we just experienced), many continued to call for further crashes with many targets being noted at 1800, 1600, and...Read More