The latest forecasts from Fastmarkets' team of analysts is ready to view.Stainless steel prices are on the increase in June. As far as this market is concerned, it appears as though the Covid-19 pandemic has had little impact so far, with prices on the most common grades of stainless steel just 2-4% lower than they were at the turn of the year in most markets.Even in Asia, a region often talked ab...Read More

Shares of Westwater Resources traded higher on greater than 100-times average daily volume after the company reported that positive independent test results on ULTRA-PMG(TM) demonstrated successful simulated full-scale processing of battery graphite. Energy materials development company Westwater Resources Inc. (WWR:NASDAQ) today announced that "independent testing of its ULTRA-PMG(TM) battery gr...Read More

The EU's plan to make electric vehicles a centerpiece of the continent's economic recovery has injected significant confidence into the global cobalt market, and has also renewed momentum for responsible sourcing across the whole supply chain, according to the head of Eurasian Resources Group (ERG).Recent government and industry association initiatives across the EU may also provide the boost requ...Read More

Continued protests and the civil unrest that comes with them do little to deter investorsCivil unrest around the U.S. didn't hinder a rise in markets, with the Dow managing to tack on 267 points as investors eyed a reopening economy over protests. Meanwhile, the S&P 500 barely inched its way into positive territory, mostly in part to a lift in bank stocks, while the Nasdaq also struggled to mark a...Read More

Call volume is surging in the options pitsThe shares of online pet store Chewy Inc (NYSE:CHWY) are seeing a surge in call volume today, with 48,000 contracts traded compared to just 6,000 puts. Most popular is the weekly 6/5 50-strike call, where new positions are being opened. Second is the 45-strike call in the same session, which also happens to be the sixth most popular open interest positio...Read More

Planet Fitness reopened around 800 facilities in North AmericaThe shares of Planet Fitness Inc (NYSE:PLNT) are soaring today, up 7.6% at $72.66 at last check, after the fitness center franchise reported about 60% of its customers returned amid the reopening of around 800 gyms across the U.S. and Canada in the last week. Furthermore, the company also reported that memberships remain stable in gym...Read More

The Dow and S&P are higher midday, while the Nasdaq has taken a breather The Dow Jones Industrial Average (DJI) is trading up around triple-digits this afternoon, with stocks tied to the reopening U.S. economy leading the charge. The S&P 500 Index (SPX) is hovering at breakevenby midday, while a lackluster day for the tech sector has the Nasdaq Composite (IXIC) paring some of its earlier gains....Read More

Starbucks asked employees to further limit working hours or take unpaid leaveThe shares of Starbucks Corporation (NASDAQ: SBUX) are down 0.8% at $77.68 this morning, after the company asked employees to further limit their hours or take unpaid leave until September. Though the popular coffee chain has regained nearly two-thirds of its comparable U.S. sales from the past year as it reopens stores,...Read More

Spain's steel production declined in April due to Covid-19-related restrictions, with output sinking below the figures reached over the "worst months of the financial crisis in 2008," Unesid, the country's steel association, said.Last week, the Spanish government extended its Covid-19 lockdown for the fifth time until June 7, discarding the original end date of May 24.The steel sector was allowed...Read More

Western Union has offered MoneyGram a takeover offerOne of the best stocks on the Nasdaq so far today is MoneyGram International Inc (NASDAQ:MGI), up 32.4% at $3.43 at last check. The big move from the penny stock comes after Bloomberg News reported on a possible takeover offer from money transfer rival Western Union (WU). Following the news, BTIG chimed in that the combination would be subject t...Read More

Dick's Sporting Goods first-quarter losses and revenue were well below Wall Street's estimatesSports retailer Dick's Sporting Goods (NYSE:DKS) entered the earnings confessional this morning, reporting first-quarter losses and revenue that came in lower than analysts' estimates. Same-store sales missed estimates as well, falling nearly 30%, though its e-commerce sales more than tripled. As a resul...Read More

Several analysts are issuing bull notes to Slack stock todaySeveral analysts are raving about work-from-home staple Slack Technologies Inc (NYSE:WORK) this morning, including Cowen, which initiated coverage with an "outperform" rating and a $45 price target. The brokerage noted the recent shift to permanent remote work, sparked by stay-at-home orders, has given Slack the opportunity to accelerat...Read More

ADM is well overdue for a round of downgradesLast week, at Schaeffer's we dove into how the S&P 500 Index (SPX) is behaving during the current market turmoil, specifically exploring what, if anything, we could expect going forward. The analysis used an oscillator index called the Choppiness Index, and showed how the S&P 500 has performed based on specific key levels, including various spikes and b...Read More

Civil unrest has overshadowed the coronavirus and China tensionsDow Jones Industrial Average (DJI) futures are up around 150 points above fair value this morning, despite dipping overnight in the wake of U.S. President Donald Trump's statement that he will deploy the military if protests aroundthe country continue. As investors focus on states easing lockdowns, futures on the S&P 500 Index (SPX)...Read More

Indonesian state-owned steel producer PT Krakatau Steel recorded its first profit in over a decade in the first quarter of 2020, aided by considerable cost cutting, the company announced.$74.1-million net profit for Q1 2020 (vs $62.3-million net loss in Q1 2019)Operating costs fell 31% year on year to $46.8 million.$130 million of spending cuts (cost reductions in energy, consumables and utilities...Read More

Ricky Wen, ElliottWaveTrader Monday's session was an inside day within a potential inside week/high-level consolidation context. Basically, the regular trading hours (RTH) session was confined to a 3059-3027 range on the Emini S&P 500 (ES), which is about 1%. In addition, as you may be aware by now, the average range per day has been narrowing for the past few weeks due to this methodical grind...Read More

By: Ira EpsteinGold is back and forth short-term, does not have a trend at the moment. Caught in the volatility bands..Read More

Gold and silver will remain firm on developments in USA. Copper is on the verge of a big technical breakout. Crude oil is bullish. OPEC has decided to continue with production cuts. If India had faced a similar mass arson then global leaders would have condemned India with "secularism is at risk" slogan. The arsonists would have been divided between religion, caste and creed. USA's NATO allies a...Read More

Since the creation of the Federal Reserve in1913, the stock market has outperformed Gold and Silver significantly. Here isa great chart (from longtermtrends.net) that proves this: The S&P 500 is in red, the Dow in blueand Gold and Silver in their native colours. The outperformance is huge.Through the debt-based monetary system, the Fed facilitates the extension ofcredit which disproportionatel...Read More

Brazil's iron ore exports in May fell by over a quarter compared with the same period a year earlier.It exported 21.50 million tonnes of the steelmaking raw material last month, which is 28.2% lower than the 29.87 million tonnes it shipped out in May last year, according to figures released by the country's economy ministry on Monday June 1.Iron ore prices have been on the rise amid concerns about...Read More