The U.S. manufacturing sector contracted for the fifth straight month in December, with the monthly reading from the Institute for Supply Management (ISM) hitting its weakest point in more than 10 years. The purchasing manager's index (PMI) fell to 47.2, a level we haven't seen since June 2009, as global trade tensions continued to take a toll on the country's manufacturers. The news comes as tw...Read More
- Ira EpsteinAlgos do not always win - important to know this. Gold price gap in the chart is now filled, fails after failed Iran/Iraq/US fears subsides -- China, Brexit, Impeachment and much more coming up:Read More
Gold and silver may have formed a short term top yesterday. If tomorrow's US December nonfarm payrolls matches ADP jobs, then gold and silver can see further sell off. Signing of the US-China trade deal and the details released thereof will be closely watched next week. Iran situation will be fragile over the coming weeks and months. There will be phases of escalation of geopolitical situation i...Read More
The program targeted a historical mine at the explorer's Nevada project. Newrange Gold Corp. (NRG:TSX.V; NRGOF:OTC) announced in a news release that the last of the underground channel sampling at the Good Hope mine at its Pamlico project in Nevada confirms further mineralization continuity.Results showed that oxide gold mineralization extended from outcrops at the opening of the mine's 5609 leve...Read More
The work the company has conducted to date at the project and the implications are discussed in a Scarsdale Equities report. Lion One TuvatuIn a Jan. 3 research note, Scarsdale Equities analyst Mike Niehuser reported that "evidence continues to mount for an alkaline gold system" at Lion One Metals Ltd.'s (LIO:TSX.V; LOMLF:OTCQX) Tuvatu project in Fiji. Accordingly, Scarsdale increased its target...Read More
The owner of the asset ascertained this from new drill results. Blackrock Gold Corp. (BRC:TSX.V; BKRRF:OTCMKTS) announced in a news release that recent drilling confirmed that an east-west trending epithermal vein system exists at its Silver Cloud property in Nevada."The potential for discovery of a bonanza epithermal system on our property, for which the Northern Nevada Rift is renowned, represe...Read More
The Canadian company reports new results from its 2019 drill campaign. Liberty Gold Corp. (LGD:TSX; LGDTF:OTCQB) increased the size of the Discovery 2 zone via stepout drilling at its Black Pine Property in southern Idaho, it announced in a news release. The company expanded Discovery 2 to 600 meters (600m) in the northeast-to-southeast direction, thereby connecting it to the Discovery 1 zone via...Read More
The World Trade Organization has made a final ruling that the Moroccan authorities violated parts of the WTO's Anti-Dumping Agreement in its imposition of tariffs on hot-rolled coil imports from Turkey.The WTO panel findings included the fact that Morocco failed to conclude its investigation within the 18-month maximum time limit and failed to inform all interested parties...Read More
Liberty Steel Group will cut 355 jobs at its UK steelworks in Stockbridge, South Yorkshire and Newport, South Wales due to "challenging market conditions", the company said on Thursday January 9. This follows a move late in 2019 when the GFG Alliance announced plans to consolidate all its steel businesses into one global group named Liberty Steel Group. The company said it has decided to redu...Read More
Wall Street's "fear gauge" on the other hand logged its fourth straight lossThe Dow logged its second-straight triple-digit victory today with U.S.-Iraq tensions apparently in decline. The blue-chip index hit a new intraday record high, with Apple (AAPL) and Goldman Sachs (GS) leading the charge. The S&P 500 and Nasdaq joined the Dow in the black and logged record highs of their own, with a surgin...Read More
China's Hebei province, the country's largest steel production hub, will reduce steel capacity by 14 million tonnes per year in 2020 as part of efforts to transform and upgrade the industry, according to a report from state-owned news agency Xinhua on Tuesday January 7.The plan, which is aimed at cutting overcapacity and reducing emissions, will not cause a significant drop in production nationwid...Read More
The stock is pacing for its worst day in over a yearOptions volume is heavy on Bed Bath & Beyond Inc. (NASDAQ:BBBY) this afternoon, as the stock slumps post-earnings. With BBBY shares last seen down 19.4% at $13.41 -- firmly on the short-sale restricted list -- the bulk of the action has occurred on the put side, with speculative players finding a way to target even more downside for the retail na...Read More
SNAP options volume is running quick todaySnap Inc (NYSE:SNAP) stock is trading up 4.4% this afternoon at $17.40, after Jefferies upgraded the Snapchat parent to "buy" from "hold," and lifted its price target to $21 from $17 -- a nearly 26% premium to last night's close. The brokerage firm expressed optimism over user growth and advertising revenue, saying it expects the latter to double over the...Read More
Infosys is set to report earnings before the open tomorrow Tech name Infosys Ltd (NYSE:INFY) is getting a boost ahead of its upcoming earnings report, due out before the market opens tomorrow, thanks in part to a price-target lift from Wells Fargo. The brokerage upped its target to $10.50 from $8.50. At last check, the shares of the consulting concern were up 2.3% to trade at $10.32. Since a late...Read More
Tensions surrounding the U.S. and Iran appear to be fadingThe Dow Jones Industrial Average (DJI) and S&P 500 Index (SPX) are confidently higher at midday -- and earlier nabbed fresh record highs -- as investors shed some of their initial fears over the conflict between the U.S. and Iran. The tech-rich Nasdaq Composite (IXIC) also hit new highs after Advanced Micro Devices (AMD) got an upgrade...Read More
Earnings from Goldman Sachs and JPMorgan Chase will be in the spotlight A flurry of financial names will step into the earnings arena this week, including blue chips Goldman Sachs (GS) and JP Morgan Chase (JPM). Fellow Dow member UnitedHealth (UNH) will also be in the earnings spotlight. There will be plenty of economic data for traders to digest, too. A definite market mover will come on Thursday...Read More
KBH has tacked on 68% over the past 12 monthsHomebuilder KB Home (NYSE:KBH) is seeing a nice lift this afternoon, earlier logging a two-year high of $37.59. The equity has been on a consistent climb higher in the last 12 months, with support at its ascending 80-day moving average pushing the stock to a now 68% year-over-year lead. Looking ahead, the construction name will report fiscal fourth-qua...Read More
KO has been an outperformer over the past yearShares of Coca-Cola Co (NYSE:KO) are up 1.3% at $55.04, higher on the back of a fresh bull note. Specifically, Credit Suisse upgraded the stock to "outperform" from "neutral," and hiked its price target to a Street-high $64 from $54. The brokerage firm expects growth in revenue, margins, earnings, and cash flow, as well as "low double-digit" growth th...Read More
The flat-rolled steel import market was mixed on Wednesday January 8, with some products rising sharply due to gains in the domestic market while others were quiet following no immediate improvement in steel demand after the December holiday lull, market participants said.Entering the first full work week following the Christmas and New year holiday break, a number of domestic steelmaker...Read More
The retailer posted a decline in net holiday salesVictoria secret parent L Brands Inc (NYSE:LB) is up this morning, despite the company posting net holiday sales of $3.9 billion, which came in below estimates. LB also posted a decrease in quarterly sales, and lowered its fourth-quarter outlook to $1.85 from $2 per share. The equity is up 2.7% at $18.60, at last check. Since hitting its nine-year...Read More