BLK shares are technically overbought before earnings Investment management concern BlackRock, Inc. (NYSE:BLK) hit a fresh 52-week high of $525 earlier, setting up the shares for an eighth straight weekly win. The stock was most recently seen at $516.71, as traders prepare for the company's earnings release, scheduled for before the open tomorrow, Jan. 15. BLK's 14-day Relative Strength Index (RSI...Read More

Market forecasterMartin Zweig famously warned investors against underestimating the power of theFederal Reserve Bank to control markets. He coined the phrase “Don’t fight theFed” back in the 80’s. Preciousmetals investors are wondering if this is still goodadvice.On one hand, it ispretty hard to argue with that bit of wisdom.The Fed Zweig wasreferencing had begun taking a m...Read More

Bank earnings continue to take the spotlightThe Dow Jones Industrial Average (DJI) has explored both sides of breakeven, before eventually climbing higher midday, as Wall Street's attention remains glued to a spate of earnings reports out of the finance sector, including JPMorgan Chase (JPM) and Wells Fargo (WFC). Meanwhile, the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) have erased thi...Read More

Ukrainian steel billet producer Dneprovskiy Dzerzhinsky Metallurgical Plant (DMKD) has restarted its 900,000-tonnes-per-year No12 blast furnace at its steelmaking facility in the port city of Kamianske on the Dneiper river.Trial pig iron production was started at the end of 2019 and normal operations resumed on Saturday January 4, the company said on January 10. Currently, the daily...Read More

Call buying has been hot on ZUMZZumiez Inc. (NASDAQ:ZUMZ) is one winner today on Wall Street, up 3.3% at $34.14, thanks to the company's holiday sales update. The strong numbers prompted the retailer to increase its guidance for the quarter, likely increasing the chances it announces another earnings win when it reports in March. Specifically, ZUMZ shares have gained more than 11% after each of th...Read More

Heads UP …from Rambus Chartology.“You may recall we were looking at the Japanese YEN / PM complex combo chart several months ago comparing the YEN to the PM complex. For whatever reasons how the YEN goes the PM complex tends to follow. It’s not a perfect correlation but close enough to pay attention. Today the YEN gapped below an important trendline that goes all the way back to...Read More

Goldman Sachs hiked its price target on NFLX to $450 from $400Streaming service Netflix Inc (NASDAQ:NFLX) is inching lower this morning, now down 0.6% to trade at $336.94, despite a price-target hike to $450 from $400 at Goldman Sachs. The revised price represents a healthy 32.8% upside to Monday night's close of $338.92, and the brokerage firm said it expects fourth-quarter results that are "well...Read More

By: Ira EpsteinWill Pelosi take away the trade-deal Trump victory with an impeachment delivery to the Senate?Gold APRIL (now updated) Futures. Gold is down the first trading day of the week, 18-DMA is at $1497 area and rising. Gold peaked out at missile day. Read More

RambusHeads UP ...from Rambus Chartology."You may recall we were looking at the Japanese YEN / PM complex combo chart several months ago comparing the YEN to the PM complex. For whatever reasons how the YEN goes the PM complex tends to follow. It's not a perfect correlation but close enough to pay attention. Today the YEN gapped below an important trendline that goes all the way back to October...Read More

Ask yourself what factors what factors will affect global financial markets once the so called US-China trade deal is signed. Trade war is the biggest reason why gold prices rose from $1200 to $1600 in around twelve months. Central bank buying and other reasons have also contributed to gold price rise but the biggest catalyst has been the trade war and recession fears. I will happy if gold price...Read More

Most analysts are bullish on Take-Two, thoughThe shares of Take-Two Interactive Software, Inc. (NASDAQ:TTWO) are down 1.5% to trade at $126.41 today, after a downgrade from Stephens. The brokerage firm cut its rating on the video game company to "equal-weight" from "overweight," while trimming its price target to $110 from $145. Interestingly, the analyst in coverage is still bullish on video gam...Read More

Wells Fargo's profits for its fourth quarter dropped 55% from last yearThe shares of Wells Fargo & Co (NYSE:WFC) are struggling today. The bank concern stepped into the earnings confessional with adjusted fourth-quarter earnings of 93 cents per share, lower than the $1.12 estimates and down 55% year-over-year due to mounting legal costs and a lower interest rate environment. The firm also posted r...Read More

An effort by domestic steelmakers to increase flat-rolled steel prices since late October 2019 has revived the hot-rolled index from multi-year lows, but it is unlikely to help mills to regain the high margins they achieved in 2018, market participants and industry experts told Fastmarkets.Flat-rolled steel mills in the United States have announced five price increases on sheet products in the las...Read More

JPMorgan's results impressed investorsU.S. stock futures are trading near fair value this morning, signaling a flat start to the day for equities as earnings season gets underway with reports from the big banks. Most notably, Dow Jones Industrial Average (DJI) component JPMorgan Chase (JPM) is set to gain thanks to record annual profits, while sector peer Wells Fargo (WFC) is moving in the other d...Read More

A summary of base metals premiums from across the globe for the week to Tuesday January 14.Click on...Read More

Given the right impetus, copper has the best long-term prospects among the base metals complex, which was exhibited by the red metal's price rally in December.Copper prices began to rise on the London Metal Exchange in the run-up to year-end 2019, responding to the first signs of a thaw in the protracted trade war between the United States and China.The copper LME official three-month contrac...Read More

Domestic prices for hot-rolled coil in Northern Europe remained largely unchanged on Tuesday January 14, but sentiment remains positive, sources told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index domestic, ex-works Northern Europe, was at ?,?442.70 ($492.63) per tonne on Monday January 14, down by 23 cents from ?,?442.93 per tonne on January 13.The index...Read More

Here are five Fastmarkets MB stories you might have missed on Tuesday January 14 that are worth another look.ArcelorMittal Kryvyi Rih, the major long steel producer in Ukraine, has called on the country's government to review its decision to impose an import tariff on rebar and wire rod steel imports from Belarus, referring to evidence of dumping.Nizi International has closed its base metals tradi...Read More

Near the start of every year, I share our ever-popular Periodic Table of Commodity Returns, now updated to reflect the final results of 2019. To view the interactive table and download a copy of your own, click here. Commodities as a whole had a mostly positive 2019, returning 16.53 percent as measured by the S&P GSCI. This far surpasses commodities' five-year average return of about negativ...Read More

By: Ira EpsteinWill Pelosi take away the trade-deal Trump victory with an impeachment delivery to the Senate?Gold APRIL (now updated) Futures. Gold is down the first trading day of the week, 18-DMA is at $1497 area and rising. Gold peaked out at missile day. Read More