The Dow hit another fresh high amid well-received weekly jobless claims and December retail salesThe Dow Jones Industrial Average (DJI) has continued its steady rise higher at midday, touching another record high, as Wall Street looked towards promising economic data, namely upbeat retail sales and jobless claims. A post-earnings pop from bank name Morgan Stanley (MS) and a finalized "phase one"...Read More
AOBC has climbed in recent monthsShares of firearm maker American Outdoor Brands Corp (NASDAQ:AOBC) are down 0.4% at $9.54 this morning, the stock buzzing on news that the company's CEO James Debney has been ousted by the board effective immediately, after violating a non-financial company policy. Longer term, the equity has added over 77% from its Oct. 3 low, and is now sporting a 3.2% year-to-d...Read More
Silver appears to be very close to an evenbigger move higher. Most of the hard work of the double-bottom since 2015 isdone.The coming leg higher is the one that willlikely take prices to all-time highs. Below, is a long-term Silver chart: Note that price has broken above the50-month moving average, and consolidated above the line. This is a great buy signal, when taken into account withother...Read More
iRobot has been trending higher recentlyThe shares of iRobot Corporation (NASDAQ:IRBT) are sporting a 7.7% gain this morning to trade at $57.51, putting them on pace for their best close since October and a second straight finish atop the 100-day moving average after roughly nine months below the trendline. Today's upside is coming thanks to an upgrade to "market perform" from "underperform" at Ra...Read More
By: Ira EpsteinGold 18-dma is the $1,540's, $20 from the current price = support. Bias is up, trend is down..Read More
The streaming giant just partnered with Ben & Jerry's to create a new flavor of ice creamNetflix Inc (NASDAQ:NFLX) stock is popping today, after the streaming giant announced its partnership with Ben & Jerry's to create a flavor of ice cream called "Netflix & Chill'd," which will feature fudge brownies and pretzel swirls in peanut butter ice cream. The stock is up 1% to trade at $343, at last che...Read More
Trump's impeachment progress is the key reason for gold and silver to rise. Impeachment news is the reason for gold price to rise from $1460 to $1520. Thereafter investment interest and speculative longs pushed gold past $1600. Gold prices not falling below $1530 despite some bearish news should be taken as short term positive by bulls. News on US-China trade deal (everything collected from Re...Read More
The Chinese steelmaking industry will focus on six key areas in 2020 to maintain its structured and orderly development, China Iron & Steel Association (Cisa) chairman Gao Xiangming said in a speech at a conference last weekend.These are meant to round out the final year of China's 13th Five-Year Plan and contribute to the stable growth and reform of the Chinese economy.1. Maintain stable, efficie...Read More
UK suppliers of steel scrap to domestic consumers have added a further round of price increases for the latest monthly settlements to be delivered in January, sources told Fastmarkets on Thursday January 16.January contracts were up by ?10 ($13) per tonne, the latest step in a climb of ?35 per tonne over three months, after increasing by a similar amount last month and by ?15 per tonne in Novem...Read More
Last Thursday, the New York Fed added more than $80 billion in fresh temporary liquidity to the financial markets. Move over folks, nothing to see here – but what does it mean for gold prices?Repo Crisis Is Not OverLast week on Thursday, the New York Fed added $83.1 billion in temporary liquidity to financial markets. And banks’ demand for liquidity flared up again on Tuesday. If you h...Read More
Stocks are set for fresh records yet againU.S. stock futures are pointing to a big day, set to build off Wednesday's bullish session. The Dow Jones Industrial Average (DJI) is eyeing a more than 200-point pop at the open, and the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are set for strong opens, as well, with all three major indexes again set for record highs. Investors continue to respond t...Read More
The three-month nickel price on the London Metal Exchange was lower at the close of trading on Thursday January 16, falling by more than 3.5% to settle below nearby resistance, while a steady upswing in tin's outright price saw it close at a six-month high.Nickel's outright price on the LME closed at $13,775 per tonne on Thursday afternoon, losing more than $650 per tonne from an intraday high of...Read More
Trading activity in the CIS export billet market enlivened by mid-January with new bookings coming to light. But the general trend still lacked clarity because the price range of bookings was wide.Fastmarkets' daily steel billet index, export, fob Black Sea, CIS, was $408 per tonne on January 16, unchanged day on day.A 50,000-tonne cargo of Ukrainian special-grade billet was sold to Saudi Arabia a...Read More
Domestic prices for hot-dipped galvanized coil (HDG) in Europe increased over the past seven days, driven up by rising hot-rolled coil feedstock costs, sources told Fastmarkets this week.Fastmarkets' daily steel hot-rolled coil index, domestic, ex-works Northern Europe, was fairly stable at ?,?443.10 ($493.66) per tonne on Wednesday January 16, up by ?,?3.10 per tonne week on week.And Fastmarkets'...Read More
By: Ira EpsteinGold 18-dma is the $1,540's, $20 from the current price = support. Bias is up, trend is down..Read More
- Gary Christenson, The Deviant InvestorIt was the best of times, it was the worst of times, it was the age of QE, it was the age of fiscal foolishness, it was the epoch of the Fed Put, it was the epoch of Greater Fool Theory, it was the season of golden light, and it was the season of fiat darkness.My apologies to Charles Dickens. Miles Franklin sponsored this article by Gary Christenson....Read More
Trump's impeachment progress is the key reason for gold and silver to rise. Impeachment news is the reason for gold price to rise from $1460 to $1520. Thereafter investment interest and speculative longs pushed gold past $1600. Gold prices not falling below $1530 despite some bearish news should be taken as short term positive by bulls. News on US-China trade deal (everything collected from Re...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday January 16 that are worth another look.Trading activity in the Iranian export market for steel billet and slab slowed down in the week ended Wednesday January 15, with the United States tightening its sanctions against a number of the Middle Eastern country's major steelmakers amid increased tension between the two nations.Fres...Read More
The London Metal Exchange will on February 1 introduce a reporting process that will increase transparency into levels of off-warrant stocks. The exchange announced the plans in November 2019 and aims to attract more metal back in LME sheds. It is controversial, but its passage into the LME rulebook on February 1 follows a consultation last year. Some market participants are now saying the LME sho...Read More
A string of long-term deals for cobalt hydroxide show that bullish forecasts for cobalt consumption from the electric vehicle (EV) sector are coming into play. Glencore will supply battery manufacturer SK Innovation with up to 30,000 tonnes of cobalt contained in hydroxide over six years, it said last week - a deal worth about $1 billion in today's market. And other deals also point...Read More