Monthly European alloy steel surcharges have increased slightly in January but there were already expectations in the market for decreases in March because of falling nickel costs, sources told Fastmarkets on Friday January 31.Fastmarkets' calculation on Friday of the stainless steel cold-rolled sheet, 2mm, grade 304, alloy surcharge, domestic, Europe, was ?,?1,434-1,448 ($1,581-1,596) per tonne f...Read More

Amazon shared a blowout earnings reportThe seemingly endless worry surrounding the impact of the wide-spreading coronavirus on the economy, trade, travel, and health sent the Dow 600 points south on the day to close out January. In fact, all three indexes closed deep in the red, with the S&P off a triple digit pullback as well. However, paring some of the Nasdaq's losses throughout the day was an...Read More

The coronavirus outbreak is raising concerns about the global economy Stocks started the week on a slow note due to ongoing concerns around the coronavirus, sending the Dow Jones Industrial Average (DJI) reeling and the Cboe Volatility Index (VIX) surging higher. This theme looks to be continuing as the week wraps up too, with the Dow eyeing a huge pullback at the time of this writing. Traders mon...Read More

Sea stock has added an enormous 222% over the past 12 monthsSoftware name Sea Ltd. (NYSE:SE) more than tripled in 2019, and over the last few months have been on a steady trend higher. Just last week SE touched a record high of $46.50, and is not far off this afternoon, trading at $45.24 at last check. With a layer of support embedded in the rising 20-day moving average, and the shares now up 222%...Read More

Entertainment Arts' fourth-quarter revenue outlook missed the mark Video game specialist Electronic Arts Inc. (NASDAQ:EA) just stepped into the earnings confessional last night, and sentiment surrounding the firm's fiscal third-quarter report is mixed. While EA did post profits of $2.52 per share and revenue of $1.98 billion, both of which beat analysts' estimates, the stock can't shake its less-t...Read More

The Dow is eyeing its first monthly close in the red since AugustThe Dow Jones Industrial Average (DJI) has slipped even further below breakeven by midday as fears over the coronavirus completely overshadow any other corporate news. The S&P 500 Index (SPX) isn't close behind, while the Nasdaq Composite Index (IXIC) erased its early morning gains, despite an impressive earnings report from Amazon....Read More

AMZN, VRTX, and DECK stocks are earnings winners this morningEarnings have been in focus all week on Wall Street, and that's continuing today, with a number of big names making notable moves after their quarterly reports. Leading the way of course is Amazon.com, Inc. (NASDAQ:AMZN), as the e-commerce company surges 9.3% to trade at $2,044.83 following the company's better-than-expected quarterly re...Read More

A tweet from a Bloomberg reporter said Marathon was exploring the sale of its Speedway unit Bloomberg is reporting that Marathon Petroleum Corp (NYSE:MPC) is exploring the sale of its Speedway unit, alongside an IPO, and that has shares of the oil refining specialist soaring in pre-market trading. This comes after an announcement in October that the company would spin off its gas and convenience s...Read More

IMB's CEO Ginni Rommetty will be replaced by its cloud business head Arvind KrishnaDow name and chip concern IBM (NYSE:IBM) is moving 4% higher in electronic trading, set to open near $142.22, after news broke that the company's CEO Ginni Rometty will step down in April. Rometty will be replaced by the company's cloud business head Arvind Krishna, who last year headed the company's $34 billion acq...Read More

The WHO has declared the coronavirus a global public health emergencyU.S. stock futures are pointing to a mixed open for stocks, with earnings and the latest coronavirus headlines in focus. Traders are cheering a blowout report from FAANG name Amazon.com (AMZN), while Caterpillar (CAT) shares are moving lower due to the blue chip's disappointing 2020 outlook. Meanwhile, the World Health Organizati...Read More

European steel association Eurofer forecasts a modest recovery in apparent steel consumption in 2020, with risks relating to import volumes, Eurofer said on January 30."2019 was another challenging year for the steel sector, with declines in steel consumption and import levels, which - while down compared to 2018 - were still very high compared to historical levels," director general of Eurofer, A...Read More

Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 376,40146,30986,056192,300553,114654,757685,479 Change from Prior Reporting Period 1,608-10,789-55,418-20,145-11,234-73,955-77,441 Traders 22856825857311180 Small Speculators LongShortOpen Interest 60,78230,060715,539 -4,335-849-78,290 non reportable posi...Read More

The US stock markets dramatically surged mostly in a straight line since mid-October. This extraordinary rally started when the Federal Reserve announced it would resume expanding its balance sheet for the first time in years. The deluge of new liquidity from that quantitative-easing bond buying has again acted like rocket fuel for stock markets. After shooting vertically they are in real...Read More

By: Ira EpsteinGold higher lows and higher highs. $1,567.90 key short-term support. 18-dma at $1,568+Read More

Following up on some of our recent metals research, we wanted to alert our friends and followers to the incredible opportunity that still exists in Silver.  We’ve highlighted two of our more recent articles for reference and review, below.  Silver continues to be one of the most incredible opportunities for 2020 and Silver Miners (SIL) could explode to the upside as the price of Si...Read More

The inter-merchant spot market for light iron scrap in the UK dropped in the week ended Friday January 31, with British domestic prices dragged down by persistent weakness in the European export market to key buyers in Turkey and the Indian subcontinent, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK, w...Read More

South American flat steel import prices either rose or held firm during the week ended Friday January 31, while the absence of China from the market drove customers to look for materials from other origins.The Chinese government postponed the country's return from the lunar new year holiday to February 3, from January 31 originally, amid the outbreak of a coronavirus in Wuhan. Shanghai has extende...Read More

The price of austenitic alloy steel scrap in the UK domestic market decreased this week because of lower nickel costs, sources told Fastmarkets on Friday January 31. Fastmarkets' price assessment for stainless steel scrap 18/8 solids, domestic, delivered merchants UK, was ?750-780 ($979-1,018) per tonne on Friday, down by ?20-30 per tonne from ?780-800...Read More

Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 376,40146,30986,056192,300553,114654,757685,479 Change from Prior Reporting Period 1,608-10,789-55,418-20,145-11,234-73,955-77,441 Traders 22856825857311180 Small Speculators LongShortOpen Interest 60,78230,060715,539 -4,335-849-78,290 non reportable posi...Read More

The US stock markets dramatically surged mostly in a straight line since mid-October. This extraordinary rally started when the Federal Reserve announced it would resume expanding its balance sheet for the first time in years. The deluge of new liquidity from that quantitative-easing bond buying has again acted like rocket fuel for stock markets. After shooting vertically they are in real...Read More