US stock market pounded again for the 6th day in a row.Two back to back days with markets down 3%. The only time it's ever happened three days in a row was during the great depression.Gold living up to its role as a store of value.Bitcoin fails the test as a reserve currency.Bitcoin pumpers forced to admit it is not digital gold. It's digital risk.Democrat candidates pander against each other.Pete...Read More
The newspaper then attacked Cuban Americans who had escaped the communist nation, writing that Sanders' "comments sparked the anger of the most Continue...Read More
As the hysteria surrounding the mysterious coronavirus case in California with no obvious connection to China mounts, California Gov. Gavin Newsom just confirmed that the state is 'monitoring' 8,400 people. Continue...Read More
Health officials have been suggesting the use of face masks to prevent the spread and transmission of the coronavirus, which is quickly spreading around the globe. But the real question is doContinue...Read More
"In the event that the virus effect spreads to Q2, we could see gold top $1800/oz already on a 3-month basis."Continue...Read More
Prices for imported steel billet and domestic rebar in Egypt increased in the week ended Thursday February 27, but demand was still weak, sources told Fastmarkets.Some Egyptian rebar producers increased their prices on Wednesday February 26.Egyptian rebar producers were offering rebar at E ?9,600-10,100 per tonne ex-works including 14% value-added tax, up from last...Read More
China's domestic rebar prices dropped on Thursday February 27 on surging inventories despite a gradual improvement in the country's logistic sector.Eastern China (Shanghai): 3,420-3,450 yuan ($487-492) per tonne, down 30 yuan per tonne Northern China (Beijing): 3,370-3,410 yuan per tonne, down 10 yuan per tonneMost transportation restrictions that had been imposed in various part of the country to...Read More
Those hapless individuals who run the United States are again slipping into a fantasy world where Americans are besieged by imaginary threats coming from both inside and outside the country. Of courseContinue...Read More
Here are five Fastmarkets stories you might have missed on Thursday February 27 that are worth another look.A vessel contracted by Brazil-based miner Vale is grounded off the coast of the country's north-eastern Maranh??o state, having suffered damage after leaving the Ponta da Madeira Maritime Terminal earlier this week.Growing Chinese copper output and an imbalance in trade terms between China a...Read More
Money manager Adrian Day reviews recent results from four senior gold companies in light of recent market conditions stemming from coronavirus concerns. With a higher gold price (in the fourth quarter) than in the same quarter a year ago, results have been generally positive. But last week's jump in the gold price on concerns about coronavirus have taken many gold stocks to short-term overvalued...Read More
Ely Gold Royalties consolidates four claim groups in the district. In a news release, Ely Gold Royalties Inc. (ELY:TSX.V; ELYGF:OTCQB) announced that its subsidiary, Nevada Select, signed a purchase option agreement for Blackrock Gold Corp. to acquire its Tonopah West project in Nevada for $3 million with Nevada Select retaining a 3% net smelter returns (NSR) royalty. The transaction is expected...Read More
Last year's performance by Glencore International is summarized in a BMO Capital Markets report. In a Feb. 18 research note, BMO Capital Markets analyst Edward Sterck reported that Glencore International Plc's (GLEN:LSE) H2/19 results were "better than expected" and its dividend was "significantly higher than our forecast."Sterck reviewed the operational and financial results from full-year 2019....Read More
The novel coronavirus (2019-nCoV) outbreak in South Korea, the largest export market for Chinese stainless steel, is likely to apply additional pressure on stainless steel prices in Asia, sources told Fastmarkets this week. Although the actual impact will be determined by the severity of the measures that the South Korean government undertakes, buyers are likely to exercise more caution while they...Read More
China's auto output and sales fell in January due to a shorter working month as a result of the Chinese New Year, the China Association of Automobile Manufacturers (CAAM) said on Wednesday February 26.A total of 1.767 million vehicles were produced in the country last month, down by 25.4% from a year earlier...Read More
The Dow entered correction territory earlier todayThe Dow plunged to its sixth straight catastrophic loss today, closing 1,190 points lower -- it's worst single-session point drop in history -- amid mounting fears over the global spread of the coronavirus. Today's fall into correction territory followed President Donald Trump's national address yesterday that failed to calm investor worries over t...Read More
The FDA pushed back Zogenix's application approval by three monthsPharmaceutical name Zogenix, Inc. (NASDAQ:ZGNX) is sinking lower this afternoon, suffering a notable 6.5% setback after the Food and Drug Administration (FDA) delayed the company's seizure drug application. The new target date for its Dravet syndrome drug, Fintepla, has now been pushed to June 25.Now trading just below $24, ZGNX ea...Read More
The Dow is down over 650 points midday The Dow Jones Industrial Average (DJI) has sold-off into correction territory, down over 650 points midday, dragged lower in part by Disney (DIS) which is reeling from CEO Bob Iger's resignation announcement yesterday. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also deep in the red at the midway mark. Meanwhile the 10-year Treasury yield just...Read More
Several retail names, including Target, will close out a wild earnings season Earnings season is winding down, though a few notable companies are still slated to post their quarterly reports next week, including retailers Target (TGT), Nordstrom (JWN) and Urban Outfitters (URBN). Several marijuana names will also be in the spotlight, including Cronos Group (CRON) and Tilray (TLRY). Meanwhile,jobs...Read More
An exodus of short sellers could fuel more tailwindsEtsy Inc (NASDAQ:ETSY) announced its fourth quarter profits and the professional creatives have been in the money. Though the reported profits of 25 cents per share are 7 cents lower than the same quarter last year, Etsy out-shotWall Street's mean of expected profits of 16 cents per share. The reported revenue of $270.00 million beat out the esti...Read More
KDP shared earnings that were in-line with estimatesShares of Keurig Dr Pepper Inc (NYSE:KDP) are down 3.34% this morning, last seen at $27.84. The soft drink giant reported strong fourth quarter and full-year results, with earnings that ran in-line analysts' estimates. Meanwhile, KDP expects net sales growth in 2020, as they prepare for a long-term partnership with Nestle USA that will allow the...Read More