Moderna's vaccine captured the attention of Wall StreetThe coronavirus pandemic is still very much a dire issue in the U.S., but economies are starting to reopen and that seems to be enough for Wall Street. The Dow Jones Industrial Average (DJI), the S&P 500 Index (SPX) and the Nasdaq Composite (IXIC) are all cruising toward sizable weekly wins, as investors unpack a host of volatile headlines fo...Read More
The weekly 5/22 27-strike put is running the show todayThe shares of Foot Locker Inc (NYSE:FL) are near the bottom of the New York Stock Exchange (NYSE) today, last seen down 12.8% at $25.30. The sneaker retailer reported a first-quarter loss that exceeded Wall Street estimates, while revenue also missed its mark. The culprit, of course, is the store closures wrought from the COVID-19 pandemic. I...Read More
The Dow is down over 100 points middayThough all three indexes remain in the black for the week, the Dow Jones Industrial Average (DJI) is down over 100 points midday, as U.S.-China tensions mount, outweighing the positive sentiment from Director of the National Institute of Allergy and Infectious Diseases, Dr. Anthony Fauci, that a coronavirus vaccine could be available in the U.S. by December....Read More
Decker's earnings and revenue beat out analysts' estimates The shares of Deckers Outdoor Corp (NYSE:DECK) are up 10.7% at $186 at last check, following a positive fiscal fourth-quarter report. The UGG parent reported profits of 57 cents per share, much higher than the anticipated 9 cents per share estimated by analysts, as well as higher-than-expected revenue. Following this, no fewer than eight a...Read More
Palo Alto's third quarter earnings and revenue beat Wall Street's estimatesPalo Alto Networks Inc (NYSE:PANW) chimed in with earnings after last night's close, and things are looking even better for a company that's already up 40% for the quarter. The cybersecurity platformposted fiscal third-quarter earnings of $1.17 on $869.40 billion in revenue, both of which decimated Wall Street's estimati...Read More
The tractor manufacturer's fiscal second-quarter earnings and revenue topped analysts' expectationsThe shares of tractor name Deere & Company (NYSE:DE) are eyeing their third consecutive win today, up 3.1% at $147.20 in pre-market trading after the firm's fiscal second-quarter earnings and revenue beat analysts' estimates, even on a 41% drop in quarterly profits. The company blamed a sharp decline...Read More
Dr. Fauci called Moderna's possible coronavirus vaccine "promising" Dow Jones Industrial Average (DJI) futures are hovering just above fair market value this morning, as Wall Street looks to wrap up a winning week and head into Memorial Day weekend on a high note. Gains are capped as tensions between the U.S. and China increased overnight, after China released a draft legislation regarding new se...Read More
To be bullish or not to be – thatis the question. Or it might have been the question, if someonenamed Shakespeare wrote a piece titled Investhamlet.The choice whether to be bullish or bearish orneutral on a given asset should be made each day, each time based on theinformation that is currently available. Let’s check the new signs that we sawyesterday. First of all, we just saw a beari...Read More
Gold COT Report - FuturesLarge SpeculatorsCommercialTotalLongShortSpreadingLongShortLongShort295,39443,60639,245133,715423,889468,354506,740Change from Prior Reporting Period 17,6238,6634,0877,69219,33329,40232,083Traders22060846060318172 Small Speculators (C) GoldSeek.com LongShortOpen Interest 59,85121,465528,205 2,064-61731,466 non reportable positionsChange from t...Read More
By: Ira EpsteinAbbreviated trading sessions coming up with the holiday coming up. Traders will even up. When you take a look at gold, consolidating into a pattern of..Read More
Brazilian iron ore exports are not being affected by the increase in Covid-19 cases in the country, despite recent data showing a slowdown, Usiminas' mining arm director Carlos Rezzonico said in a conference call on Friday May 22.Minera????o Usiminas (Musa), a 70:30 joint venture between Usiminas and Japanese group Sumitomo Corp, has been operating normally during the pandemic, the executive told...Read More
By Jordan Roy-ByrneThe precious metals sector may have begun a correction on Wednesday. The miners (GDX, GDXJ) sold off after reaching significant resistance levels while the metals are trading just below significant resistance levels. We mentioned these targets in our article last week.GDXJ has pulled back a bit after testing 7-year resistance while GDX has pulled back after hitting a key piv...Read More
Gold COT Report - FuturesLarge SpeculatorsCommercialTotalLongShortSpreadingLongShortLongShort295,39443,60639,245133,715423,889468,354506,740Change from Prior Reporting Period 17,6238,6634,0877,69219,33329,40232,083Traders22060846060318172 Small Speculators (C) GoldSeek.com LongShortOpen Interest 59,85121,465528,205 2,064-61731,466 non reportable positionsChange from t...Read More
The mid-tier gold miners in the sweet spot for stock-price upside potential have enjoyed a massive run since mid-March's stock-panic lows. They've already more than doubled in the couple months since! Their just-released Q1'20 operational and financial results reveal whether these huge gains are righteous fundamentally, whether this uptrend is likely to persist, and how COVID-19 shutdowns ar...Read More
By Richard (Rick) Mills"There is a Chinese curse which says 'May he live in interesting times.' Like it or not we live in interesting times. They are times of danger and uncertainty; but they are also more open to the creative energy of men than any other time in history." - President John F. Kennedy, in a speech in Cape Town, South Africa, in 1966 JFK's "Chinese curse" meme seems appropriate...Read More
By: Ira EpsteinAbbreviated trading sessions coming up with the holiday coming up. Traders will even up. When you take a look at gold, consolidating into a pattern of..Read More
Key data from the pricing sessions in Asia, Europe and the United States for the session ending Friday May 22.China The domestic market experienced a small recovery on tight supply following the wave of production cuts among ferro-silicon producers in April. Export...Read More
The market for pig iron exports from southern Brazil went up again in the week to Friday May 22 amid new sales to China.Fastmarkets' price assessment for pig iron, export, fob port of Vitoria/Rio, Brazil was $290-295 per tonne on Friday, up by $10 per tonne from $280-285 per tonne a week earlier.Read More
Key data from the pricing sessions in Asia, Europe and the United States for the session ended Friday May 22.China Domestic ferro-chrome spot prices rose on bullish sentiment after Tsingshan raised its June tender price by 500 yuan ($70) per tonne. The UG2 chrome ore price was underpinned by continuing disruptions in South Africa, with deals reported at higher prices. Market sentiment strengthened...Read More
Miners and processors considering production cuts cannot ignore safety or care and maintenance, including of associated asset infrastructure, the former chief executive officer of Anglo American said.Cynthia Carroll told Fastmarkets during a webinar interview that taking the decision to curtail output in deteriorating demand and pricing environments such as those being seen during the Covid-19 pan...Read More