Both L Brands and Nordstrom are sinking ahead of earningsStocks are struggling at midday amid lingering concerns over U.S.-China trade negotiations. Although the major benchmarks have come off their intraday lows, the Dow Jones Industrial Average (DJI) is down more than 90 points at last check on sharp losses forconsumer products specialist 3M (MMM). The S&P 500 Index (SPX) is also in the red, whi...Read More
Tilray still remains close to its Nov. 15 record lowWeed stock Tilray Inc (NASDAQ:TLRY) is up 5.2% at $21.02 today, and the mini-rally has options traders coming out of the woodwork. It's not to bet on more losses though, and it appears some traders are calling a bottom on the struggling cannabis concern. More specifically, calls are being traded at 1.7 times the average intraday amount today, wh...Read More
Tata Steel has outlined proposals to build a stronger and more sustainable business in Europe, which include cutting up to 3,000 jobs, the company said on Monday November 18.The programme is needed to "ensure the business can thrive despite severe market headwinds which have led to a sharp decline in profitability", the company said.In the first six months of its current financial year, which comm...Read More
Urban Outfitters posted third-quarter results that missed analysts' estimates The shares of apparel retailer Urban Outfitters, Inc. (NASDAQ:URBN) are trading back near their late-September levels this morning, following a badly received third-quarter earning report. The firm posted revenue of $987 million that missed analysts' consensus estimate, citing weakening demand for its women's clothing br...Read More
One brokerage firm likes Intelsat's risk/reward profileIt's been a volatile stretch for Intelsat SA (NYSE:I) stock, as evidenced by its 30-day historical volatility of 237.1% -- an annual high. Most of this action has been to the downside, after the Federal Communications Commission (FCC) backed a public auction for C-band spectrum, with I shares plunging from a Nov. 5 intraday peak at $26.90 to y...Read More
InFriday’s article, we wrote that what comes up must correct and gold has indeedshown to be in a corrective mode. We also wrote that the yellow metal wasunlikely to break below the 61.8% Fibonacci retracement based on the previousupswing and while gold moved to this level earlier today, it didn’t break belowit. At least not in any significant way – the few cents below this leveld...Read More
Intelsat options are quite pricey at the moment, thoughIt's been a week to forget for Intelsat SA (NYSE:I). The communications satellite services provider is cruising toward a 45.3% weekly loss -- set to be its worst week ever -- after rumors swirled that the Federal Communications Commission may opt for a public C-Band auction. The reports were enough for J.P. Morgan Securities to issue a downg...Read More
ARAV is heading toward its highest close since June 2018Once more, a surging biotech sits at the top of the Nasdaq after positive data for a cancer drug. Today its Aravive Inc (NASDAQ:ARAV), up 106% to trade at $13.78, after the Texas-based firm's ovarian cancer treatment reported positive data in an early-stage trial. It's set to be Aravive's best single-session gain ever by a wide margin, and...Read More
By: Gary SavageThe bullion banks have been able to take gold down at will, dumping gold contracts usually in the pre-markets..http://blog.smartmoneytrackerpremium.com/Read More
- Stewart Thomson, Graceland Updates 1. Top US politicians describe the US economy as the "mightiest of all time". 2. Please click here now. Houston, we have a problem! The next tariff tax deadline is now only about three weeks away. 3. While Trump's diehard fans may want him to hike these taxes again if China doesn't "play ball", massive FOREX liquidity fl...Read More
By: Ira EpsteinGold formally ended a downtrend phase. $1,456.60 is swingline support short-term..Read More
A Wall Street Journal report said an impasse between the U.S. and China might thwart the "phase one" dealStock futures are pointing lower today after the Wall Street Journal said recent trade talks between the U.S. and China could soon come to an "impasse," which could stop the much-anticipated phase one agreement from happening. This comes shortly after President Donald Trump's threat to raise ta...Read More
Brazilian miner Vale has diversified its iron ore sales to yuan-denominated futures contract pricing, which is the first time for global miners to use such pricing.Vale's Shanghai branch has signed a deal with the trading arm of Shandong Laigang Yongfeng Steel for a Qingdao-port-delivered cargo of Brazilian Blend fines to be priced against the May 2020 iron ore futures contract on China's Dalian C...Read More
A look at how stocks perform when the 20-day historical volatility falls below 5%The S&P 500 Index (SPX) has been grinding higher for several weeks now. With the slow grind, the 20-day historical volatility (HV) is on the verge of falling below 5% -- a rare feat. Low volatility usually corresponds to positive returns, and with the S&P 500 up six straight weeks, this time is no different. This week...Read More
Ifyou live in the UK and are interested in cannabis seeds, it is not always clearwhat is within the limits of the law and what is not. You might wonder forexample: is it legal to order cannabis seeds in the UK through this web shop orvia cannabis seed companies like Vault, Gorilla and Attitude seed bank? Theshort answer to that question is: Yes. It is legal to order and own cannabisseeds in the UK...Read More
Improved sentiment has taken hold in the European hot-rolled coil market, but so far domestic prices have recovered only in Italy while those in the the North of the region remain largely unchanged, sources told Fastmarkets on Wednesday November 20.Fastmarkets' weekly price assessment for steel HRC, domestic, exw Northern Europe, was ?,?420-425 ($465-471) per tonne on November 20, unchanged over t...Read More
Gold major Barrick just tripled its profits… Newmont Goldcorp, also reported a big jump in profits over the last couple of months.But what most investors don’t know is that mostof the money is made in the discovery of new world-class gold deposits. And geologists now think they could havehit the motherlode in a new mining frontier… It all started when miners found a nugget of s...Read More
The three-month nickel price on the London Metal Exchange continued to fall at the close of trading on Wednesday November 20, with continued selling pressure and supportive forward spreads prompting the metal's lowest close since July.Nickel's outright price on the LME closed at $14,360 per tonne in the afternoon, falling by just over 2% from an intraday high of $14,695 per tonne. Turnover was at...Read More
Prices for hollow steel sections in Northern and Southern Europe were unchanged this week although mills continued to make higher offers, market sources told Fastmarkets on Wednesday November 20.Fastmarkets' weekly price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?560-580 ($620-642) per tonne on Wednesday, unchanged week on week."The market is on the positiv...Read More
The Iranian steel market was gripped by uncertainty this week after violent protests erupted across the country following a government decision to increase petrol prices. "There are lots of strikes, [many] banks [and petrol stations] have been burned down and many government buildings destroyed," one market source said adding that trading activity had been limited this week.The coun...Read More