Prices for steel billet in Egypt continued to rise in the week to Thursday December 5, despite only moderate demand for rebar from the construction sector, sources told Fastmarkets.Egyptian rebar producers were offering rebar at E ?10,000-10,750 ($619-665) per tonne ex-works including 14% VAT, sources said, up from last week's E ?10,000-10,500 per tonne ex-works including VAT. ...Read More
With competition in the global steel markets still fierce, Fastmarkets provides an update on the new, progressing and closed trade cases from around the world in November 2019.1. US: stainless pressure pipe from China, Malaysia, Thailand and VietnamRead More
Chinese stainless steel prices in both the domestic and export markets fell over the past week amid bearish sentiment stemming from the high inventories held at a major mill in eastern China.DomesticFastmarkets' weekly price assessment for stainless steel cold-rolled coil 2mm grade 304 domestic, ex-whs China in the country's major market of Wuxi was 14,400-15,000 yuan ($2,040-2,125) per tonne incl...Read More
The Dow remained relatively static as investors kept a wary eye on the U.S.-China trade conflict The Dow was relatively static today, trading on both sides of breakeven before eventually eking out a small win. Investors continued to turn a wary eye to the U.S.-China trade conflict, while economic data was also in focus. Elsewhere, investors paid specific attention to Nike (NKE) after an upgrade fr...Read More
FB weeklies are popular todayFacebook, Inc. (NASDAQ:FB) is basically flat today, much like the broader market, following mixed reviews from analysts. Stifel upgraded its opinion to "buy" from "hold" and lifted its price target to $240 from $215 -- though this note was outmatched by a vicious bear note from HSBC. The brokerage firm began coverage with a "reduce" recommendation and $178 price target...Read More
CLDR is in recovery mode after its early June plungeCloudera Inc (NYSE:CLDR) stock is up 1.1% at $9.96 this afternoon, with options traders likely prepping for the software firm's third-quarter report. The company's earnings are scheduled for after the close today, and below, we will dive into what the options market is expecting for the stock's post-earnings move.CLDR has been on a steady climb h...Read More
With competition in the global steel markets still fierce, Fastmarkets provides an update on the new, progressing and closed trade cases from around the world in November 2019.1. US: stainless pressure pipe from China, Malaysia, Thailand and VietnamRead More
A surging retail sector is giving Dollar Tree stock a lift The shares of Dollar Tree, Inc. (NASDAQ:DLTR) are on the rebound today, on a halo lift from several retail stocks that are surging post-earnings. Today's pop closely follows Dollar Tree's own earnings report on Nov. 25, which caused the stock to lose 15.2% on the day. The equity seems to have found support in the $88-$90 region -- home t...Read More
Fed Chair Jerome Powell will speak Wednesday afternoon after the Fed's decision Kicking off the second week of December is a slightly lighter batch of earnings, with retail at the forefront yet again. Big names like Stitch Fix (SFIX), American Eagle Outfitters (AEO), Children's Place (PLCE), Lululemon Athletica (LULU), and Tailored Brands (TLRD) make up a large portion of the list, as well as tech...Read More
Oil prices are rising againStocks are generally searching for direction at midday, as investors consider a muddied outlook for U.S.-China trade talks. The Dow Jones Industrial Average (DJI), S&P 500 Index (SPX), and Nasdaq Composite (IXIC) are all trading in the red at last check, despite another positive day for the energy sector. January crude futures are trading up 0.3%, at $58.63 per barrel, a...Read More
Through the first half of 2019, silver significantlyunderperformed gold. Put another way, gold gained relative to silver –culminating in the gold:silver ratio registering a 27-year high of 95:1. That market signal was received by the mining industry. Sincethere are few primary silver producers, and those that do mine silver alsotypically mine gold and some base metals, precious metals miners...Read More
American Outdoor Brands will report its second-quarter earnings after the close today The shares of American Outdoor Brands Corp (NASDAQ:AOBC) are popping ahead of the firm's second-quarter earnings report due out after the close tonight. AOBC is up 3.2% to trade at $9.32, so far. Looking back, the security has been in rally mode since bottoming out at an eight-year low of $5.41 in early October,...Read More
CMG options are affordably priced at the moment, tooIt's been almost over a month since we last checked in with Chipotle Mexican Grill, Inc. (NYSE:CMG), when analysts were piling on the bull notes ahead of earnings. A lot has gone down since then, but the song sounds the same for Chipotle stock, as the analyst community remains skeptical.According to Schaeffer's Senior Quantitative Analyst Rocky...Read More
The ISM Manufacturing index fell 0.2 point to areading of 48.1 in November. However, gold struggles to find momentum. What isgoing on exactly? U.S.Manufacturing Sector Slumps FurtherThe Institute for Supply Management announced that its index of national factoryactivity dropped from 48.3 in October to 48.1 last month. The number was belowexpectations and it also remained below the 50 threshold, in...Read More
- RambusI can remember there were times during the PM complex bull market before 2011 that sometimes the PM metals would rally but the PM stocks were very weak. Then there were times when the PM stock would rise while the PM metals moved very little. At the time of those occurrences it was bewildering as common sense suggested they should all move together and the stronger the metals moved so...Read More
By: Ira EpsteinI do not buy anything Trump is saying in front of NATO, for the press, in negotiations in his trade-deals. Next round of sanctions with China is nearing and will know more soon. Gold still not over the key 18-week moving average, negative bias remains..Read More
Gold and silver would have skyrocketed yesterday but for news of nearing of a trade deal. US November private ADP numbers stood at 67,000. If nonfarm payrolls on Friday matches ADP, then chances of interest rate cut in next week FOMC could be very high. Gold just corrected on trade deal news while silver fell. Crude oil zoomed. Trump has a history of flip-flop, unless a trade deal is actually si...Read More
DFS still remains 41% higher year-to-dateDiscover Bank parent Discover Financial Services (NYSE:DFS) is down 1.3% to trade at $82.76 this morning. Weighing on the equity is a fresh downgrade to "neutral" from "buy" and price-target cut to $89 from $96 out of Instinet. The analyst in coverage is pessimistic about the company's upcoming earnings growth. DFS is now pulling back to recent support of...Read More
Weekly call traders had an interest in all three stocksRetail stocks are still in focus on Wall Street, with Dollar General Corp. (NYSE:DG), Five Below Inc (NASDAQ:FIVE), and Signet Jewelers Ltd. (NYSE:SIG) all making post-earnings moves this morning -- and all to the upside. Let's take a quick look at how DG, FIVE, and SIG shares are trading, and some of the data to consider for each name.Startin...Read More
When gold’s price reached $850 per ounce in January 1980, it seemed as if nothing would stop the runaway train that was headed straight for $1000 per ounce. But it was stopped, and began sliding downhill quickly.By June 1982, two and one-half years later, gold’s price had declined by sixty-five percent. At close to $300 per ounce, the price of gold seemed farther away from the $1000 ma...Read More