HON is seeing support at both the 80- and 160-day moving averagesNorth Carolina-based Honeywell International Inc. (NYSE:HON) has been outperforming on the charts long term, and is now breaking out of a bull flag pattern. The stock also recently came off a convergence of its 80-day and 160-day moving averages, signaling that now is the perfect time to bet on HON with calls. Digging deeper, there l...Read More
Micron will report earnings after the close tomorrowAhead of its fiscal first-quarter earnings report due after the close tomorrow, Dec. 18, analysts are heaping the praise on Micron Technology, Inc. (NASDAQ:MU). Wedbush upgraded the chip stock to "outperform" from "neutral," while hiking its price target all the way to $65 from $44. The analyst in coverage cited several macro trends that could be...Read More
BBBY is continuing its trend higher on the chartsAs a part of Bed Bath & Beyond Inc.'s (NASDAQ:BBBY) new CEO Mark Tritton's 2020 restructuring plan, the home product retailer announced the departure of six senior members. A search to fill the newly combined role for the Chief of Marketing and Chief Brand Officer is also underway, as well as a permanent placement for the remaining positions. Tritto...Read More
Federal Reserve ChairmanJerome Powell’s comments on inflation last Wednesday added fuel to the contra-dollartrade.During a press conferencefollowing the Fed’s decision to leave interest rates unchanged, Powell said,“In order to move rates up, I would want to see inflation that's persistent andthat's significant. A significant move up in inflation that's alsopersistent..."To...Read More
GS stock received a price-target hike this morningGoldman Sachs Group Inc (NYSE:GS) has benefited from the recent stock market rally, hitting a 52-week high of $230.70 yesterday. During this breakout, call buying has ramped up at the major exchanges. This is according to the 10-day call/put volume ratio at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PH...Read More
Roku stock remains 350% higher year-to-dateRoku Inc (NASDAQ:ROKU) stock's troubles are continuing today, after the streaming company announced its Chief Financial Officer (CFO) Steve Louden will be stepping down from the position, as soon as his replacement is found. Louden cited his desire to relocate to Seattle,as the reason for his resignation. In response, the shares of ROKU are down 2.1% at $...Read More
Stewart Thomson, Graceland Updates 1. The amount of debt in both China and the United States is horrifying and it continues to grow. 2. Debt growth is worshipped by millions of people who think it is a cure rather than a disease. 3. Please click here now. Until the trade war began, the Chinese government was pressuring the country's private sector to reduce...Read More
Dow and S&P futures are little changed after Monday's record highsMarkets kicked off the week with record highs yesterday, but Dow Jones Industrial Average (DJI) futures are signaling a slightly lower open today. After a 4.3% drop on Monday, Boeing (BA) once more is the culprit, with the shares under pressure after the aerospace giant officially announced it's suspending production of the 737 Ma...Read More
Stefan Gleason, Money MetalsGold and silver prices remain mired in weeks-long trading ranges. They are essentially moving sideways - for now.Precious metals mining stocks, however, are moving up. The chart of the HUI gold miners index shows an uptrend in place since mid October.The HUI has traded above its 50-day moving average for several days in a row. The 50-day line itself is now also curlin...Read More
Economic news will be the key for now. Hedge funds and others are increasing their allocation to stocks for the first quarter of next year. It remains to be seen if gold ETF and gold investment demand see significant outflows. At current prices, I am against new very short term investment in gold. Silver use any 100-150 fall (if any) to invest. TODAY: It is wait and watch trade for gold, crude o...Read More
Fastmarkets' Middle East Iron and Steel 2019 event brought together hundreds of the region's top industry executives for meetings, panels, seminars and more this month in Dubai.Delegates left the conference armed with valuable insight to better navigate the industry waters made turbulent by safeguards and other protectionist policies. Participants heard calls from the Turkish steel industry for a...Read More
Global trade's main problem is a lack of fair play rather than a lack of fair trade, Ugur Dalbeler, a board member of the Turkish Iron & Steel Producers' Association (T???oeD), said during his presentation at Fastmarkets' Middle East Iron and Steel Conference in Dubai.Several countries and regions are bypassing the World Trade Organization's (WTO) regulations, Dalbeler - also the chief executive o...Read More
The re-election of incumbent Indonesian President Joko Widodo for a second five-year term has made market participants optimistic about an upswing in steel demand from 2020 after market conditions disappointed in 2019. "I expect steel demand to improve next year when the uncertainty in the market fades with the resumption of existing infrastructure developments and the launch of fresh projects," a...Read More
Fastmarkets' Middle East Iron and Steel 2019 event brought together hundreds of the region's top industry executives for meetings, panels, seminars and more this month in Dubai.Delegates left the conference armed with valuable insight to better navigate the industry waters made turbulent by safeguards and other protectionist policies. Participants heard calls from the Turkish steel industry for a...Read More
Stewart Thomson, Graceland Updates 1. The amount of debt in both China and the United States is horrifying and it continues to grow. 2. Debt growth is worshipped by millions of people who think it is a cure rather than a disease. 3. Please click here now. Until the trade war began, the Chinese government was pressuring the country's private sector to reduce...Read More
Stefan Gleason, Money MetalsGold and silver prices remain mired in weeks-long trading ranges. They are essentially moving sideways - for now.Precious metals mining stocks, however, are moving up. The chart of the HUI gold miners index shows an uptrend in place since mid October.The HUI has traded above its 50-day moving average for several days in a row. The 50-day line itself is now also curlin...Read More
By: Ira EpsteinGold needs to hold $1,450 area and break $1,490 area to get bullish:Read More
Economic news will be the key for now. Hedge funds and others are increasing their allocation to stocks for the first quarter of next year. It remains to be seen if gold ETF and gold investment demand see significant outflows. At current prices, I am against new very short term investment in gold. Silver use any 100-150 fall (if any) to invest. TODAY: It is wait and watch trade for gold, crude o...Read More
All segments of the metals industry - especially aluminium and steel producers that supply the aerospace sector - are likely to be affected by Boeing's decision to suspend production of its grounded 737-Max airplanes in January 2020, an industry expert told Fastmarkets.Metals suppliers who provide materials to airplane parts manufacturers on shorter lead times - within three to six months - will b...Read More
A summary of base metals premiums from across the globe for the week to Tuesday December 17.Please click...Read More