SFIX will report earnings after the close on Tuesday, Oct. 1As earnings season starts to pick up again, online stylist Stitch Fix Inc (NASDAQ:SFIX) will be one of the first companies to step up to the plate, set for its fiscal fourth-quarter report after the close this Tuesday, Oct. 1. Ahead of the event, SFIX is struggling today -- down 1.7% to trade at $18.49 at last check -- after a fresh bea...Read More
The interplay between gold and silver is a critical component to understanding what is out ahead; to understanding whether long-term Treasury yields will rise and if they rise, whether it will be due to inflationary pressures. It is a critical component to understanding whether cyclical commodities and other aspects of a greater inflation/reflation trade will finally break existing downtrends. See...Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 370,39357,94961,489163,585508,730595,467628,168 Change from Prior Reporting Period 28,882-963-3,89357727,32325,56622,467 Traders 22068775253299174 Small Speculators LongShortOpen Interest 63,47730,776658,944 2,3885,48727,954 non reportable...Read More
The gold miners' stocks have largely ground sideways in the last couple months, consolidating their big mid-summer gains. That drift is slowly bleeding away greedy sentiment, but this sector remains really overbought. Gold stocks' dominant driver gold is even more overbought, and still facing a massive gold-futures-selling overhang. This makes October, gold stocks' weakest month seasonally...Read More
By: Ira EpsteinGold daily chart: sideways market. Should gold get under $1,492, this market could get very ugly, very fast. If it doesn't do that then what?Read More
By: Gary SavageThe Odds Are Very High That the Daily Cycle Has ToppedRead More
We've been monitoring Apple shares closely because they look very likely to rise at least 10% above their current $220 price before bulls are spent. AAPL is a powerful engine for the bull market, and a big rally in the stock would all but ensure that the broad averages get dragged higher or at least remain buoyant. The chart shows another reason why it may be premature to bet against the aging...Read More
Micron's results are weighing on the entire tech sectorThe Dow Jones Industrial Average (DJI) was eyeing a strong close to the week, thanks to confirmation that the U.S. and China are set to meet for trade talks next month. However, the blue-chip index has since pared the bulk of these earlier gains, after a Bloomberg News report suggested the Trump administration is considering limiting capital f...Read More
The analyst thinks Atara Biotherapeutics stock could sink 34% The shares of drugmaker Atara Biotherapeutics Inc (NASDAQ:ATRA) are hurting today, following a scathing bear note from Goldman Sachs. The analyst downgraded the stock to "sell" from "neutral," and slashed its price target to $9 from $14 -- a roughly 34% discount to last night's close. Goldman cited Atara's lack of near-term catalysts an...Read More
Short interest dropped drastically during the most recent reporting periodDrugstore name Rite Aid Corporation (NYSE:RAD) is quickly erasing yesterday's post-earnings gains, 8.4% lower at $7.17 at last check. Today's pullback is far from unusual for the shares, however, with the stock within one standard deviation of a key trendline -- one which holds historically bearish implications. Specifical...Read More
Despite evidence of a slowing economy, shipments of rawmaterials are gliding across Chinese docks at a torrid pace, especially metals,which form the backbone of China’s industrial supply chain. In fact a recent report shows that, while Chinese importsare down 5% compared to last year, and the trade war is hitting China’smanufacturing sector, imports of raw materials and ores “con...Read More
Applied Genetic Technologies' eye disease drug met its early-stage goalsTwo drug stocks are cheering promising trial data this morning. First up is blue-chip Pfizer Inc. (NYSE:PFE), which reported positive results in its late-stage trials of an oral drug for severe eczema. The treatment met the main goal of the study, and the full results will be presented at an upcoming conference next month in...Read More
It's been a wild ride for BOX stock this monthBox Inc (NYSE:BOX) is trading down 5% at $16.21, after J.P. Morgan Securities downgraded the shares to "underweight" from "neutral," citing increased competition from Microsoft (MSFT) and Alphabet's (GOOGL) Google. The brokerage firm said a survey it ran showed many Box customers are considering changing to one of these two competitors, and many are at...Read More
MTCH is already up 73% in 2019Evercore ISI lifted its rating on Match Group Inc (NASDAQ:MTCH) to "outperform" from "in line," and boosted its price target to $95 from $78 -- a 33% premium to last night's close at $71.44, and just below the stock's Aug. 7 record high of $95.31. In reaction, MTCH stock is up 3.6% at $74.01.Match Group shares have already turned in a strong performance in 2019, up 73...Read More
Las Vegas Sands is set to replace Nektar Therapeutics on the S&P 500 next weekIt was announced last night that casino name Las Vegas Sands Corp. (NYSE:LVS) will be joining the S&P 500 Index (SPX), replacing Nektar Therapeutics (NKTR), which is headed to the S&P MidCap 400 Index (MID), prior to the open next Thursday, Oct. 3. The equity is up 4.7% at $58.48 in response, set for its highest close in...Read More
Several analysts have handed out bear notesCarnival Corp (NYSE:CCL) is suffering another blow this morning, mere days after the Thomas Cook collapse. In fact, CCL is down 1.8% lower at $43.18, still reeling on the back of yesterday's dismal earnings report and lowered fiscal year profit forecast. The company cited higher fuel prices for the weak outlook, despite reporting a third-quarter earnings...Read More
The U.S. and China set a date for their next round of trade negotiationsFutures on the Dow Jones Industrial Average (DJI) are above fair value this morning, after the U.S. and China said they will hold two-day high-level trade negotiations beginning on Thursday, Oct. 11, in Washington. However, pre-market gains are modest, as traders digest an onslaught of economic reports, including a slimmer-tha...Read More
Aluminium billet premiums in Europe and Brazil fell to new lows on Friday September 27, while spot market illiquidity in Asia and the United States left the premium in each of those regions unchanged. European premiums fall to multi-year lowsBrazilian premium dampened by weak demandThai premium extends inactivity to nine monthsUS premium flat for eight weeks; contract talks ongoingPoor demand plag...Read More
Pig iron exporters in the south of Brazil have resumed sales activity after a month-long silence, although the price has gone down because of low demand in response to falling scrap prices.Fastmarkets' weekly price assessment for pig iron, export, fob Vitorio/Rio, Brazil, was $275-280 per tonne on Friday September 27, down from $285-300 per tonne last week.Over the week, suppliers sold several car...Read More