The range trade in gold and silver which has been there in November will be broken in December. Volatility will rise. A new trend should be formed in December. I expect the US dollar Index to crash. Brexit, US jobs numbers and actual signing of the US-China trade deal should be market mover or market shaker in December. Gold managed to trade over $1448 and needs to trade over $1448 to try and ri...Read More
Amazon is one of the worst S&P stocks for December With the unofficial start to the holiday shopping season kicking off during Black Friday, investors might be interested to see which stocks tend to do the best, and which are notorious underperformers next month. One name that could come as a surprise is Amazon.com, Inc. (NASDAQ:AMZN). In fact, the e-commerce giant is the only FAANG name to show u...Read More
The precious metals sector remains in a correction. The miners have shown some positive signs but are not ready to move yet because the metals likely have more correction ahead. Technical support levels can provide us with low risk buy opportunities but combine that with sentiment data and we increase our odds of success. One reason why the sector is stuck in a correction is because the net specul...Read More
There's a lot of pessimism around THC to be unwound The shares of Tenet Healthcare Corp (NYSE:THC) are up 2% to trade at $32.56 today, just a chip-shot off Monday's annual high of $32.89. There's reason to believe more highs are on the horizon, with the healthcare stock flashing a bullish signal for the final month of 2019. More specifically, THC's Monday high comes amidhistorically low implied...Read More
Third-quarter GDP was better than expectedStocks are little changed at midday, as traders look ahead to tomorrow's Thanksgiving Day holiday. While the price action is muted, there's plenty of economic data to digest, including a stronger-than-anticipated reading on third-quarter gross domestic product (GPD) and an eighth straight monthly rise in consumer spending in October. At last check, the Dow...Read More
VMware posted third-quarter earnings and revenue that both beat analysts' estimates The shares of software concern VMware, Inc. (NYSE:VMW) are up 2.3% to trade at $168.75 this morning, after the firm posted third-quarter profits of $1.49 per share, and revenue of $2.46 billion -- both of which beat analysts' estimates. VMware cited strengthening sales for its Hybrid Cloud subscription and SaaS.Ana...Read More
DE is set to breach a key trendline todayA notable earnings loser this morning is Deere & Company (NYSE:DE). Although the machinery company reported fiscal fourth-quarter earnings and revenue that topped estimates, Deere issued a full-year profit forecast that fell short of analyst expectations. CEO John May cited "lingering trade tensions" and severe harvesting conditions as catalysts for the dr...Read More
Options traders have taken a put-focused approachPVH Corp (NYSE:PVH) has been one of a number of retailers to report earnings in recent days, with Monday's post-close report initially sending the shares higher in yesterday's trading -- only to see them ultimately close 0.5% lower at $100.05. The round-number $100 price point seems to be acting as a magnet for the stock, after previously representi...Read More
Upbeat trade comments from Trump have stock futures pointed higher this morning Stock futures are pointing to a positive open ahead of the Thanksgiving holiday,as U.S. President Donald Trump said the U.S. and China are in the "final throes of a very important deal." The comments followed a phone call between the two nations in which negotiations were discussed, and an agreement to keep working thr...Read More
Algerian Qatari Steel (AQS) started its own steel production last week, the company told Fastmarkets at the sidelines of the Arab Iron & Steel Union (AISU) annual summit in Tunisia on Wednesday November 27. The company used to import steel billet, but a source at the company told Fastmarkets: "We have stopped importing semis some time ago, continuing with re-rolling billet from stocks imported ear...Read More
How Black Friday has been a signal for stocks in the past 30 years Thanksgiving is upon us tomorrow, followed by one of the busiest shopping days of the year. Black Friday, evidently, isn't necessarily the busiest shopping day of the year as retailers run deals earlier and online shopping has become more popular. It still marks the unofficial beginning of holiday shopping. Next week, reports of Bl...Read More
Anglo American has sold a 12% interest in the Grosvenor coal mine in Queensland, Australia, to a consortium of Japanese companies, including steelmaker Nippon Steel, it said on Wednesday November 27.Under the terms of the agreement, which is subject to a number of conditions prior to completion, Anglo American will receive cash proceeds of approximately $141 million in respect of the 12% minority...Read More
Global crude steel production totaled 151.49 million tonnes in October, down by 2.8% from the same month a year earlier, according to data released by the World Steel Association (Worldsteel) on Tuesday November 26.Chinese steelmakers contributed 81.52 million tonnes to that amount, a decrease of 0.6% from the 82.01 million tonnes they produced in October 2018.Indian...Read More
An overview of the minor metals markets and their latest price moves.Read More
Gary Christenson, The Deviant InvestorInvestopedia says, "In the United States, the Federal Reserve acts as the lender of last resort to institutions that do not have any other means of borrowing, and whose failure to obtain credit would dramatically affect the economy."The Fed has created $billions in the past ten weeks (more on the way) and fed those billions into troubled banks, hedge fund...Read More
Stewart Thomson 1. With India's titanic physical market now switching from a price discount to a premium, the door is open for the end of gold's healthy and graceful price reaction.2. Please click here now. Double-click to enlarge this daily chart.3. A beautiful bull wedge pattern has formed. A week ago, I suggested gold would stall at $1480 minor resistance and an ensuing dec...Read More
Jordan Roy-Byrne CMT, MFTAThe precious metals sector remains in a correction. The miners have shown some positive signs but are not ready to move yet because the metals likely have more correction ahead.Technical support levels can provide us with low risk buy opportunities but combine that with sentiment data and we increase our odds of success.One reason why the sector is stuck in a correction...Read More
By: Ira EpsteinGold could see another wave to the downside if the low of yesterday does not hold:Read More
The range trade in gold and silver which has been there in November will be broken in December. Volatility will rise. A new trend should be formed in December. I expect the US dollar Index to crash. Brexit, US jobs numbers and actual signing of the US-China trade deal should be market mover or market shaker in December. Gold managed to trade over $1448 and needs to trade over $1448 to try and ri...Read More
Key data from the November 27 pricing session in London. Key drivers: - Cobalt prices continue to come under pressure while traders seek to destock ahead of the end of the year.- Spot inquiries are scant,...Read More