Puts have risen in popularity today in responseThe shares of Workday Inc (NASDAQ:WDAY) are down 5.2% to trade at $164.48 today, despite the software company reporting adjusted third-quarter earnings per share of 53 cents and $938.1 million in revenue, both of which topped analyst forecasts. Instead, Workday's weaker-than-expected 2020 fiscal outlook and subpar 2021 subscription revenue forecast i...Read More
Bulls were targeting the $4 levelGoPro Inc (NASDAQ:GPRO) just gave an update for Black Friday and Cyber Monday, saying its Hero8 Black "sold at record levels." GPRO shares have popped 6.4% out of the gate to trade at $4.11, but while they've taken back the $4 level, they're already back below the 50-day moving average. Still, the move may be enough for recent options traders.Jumping in, data from...Read More
UNH has been bounding higher on the chartsMere days off reporting its 2020 full-year forecast, UnitedHealth Group Inc (NYSE:UNH) is shifting higher this morning, after a fresh round of bull notes from brokerage firms. No fewer than three analysts have hiked their price target on the Dow name, including BMO Securities to $310, Credit Suisse to $320, and Piper Jaffray to $325. Coming into today, UN...Read More
A C-suite shakeup has GOOGL in focus todayAfter the market spent the last three days swimming in red ink, Dow futures are poised for a triple-digit bounce-back today. A Bloomberg report cited sources that claimed the U.S. and China were making progress toward a "phase one" deal, assuaging concerns that tensions between the two sides had intensified. Elsewhere, investors are unpacking the latest A...Read More
Technically, stocks aren't as expensive as they were during the tech bubble, when compared to other commodities Here's a blast from the past. Remember when gold had 12 straight years of positive returns from 2001 through 2012? Not only that, it outperformed the Dow in ten of those years. When the Dow began making new highs in 2013, it was still down 75% when priced in ounces of gold. Some people m...Read More
By: Ira EpsteinGold had a big rally and getting up to key resistance spots. Lots of Tariff news:Read More
Relations between USA-China is moving from bad to worse. USA is interfering with Chinese sovereignty be it Hongkong or the South China Sea or Chinese dealing with Muslim minority. Gold and silver will remain firm as a result of this. Correction will be there if various US jobs numbers (release begins from today with November private ADP) beat street expectations. U.S. President Donald Trump warn...Read More
Brazilian iron ore exports totaled 27.25 million tonnes in November 2019, a 19.8% year-on-year decrease from 33.97 million tonnes, data from the country's ministry of economy showed on Monday December 2.Shipment volumes also fell by 18.3% in comparison with 33.35 million tonnes during October 2019, according to the ministry.Figures from October were revised upward after the foreign trade secretari...Read More
Demand for flat steel products in Turkey was strong in November because of purchases for re-stocking, market participants told Fastmarkets on Wednesday, December 4.Local producers have now filled their order books until late February, sources added, and have started to accept orders for early-March production.Local demand was weak in Turkey in October because of decreasing prices, but improved in...Read More
Turkish exports of flat steel products fell by 1.63% year on year to 477,680 tonnes in October 2019, according to the Turkish Statistical Institute (TUIK).This compares with a volume of 485,614 tonnes in October 2018, the institute said.Cold-rolled flat steel exports fell considerably and coated flat steel shipments also dropped, while hot-rolled flat steel exports increased.Orders for C...Read More
As 2019 draws to a close, Fastmarkets examines the underlying factors driving the spread between US hot-rolled coil and steel reinforcing bar prices throughout the year.Fastmarkets' price assessment for steel reinforcing bar (rebar), fob mill US averaged $33.12 per hundredweight at the midpoint in January-November, while the steel hot-rolled coil index, fob mill US averaged $29.77 per cwt, creatin...Read More
Dave Kranzler, Mining Stock Journal"The Fed first tried to justify the loans by saying they were a short-term measure to stem a liquidity crisis. But the so-called "liquidity crisis" has not prevented the stock market from setting new highs since the loan operations began on September 17. And the short-term operation has been running every business day since that time and is currently scheduled...Read More
By: Ira EpsteinGold had a big rally and getting up to key resistance spots. Lots of Tariff news:Read More
Relations between USA-China is moving from bad to worse. USA is interfering with Chinese sovereignty be it Hongkong or the South China Sea or Chinese dealing with Muslim minority. Gold and silver will remain firm as a result of this. Correction will be there if various US jobs numbers (release begins from today with November private ADP) beat street expectations. U.S. President Donald Trump warn...Read More
Spot demand for tin diminished further in the week to Tuesday December 3, with the focus now on annual contracts and backwardation returning to the London Metal Exchange price for the metal.The 99.9% European tin premium holds at its recent lower levelThanksgiving holiday cuts into trade in the United StatesAsian premiums not buoyed by earlier production cuts.European premiums flat on ubdued deman...Read More
Brazilian iron ore exports totaled 27.25 million tonnes in November 2019, a 19.8% year-on-year decrease from 33.97 million tonnes, data from the country's ministry of economy showed on Monday December 2.Shipment volumes also fell by 18.3% in comparison with 33.35 million tonnes during October 2019, according to the ministry.Figures from October were revised upward after the foreign trade secretari...Read More
The three-month zinc price on the London Metal Exchange was higher at the close of trading on Wednesday December 4, with upward movement in the price of the galvanizing metal supported by strong turnover, while nickel futures took a divergent path over the afternoon in a 1.6% sell-off.Zinc's underlying price on the LME closed at $2,245 per tonne in the afternoon, gaining just under 2% from Tuesday...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday December 4 that are worth another look.French special steelmaker Ascoval, part of the British Steel group, is to supply 140,000 tonnes per year of semi-finished products, rectangular blooms, to rail manufacturing specialist BSFR (British Steel France Rail) to be processed into rails for the SNCF R?(C)seau national train networ...Read More
James Hyerczyk10 hours ago (Dec 04, 2019 2:59 PM GMT)Gold futures are trading lower on Wednesday shortly after the regular session opening. The price action indicates traders are putting more emphasis on a potential trade deal between the United States and China than a report showing weaker-than-expected private sector jobs data.Rising Treasury yields and increasing demand for risky assets are als...Read More
Lukman Otunuga16 hours ago (Dec 04, 2019 9:03 AM GMT)Given how the delay will most likely result in prolonged uncertainty and tensions between the worlds two largest economies, Gold is positioned to shine through the market chaos. Appetite towards the precious metal should also receive a boost from global growth concerns, Brexit drama and renewed speculation around lower interest rates. Bulls will...Read More