To repeat: AAPL is the only stock we need follow closely to know whether a major top looms for the bull market. The logic is simple: Because Apple is the most valuable company in the world, its shares top institutional investors' must-own list. Furthermore, as long as those who make their living throwing Other People's Money at a dozen or so stocks continue to throw the lion's share of it at AAP...Read More

MRK and PFE are propping up the Dow todayThe Dow Jones Industrial Average (DJI) is slowly climbing at midday, as Wall Street weighs the latest batch of corporate reports and economic data. The blue-chip index is shaking off an October dip in consumer confidence, and is instead being propped up by encouraging earnings reports from pharmaceutical giants Pfizer (PFE) and Merck (MRK). The S&P 500 I...Read More

Short-term traders were very put-heavyXerox Holdings Corp (NYSE:XRX) is gaining 15% this morning to trade at $35.41, thanks to the company's third-quarter earnings beat and upwardly revised full-year profit outlook. This price action has XRX stock jumping above the 200-day moving average and testing the site of the July earnings bear gap. Xerox had moved lower following the last two earnings relea...Read More

The faux meat maker's lock-up period expiredIt was Beyond Meat Inc's (NASDAQ:BYND) third time stepping into the earnings confessional as a public company, and the stock is experiencing a steep sell-off in the wake of the results. While the plant-based burger name posted a third-quarter profit of 6 cents per share on $91.96 million in revenue -- both of which exceeded analysts' estimates -- and l...Read More

Analysts have been quick to chime in after GRUB earningsGrubHub Inc (NYSE:GRUB) reported third-quarter adjusted earnings of 27 cents per share -- in line with the consensus estimate -- on $322 million in revenue, well below the $330.5 million analysts were expecting. The company also gave lower-than-anticipated current-quarter guidance amid rising competition in the food delivery space. In a lette...Read More

U.S. stock futures are trading just below fair valueWith earnings dominating the headlines again, Dow Jones Industrial Average (DJI) futures are trading below fair value this morning. Futures on the S&P 500 Index (SPX) are also pointing to a lower open for stocks, as the broad-market index looks set to cool after yesterday's record high. Alphabet's (GOOGL) poorly received earnings update is one re...Read More

SBUX's recent pullback has found supportAt least one analyst is expecting big things from Starbucks Corporation (NASDAQ:SBUX) in the earnings confessional this week. The coffee chain is set to report third-quarter results after the close tomorrow, Oct. 30, and KeyBanc envisions strong same-store sales growth of 5%, above the consensus view of 4.5% growth. The analyst also does not think the U.S.-C...Read More

Traders are dumping capital into the 2x VIX futures tracker as fast as TVIX can burn it upEveryone loves a good underdog story, and Wall Street investors are of course no exception -- but in the case of the VelocityShares Daily 2x VIX Short-Term ETN (NASDAQ:TVIX), some traders are simply taking this trope too far.The exchange-traded note (ETN) is one of those leveraged volatility products that you...Read More

Clint Siegner Americans hated it when the Federal Reserve handed trillions of dollars to crooked Wall Street banks following the 2008 Financial Crisis. Politicians were confronted about the merits of central banking and bailouts.For the first time in history, college students were chanting "End the Fed" at campaign rallies as Ron Paul took the central bank to task during his presidential campaig...Read More

By: Robert LambourneThe Bank for International Settlements has just published its statement of account for September and it indicates that the bank continues to trade gold swaps. The BIS uses gold swaps and other gold derivatives to gain access to gold held by commercial banks. But recent swaps remain at much-reduced levels compared to the second half of 2018.There is not enough information in t...Read More

Stewart Thomson 1. The GOAU ETF continues to showcase the most impressive technical action in the entire precious metals ETF sector.2. Please click here now. Double-click to enlarge. A bull wedge breakout with a pickup in volume is in play.3. Gold has been reacting negatively ahead of recent FOMC meetings, and that's the case this week.4. The pullb...Read More

By: Ira Epstein Gold is not trending, gold in a stall area. Momentum has flattened out, Gold hit the upper Bollinger band hit and failed, as expected:Read More

To repeat: AAPL is the only stock we need follow closely to know whether a major top looms for the bull market. The logic is simple: Because Apple is the most valuable company in the world, its shares top institutional investors' must-own list. Furthermore, as long as those who make their living throwing Other People's Money at a dozen or so stocks continue to throw the lion's share of it at AAP...Read More

A new Singapore Steel Forum will kick off for the first time next year as part of Singapore Iron Ore Week (SIOW) 2020.Fastmarkets will drive the forum together with the Singapore Exchange (SGX) and Enterprise Singapore as part of an expanded SIOW, which will be held on May 18-21 2020 at Sands Expo & Convention Centre. The Singapore Steel Forum will be held on May 20 and will include global steelma...Read More

Steel prices are expected to remain stable in the Brazilian domestic market through the remainder of 2019 despite a still favorable import parity, the commercial director for Companhia Sider??rgica Nacional (CSN), Luis Martinez, said on Thursday October 24.While hot-rolled (HRC) and cold-rolled coils (CRC) are currently being sold at a 2% premium over internalized imports, galvanized materials are...Read More

Brazilian iron ore pellet producer Samarco has received a license from a state environmental agency, allowing it to resume operations in its Germano complex, in southeastern Minas Gerais state, on Friday October 25.With the license, issued by the Minas Gerais' state environmental council, Copam, Samarco has secured all environmental permits needed to resume operations, its 50% shareholder Val...Read More

Prices for ferrous scrap in the Mexican markets have shown minor changes in the past week because most steelmakers have concluded their planned price cuts, which has left scrap dealers believing that the market has reached a bottom.In the region around the northern city of Monterrey, most scrap buyers have not made changes to their prices. But one steelmaker outside Monterrey has applied a reducti...Read More

The three-month nickel price on the London Metal Exchange closed higher on Tuesday October 29, with news of the expedited ore ban in Indonesia keeping the metal's price elevated, while lead futures also ended the day higher despite low turnover. Nickel's outright price closed at $16,830 per tonne this afternoon, up from an intraday low of $16,565 per tonne but lower than its daily high of $17,000...Read More

The London Metal Exchange announced this week that industry members will form a committee to represent the views and interests of lithium stakeholders while the exchange plans the launch of a lithium futures contract.The committee is made up of representatives of major lithium producers and consumers: Jaguar Land Rover, Albemarle Corp, Lithium Corp, Pilbara Minerals, Transamine Trading, BASF, Tian...Read More

Falling spot premiums, slow demand and ample supply have cast a bearish pall over the Asian aluminium market this year and market participants told Fastmarkets they believe this will be the case for 2020 too.The primary consumers of aluminium in Asia are Japan and Korea, with the former having annual demand of up to 1.8 million tonnes, and Korea up to 1 million tonnes.But the aluminium market in J...Read More