You'd have to be insane to keep 100% of your savings trapped in this kind of financial system where you be so easily separated from your funds.Continue...Read More
The price of steel rebar in the Southern European domestic market has been stable this week but participants were closely watching the ferrous scrap markets to see how prices there would develop, Fastmarkets heard on Wednesday October 23.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Southern Europe, was ?,?445-465 ($496-518) per tonne on Wednesday, unc...Read More
With all three zones open downplunge, the Canadian company intends to continue drilling. Osisko Mining Corp. (OSK:TSX) announced in a news release it hit high-grade gold mineralization on drilling in three zones of the Lynx deposit at its Windfall project in Quebec: the Lynx, the Lynx Extension and the Triple Lynx.This occurred during its ongoing definition and expansion drill campaign targeting...Read More
John-Mark Staude, president and CEO of Riverside Resources, speaks with Maurice Jackson of Proven and Probable about his company's strategic funding agreement with BHP to explore the Laramide copper belt of Sonora. Maurice Jackson: Joining us for a conversation is Dr. John-Mark Staude, president and CEO of Riverside Resources Inc. (RRI:TSX.V; RVSDF:OTCQB). Riverside has entered into a strategic f...Read More
The Turkish steel mills have extended their silence in the deep-sea scrap markets and are now focused on the markets for billet and finished long steel, sources said on Wednesday October 23.The mills in Turkey have been very active in scrap purchasing so far this month, booking at least 16 cargoes. They went quiet in the deep-sea markets at the end of last week after booking almost 500,000 tonnes...Read More
Exports of hot-briquetted iron from Venezuela have remained low in recent weeks because of a continuing shortage of iron ore pellets and pressure from sanctions imposed by the United States, sources told Fastmarkets on Wednesday October 23.Around 125,000 tonnes of HBI was available from stocks in Venezuela in early October, according to an official source."Venezuela is producing HBI but we will se...Read More
Seaborne iron ore prices edged up on Wednesday October 23 in line with the trend seen in the futures market.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $87.18 per tonne, up $0.50 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $87 per tonne, up $0.67 per tonne.62% Fe low-alumina fines, cfr Qingdao: $85.66 per tonne, up $0.39 per tonne.58% Fe fines high-premium, cfr Qin...Read More
(Updates with closing prices, recasts)By Peter HobsonLONDON, Oct 23 (Reuters) - Copper prices rose on Wednesdayas a wave of protests in top producer Chile began to disruptsupplies, but gains were limited by lingering fears over thehealth of the global economy and the outlook for demand.Benchmark copper on the London Metal Exchange endedup 1.1% at $5,881 a tonne after reaching $5,885, the highestsi...Read More
Both Caterpillar and Boeing presented profits that missed the mark The Dow spent time on both sides of breakeven amid a busy day for blue chips. On the earnings front, Caterpillar (CAT) entered the confessional with revenue and profits that missed the mark, but CAT stock battled back from a rough start to climb into positive territory by the close. Boeing (BA) was also on the earnings docket today...Read More
Beyond Meat relinquished the $100 level earlier todayThe summer feels so long ago for Beyond Meat Inc (NASDAQ:BYND). The faux-meat concern is down 7.5% to trade at $99.26 today, breaching the $100 level for the first time since June 4. Also weighing on the shares is comments from CNBC's Jim Cramer last night on "Mad Money," saying he believes Beyond Meat "can go lower from here" with the company'...Read More
Short covering could be strengthening tailwinds for two of the stocksA positive earnings reaction for Boeing (BA) is keeping the Dow's head above water today. Several small-cap stocks are making notable moves today, too, including 3D printing name Nano Dimension (NASDAQ:NNDM), biotech patent specialist PDL BioPharma Inc (NASDAQ:PDLI), and shipping concern Teekay Corporation (NYSE:TK). Here's a qui...Read More
The stock is retreating ahead of earnings, as the firm's CEO is leaving for NikeAhead of earnings -- slated for release after the close tonight -- the shares of ServiceNow Inc (NYSE:NOW) are swimming in red ink today, after the company said CEO John Donahoe is stepping down to head up Nike (NKE). Donahoe will be replaced by former SAP (SAP) CEO Bill McDermott. While analysts and NOW shareholders a...Read More
CIS billet producers continued to increase their export offer prices, this week, amid reduced availability of the material in the market.Offers from Ukraine were limited because three mills- Dneprovskiy Dzerzhinsky Metallurgical Plant (DMKD), Dnipro Metallurgical Plant (DMP) and Elektrostal have idled parts of their facilities because of this year's unfavorable pricing environment.U...Read More
The Dow is weighing quarterly reports from Boeing and CaterpillarThe Dow Jones Industrial Average (DJI) is higher at midday, as Wall Street unpacks another day of corporate earnings. The blue-chip index is shaking off a sub-optimal earnings reaction from Caterpillar (CAT)thanks toBoeing (BA), which is higher on a revenue beat and another timely 737 MAX update. The S&P 500 Index (SPX) and Nasdaq...Read More
Credit Suisse lifted its price target on Alphabet to $1,700FAANG name Alphabet Inc (NASDAQ:GOOGL) is slightly higher today on a bull note from Credit Suisse. The analyst lifted its price target to $1,700 from $1,500, citing "the strong growth of search and YouTube" and applauded the company'sSmart Building product. Google is also generating buzz for claiming it's achieved a new milestone in quantu...Read More
The options market was expecting a huge move from SkechersSkechers USA Inc (NYSE:SKX) shares are trading down 1.8% this morning at $37.32 after earnings, but it's not the direction of the stock's move that is most notable. Instead, what's interesting is that this 1.8% swing is far below the expected move priced in by options traders ahead of the quarterly event. Speculators were betting on a nearl...Read More
Export billet and slab prices in Iran moved in different directions in the week ended Wednesday October 23 with trends in the global markets showing a similar divergence.The Iranian export billet price inched upward following price rises in Asia, the CIS and the Middle East. Large-volume billet sales to China and Southeast Asia in recent weeks supported the efforts of Iranian billet producers.A ca...Read More
REZI is overdue for more bearish analyst attention, tooThe shares of Resideo Technologies Inc (NYSE:REZI) are in the New York Stock Exchange's cellar this morning, down 40% to trade at $9.16, and earlier touching a record low of $8.61. The electric components company -- a residential technology spin-off of Honeywell (HON) -- cut its fiscal year revenue growth yesterday, while also announcing that...Read More
Caterpillar posted earnings and revenue below analyst estimatesThe shares of Caterpillar Inc. (NYSE:CAT) are trying to gain this morning despite a disappointing third-quarter earnings report. The company missed on earnings and revenue, and CAT slashed its full-year profit guidance, due in part to weak demand in Asia. What's more, the company told investors in the earnings call that customers are "...Read More
With the odds of a Brexit deal by the October 31 deadline declining, gold bulls may stand to benefit. The price of gold has been in a narrow range over the past session with support at $1479 drawing buyers while the shiny metal continues to struggle to rally above the psychological $1500 level.Gold prices have been held higher by a weaker dollar as of late while at the same time suppressed by posi...Read More