RambusI promised you on Friday that I would take an in-depth look at the energy complex in the Weekend Report. If there is one sector to define the possible deflationary event we've been discussing for the last several months or so oil is probably the most important commodity of all. Eventually we'll know the cause in no uncertain terms, but the charts have been suggesting for a long time now th...Read More

Key data from the pricing sessions in Asia, Europe and the United States for the week ending Friday March 6. China  The UG2 chrome ore price hit its lowest level since April 2016 in its third consecutive week of decline.  Spot Chinese ferro-chrome prices steady due to the market awaiting March tender prices from...Read More

Sector expert Michael Ballanger examines last week's markets with an eye toward hockey leagues and central banks. Wikimedia CommonsThere are times in my life where I am forced to fight the urge to do harm to people, something that I have never enjoyed, even when I was playing hockey in the violent Southern Hockey League in 1977. I have taken spears to the groin, butt-ends to the face, hooks to th...Read More

Bob Moriarty of 321gold explains why he believes gold needs a correction. In military aviation pilots are taught about an important concept called being on the Back Side of the Power Curve. For every aircraft and altitude there is a speed and power curve. Until the aircraft gets too slow things work just fine. A lot like the Fed. But when the aircraft flies too slow and drag gets too high, the ad...Read More

Car production in Brazil is at risk of suffering stoppages by April, if supply constraints affecting Chinese auto parts providers do not improve amid the outbreak of the novel coronavirus (2019-nCoV), according to Brazilian national car association Anfavea.The association highlighted that car manufacturers currently have enough parts to maintain output during March."A [sig...Read More

Chinese steel company Hebei Jingye Group has completed its acquisition of British Steel, the company said on Monday March 9, but the deal does not include the French operations at Hayange.The deal, which is believed to have cost ?50 million ($55.51 million), brings to an end a nine-month search for a new owner of the UK's second-largest steelmaker.Assets included in the deal include British Steel...Read More

It was oil's worst single-session drop since 1991The Dow cratered today by more than 2,000 points, as Wall Street continues to slog through one of the worst stock market crashes in history. The blue-chip index just turned in its worst day since October 2008 as plummeting oil prices and coronavirus concerns form a perfect storm of investor panic. The S&P 500 and Nasdaq also were walloped and turned...Read More

Grubhub was raised to "perform" from "underperform"Food delivery service GrubHub Inc (NYSE:GRUB) is down 7.1% to trade at $48.21 today. As food delivery stocks are appealing amidst a global pandemic, GRUB was upgraded to "perform" from "underperform" by Oppenheimer today. However, while it might have lessened the blow, it doesn't seem to be enough to push the equity out of the surrounding broad-ma...Read More

Market sources have been puzzled by the gradual upward trend in China's steel prices after the novel coronavirus (2019-nCoV) broke out in a big way after the Lunar New Year holiday. Spot prices gained further momentum in the first few days of March, even though the number of infections in China has continued rising, and steel inventories have surged.Fastmarkets' price assessment for stee...Read More

The Australian privacy regulator just accused Facebook of sharing the personal detailsover 300,000 users without their knowledge Twitter isn't the only social media name in focus today, with investors turning their attention toward Facebook, Inc. (NASDAQ:FB) following reports that the Australian privacy regulator just sued the tech giant over allegations that it shared personal details of over 300...Read More

Costco is taking extra precautions with its free samples to protect customers from the coronavirus outbreak. The coronavirus outbreak is confirmed to have spread to at least 25 states, and as a result customers of Costco Wholesale Corporation (NYSE:COST) will have to say good-bye to free samples for the time being. Costco, last seen trading down 2.4% at $303.78, made the decision after competitor...Read More

Northern China's steel hub of Tangshan will cut 1.6 million tonnes of hot metal production at 20 steel mills in March to improve air quality, market sources in the country told Fastmarkets on Monday March 9.This round of production cuts will affect around 56 blast furnaces in the city, according to Fastmarkets' estimation, which will ease the pressure of high inventories at steel mills and in the...Read More

XOM, CVX, and COG options volume is ramped up todayIf the coronavirus outbreak was the match, then OPEC-fueled price war is the kerosene soaked rag that sparked today's stock market crash. As oil prices plummet and send the world economies into disarray, energy stocks Exxon Mobil Corporation (NYSE:XOM), Chevron Corporation (NYSE:CVX), and Cabot Oil & Gas Corporation (NYSE:COG) are in focus. Opti...Read More

Oil is continuing its deep dive this afternoonAfter trading was halted for 15 minutes this morning to prevent a further plunge, the Dow Jones Industrial Average (DJI), the S&P 500 Index (SPX), and Nasdaq Composite (IXIC) are all down between 6% and 7% at midday, with the Dow falling over 2,000 points at its worst. Saudi Arabia cutting official crude selling prices for April and its subsequent pri...Read More

I promised you on Friday that I would take an in-depth look at the energy complex in the Weekend Report. If there is one sector to define the possible deflationary event we’ve been discussing for the last several months or so oil is probably the most important commodity of all. Eventually we’ll know the cause in no uncertain terms, but the charts have been suggesting for a long time no...Read More

U.S. health officials are warning Americans to avoid cruise ships as the coronavirus outbreak worsens It's no secret the cruise line sector has taken a hit in recent weeks, with a slew of reports trickling in regarding coronavirus-related quarantines and cancellations. Two stocks hit particularly hard are Carnival Corp (NYSE:CCL) and Royal Caribbean Cruises Ltd (NYSE:RCL), and this weekend's warni...Read More

Amazon was hit again by a COVID-19 fear waveAmazon Inc. (NASDAQ:AMZN) is down 7.1% to trade at $1,767.03, despite a positive premarket outlook this morning. The premarket rise came after news that AMZN will announce a new business line selling the technology behind its automated checkout to other retailers. Amazon's cashier-less venture, Amazon Go, is estimated by Loup Ventures to grow to $50 bill...Read More

Here are five Fastmarkets stories you might have missed on Monday March 9 that are worth another look.Market sources have been puzzled by the gradual upward trend in China's steel prices after the novel coronavirus (2019-nCoV) broke out in a big way after the Lunar New Year holiday.Soci?(C)t?(C) le Nickel (SLN) resumed operations and ore shipments at its Thio mine in New Caledonia on March 9, a sp...Read More

Twitter stocks dipped after it flagged one of Trump's retweetsShares of Twitter Inc (NYSE:TWTR) are down 6.2%, last seen at $31.40. Twitter made headlines last week on rumors CEO, Jack Dorsey was being pressured to leave due to his divided attention between Twitter and Square (SQ). Now, the social media giant is back in the news after applying its new "manipulated media" label for the first time...Read More

Steve St. Angelo, SRSrocco Report (MARCH 8, 2020 Late PM US EST)It begins... the world is finally waking up to the massive economic and financial threat of this global contagion. As reported by Zerohedge, the Middle East markets opened today to a bloodbath as many of the region's stock indexes fell more than 5%, with Kuwait suspending trading after it's market fell 10%. According to the ar...Read More