Some of the prices for steel rebar and billet in the United Arab Emirates decreased over the past week, with demand very weak amid concerns about the spread of the coronavirus (2019-nCoV), market sources said on Tuesday March 24.Additionally, local rebar producers announced new domestic prices last week.Emirates Steel is now offering rebar at 1,853 ($504) dirhams, down from 1,897 dirhams per tonne...Read More

China's domestic rebar prices were mixed on Tuesday March 24, with those in the eastern region dipping while the northern market held steady amid fluctuating futures. Eastern China (Shanghai): 3,450-3,480 yuan ($486-490) per tonne, down 10 yuan per tonne Northern China (Beijing): 3,360-3,400 yuan per tonne, unchangedRebar futures dropped to a low of 3,373 yuan per tonne in the first 10 minutes of...Read More

EMX Royalty reported that it has acquired net smelter returns royalty interests covering 18 properties in Chile from Revelo Resources. In a news release, precious and base metals royalty company EMX Royalty Corp. (EMX:TSX.V; EMX:NYSE.American) announced that "it has entered into an agreement to purchase net smelter returns (NSR) royalty interests covering 18 properties in Chile from Revelo Resour...Read More

Turkey has requested the intervention of the World Trade Organization's Dispute Settlement Body in connection with steel safeguard measures introduced by the European Union.On Thursday, March 19, the WTO, said that a Turkish delegation had notified the organization that Turkey was deeply concerned by the safeguard measures imposed by the EU on imports of certain steel products...Read More

Gold logged its best day in over 10 years as wellThe Dow experienced a much-needed surge today, logging its best percentage gain since 1933. The blue-chip index surged toward the finish line today, as all signs point to a historic stimulus bill near agreement that would help buoy a floundering U.S. economy. The S&P 500 and Nasdaq both joined the Dow with big gains of more than 8%, as stocks rebou...Read More

YUMC just ran up to a historically bullish trendlineYum China Holdings Inc (NYSE:YUMC) is making news today after the China-based fast food firm this morning said it was seeing early stages of recovery following the peak of the coronavirus outbreak in the region. The KFC parent announced that 95% of its stores are either fully or partially open, and added that while same-store sales are still in d...Read More

There's a lot of optimism surrounding BZUN to be unwound Just yesterday, Jefferies trimmed its price target on Chinese e-commerce company Baozun Inc (NASDAQ:BZUN) to $36.60 from $39. And although BZUN is up 2.6% to trade at $25.93 today, the stock's technical picture is currently worth digging in to.In the last week, Baozun stock has seen new resistance emerge at its -20% year-to-date level after...Read More

Major indexes are in the black as congress promises a quick decisionExpanding off its early morning surge, the Dow Jones Industrial Average (DJI) is up around 1,500 points midday, driven heavily by outperforming Boeing (BA), American Express (AXP), and Chevron (CVX). The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also making sizable gains, after yesterday falling to multiyear lows along...Read More

Bernstein upgraded SPOT to "market perform" but slashed its price target Shares of music streaming specialist Spotify Technology SA (NYSE:SPOT) are up 8.4% at $128.50 mid-morning, as traders react to a note out of Bernstein. The analyst upgraded SPOT to "market perform" from "underperform," and cut its price target to $124 from $134. Bernstein noted that while Spotify's stock value has seen a siza...Read More

Twitter just withdrew its first-quarter guidance Twitter Inc (NYSE:TWTR) is in the spotlight this morning after deciding to withdraw its first-quarter revenue and operating forecast amid the growing economic effects of the coronavirus pandemic. The social media giant said the outbreak has negatively effected ad sales, though the number of active users on the platform has increased. The stock is tr...Read More

Amazon stock rose after it announced it would be cracking down on sellers attempting to price gouge during the pandemic.While the global economy continues to reel and people fear the availability of certain everyday items in the wake of the coronavirus pandemic, Amazon Inc (NASDAQ:AMZN) announced it has removed over 3,900 accounts it has flagged for price gouging. Additionally, Amazon has removed...Read More

The information and analysis services stock was oversold going into todayIHS Markit Ltd (NYSE:INFO) is up 15.1% to trade at $52.43 this morning following an earnings beat. The information services company reported adjusted first-quarter profits of 66 cents per share, higher than Wall Street's anticipated 64 cents per share. The reported revenue of 1.08 billion was right on par with IHS Markit's es...Read More

Schumer and Mnuchin are optimistic that an stimulus bill agreement will soon be reached Dow Jones Industrial Average (DJI) futures are swinging higher in early market trading, up over 900 points before the bell. Futures on the Nasdaq-100 Index (NDX) and S&P 500 Index (SPX) are seeing sizable swings of their own, with all three indexes hitting their "limit up" earlier. This morning's market sur...Read More

“For twelve consecutive years, gold was up every single year whether there were inflation fears, deflation fears; strong dollar, weak dollar; political stability, political instability. It didn’t matter – strong oil, weak oil. . . Gold went up for twelve years. . . When gold embarks upon its next move, I believe that you will see that long wave take gold relatively quickly, but i...Read More

Stewart Thomson, Graceland Updates 1. I said yesterday morning that amidst all the Corona War mayhem, a move over $1550 for gold would be incredibly positive.2. Please click here now. Double-click to enlarge this spectacular gold chart. $1550 is now support!3. Please click here now. In what is arguably the most horrific act in the history of the United States, and ce...Read More

By Gary SavageMar 23, 2020https://blog.smartmoneytrackerpremium.com/Read More

Economic data shows that the coronavirus crisis will be severe. To soften the blow, Trump announced his support plans for the economy. Will the stimulus package help? And when will gold finally rise?COVID-19 Hits the US EconomyThe global epidemic of COVID-19 has already hit the US economy. We start to see evidence how bad this crisis might be. First, retail sales dropped 0.5 percent in February. T...Read More

Automakers Toyota and Ford Motor Co are suspending their production lines in Japan, India, Vietnam and Thailand due to the novel coronavirus (2019-nCoV) pandemic.Toyota will stop seven production lines at its five domestic facilities in Japan from April 3 for 3-9 days due to a decline in overseas demand.Location: Takaoka Plant Line: No1  Date: April 3-7 (three days)Location:&nb...Read More

India is entering a 21-day lockdown period to help prevent the spread of the novel coronavirus (2019-nCoV) pandemic, but the production of essential commodities will continue.In an address to the nation, Indian prime minister Narendra Modi said that the lockdown was effective from midnight local time, 18:30 London time."For the past two days, many parts of the country have been locked down. From m...Read More

Brazilian steelmaker Gerdau has temporarily halted operations in Argentina and Peru following lockdowns in both countries to combat the spread of the novel coronavirus (2019-nCoV) pandemic.Gerdau's activities in Brazil have been affected, but have not been suspended so far, the company said on Tuesday March 24.Capital expenditure initiatives around the globe have been put on hold to reduce on...Read More