Some steel billet producers in the Commonwealth of Independent States (CIS) withdrew from the market early this week following a sharp rise in import scrap prices in Turkey.Turkish deep-sea scrap import prices have gone up strongly amid reduced availability of the material, caused by the measures being taken to try to control the Covid-19 pandemic.European Metal Recycling (EMR) shut down part of i...Read More

Marex Spectron has created the new role of head of steel and ferrous derivatives and has hired Sam Mehew to fill the post, the company announced on Tuesday April 7.Mehew will be responsible for driving liquidity in all ferrous markets and aluminium premium products.Marex Spectron is a category I member of the London Metal Exchange, and trades across the various base, precious and ferrous...Read More

The Dow finished the day modestly in the redThe Dow inched its way into the red within the last half-hour of trading,paring earlier gains triggered by an upbeat coronavirus outlook and a surge in cruise stocks. "We are seeing progress, but the virus is not under control yet," said Adam Phillips, director of portfolio strategy at EP Wealth Advisors. Also in focus is the potential of a Phase 4 relie...Read More

EU antitrust regulators appear to be building their case against Facebook Social media giant Facebook Inc. (NASDAQ:FB) is up 2.1% at $169.14 at last check, despite a report from Reuters that the European Union (EU) antitrust regulators sent out follow-up questionnaire to companies focusing on Facebook's Marketplace. The document touched on ways the platform's online marketplace is unfairly benefit...Read More

T announced at $5.5 billion term-loan agreement todayAT&T Inc. (NYSE:T) announced this morning a $5.5 billion term-loan agreement to give themselves "financial flexibility" during the global pandemic, and reaffirmed its commitment to pay a dividend. In response, the shares of the mobile are up 4% at $30.62 in afternoon trading. It's been a slippery slope downward for AT&T during the past few m...Read More

The S&P 500 and Nasdaq hit four-week highs earlierThe Dow Jones Industrial Average (DJI) is building off of yesterday's rally, now up over 600 points at midday and heading toward back-to-back wins. The Nasdaq Composite (IXIC) and S&P 500 Index (SPX) are following suit, with all three benchmarks hitting four-week intraday highs amida possible global slowdown of the coronavirus outbreak. Howe...Read More

Microsoft devices have seen an uptick in use amid "stay at home" ordersBlue chip and household technology name Microsoft Corporation (NASDAQ:MSFT) has succumbed to nearly every hill of the stock market roller-coaster that has become 2020. In late February, the company warned investors that it expected its Windows units to miss their third-quarter guidance due to the coronavirus outbreak. The resul...Read More

Raymond James downgraded Shopify to "market perform" from "outperform" Shopify Inc (NYSE: SHOP) is down 2.5% to trade at $380.36 this morning, succumbing to a downgrade from Raymond James to "market perform" from "outperform." This comes just one day after D.A. Davidson cut its price target to $500 from $675. The latter did maintain its "buy" rating, calling SHOP "one of the most attractive long-t...Read More

AZO puts have been popularAutoZone, Inc (NYSE: AZO) announced a series of precautions it will take in response to COVID-19. One of those precautions included adding additional time off for eligible employees, with 80 hours for full-time employees and 40 hours for part-time. Additionally, AutoZone has also reduced most stores' hours, increased cleaning and disinfecting, and now offers curbside pic...Read More

For years, many Gold Bugs (investors who’ve been advocatingbuying Gold and Silver at low prices as a hedge against future global economicrisks) were shunned as conspiracy theorists and nuts. How could these peoplebelieve Gold and Silver were solid investments when the Global equities marketswere rallying 5% a year consistently – what could go wrong?Over the past two weeks, I have perso...Read More

There are rumors a Phase 4 stimulus package is on the way next month Dow Jones Industrial Average (DJI) futures look ready to build off yesterday's resounding rally, up more than 700 points above fair value this morning.Futures on the Nasdaq-100 Index (NDX) and S&P 500 Index (SPX) are also soaring, as more signs point to a possible global slowdown of the coronavirus pandemic. New COVID-19 case...Read More

The second tranche of the European Union's steel product import quotas has reached the point where some have become exhausted. Fastmarkets looks at the progress of quota take-up country by country, and reviews the likely dates for exhaustion that were calculated at the end of 2019.BackgroundOn February 2, 2019, the European Commission (EC) imposed definitive safeguard measures on a list of importe...Read More

By: Gary SavageHuman beings have herd mentalities and that is why we have had these bubbles. When sentiment shifts and politicians react without thought of consequences, it gets the ball rolling and..https://blog.smartmoneytrackerpremium.com/Read More

By: Ira EpsteinThinner markets coming up with Easter Holidays, beware. I think there is new buying in metals as governments around the world, with their helicopter money and more, it debases currencies and drives gold bulls:Read More

The coronavirus wasn't the cause of oil's 70% collapse. This was Let's start by establishing that the stock market is not driven by the news. Aggregate stock prices are driven by waves of optimism and pessimism -- which go from one extreme to another -- as reflected by the Elliott wave model. That's what makes the stock market predictable.Hence, Elliott wave analysis is at the core of EWI's stock...Read More

A surge in coronavirus cases, an expansion ofeconomic lockdowns, and an explosion in unemployment claims hit markets thisweek.  But this deluge of bad news didn’tseem to catch investors by surprise. Instead of crashing to new lows, the stock marketheld within a trading range and rallied yesterday following the release of ahorrific jobs report.  It’s been a huge week for commo...Read More

Delivery and sales of electric vehicles (EVs) from leading EV manufacturer Tesla showed no sign of weakness despite the economic setbacks triggered by the global spread of Covid-19, according to preliminary data released by the company on Friday April 3.Tesla produced about 103,000 and delivered 88,400 EVs in the first three months of 2020. The figures show a year-on-year increase in production of...Read More

The second tranche of the European Union's steel product import quotas has reached the point where some have become exhausted. Fastmarkets looks at the progress of quota take-up country by country, and reviews the likely dates for exhaustion that were calculated at the end of 2019.BackgroundOn February 2, 2019, the European Commission (EC) imposed definitive safeguard measures on a list of importe...Read More

By Michael BallangerAs a child, I used to get quite excited at the prospect of having my English "Gran" read me the Hans Christian Andersen book "The Emperor's New Clothes." I found the tale fiendishly amusing, as the charlatan tailor uses lethal doses of flattery and mystery to beguile the poor sovereign into really believing that he is wearing the finest robes ever woven. There is even greater...Read More

1. Gold bullion, the world's "queen of assets", has a majestic upside breakout from a large inverse H&S bull continuation pattern.2. To view the important price action, please click here now. Is this an "all clear" signal for gold stocks and silver too?3. Well, physical metal dealers in Singapore report that silver bullion demand is currently bigger than demand for gold!4. Plea...Read More