Fastmarkets will continue to provide the price data, news and analytics you rely on in these turbulent times.Dear Colleagues,First and foremost, we hope that you, your family, your friends and your colleagues are keeping well in these uncertain times. Covid-19 has disrupted our economy, our normal work patterns and, for many, our lives. Before I speak to the status of our business continuity...Read More

Gold logged its biggest percentage gain since May 2009Stocks began the week deep in the red, as political gridlock drags down Wall Street. Despite the Federal Reserve deploying aggressive new measures to aid markets against the COVID-19 outbreak, the Dow dropped over 800 points at its session lows as the Senate failed twice to negotiate the terms of a massive stimulus package. The S&P 500 and Nas...Read More

Nike is expected to reveal its fiscal third-quarter report after the close tomorrowWhen we last checked in with Nike Inc (NYSE:NKE), the blue chip retailer was just beginning to feel the pinch of coronavirus-induced headwinds. Seven weeks later, Nike stock is nursing a nasty 37.3% loss year-to-date. What's more, the swoosh logo steps into the earnings confessional for its fiscal third-quarter re...Read More

Netflix calls have been outnumbering puts as the streaming stock makes a swift recovery The20 stocks listed in the table below have attracted the highest weekly options volume during the past 10 trading days, with data courtesy of Schaeffer's Senior Quantitative Analyst Rocky White.One stock in particular getting plenty of attention from options players (and analysts) is Netflix Inc (NASDAQ:NFLX),...Read More

ZTO Express just pulled back to a historically bullish trendline after a price target cut from JefferiesChina-based shipping specialist ZTO Express (Cayman) Inc (NYSE:ZTO) is getting hit today after Jefferies cut its price target to $27.10 from $29.20. In response, ZTO is down 1.8% at $24.25. And while the shares continue to wallow beneath newfound pressure at their 20-day moving average, ZTO just...Read More

Major indexes in the red as congress decides on an agreementAfter making an attempted rebound following a "limit down" this morning, rising after the Federal Reserve announced new measures to help markets against the COVID-19, the Dow Jones Industrial Average (DJI) is down over 700 points as investors wait for Congress to agree on a stimulus bill, and earlier hit a fresh three-year low. The S&...Read More

Goldman Sachs upgraded Boeing to "buy" from "neutral"Perpetually struggling Boeing Co (NYSE:BA) is getting some respite this morning, up 4.3% at $99.12 after Goldman Sachs upgraded the aerospace specialist to "buy" from "neutral." The analyst said traders can get BA shares for a steal right now, seeing as the stock is down 80% from its 2019 highs, and predicts a strong resurgence in air travel onc...Read More

Cowen and Company lowered AT&T to "marketperform"AT&T Inc. (NYSE:T) is down 4.1% to trade at $28.45 at last check. The telecommunications name was downgraded at Cowen and Company to "market perform" from "outperform," and recieved a price-target cut to $37 from $43. The brokerage believes AT&T complex programs such as WarnerMedia will create uncertainty in comparison to rival Verizon (VZ).T has se...Read More

Fastmarkets will continue to provide the price data, news and analytics you rely on in these turbulent times.Dear Colleagues,First and foremost, we hope that you, your family, your friends and your colleagues are keeping well in these uncertain times. Covid-19 has disrupted our economy, our normal work patterns and, for many, our lives. Before I speak to the status of our business continuity...Read More

Apple canceled plans that would limit iPhone purchases to two per customerWhile its brick-and-mortar stores outside of China will remain closed, Apple Inc (NASDAQ:AAPL) announced it is no longer limiting customers to two devices on online iPhone purchases. This announcement comes just a few days after the tech giant instituted the limit. Also weighing on the shares is a price-target cut from Insti...Read More

The Fed's measures to get the U.S. economy back on track are giving stock futures a big boost After swimming deep in the red this morning and earlier hitting a "limit down," Dow Jones Industrial Average (DJI) futures are getting a big boost after the Federal Reserve said it would be implementing new measures to combat the COVID-19 shakeup ravaging the U.S. economy. This includes an open-ended a...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

The pros who confidently bought the dips for more than a decade are now quietly selling the rallies. During the bull market, accumulating stocks on weakness was a no-brainer, as easy a ticket to big profits as investors will ever enjoy. But the bear market has ended this rare opportunity. Instead, the Masters of the Universe have been unloading as much stock as they can into every rally. This ta...Read More

By Avi Gilburt, ElliottWaveTrader.netSo, how many of you followed reckless bulls into this mess?I know many of you took me to task for missing some of the rally in the SPX. But, as I had been trying to warn you, the IWM and the EEM, as well as a host of other charts, were warning me that something was just not right about the move in the SPX. Then, when I publicly posted that I was shortin...Read More

There are two things which we all need to focus w.r.t to corona virus:Positive: China could be corona "virus free" in the next two weeks to four weeks. This will be very bullish for crude oil demand and industrial metal demand.Negative: One needs to closely watch the corona virus spreads in India, Pakistan, Bangladesh and Indonesia. These are world's most densely populated zone with inadequate m...Read More

Peak Oil? That was an obvious and widespread promotion while it was in play and did not fool anyone who bothered to step aside from the herd that ran with it.Peak Terror in broad stock markets? Well, that I don’t discount so readily because this is a system that was a debt-bloated accident waiting for the trigger that turned out to be COVID-19. Terrified casino patrons will pray that the Fed...Read More

Automotive manufacturers in the UK have announced production suspensions after measures taken by European governments to restrict the spread of the 2019-nCoV coronavirus pandemic led to a series of closures among other carmakers, creating problems that affect the supply chain and manufacturing.Ford UKUnited States-based Ford will bring forward scheduled summer shutdowns at its UK operations in Dag...Read More

Metals, mining and alloy producers have been scenario-planning in response to the novel coronavirus. The South African government appears to have just removed all but one option.President Cyril Ramaphosa ordered the country's mineral resources industry to shut underground mines and furnaces from Thursday March 26, unless they can be operated remotely. The shutdown will last for three weeks an...Read More

The Italian government has ordered the closure of all non-essential production operations in the country, including steelmaking, as part of the measures to battle the 2019-nCoV coronavirus pandemic, prime minister Giuseppe Conte said on Saturday March 21.Flat steel producer ArcelorMittal Italia, however, will continue operations despite the new decree, the company told Fastmarkets on March 23.Ital...Read More

Eastern China's Shagang has increased the prices for its long steel products for bookings over the March 21-31 period, according to an announcement on Saturday March 21.HRB400 rebar (16-25mm): 3,700 yuan ($521) per tonne,...Read More