The domestic prices for hollow steel sections in both Northern and Southern Europe were unchanged this week ahead of the seasonal summer break, sources told Fastmarkets on Wednesday July 31.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?615-630 ($686-702) per tonne on Wednesday, flat week on week.Market participants reported very low levels o...Read More

The S&P and Nasdaq logged their third straight lossStocks started the session higher -- with the Dow up more than 83 points at its intraday peak -- on a blowout earnings report for Apple (AAPL) and upbeat jobs data. Markets held modest gains through midday, before turning sharply lower in the wake of this afternoon's Fed announcement. While the central bank issued a 25-basis-point rate cut and sai...Read More

The price for rebar produced and delivered in Southern Europe has remained stable over the past seven days on limited trading activity, although some mills were still attempting to increase their prices, sources said on Wednesday July 31.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Southern Europe, was unchanged week on week at ?,?470-485 ($524-541) p...Read More

This analyst predicts a major market moving event happening as soon as August 13.After nearly 27-years studying the stock market as a hedge fund manager, broker, and analyst, onesenior analyst thought he was prepared for everything Mr. Market threw his way.But last December he got word of a huge market event that's now less than 60 days away.He sent an urgent note to over 75,000 people who, over...Read More

Last week, Boris Johnson became the PM of the UK. The odds of hard Brexit increased, sending pound lower. Now, markets await tomorrow’s FOMC meeting. Gold closely monitors these events and thinks about which way to go next. Boris the BrexiteerLast week, Alexander Boris de Pfeffel Johnson – for the people of the Great Britain known as Boris Johnson with a funny mop of blonde hair &ndash...Read More

Meanwhile, another stock extends its 2019 lead to almost 900%Stocks mostly traded near breakeven today, though the Dow was last seen sharply lower after Fed Chair Jerome Powell suggested more rate cuts may not be coming. Three names to watch in the meantime are electric vehicle producer Workhorse Group Inc (NASDAQ:WKHS), drugmaker Omeros Corporation (NASDAQ:OMER), and online education specialist 2...Read More

A short squeeze could add fuel to the stock's fireThe shares of genetic testing concern InVitae Corp (NYSE:NVTA) are fresh off an all-time high of $28.38, last seen 1.6% higher at $27.60, thanks to a boost from Citron Research. The firm said it will "continue to stay long until the stock hits at least $65, as we believe it is on its way to $100" -- nearly four times yesterday's close of $27.21. Fu...Read More

Wayfair's second-quarter earnings are expected before the open tomorrow The shares of online home goods retailer Wayfair Inc (NYSE:W) have been coasting steadily lower since touching a record high of $173.71 in March, slamming into resistance at the $165 region and recently falling back beneath the $140 area, which acted as support for the stock's post-bull gap lows back in February. However, Wa...Read More

Spread activity is detected today in VKTX's options pitsThe shares of Viking Therapeutics Inc (NASDAQ:VKTX) are up 3.3% to trade at $7.93 today, as the biotech concern prepares for its second-quarter earnings report, set for after the close tomorrow, Aug. 1. Ahead of the event, VKTX's typically quiet options pits have come alive, with an emphasis on calls. More specifically, VKTX has seen almost...Read More

BHGE may have cleared long-term technical resistance todayOilfield services provider Baker Hughes (NYSE:BHGE) is one of the best stocks on Wall Street today thanks to the company's second-quarter earnings beat. The shares have gained 4.8% today to trade at $25.68, and this has them pushing above a moving average on the charts that has caused issues for the stock in the past. For instance, the equ...Read More

The research firm issued a "strong sell" opinion on the surgical instrument makerSurgical instrument maker Penumbra Inc (NYSE:PEN) is among the worst stocks on the New York Stock Exchange (NYSE) today, due to a scathing note from Spruce Point Capital Management. The research firm issued a "strong sell" opinion on PEN shares, and predicted 40% to 55% downside risk for the "one-trick pony" amid a "w...Read More

The Turkish steel mills have remained quiet in the deep-sea markets due to limited trading activity in te long steel and billet markets, sources said on Wednesday July 31.The mills in the country booked four deep-sea cargoes last week.Sources believed that the Turkish mills still needed scrap for August shipments but the weak rebar...Read More

All three benchmarks are heading toward monthly winsAs July comes to a close, the Dow Jones Industrial Average (DJI) has traded on both sides of the aisle, but was last seen cautiously higher due to a post-earnings surge from Apple (AAPL). Meanwhile, the S&P 500 Index (SPX) also sits just above breakeven at midday, while the Nasdaq Composite (IXIC) is firmly in the black thanks to a tech sect...Read More

Brazil's Companhia Sider??rgica Nacional (CSN) has increased its planned iron ore sales volumes for 2019 by 2 million tonnes or more than 5%, it said.CSN now expects to sell 40 million tonnes of iron ore during the year, the steel and iron ore producer said alongside its second-quarter earnings report on Tuesday July 30, up from its forecast of 38 million tonnes published in May,To...Read More

Humana reported a second-quarter earnings and revenue beat before the bell todayHeathcare concern Humana Inc (NYSE:HUM) hit a new five-month high of $301.86 earlier today, and is now trading up 4.3% at $296.67, pacing for its fourth straight win. This comes after the firm posted second-quarter earnings of $6.05 per share on $16.25 billion in revenue, both of which beat analysts estimates, and lift...Read More

Seaborne iron ore prices fell on Wednesday July 31, on an uncertain outlook for the markets.Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao: $117.15 per tonne, down by $2.46 per tonne.Fastmarkets' index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $115.65 per tonne, down by $3.88 per tonne.Fastmarkets' index for iron ore 62% Fe low alumina fines, cfr Qingdao: $118.34 per dmt, do...Read More

The GPS concern reported earnings and revenue that exceeded analysts' estimates The shares of GPS concern Garmin Ltd. (NASDAQ:GRMN) are skyrocketing today, after the firm unveiled second-quarter earnings and revenue that beat analysts' estimates. The company cited growing demand for its wearable and fitness devices, and lifted its 2019 revenue forecast on growing expectations for its aviation, mar...Read More

- Dave KranzlerRegardless of the Fed Funds rate policy decision by the FOMC today, the economy is spinning down the drain. Lower rates won't help stimulate much economic activity. Maybe it will arouse a little more financial engineering activity on Wall Street and it might give a temporary boost to mortgage refinancings. But the economic "recovery" of the last 8 years has been an illusion base...Read More

Export billet prices from Iran continued to increase in the last week of July amid lively trading of September-rolling volumes.Fastmarkets' weekly price assessment for steel billet, export, fob ports Iran, was $390-395 per tonne on Wednesday July 31, against $385-395 per tonne a week earlier.Several cargoes have been reported sold to customers in the Middle East, Africa and Southeast Asia within t...Read More

By: Ira Epstein$1,425.60 keeps the gold price bias to the upside:Read More