Soaring iron ore prices have pushed Chinese hot metal costs up above those for ferrous scrap over recent months, stimulating greater use of the secondary raw material, according to calculations by Fastmarkets' research team. Fastmarkets' Steel Cost Service updates for the first and second quarters of 2019 detail average global integrated (BOF-route) plant's crude steel costs rose to an average of...Read More

China's rebar futures fell on Friday August 2 after United States President Donald Trump threatened to impose a 10% import duty on $300 billion worth of Chinese goods from September 1, which pushed down spot prices for the long steel product. Domestic Eastern China (Shanghai): 3,820-3,850 yuan ($554-558) per tonne, down 60-70 yuan per tonneNorthern China (Beijing): 3,750-3,780 yuan per tonne, down...Read More

ArcelorMittal has lowered its 2019 forecast for apparent steel consumption in Brazil amid slowing growth in the country's gross domestic product and a recession in neighboring Argentina.Brazilian steel demand is now expected to increase by 1.5-2.5% this year, compared with a previous of estimate of 3-4%, according to calculations by the world's largest steelmaker disclosed in its second-quarter ea...Read More

The Dow fell for a fourth straight dayU.S. stocks added to their recent weakness today, with the Dow finishing deep in the red for its fourth consecutive loss. The S&P and Nasdaq also finished deep in the red and extended their losing streaks to five days -- the longest since March -- due to ongoing trade fears, each posting their worst weekly performance of the year. An afternoon press conference...Read More

European steelmakers have increased their offer prices of stainless-steel flat products due to higher nickel costs, sources told Fastmarkets on Friday August 2.The price of nickel, 3 months, London Metal Exchange Daily Official, was $14,520-14,525 per tonne on August 2, up from $14,100-14,125 per tonne on July 26.As a result, European steelmakers have increased the August alloy surcharges for grad...Read More

BMO downgraded the equities to "underperform"The shares of Sprouts Farmers Market Inc (NASDAQ:SFM) are lower this afternoon, as traders pan the grocery concern's quarterly earnings report. In addition, analysts at J.P. Morgan Securities downgraded SFM to "neutral" from "overweight," and cut their price target to $19 from $22. Meanwhile, BMO Capital cut SFM stock to "underperform" from "market perf...Read More

Contrary to majority opinion, gold and especially the gold mining stocks that leverage its macro status are not about inflation, especially cyclical inflation that runs with a positive economy.Making an appropriate return after a few months on hiatus, ladies and gentlemen… the Macrocosm. old stocks are about counter-cyclicality as gold rises vs. US stocks…Gold rises vs. Global Stocks...Read More

An earnings beat from Aphria is helping the marijuana sector buck the broad market selloff While stocks are sinking today on trade fears, the weed sector is bucking broad market trends. This sector surge includes Cronos (CRON), up on its buyout of Redwood. Two other names making headlines today are Aphria Inc (NYSE:APHA) and Aurora Cannabis Inc (NYSE:ACB). Below we'll take a look at what's driving...Read More

Several blue chips made noise after earningsIt was a rough week on Wall Street, to say the least. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are pacing for a fifth straight loss and their longest losing streaks since early March, as the Fed and trade developments rattled markets. Following the Fed's first (and widely expected) rate cut since the financial crisis, stock traders had a knee-...Read More

On July 31, 2019, the US Federal Reservedecreased the Federal Funds Rate (FFR) by 25 basis points.  We believe the US Fed was pushed to take thisaction for three reasons that are directly related to the fear and greed thatis abundant in the global markets.Reason #1 Fed Had To Cut RatesFirst, the US Fed is very concerned that the US housing market has stagnated and weakened over the past 16+ m...Read More

CAR is up more than 50% year-to-dateCar rental name Avis Budget Group Inc. (NASDAQ:CAR) is moving lower this afternoon, last seen down 3.3% at $34.13, as stocks suffer in the wake of global trade fears. Meanwhile, options traders are mostly likely gearing up for the company's second-quarter earnings report, slated for release after the market closes on Monday, Aug. 5. Below we will take a look at...Read More

Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 312,21457,82645,699141,164429,131499,077532,656 Change from Prior Reporting Period 333-2,805-10,499-34,621-34,493-44,787-47,797 Traders 21061675360287168 Small Speculators LongShortOpen Interest 64,22130,642563,298 -8,774-5,764-53,561 non reportable posit...Read More

SRSrocco The gold and silver prices have held up remarkably well compared to the broader markets as they continue to sell off today. While the Dow Jones Index is down more than 250 points, gold and silver are just slightly lower. However, gold has traded in the green several times today. If we look at the 5-minute chart, we can plainly see that gold and silver have been trading in an opp...Read More

Arrowhead Pharmaceuticals stock has already added 135% in 2019A big biotech winner lately has been Arrowhead Pharmaceuticals Inc (NASDAQ:ARWR), which recently outperformed the broad market sell-off yesterday. ARWR nabbed an 11-year high of $30.73 on July 22, but a signal is sounding that indicates more multi-year highs could be in store, if history is any indicator. Implied volatilies on the equ...Read More

The gold miners' stocks have surged dramatically this summer, catapulted higher by gold's major bull-market breakout. That atypical strength bucking the normal summer-doldrums slump has carried this sector right back to its traditional strong season. That begins with a robust autumn rally starting in late summers. This year's autumn-rally setup is very unusual, but investment buying could...Read More

- Dave KranzlerThe price of gold has rejected numerous attempts by the banks to hammer the gold price below $1400 using paper gold derivatives on the Comex and the LBMA. I have not seen gold behave with such resiliency in the last 19 years when the Comex banks have an extremely large short position in Comex paper.The action in the price of gold is signalling that large buyers are accumulating...Read More

By: Ira EpsteinGold daily chart, had an outside day. Market is caught in the two Bollinger bands. Market is churning here and eventually will breakout of here..Read More

- Stefan GleasonFollowing months of cajoling by the White House, the Federal Reserve finally cut its benchmark interest rate. However, the reaction in equity and currency markets was not the one President Donald Trump wanted - or many traders anticipated.The Trump administration wants the Fed to help drive the fiat U.S. dollar lower versus foreign currencies, especially those of major exportin...Read More

The SPX and Nasdaq are eyeing their longest losing streaks since March The Dow Jones Industrial Average (DJI) has dropped to a one-month low today, as anxieties over global trade and Fed policy continue to weigh heavily on stocks. After President Donald Trump yesterday announced new tariffs on Chinese goods, the Asian nation responded by threatening countermeasures. In addition, Wall Street is l...Read More

- Gary TanashianContrary to majority opinion, gold and especially the gold mining stocks that leverage its macro status are not about inflation, especially cyclical inflation that runs with a positive economy.Making an appropriate return after a few months on hiatus, ladies and gentlemen... the Macrocosm.Gold stocks are about counter-cyclicality as gold rises vs. US stocks...Gold rises vs. Glo...Read More