No less than three analysts raised their price targetsE*TRADE Financial Corp (NASDAQ:ETFC) is down 0.2% to trade at $38.14 today, after the firm reported adjusted first-quarter earnings of 74 cents per share, well below the 91 cents per share anticipated by analysts. E*TRADE's $707 million in revenue also came in lower than expected. Analysts chimed in optimistically, however, as no less than thr...Read More

J C Penney is currently discussing filing for bankruptcy The plight of J C Penney Company Inc (NYSE:JCP) continues; as of today the department store chain name is in advanced talks for bankruptcy funds. According to a Wall Street Journal report, the retailer is seeking a debtor-in-possession loan from big banks somewhere in the ballpark of $800 million to $1 billion so the company can remain oper...Read More

Oil prices are extending their rally as rumors of a production cut circulate The Dow Jones Industrial Average (DJI) is lower at midday, having pared away triple-digit gains from the morning. The Nasdaq Composite (IXIC) and S&P 500 Index (SPX) have also traded on both sides of the aisle today, while all three benchmarks cruise toward sizable weekly losses. Oil prices are so far clinging to gain...Read More

L Brands has filed a complaint against Sycamore Partners for deal gone awryShares of L Brands Inc (NYSE:LB) are down 1.5% to trade at $10.46, after receiving no fewer than four bear notes, including a downgrade out of Barclaysto "equal weight" to "overweight," and price-target cut to $10 from $30. This slam comes after news that L Brands filed a complaint against Sycamore Partners for backing out...Read More

Gold COT Report - FuturesLarge SpeculatorsCommercialTotalLongShortSpreadingLongShortLongShort282,26332,69240,929116,808396,881440,000470,502Change from Prior Reporting Period -4,354-1,4247,591-31-3663,2065,801Traders19960705759287160 Small Speculators (C) GoldSeek.com LongShortOpen Interest 53,15822,656493,158 -13-2,6083,193 non reportable positionsChange from the pre...Read More

By: Gary SavageEquity markets are going to keep rallying, $ES / SP500 upside targets, see where our intermediate-top will be:Gary SavageRead More

By: Ira EpsteinYou need to take gold one step of a time. Gold $3,000 target.. Read More

A break of key technical resistances will result in another wave of rise in all metals and energies. Do not short crude oil. I expect crude oil prices to rise to $80 (nymex) next year once world gets over corona virus crisis. Crude oil producers and large speculators will more than make up for their current losses next year. Buy crude oil call options for August 2021 with a strike price of $70.0...Read More

The recent economic reports show that the current coronavirus crisis will be bigger than the Great Recession. What does it imply for the gold market? US Economic Data Paints a Gloomy PictureThis week was full of new reports about the US economy. And guess what, I don’t have good news… First of all, let’s start with the update about the weekly initial unemployment benefits. In no...Read More

Continental Resources is ceasing production in North DakotaThe shares of Continental Resources (NYSE:CLR) are down 4% at $12.70, amid news that the company ceased production in North Dakota and closed off most of its wells in the state's Bakken shale field. Earlier, it was reported that CLR declared force majeure on at least one contract after crude dipped into the negative this week.Continental R...Read More

Sanofi cited a strong demand for pain and fever medications during its first quarter French pharmaceutical maker Sanofi SA (NASDAQ:SNY) is up 2.2% at $49.45 after releasing its first-quarter results and confirming its 2020 outlook. The company announced a 16.1% rise in income at constant exchange rate to 2.04 billion euros, or $2.20 billion, and a 6.6% pop in sales to 8.97 billion euros, or $9.69...Read More

Oil prices appear ready to rally for the third-straight dayDow Jones Industrial Average (DJI) futures are poised to climb this morning, propped up by an encouraging earnings report from blue chip American Express (APX). Wall Street is so far shaking off some of the latest alarming economic data, as durable goods orders for March fell 14.4%. Futures on the Nasdaq-100 Index (NDX) and S&P 500 Inde...Read More

After a long term bear market in most commodity related stocks we are starting to hear analyst talk about inflation. From a Chartology perspective the deflationary scenario is still in play but how much lower can this sector go? In tonights Weekend Report, I’m going to update some long term commodity charts we’ve been following for years to see where they are currently trading in their...Read More

Apparent steel consumption in Brazil totaled 1.61 million tonnes in March 2020, falling by 11.1% from 1.82 million tonnes in the corresponding month of 2019, the national steelmakers' association, Instituto A??o Brasil, said on Friday April 24.Aside from December, which is a traditionally weaker month for steel demand because of holidays, this was the lowest figure reported since January 2019. Som...Read More

More Italian steel producers restarted their operations in the week ended Friday April 24, but one French flat steel producer plans to temporarily idle its remaining equipment, Fastmarkets has heard.European steelmakers have been reducing output and temporarily idling equipment due to the poor demand resulting from lockdown orders and other quarantine measures implemented across the region with th...Read More

German steelmaker Salzgitter has downgraded its full-year earnings forecast for 2020 due to the Covid-19 pandemic, the company said in its preliminary report for the first quarter on April 24."We anticipate a negative pre-tax result in a significant, with a high probability, triple-digit million euro range for the financial year 2020. The scope of feasible scenarios is so extensive that precise qu...Read More

British Steel is set to restart production at its North Yorkshire special steel mill, on Monday April 27, following a three-week shutdown the company announced on April 24.In addition to the 240,000 tonnes-per year special steel mill at Skinningrove in Redcar & Cleveland, the company said it also plans to reopen its Lisburn service centre in Northern Ireland."Whi...Read More

Crude steel production in Germany fell by 10.36% year on year in March due to production cuts made to meet a drop in demand, the German steel federation, WV Stahl, said on April 23.Germany's crude steel production totaled 3.29 million tonnes in March 2020, down from 3.67 million tonnes in the corresponding period of 2019.A large number of end users, particularly automotive manufacturers, have stop...Read More

Gold COT Report - FuturesLarge SpeculatorsCommercialTotalLongShortSpreadingLongShortLongShort282,26332,69240,929116,808396,881440,000470,502Change from Prior Reporting Period -4,354-1,4247,591-31-3663,2065,801Traders19960705759287160 Small Speculators (C) GoldSeek.com LongShortOpen Interest 53,15822,656493,158 -13-2,6083,193 non reportable positionsChange from the pre...Read More

By Mike Gleason The metals complex showed relative stability this week as the oil market suffered a historic meltdown. West Texas Intermediate Crude crashed 70% at one point this week on the continuous contract, bringing prices briefly below $7 per barrel. By Thursday, prices were trading between $14 and $18 per barrel. The volatility on the May futures contract was even more extreme. On Monda...Read More