The leader requested that all Hong Kong citizens take out all bank deposits on Friday. Continue...Read More
Deutsche Bank's fresh low underscores European banking's decline.Continue...Read More
Gold and Bitcoin have tended to move in lockstep. Lately though, we've seen Continue...Read More
As global interest plummets to historically negative levels-and as the U.S. bond market reveals a deeply Continue...Read More
Domestic prices for ferrous scrap in Italy have declined over the past month due to seasonally weak demand, sources told Fastmarkets.Fastmarkets' monthly price assessment for steel scrap, No E3 (old thick scrap), domestic, delivered mill Italy was ?,?230-245 ($257-273) per tonne on August 14, compared with ?,?240-255 per tonne in the middle of July.Demand for ferrous...Read More
The Turkish billet markets have been quiet over the past week with trading activity restricted by absences for a religious holiday, sources said on Thursday August 15.The Turkish market and those in other Middle Eastern territories were closed until August 15 to celebrate the Islamic Eid al-Adha.Only one steel mill was heard bidding for...Read More
A Canadian explorer concluded this based on recent and historical exploration work there. Metallic Minerals Corp. (MMG:TSX.V; MMNGF:OTCMKTS) announced in a news release the latest exploration results from its Keno silver project in Canada's Yukon Territory.These findings come from recently conducted exploration work and compilation and analysis of historical data on the Central Keno Hill Silver D...Read More
Further upside potential remains deeper in the gold system. Lion One Metals Ltd. (LIO:TSX.V; LOMLF:OTCQX) announced in a news release it started a regional geochemical survey across the Navilawa caldera near the company's Tuvatu project on Viti Levu in Fiji.This survey, which will cover Navilawa SPL 1512, is part of the first phase of the company's planned 2019 exploration program. Lion One will...Read More
China's domestic rebar prices retreated again on Thursday August 5 after a two-day rebound, because of destocking, sources told Fastmarkets. Domestic Eastern China (Shanghai): 3,670-3,730 yuan ($522-527) per tonne, down 30 yuan per tonneNorthern China (Beijing): 3,610-3,630 yuan per tonne, down 20 yuan per tonneFutures picked up today, stimulating some buying interest and traders with la...Read More
Domestic stainless steel prices in China edged up further over the past week despite the European Union initiation of an anti-dumping investigation on products from the country and two other territories.Fastmarkets' price assessment for stainless steel cold-rolled coil 2mm grade 304 domestic, ex-whs China in the country's major market of Wuxi was 15,100-15,500 yuan ($2,148-2,205) per tonne includi...Read More
Walmart's strong earnings report helped the Dow The Dow managed to gain today, recovering slightly from yesterday's massive sell-off. Walmart's (WMT) strong earnings report fueled the index's rise early on, and positive economic data -- including upbeat retail sales -- also piqued buyers' interest. At the same time, sharp losses from names like Cisco Systems (CSCO) and General Electric (GE) stocks...Read More
J.P. Morgan Securities thinks this financial name could be a takeover targetA positive reaction for Walmart (WMT) earnings is keeping the Dow above water today, though the Nasdaq is lagging on post-earnings losses for Cisco Systems (CSCO). Among other stocks making notable moves are online trading name Gain Capital Holdings Inc (NYSE:GCAP), Wrangler jeans maker Levi Strauss & Co. (NYSE:LEVI), and...Read More
The analyst predicted 90% downside for the weed stockWeed stocks are lower today, as the sector sinks on an earnings miss from Canopy Growth (CGC). What's more, Vertical Group today weighed in on cannabis concern Tilray Inc (NASDAQ:TLRY), saying it's time to short the shares. The analyst issued a year-end 2020 price target of just $4 for TLRY shares, representing a 90% plummet from yesterday's clo...Read More
SPY's Bollinger Band width that was at an extreme low at the time of the recommendationSubscribers to Schaeffer's Weekly Volatility Trader options recommendation service just scored a major profit on the SPDR S&P 500 ETF (SPY) weekly 8/12 301-strike put and call straddle. Below, we'll explain why we expected an outsized move for SPY, and how the winning options trade unfolded. A straddle is an...Read More
TD Securities upgraded the equity to "buy" Canada-based drugmaker Bausch Health Companies Inc (NYSE:BHC) is hovering atopbreakeven today, despite an upgrade from TD Securities to "buy" from "hold," per TheFly.com. This upgrade comes on a dip for BHC, which has lost 11.6% so far this month. However, during this sell-off the equity did trigger a historically bullish signal that could indicate a boun...Read More
The software company is also set to report earnings next weekVMware, Inc. (NYSE:VMW) is moving sharply lower today, down 5.7% at $144.38, due to reports that the company is in talks to buy Pivotal Software (PVTL). This move is important for two reasons. For one, the company is scheduled to report earnings next week, after the close on Aug. 22, and secondly, the price action puts VMW shares below l...Read More
CAT is headed for its longest weekly losing streak since the 2016 electionStephens initiated coverage on Caterpillar Inc. (NYSE:CAT) with an "underweight" rating and $100 price target -- a more than 13% discount to last night's close. While the analyst in coverage waxed optimistic on the construction concern's restructuring efforts, he said a slowing global economy could create risk for the trade-...Read More
Carvana stock has already added 139% in 2019A big earnings winner last week was Carvana Co (NYSE:CVNA), which gapped higher by 25% -- its best day since June 2017 -- in the wake of better-than-expected second-quarter revenue. Fresh off that upbeat report and an Aug. 14 record high of $81.37, CVNA is flashing a bullish signal that indicates there's plenty of room for more upside, if history is any...Read More
GoldSeekAugust 15th marks the 48th year anniversary since the end of gold backing the U.S. Dollar for international trade. Here is President Nixon announcing this dramatic monetary and other economic policies on August 15, 1971:Read More
The yield curve inversion just got more pronounced. Not only the spread between 10-year and 3-month Treasuries, now also the spread between 10-year and 2-year turned negative. That sends a warning signal about the state of the real economy. About a recession on the horizon. Some might argue that the yield curve’s predictive power has diminished with all the unorthodox monetary policies since...Read More