The Brazilian steel association, A??o Brasil, has slashed its forecasts for steel production and consumption in 2019, because of a weak performance in the first half of the year, it said on Thursday July 25.Steel output was now expected to reach 35.55 million tonnes this year, growth of only 0.40% from the 35.41 million tonnes produced in 2018.This compared with the previous expectation for growth...Read More
Facebook and Tesla both closed lower after earningsStocks sold off today on a disappointing batch of corporate earnings reports. The Dow brushed off initial optimism from a relatively dovish European Central Bank (ECB) statement and a strong reading on durable goods orders to shed triple digits on another down day for Boeing (BA) and an earnings-induced drop for Dow (DOW) stock. The S&P and Nasdaq...Read More
IP has run up to its 200-day trendlineInternational Paper Co (NYSE:IP) is enjoying a breakout day, up 3.6% to trade at $45.71 today after the paper company reported a second-quarter earnings and revenue beat. However, there should some caution surrounding the stock, as it just pulled up to a trendline that has historically bearish implications.More specifically, the equity has run up to resistance...Read More
Ford is having its worst day in yearsStocks are trading lower today in another big day for earnings. Automakers Ford Motor Company (NYSE:F) and Tata Motors Limited (ADR) (NYSE:TTM) are two names trading in the red, while pharmaceutical concern AstraZeneca plc (NYSE:AZN) is in positive territory. Let's take a closer look at the shares of F, TTM, and AZN. Ford Stock Sinks as Restructuring Efforts...Read More
The shares are testing resistance at their 320-day trendlineMorgan Stanley (NYSE:MS) has edged higher in recent weeks, boosted by a positive earnings reactions and dividend excitement following the Fed's annual stress tests. This modest bounce now has the bank shares trading near a trendline that's had bearish implications in the past, which could put them on track to resume their longer-term down...Read More
Paysign's recent plummet put it right back in line with a historically bullish signal The shares of Paysign Inc (NASDAQ:PAYS) have yet to recover from Monday's bear gap, sparked by a downgrade from BTIG.Today, the stock is down 3.7% at $13.26, looking to snap its seven-week win streak with a 24.4% weekly loss so far -- its biggest since 2016. It looks grim for PAYS right now, but there might be a...Read More
The headwinds created by political uncertainties, on-and-off trade negotiations and the enactment of tariffs hurt mergers and acquisitions (M&A) activity in the metals sector during the second quarter of this year, according to a quarterly report by consultancy group PwC. While overall deal volume remained relatively consistent with the trailing 12-month average, overall disclosed deal volume decl...Read More
Microchip Technology notched an impressive bull gap WednesdaySubscribers to Schaeffer's Expiration Week Countdown options recommendation service just tripled their investmenton the Microchip Technology Inc. (NASDAQ:MCHP) weekly 7/26 90-strike call trade. Below, we'll explain the factors that went into this short-term options trade hitting its expected target, leaving speculators with a big win.We...Read More
Oil prices are rallying, thoughThe Dow Jones Industrial Average (DJI) is headed for back-to-back losses amid a post-earnings slide for Dow (DOW) stock. Boeing (BA) headwinds are also pressuring the blue-chip index, with the stock getting hit with a round of price-target cuts following yesterday's bruising earnings reaction. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also trading lo...Read More
* Download MP3RecapIn Part II of the discussion with the founder of Corona Capital Management John Scurci, continues with his perspective on the financial markets. This is not a time for financial complacency notes, amid mountains of national debt on a global basis and central banking intervention on an epic scale. The scope and scale of the impending financial deluge will be incomparable...Read More
Add to stock market bulls' wall of worry a drop in West Coast home prices for the first time in seven years. This is part of a larger trend that saw U.S. home sales down 2.2% compared to a year ago. That's the 16th straight month of annual sales declines, even as mortgage rates have fallen since last October from 4.95% to 3.75%. Some observers profess to be mystified, since the economy appears t...Read More
It's going to be a busy week for traders Wall Street is ready to barrel into August with jam-packed economic and earnings calendars. In addition to an onslaught of jobs data -- culminating in the Friday release of July's nonfarm payrolls report -- traders will be watching Wednesday's policy announcement from the Fed, with the market currently pricing in a quarter-point rate cut.Meanwhile, Apple (A...Read More
It is time to explore the details of ourGold vs. Silver ratio research and to start to understand the potential forprofits within this move in precious metals. The firstpart of our research article highlighted the Gold vs. Silver ratio andwhy we believe the “reversion process” that is taking place in price could bean incredible opportunity for traders. Historically, when the...Read More
ALGN and XLNX shares are trading in the red this morningCorporate earnings keep pouring in, and two names making notable moves lower after quarterly reports are teeth straightening expert Align Technology, Inc. (NASDAQ:ALGN) and programmable chip producer Xilinx, Inc. (NASDAQ:XLNX). Here's the data you need to know for the shares of ALGN and XLNX this morning. Align Technology was hit with at lea...Read More
Turkey produced 16.994 million tonnes of crude steel in January-June 2019, down 10.14% on the 18.912 million tonnes produced in the first six months of 2018.According to the Turkish Steel Producers Association (T???oeD), the fall in output was largely due to the negative sentiment that has been dominating Turkey's domestic steel market since August 2018 when the country's lira lost significan...Read More
The blue chip announced earnings and revenue that came in ahead of estimates Industrial technology concern 3M Co (NYSE:MMM) is eyeing its fourth consecutive win today, brought on by impressive second-quarter earnings and revenue. Specifically, 3M announced adjusted quarterly profit of $2.20 per share, beating analysts' consensus $2.05 estimate, and revenue that topped expectations at $8.17 billion...Read More
Southwest Airlines stock has managed to move higher this yearEarnings season continues this morning as traders digest a quarterly beat out of Southwest Airlines Co (NYSE:LUV). Specifically, Southwest managed a slight profit despite the global grounding of the Boeing 737 Max planes, while also dishing out a better-than-expected quarterly earnings. Softening the Boeing blow was the company's strong...Read More
Under Armour stock is up 55% this yearThe shares of Under Armour Inc (NYSE:UAA) are up 0.5% to trade at $27.51 today, after Telsey Advisory Group upped its price target on the athletic apparel name to $25 from $22. Now, Under Armour stock is heading toward its third straight win. The shares have carved out a channel of higher highs and lows all year, with recent pullbacks finding support at their...Read More
Our advanced Fibonacci price modelingsystem is suggesting that the current Silver rally may be nearing a point wherethe price will pause and retrace a bit before advancing further. The incredible breakout rally over the pastfew weeks in Silver was a real surprise for many investors. The sleepy shiny metal that everyone thoughtwas dormant broke well above the $15.50 level on huge volume...Read More
German steelmaker ThyssenKrupp approved investment funds to build a 230,000 tonne per year chromium coating line for packaging steel at its Rasselstein site in Andernach, western Germany, it said late in the week ending on July 19.The new coating line will be a replacement for the current line, following a change in European Union (EU) regulations, with production capacity remaining approximately...Read More