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

Several analysts have chimed in today with a variety of opinionsThe semiconductor sector is in focus this morning, after Advanced Micro Devices, Inc. (NASDAQ:AMD) reported second-quarter earnings last night. While the chip name's earnings and revenue were in-line with expectations, its third-quarter guidance of $1.80 billion came in lower than the $1.95 billion expected due to lower demand for ch...Read More

Alternative energy stock ENPH has had a huge yearClean energy stock Enphase Energy Inc (NASDAQ:ENPH) is set for record highs, trading up 21.5% before the open thanks to a second-quarter earnings beat. This just extends a strong year for the shares, which sport a lead of almost 360% in 2019, closing Tuesday at $21.65. A few bull notes have come through this morning, and today's move could also be g...Read More

A round of analyst bull notes have poured in, tooLattice Semiconductor Corp (NASDAQ:LSCC) stock is up 12.3% in electronic trading, after the programmable logic device maker reported second-quarter adjusted earnings of 15 cents per share on $102.30 million in revenue. This was more than the consensus estimates of 11 cents per share in earnings and $99.72 million in revenue, and bullish analysts hav...Read More

The U.S. and China will reportedly resume trade talks in September Apple (AAPL) earnings are front and center this morning, boosting Dow Jones Industrial Average (DJI) futures, after the tech giant posted quarterly figures that topped expectations and issued strong revenue guidance. The Fed is in focus, too, with the central bank widely expected to cut interest rates later today. Elsewhere, priva...Read More

China's rebar prices were flat in both the domestic and export markets on Wednesday July 31, with demand being reported as steady but weak.Domestic Eastern China (Shanghai): 3,920-3,940 yuan ($569-572) per tonne, unchangedNorthern China (Beijing): 3,830-3,850 yuan per tonne, unchangedRebar futures picked up in the morning before retreating in the afternoon, but the early gains failed to stimulate...Read More

Debunking the popular notion that small-cap underperformance is ominousOver the past year, the Russell 2000 Index (RUT) -- a barometer of small-cap stocks -- is down over 7%, while the large-cap S&P 500 Index (SPX) is up over 6%. A popular notion is that when there is a divergence between small-cap and large-cap stocks, the direction of the small-caps predicts the future direction of the market in...Read More

Fastmarkets on Wednesday July 31 launched weekly export price assessments for stainless steel cold-rolled coil, grade 304 (2mm), fob China, $/tonne and stainless steel hot-rolled coil, grade 304, fob China, $/tonne.The launch of these assessments following a month-long consultation reflects China's status as a major exporter of stainless steel. They will serve as important benchmarks for the inter...Read More

Glencore has cut its ferro-chrome production guidance for 2019 by 10% to 1.48 million tonnes as part of its extended winter shutdown, the company said on Wednesday July 31. The trader-miner had already reduced its output guidance by 50,000 tonnes to 1.64 million tonnes in April due to "additional maintenance and extended winter shutdowns, amid reduced power availability/challenges in South Af...Read More