Key data from Fastmarkets' pricing sessions in Europe, Shanghai and the United States in the week to Friday April 3. United States The US ferro-silicon market continued to surge, supported by a limited availability of inventory for the spot...Read More
NFLX's 10-day moving average has stepped up as support latelyNetflix Inc (NASDAQ: NFLX) has held on to a 11% 2020 gain in the face of a global economic meltdown, no doubt in part due to an increase in lockdown measuresin response to the coronavirus pandemic. And although NFLX is down 2.9% at $359.32 at last check, if past is precedent the upcoming quarter could be a friendly one for the FAANG nam...Read More
President Trump said he would invoke the Defense Production Act against 3M in a tweet late on Thursday 3M Co (NYSE: MMM) is down 1.3% to trade at $136.36 this morning, after U.S. President Donald Trump announced on Twitter (TWTR) last night that he was invoking thethe Defense Production Act as a way of getting the company to produce more N-95 face masks. In response, the household goods manufactur...Read More
Historically, ULTA is one of the best stocks to own in the second quarterBeauty retailer Ulta Beauty Inc (NASDAQ: ULTA) has struggled during measures taken to contain coronavirus -- closing stores and moving completely digital. After a price target cut to $200 by Jefferies, ULTA stock is down 0.6% to trade at $160.32. However, a silver lining; Schaeffer's Senior Quantitative Analyst Rocky White b...Read More
The S&P 500 and Nasdaq are also hit with sharp losses at middayThe Dow Jones Industrial Average (DJI) is sitting with modest lossesat midday, down nearly 400 points. The Nasdaq Composite (IXIC) and S&P 500 Index (SPX) are following the Dow's lead with steep slides, as the Labor Department's nonfarm payrolls report fell by 701,000 in March for the first jobs decline in a decade. The coronavi...Read More
AAPL puts have risen in popularity Apple Inc (NASDAQ:AAPL) has implemented a plethora of new measures to help protect both customers and employees from the infectious coronavirus, including a policy that limited customers to two iPhones per online transaction, and another that saw all of its brick-and-mortar stores outside of China close. While the former policy was rescinded shortly after, Apple...Read More
The alcoholic beverage producer posted fiscal fourth-quarter earnings and revenue that beat estimates Wine and beer producer Constellation Brands, Inc. (NYSE:STZ) surged higher in pre-market trading before eventually falling flat, even after announcing fiscal fourth-quarter earnings of $2.06 cents per share, and $1.9 billion in revenue, beating analysts estimates. The firm said it has plenty of...Read More
Oil prices are once more rebounding today Dow Jones Industrial Average (DJI) futures are pointed lower by nearly triple digits this morning, as coronavirus cases top one million worldwide.Futures on the Nasdaq-100 Index (NDX) and S&P 500 Index (SPX) are also deep in the red before the open,as investors unpack the Labor Department's nonfarm payrolls report, which dropped by 701,000 in March, th...Read More
Carmaker Ford has extended the restart of its European operations into May, while Mercedes-Benz owner Daimler has chosen to bring in short-time working while European nations try to control the Covid-19 pandemic.The automotive manufacturers in Europe and the UK extended their initial production suspensions following the introduction or extension of national lockdown measures.The shutdowns were ann...Read More
European steelmakers have been reducing output and temporarily idling equipment due to the poor demand caused by lockdowns and quarantine measures implemented across Europe intended to prevent the spread of Covid-19.Of particular importance has been the closure of a large number of automotive manufacturers. Carmakers in Europe and the UK have extended their previously announced production suspensi...Read More
Chris MarcheseChief Mining Analyst, GoldSeek & SilverSeek Week Ended April-3, 2020 $GORO, $EXK, $PAAS, $NEM, $TXG.TO, $GPL, $AG, $USAS, $EXN.TO, $AEM, $AGI, $AR.TO, $ALO, $BTG, $EQX, $BTG, $GCM.TO, $INV.TO, $KGC, $KL, $PG.TO, $PVG, $OSK.TO, $OR, $SAND, $TMR.TO, $WPM The Mexican federal government has mandated that all non-essential businesses, including mining, temporarily suspend oper...Read More
By Mike Gleason A surge in coronavirus cases, an expansion of economic lockdowns, and an explosion in unemployment claims hit markets this week. But this deluge of bad news didn't seem to catch investors by surprise. Instead of crashing to new lows, the stock market held within a trading range and rallied yesterday following the release of a horrific jobs report. It's been a huge week f...Read More
Gold COT Report - FuturesLarge SpeculatorsCommercialTotalLongShortSpreadingLongShortLongShort287,52928,68032,344128,083412,042447,956473,066Change from Prior Reporting Period -30,399-882-11,535-7,628-35,492-49,562-47,909Traders18355635752269146 Small Speculators (C) GoldSeek.com LongShortOpen Interest 47,69622,586495,652 -2,120-3,773-51,682 non reportable positionsCha...Read More
By Dave KranzlerUnequivocally, gold does not trade on the Comex. The Comex trades paper gold derivatives. It is a futures and options exchange on which a small amount of 100 oz. gold bars change ownership each contract month. The transfer of title is facilitated by the creation of an electronic record called a "warrant." But even these "warrants" which assign title to specific bars are derivativ...Read More
By Jp CortezTwo weeks ago, during a March 17 address to the nation in response to the COVID-19 outbreak, President Donald Trump asked that Americans work from home, postpone unnecessary travel, and limit social gatherings to no more than 10 people.And last week, on March 27, Trump signed a stimulus package of over $2 trillion dollars to provide relief to an economy on the precipice of collapse.T...Read More
Gold miners' stocks have endured epic volatility in this past month, literally crashing before blasting back higher in a violent V-bounce. That preceding wicked capitulation flush savagely forced the weak hands out, paving the way for gold stocks' next major upleg. The resulting fierce rebound signals it is already underway, with plenty of speculators and investors now chasing the huge gains...Read More
By: Ira Epstein$1484.60 - 1672.40 rang on gold. Not good for the emotional trader. Gold is building a better base. But the overall pattern..Read More
Gold, silver and copper are bullish. Crude oil is bullish. But some weekend correction can be there. At the moment rise in crude oil is short covering. If crude oil manages to trade over $23.00 till Tuesday, then chances of a long term bottom formation will be very high. A lot of people are worried as to what will happen to gold and silver after the release of today's US March nonfarm payrolls?...Read More
Brazilian steelmaker Gerdau will idle the No2 blast furnace at its Ouro Branco mill, in the southeastern state of Minas Gerais, this month to adjust operations due to to currently weakened demand because of the Covid-19 pandemic, the company said on Friday April 3.Blast furnace No2 at Ouro Branco has capacity to produce 1.5 million tonnes per year of crude steel. Furnace No1, which will remain act...Read More
ArcelorMittal's Brazilian unit has clarified information about the shutdown of its No3 blast furnace in Tubar??o facility, in the country's southeastern Esp?-rito Santo state; the equipment will remain halted for an indeterminate period, the company told Fastmarkets on Friday April 3.The blast furnace has capacity to produce 2.8 million tonnes of crude steel per year. The Tubar??o unit supplies sl...Read More