Steve St. Angelo, SRSrocco Report The collapse of global oil demand has impacted the price of Canadian Oil Sands to such a degree, the price of a barrel is now cheaper than a 12-pack of Coke purchased at Walmart. According to oilprice.com, the current price of a barrel of Western Canadian Select (oil sands) is $4.47 versus a 12-pack of Coke at Walmart for $5.08. What a deal... ah? Now, l...Read More
By: Ira EpsteinGold will react to Trump's new conference (just after this recording). Re-opening will be different, varying over the nation and economy. Health care near year's highs.Gold's short-term giving up gains. Swing-line down, bull's don't want to see..Read More
Focus is on how the world will move once the various nations open up. Gold and silver will break free from the recent range trade and form a new range. No need to worry. I will prefer till next week and then make decide on whether to make a new investment in gold or wait. In the short term selected stocks will give a much better return than gold. Silver should outperform gold as prices moves sho...Read More
Trading activity in the CIS export billet market was limited in the week to Friday April 17, with customers in most outlets preferring to take a wait-and-see approach amid a lack of clarity over the future price trend.Market sentiment has not been helped by the approaching religious holidays in the Middle East and the weak demand for finished steel products resulting from the global response to th...Read More
Prices in Southeast Asia's steel billet market were stable on Friday April 17, despite an upturn in global ferrous scrap prices, with demand in the region remaining weak.Market participants were doubtful that suppliers could push through price increases for sales to Southeast Asia due to lackluster billet demand with most countries in the region still under restrictions imposed by their respective...Read More
The price of vanadium pentoxide in Europe jumped by more than 25% in the week ended Friday April 17 due to concerns over obtaining the material during the continued lockdown in South Africa. Fastmarkets assessed the vanadium pentoxide 98% V2O5 min, in-whs Rotterdam price at $6.90-7.45 per lb on Friday, up 25.3% from the previous week's assessment of $5.2-6.25 per lb and at a three-month high....Read More
Shares of Tronox Holdings traded higher after the company released preliminary Q1/20 earnings data and provided an update on its ongoing operations. This morning prior to the opening of U.S. markets, Tronox Ltd. (TROX:NYSE) announced some selected preliminary unaudited financial results for Q1/20 ending March 31, 2020. The company additionally provided an update on its current business operations...Read More
Oil futures remained at their lowest since 2002The Dow extended its midday rally to end both the day and week higher thanks to a life out of Boeing (BA). However, it did pare earlier gains due to underperforming Apple (AAPL) and Amazon.com (AMZN). The Nasdaq and S&P 500 also ended the day and week in the black, boosted by optimism over Gilead Sciences' (GILD) potential coronavirus treatment. Loo...Read More
Moderna received millions in funding for coronavirus vaccineGilead Sciences (GILD) isn't the only one making headlines today in regards to COVID-19. Shares of Moderna Inc (NASDAQ:MRNA) are soaring, after the company received a $483 million from the Biomedical Advanced Research and Development Authority (BARDA) to accelerate the development of its coronavirus vaccine. Following the news, Piper Sand...Read More
Boeing announced it will resume production next weekAmid the COVID-19 pandemic, it's an understatement to say the airline sector is taking a massive hit. The order book of jet makers and their deliveries has been impacted immensely, with Boeing Co (NYSE:BA) suffering a reported 313 cancellations mixed between contract terminations and future cancellations. Despite this, the aerospace giant plans...Read More
IBM is seeing resistance at the descending 40-day moving averageShares of blue-chip IBM (NYSE:IBM) are up 2.8% this afternoon, last seen at $118.89. The equity has been inching its way higher from its March 23, 11-year low of $90.56, and is now up 7% for the month of April. Today's gains has the tech name attempting yet another rebound close back above the 40-day moving average, a feat made just t...Read More
All three indexes are on track for their first back-to-back weekly gains in over a monthDespite paring bigger gains, the Dow Jones Industrial Average (DJI) looks like it will end the week on a positive note, up nearly 400 points at midday. The Nasdaq Composite (IXIC) and S&P 500 Index (SPX) are both joining the Dow in the black, as optimism over a possible COVID-19 treatment eases Wall Stre...Read More
Oil plunged to an 18-year lowWall Street was all over the place this week, in a volatile stretch indicative of where the world is at right now. The Dow kicked off the week alternating between triple-digit losses and gains. The only model of consistency was the Nasdaq, earlier in the week logging its first four-day win streak since early February. Commodities joined in on the roller-coasted action...Read More
A report was released that Gilead Sciences' COVID-19 treatment is workingShares of Gilead Sciences, Inc. (NASDAQ:GILD) are surging, last seen up 10.6%, at $84.66, after an encouraging report suggested the biotech company's antiviral medication remdesivir may be effective at treating patients with severe cases of COVID-19. Conversely, there is some pessimism surrounding these findings, with Baird i...Read More
Volvo Cars announced on Friday April 17 that it will restart production at its plant in Torslanda, Sweden, on April 20 after several weeks of suspended activity under lockdown measures brought in to help stem the spread of the Covid-19 pandemic.The company closed three sites in Sweden on March 26, which it originally planned to reopen on April 14.Volvo's plant in Ghent, Belgium, will also reopen o...Read More
Gold COT Report - FuturesLarge SpeculatorsCommercialTotalLongShortSpreadingLongShortLongShort286,61734,11633,338116,839397,247436,794464,701Change from Prior Reporting Period 6,7373,1783,517-2,0462,7518,2089,446Traders19566684954275160 Small Speculators (C) GoldSeek.com LongShortOpen Interest 53,17125,264489,965 1,7074699,915 non reportable positionsChange from the pr...Read More
By: Ira EpsteinGold will react to Trump's new conference (just after this recording). Re-opening will be different, varying over the nation and economy. Health care near year's highs.Gold's short-term giving up gains. Swing-line down, bull's don't want to see..Read More
Focus is on how the world will move once the various nations open up. Gold and silver will break free from the recent range trade and form a new range. No need to worry. I will prefer till next week and then make decide on whether to make a new investment in gold or wait. In the short term selected stocks will give a much better return than gold. Silver should outperform gold as prices moves sho...Read More
Our Adaptive Fibonacci Price Modeling system incorporates anintelligent “Inference Engine” into internal decision-making and futureanalysis. This type of “Adaptive Learning”is one of the core elements of Artificial Intelligence – the ability to readinputs, adapting to price structures and setups and infer expectedoutcomes/results based on a complex decision-maki...Read More
RF reported earnings below Wall Street's estimatesRegions Financial Corp (NYSE:RF) shares are shaking off a less-than-stellar first-quarter earnings report, up 5.8% to trade at $9.37, at last check. The company reported adjusted first-quarter earnings of 14 cents per share on $1.41 billion in revenue, lower than analysts' anticipated 23 cents per share and $1.46 billion. On the charts, Regions Fin...Read More