Grade-304 stainless steel flat product prices in Europe widened upwards this week, while mills confirmed that alloy surcharges for September would increase substantially, sources told Fastmarkets on Friday August 30. Fastmarkets' price assessment for stainless steel cold-rolled sheet, 2mm, grade-304, transaction domestic, delivered North Europe, was ?,?2,300-2,350 ($2,546-2,601) per tonne on...Read More
The VIX just booked its second straight monthly winAfter starting off gangbusters in the morning, it was a stumble toward the finish line for the Dow today. The blue-chip index finished right around breakeven, slowly whittling away triple-digit gains generated from early U.S.-China trade optimism. The S&P and Nasdaq joined the Dow in a mixed finish, but all three benchmarks did hang on fortheir fi...Read More
Fastmarkets MB has corrected its monthly values for European grade-304 stainless steel alloy surcharges, which were published incorrectly on Friday August 30. The Fastmarkets stainless steel cold-rolled sheet 2mm grade 304 alloy surcharge domestic, Europe price assessment was originally published at ?,?1,889-1,934 per tonne. This has now been corrected to ?,?1,519-1,557 per tonne. The Fastmarkets...Read More
The stocks tend to outperform in SeptemberThe retail sector has been firmly in focus this week, with several stocks seeing huge moves after earnings, including J.Jill (JILL) and Dollar General (DG). Sector peers L Brands Inc (NYSE:LB) and Ross Stores, Inc. (NASDAQ:ROST) could come into focus next month, too, with both showing up on Schaeffer's Senior Quantitative Analyst Rocky White's list of best...Read More
The Dow and S&P are pacing for a third straight daily winIt was another volatile week on Wall Street, driven by an onslaught of U.S.-China trade headlines. The bulk of the price action was to the upside as Washington and Beijing struck conciliatory tones toward trade negotiations, with Friday's gains putting the Dow and S&P 500 Index (SPX) pacing for a third straight daily win and on track to snap...Read More
The broader stock markets are struggling this afternoonStocks are struggling to maintain their early morning positive momentum this afternoon, though all three major market indexes are pacing toward their first weekly win of August. Two names making notable moves today are hospital operator Community Health Systems (NYSE:CYH) and bulk shipping specialist Eagle Bulk Shipping Inc. (NASDAQ:EGLE). Her...Read More
ALXN is clinging to its year-to-date breakeven levelOne of the worst stocks on the Nasdaq today is Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN) down 9.6% to trade at $101.44 today. The U.S. patent office will review three patents for the drugmaker's rare disease treatment Solaris, after Amgen (AMGN) filed a petition challenging the patents. A final outcome is expected in 18-24 months. In response t...Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 362,60965,77154,297148,866482,672565,772602,740 Change from Prior Reporting Period 10,31513,4709,04715,45813,01434,82035,531 Traders 23459765659316170 Small Speculators LongShortOpen Interest 70,41133,443636,183 6,5565,84541,376 non report...Read More
Avi GilburtPersonally, I love trading metals and have been doing so for quite some time. In fact, the best trade of my entire career was in silver many years ago. But, the one thing that we commonly see in the complex is that when the market strikes a top, it most often spikes into and then strongly reverses at that top as a culmination signal. Thus far, I have not seen that in the metals....Read More
By: Ira EpsteinLabor day weekend.. lighter volume expected. The gold market shows its 18-week moving average nearing $1,400. The Daily chart shows resistance around $1,560 on DEC-gold price. Support on 18-day moving average, $1,522+Read More
Rule 1: Don't play if you can't payYou might assume that trading options and playing fantasy football have very little in common, but you'd be wrong. To start, both have become more mainstream lately; more than 4.5 billion equity options traded in 2018, marking an all-time high, according to data from the Options Clearing Corporation (OCC). Plus, almost 60 million North Americans played fantasy sp...Read More
The Dow, S&P, and Nasdaq are all eyeing August losses The Dow Jones Industrial Average (DJI) has erased an early triple-digit gain and is now staring down a 50-point loss at midday. Stocks initially rose on data showing solid consumer spending in July and signs of progress on U.S.-China trade relations, though another round of tariffs on Chinese goods is set to hit over the long weekend. Elsewher...Read More
Precious metals expert Michael Ballanger discusses trends in the market and his recent trades. For those of you that have followed my raves and rants over the years, you are undisputedly aware of all of my biases when it comes to almost everything: bankers, politicians, invasive species, free market suppression, entitled Millennials, and finally, the utility of precious metals in a "financial orde...Read More
FedEx has struggled over the past 12 monthsShipping giant FedEx Corporation (NYSE:FDX) is trading 1.3% higher at $159.46 today, a rarity for the stock, as its long-term performance has a grim history. The stock has shed 35% over the past 12 months, touched a three-year bottom of $147.82 on Wednesday, and is now seeing pressure from a historically bearish trendline. Below, we will explore data fro...Read More
One oil stock, in particular, tends to have a rough monthWe recently outlined the 25 best stocks to own in September, historically, with Southwest Airlines (LUV) enjoying some of the best returns over the past decade. Today, however, we're taking a look at the stocks that tend to slide in September, with oil-and-gas concern Marathon Petroleum Corp (NYSE:MPC) logging the steepest average loss of al...Read More
Both low-priced healthcare stocks are higher this morningHealthcare stocks Paratek Pharmaceuticals Inc (NASDAQ:PRTK) and Akari Therapeutics PLC (NASDAQ:AKTX) both made headlines with strong moves out of the gate. Let's take a moment and check out how the shares of PRTK and AKTX are trading. PRTK was last seen trading up 5.6% at $3.58, thanks to positive data around the company's skin infection tr...Read More
The retailer has seen long-term support at the 160-day moving averageShares of dollar store retailer Dollar General Corp. (NYSE:DG) are inching their way higher this morning, as the company relishes in yesterday morning's second-quarter earnings beat. No fewer than nine analysts have handed out fresh bull notes since yesterday's close. Giving the highest praise so far is a price-target hike to $1...Read More
The new Alchemist went out at the end of July. And making the choice from its articles is always hard. What gems can we learn from the latest publication of the LBMA? We invite you to read our today’s article and find out!Gordon’s Brown Bottom, 20 Years OnThe first article we would like to summarize for you is “Gordon’s Brown Bottom, 20 Years On” by Adrian Ash, Direct...Read More
Just a few weeks ago, silver naysayers told us we’d have to waitmonths, or even years, before the market made a big move. Now they are eatingtheir words! The white-hot metal surged past $18.50/oz this morning to reachits highest level in more than two years.Silver is up more than 13% in the month of August alone, a timewhen many precious metals analysts had expected summer doldrums. Even som...Read More