Sector expert Michael Ballanger muses on how the baby boom generation has impacted markets through time, and discusses how he will play the current precious metals bull."Destroyers seize gold and leave to its owners a counterfeit pile of paper." —Ayn RandThe baby-boom generation, of which I am a less-than-proud member, blew it.There was a time long, long ago when the mention of the words "ba...Read More
The rise in Chinese ferro-vanadium prices continued to be the principal driver for the European market in the week ended Friday July 26, pushing prices above $30 per kg. Chinese, European ferro-vanadium prices continue to climb on improved sentiment V2O5 price in China moves up 3.1% amid tightness, but Europe lags behind US prices unchanged on quiet spot market.Despite the lack of transactions, th...Read More
Bob Moriarty of 321Gold profiles a precious metals ETF that has "absolutely obliterated its main competition." The U.S. Global GO GOLD and Precious Metal Miners ETF (NYSE: GOAU) just had its two-year anniversary at the end of June, and since inception, the fund has absolutely obliterated its main competition.GOAU delivered a remarkable 41% since inception through July 24, crushing the hu...Read More
Prices for UG2 chrome ore in China rose strongly for the second consecutive week over the seven days ended Friday July 26, but weak profitability for smelters raised questions about the durability of this recovery. UG2 ore market in China increases by $7 per tonne Domestic spot alloy price rises in China, imported alloy stable High carbon alloy prices in Europe, US stableThe chrome ore price conti...Read More
Everyone is discussing recession right now. But howmuch do they actually chatter about it? Does this talk reflect or changepeople’s perception? And the key question is: can the world-related indices predict the recession? Are theyuseful for the precious metals investors?It turns out that yes! At least to some extent.Let’s start with the R-word index createdby The Economist. Itcounts ho...Read More
The monthly European alloy steel surcharges for August have increased from the levels for July following a recent surge in nickel prices, Fastmarkets heard on Monday July 29.Fsatmarkets' stainless steel cold-rolled sheet, 2mm grade 304 alloy surcharge, domestic, Europe, is likely to rise to ?,?1,337-1,382 ($1,487-1,537) per tonne for August, according to data released by Outokumpu, Acerinox and Ap...Read More
OKTA nabbed a record high earlier today before pulling backEarlier today, Okta Inc (NASDAQ:OKTA) nabbed a fresh record high of $141.85. However, the stock has since pivoted lower, at last check down 6.1% to trade at $132.18, on track for its worst day since March 4. There's reason to believe investors shouldn't fret much about the software stock's sudden downturn though, if history is any guide....Read More
Norsk Hydro learned some important lessons from its experiences following heavy rainfall at its Alunorte refinery in Brazil, particularly the need to improve community relations, chief executive officer Hilde Merete Aasheim said. Alunorte has been a "very difficult situation" for Hydro for the past 18 months, she told Fastmarkets during an interview in New YorkHeavy rainfall in Par?? in February l...Read More
Plus, 24 more stocks that rallied after a Fed rate cutApple Inc. (NASDAQ:AAPL) shares are higher today, in territory not charted since their May highs, as traders gear up for the iPhone maker's highly anticipated earnings report, slated for release after the close tomorrow. What's more, AAPL stock should be on your radar for two more reasons this week:it was one of the best stocks to own after the...Read More
August is typically an excellent month for NVDANvidia Corporation (NASDAQ:NVDA) is trying to break out, recently taking out its 200-day moving average and now could be set to test the $180-$190 region that's home to the shares' April highs and a bear gap from last November. Just going by seasonal data, it may be wise to think NVDA stock could keep pushing higher in the short term. For instance, th...Read More
Here are five Fastmarkets MB stories you might have missed on Monday July 29 that are worth another look.The Peruvian federal government is drafting a new mining code to ensure legal certainty and social responsibility in the development of projects in the country, national president Mart?-n Vizcarra said on Sunday July 28 during the country's independence day festivities. The announcement wa...Read More
GILD is clinging to a 6% year-to-date leadShares of drugmaker Gilead Sciences, Inc. (NASDAQ:GILD) are up 1.5% in pre-market trading, after the stock received an upgrade to "top pick" from "outperform" out of RBC. The brokerage firm cited new leadership as one reason for its bullish view on GILD stock. Overall, analysts have been extremely optimistic toward the security, with 14 of 19 covering fir...Read More
The September 30 call has seen a notable increase in open interestAthletic apparel retailer Under Armour Inc (NYSE:UAA) is trading slightly lower today at $27.12, as options traders gear up for the company's upcoming second-quarter earnings report. Set to debut before the open tomorrow, Tuesday, July 30, the report comes on the heels of UAA's recent multi-month climb up the charts. The retail stoc...Read More
U.S.-China trade talks are set to resume tomorrowThe Dow Jones Industrial Average (DJI) is modestly higher at midday, as Wall Street gears up for Wednesday's Fed decision and another week of corporate earnings. While the blue-chip index clings to gains, the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are firmly in the red, pulling back from Friday's record highs as tech stocks take a hit. A...Read More
- Clint SiegnerFirst, a bank's commodities trading department takes metals investors for a ride like unwitting victims in the back of Jeffrey Epstein's "Lolita Express."Now federal prosecutors have extended the same sort of cozy non-prosecution agreement to shield the bank itself from a criminal indictment.Federal prosecutors signed a non-prosecution agreement in June with Merrill Lynch Comm...Read More
StrengthsThe best performing metal this week was platinum, up 2.24 percent on hedge funds cutting short positions and flipped the futures composite to a net long. Gold traders and analysts in the weekly Bloomberg survey are split between a bullish and a neutral outlook on the yellow metal ahead of the Fed's meeting next week. Gold gained on Thursday after the European Central Bank (ECB) signaled...Read More
Keith Weiner, Monetary MetalsWe have spilled many electrons on the topic of capital consumption. Still, this is a very abstract topic and we think many people still struggle to picture what it means. Thus, the inspiration for this week's essay.Enterprise Car ServiceSuppose a young man, Early Enterprise, inherits a car from his grandfather. Early decides to drive for Uber to earn a living. Being...Read More
By: Gary Savagehttp://blog.smartmoneytrackerpremium.com/Read More
Evercore ISI upgraded NXP Semiconductors to "outperform" from "in line"Dutch tech name NXP Semiconductors N.V. (NASDAQ:NXPI) is getting a boost today, after Evercore ISI upgraded the stock to "outperform" from "in line," and raised its price target to $125 from $110. Evercore's bull note touched on the firm's second-quarter earnings, which are slated for release after the close tonight, with the...Read More
EA stock is lower today on a fresh bear noteElectronic Arts Inc. (NASDAQ:EA) breached its 200-day moving average earlier this month, as concerns over the video game maker's "Apex Legends" update sent the shares spiraling 4.6%. EA stock has only extended this slide -- down 2% today at $87.76, after a price-target cut to $96 from $102 at MKM Partners -- and the options market is bracing for even mor...Read More