Plans to expand rent control in California took the next step this week after Democratic Gov. Gavin Newsom announced his support for capping annual rent increases.Continue...Read More
Every day brings new indications that the financial world is going from already nuts to even nuttier. According to Bloomberg, the total amount of bonds outstanding globally that are trading with a negative yield exceed for the first time $15 trillion. This includes government and corporate debt, and also some euro junk bonds that have joined the elite group.The Fed was dabbling in trying to stop t...Read More
Overnight, Heng Feng Bank was bailed out (in a more unusual way than Baoshang Bank and Bank of Jinzhou) were bringing the total number of Chinese bank bailouts to 3 in just the last 3 months!Bailout #3: Chinese Bank With $200 Billion In Assets Is Nationalized https://www.zerohedge.com/news/2019-0...Jason Burack is an investor, entrepreneur, financial historian, Austrian School economist, and contr...Read More
One of the crucial insights in currency trading that many investors fail to grasp is that currencies don't go to zero, and they don't go through the roof. That's a generalizationContinue...Read More
The UK economy shrank by 0.2% between April and June. It won't stop there. Germany is also in contraction.Continue...Read More
"Clearly, they are manipulating their currency from a trade point of view...They're going to, and we're going to take strong action against them."Continue...Read More
Indian domestic prices for secondary steel billet have fallen by 500 rupees ($7) per tonne in the week ended Friday August 9, on account of reduced buying by finished product makers, Fastmarkets has heard.Prices of secondary billet, mainly produced using the induction furnace process, have weakened even although billet mills have reduced their production, according to an official from a billet mil...Read More
Ambulances covered in protective film transport six Russians who suffered severe radiation poisoning in mystery explosion during 'test of new hypersonic missile'Continue...Read More
China's rebar prices dropped sharply in both the domestic and export markets on Friday August 9 amid bearish sentiment among market participants. Domestic Eastern China (Shanghai): 3,650-3,680 yuan ($518-522) per tonne, down 120 yuan per tonneNorthern China (Beijing): 3,640-3,660 yuan per tonne, down 90-100 yuan per tonneHigh inventories, dropping raw material prices, and weakening deman...Read More
Key data from the pricing sessions in China, Europe and the United States for the week ending Friday August 9. China UG2 chrome ore prices ticked down, breaking a four-week rally, after depreciation of the yuan against the dollar raised the cost of importing material. The charge chrome market was stable for the sixth consecutive week amid limited activity. ...Read More
Domestic European transaction prices for stainless-steel flat products were expected to increase in late August, when market activity revives after the seasonal slowdown, sources told Fastmarkets on Friday August 9.The price increase was expected to be driven by rising nickel prices. The price of nickel, 3 months, London Metal Exchange Daily Official, was $15,675-15,680 per tonne on August 9, up f...Read More
We are not saying that gold and some gold stocks have notperformed well particularly after 2013-2014. Many gold stocks have put in outstandingperformances while many of the so called experts in the investment world missedthem. Note well that the major American brokerage industry willnot and has proven incapable of ever offering timely and accurate advice forgold and gold stocks. Generally speaki...Read More
Reduced volumes of Chinese-produced steel have been going into the country's export markets throughout 2019 so far. So why is it that steel product prices remain under pressure in other global markets?According to China's General Administration of Customs, in July 2019 the East Asian country exported 5.57 million tonnes of steel, including both semi-finished and finished material. This was down ye...Read More
Stocks made another late-day push todayIt was another day of volatile trading on Wall Street. In fact, today's price action mirrored Thursday's, with stocks paring sharp losses in the final hours of trading. The Dow even flirted with positive territory late in the day, despite downbeat trade comments from President Donald Trump, though the tech-rich Nasdaq remained lower as chip stocks took a hit....Read More
Markets suffered their worst day of 2019 on MondayIt was a volatile week on Wall Street, with U.S.-China trade headlines sparking the whipsaw price action. The bulk of the action occurred to the downside, with stocks notching their worst day of the year on Monday after President Donald Trump labeled China a currency manipulator -- sparking a dramatic surge in the Cboe Volatility Index (VIX) that's...Read More
Both names announced strategic reviewsStocks are trading lower today on renewed U.S.-China trade tensions. Among individual names making notable moves are food delivery firm Waitr Holdings Inc (NASDAQ:WTRH) and Xerox spinoff Conduent Inc (NYSE:CNDT). Here's a quick look at what's moving the shares of WTRH and CNDT.Piper Jaffray Downgrades Waitr StockAfter being halted several times throughout the...Read More
Gold futures are climbing as investors rush to safe-haven assetsGold prices have been in focus lately, as investors flock to safe haven assets amid the latest Fed decision and escalating trade tensions with China, flirting with six-year highs in recent days. This is good timing for Barrick Gold Corp (NYSE:GOLD), with the gold miner set to report second-quarter earnings before the open Monday, Aug...Read More
Trump said he was "not ready to make a deal" with China The Dow Jones Industrial Average (DJI) is looking to end the wild trading week on a sour note, down more than 200 points at midday. President Donald Trump confirmed earlier reports that the U.S. is "not going to do business with Huawei," sending chip stocks into the red. In addition, the U.S. leader said he was "not ready to make a deal" wi...Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 350,55858,01349,905137,010461,335537,473569,253 Change from Prior Reporting Period 38,3441874,206-4,15432,20438,39636,597 Traders 23566765661312185 Small Speculators LongShortOpen Interest 62,84431,064600,317 -1,37742237,019 non reportable positionsChange...Read More
Steve St. Angelo, SRSrocco Report After six long years, the precious metals are finally setting up for BIG MOVES higher. Even though the gold price has increased significantly over the past two months, we haven't seen anything yet. Of course, gold has already enjoyed big moves in other currencies such as the British Pound where it has reached an all-time new high. However, we have to be a...Read More