Both names are trading near historically bullish trendlinesThe shares of Florida-based freight concern CSX Corporation (NASDAQ:CSX) have flexed some technical muscle since bouncing from $59 in late December -- a level that coincides with a bull gap from last April -- and has since added 28%, to trade at $74.83. And while CSX stock pulled back after its April 2 all-time peak of $77.15, a historical...Read More
Tarku Resources (TSXV:TKU)(theRead full newsRead More
There are more than a handful of things I can cite as leading indicators for the Gold price.Ratios such as Gold against the stock market and Gold against foreign currencies are generally good leading indicators. The gold stocks and Silver can function as leading indicators at times.The yield curve and bonds can also be leading indicators.But there is one thing I've never mentioned, nor written abo...Read More
Put options are popular again todayBanking giant Citigroup Inc (NYSE:C) is down 0.4% today, trading at $64.92. As the big bank gets set to follow its sector peers into the earnings confessional early next week, Citigroup stock is flashing a bearish alarm on the charts. Since bottoming at $48.42 on Dec. 26, Citigroup stock has fought back to add 34%. However, 2019 gains have been contained by the...Read More
The FOMC meeting minutes will be released later todayThe Dow Jones Industrial Average (DJI) has traded on both sides of breakeven today, but was last seen lower, as traders await the Fed's March meeting minutes. The S&P 500 Index (SPX) and Nasdaq Composite(IXIC), on the other hand, are both in the black at midday, as investors cheer strong first-quarter earnings and guidance from Delta Air Line...Read More
Zimbabwe has signed an agreement with Russia to build a new platinum mine in the southern African country, finalizing a deal that's stalled since 2014.A deal to develop a new platinum-group metals mine on a prospect held by Great Dyke Investment, a company jointly owned by a Russian state-controlled company and Zimbabwe's government has been sealed, Polite Kambamura, the nation's deputy mines mini...Read More
Volkswagen AG is exploring purchasing a big stake in its Chinese electric vehicl...Read full newsRead More
Barrick Gold Corp. could find itself partially liable for $600 million in additional debt, if some Newmont Mining Corp. bondholders have their way.The creditors are trying to block an amendment Newmont is seeking for a large tranche of notes associated with its operations in Nevada, according to people with knowledge of the matter. The change would prevent liability for those bonds from shifting t...Read More
A bipartisan group of senators introduced legislation Wednesday that would extend a lucrative tax credit for electric vehicles that could benefit companies like Tesla Inc. and General Motors Co.The chances of the Senate extending the electric vehicle tax credit, which President Donald Trump proposed rescinding in his most recent budget request, aren't great, according to analysts."Prospects aren't...Read More
A bipartisan group of senators introduced legislation Wednesday that would extend a lucrative tax credit for electric vehicles that could benefit companies like Tesla Inc. and General Motors Co.The chances of the Senate extending the electric vehicle tax credit, which President Donald Trump proposed rescinding in his most recent budget request, aren't great, according to analysts."Prospects aren't...Read More
Codelco and other copper mining giants are set to plow billions of dollars into the revitalization of Chile's mines, but that may not be enough to keep the country from losing ground to competitors elsewhere in the world.Demand for copper is widely expected to take off by the mid-2020s amid a boom in electric vehicle production, but Chile is saddled with mines facing crippling declines in ore grad...Read More
Growing demand for smart thermostats, wind turbines and other high-tech devices is expected to keep copper the dominant material used in electrical components, industry players said, offsetting rising use of aluminum, a cheaper alternative to conduct electricity.That bodes well for the likes of Chilean producer Codelco, Rio Tinto Plc and other major copper miners, who are investing billions of dol...Read More
Growing demand for smart thermostats, wind turbines and other high-tech devices is expected to keep copper the dominant material used in electrical components, industry players said, offsetting rising use of aluminum, a cheaper alternative to conduct electricity.That bodes well for the likes of Chilean producer Codelco, Rio Tinto Plc and other major copper miners, who are investing billions of dol...Read More
The shares are approaching a historically bearish trendlineThe shares of homebuilder KB Home (NYSE:KBH) are higher today, thanks to some upbeat analyst attention. Specifically, J.P. Morgan Securities upgraded KBH to "neutral" from "underperform," and lifted its price target on the stock to $23 from $20.50, citing "a more stable demand backdrop following the continued decline of rates." However, KB...Read More
Oil prices jumped to five-month highs this week, pushed higher by a bullish cocktail of supply outages, geopolitical unrest and a sputtering shale sector.The most recent factor is the sudden eruption of the long simmering feud in Libya between rival factions. The attack on Tripoli by the Libyan National Army (LNA), a militia led by Khalifa Haftar, led to a spike in oil prices on Monday as the mark...Read More
McEwen Mining reported its first quarter results on April 9, along with the news that it is considering the sale of its Mexican assets. The net proceeds would be used to advance other development projects and retire a portion of the company's debt.The El Gallo heap leach complex in Sinaloa state produced 5,413 oz. of gold in Q1 2019. Gold is recovered from residual leaching of the heap. The proces...Read More
McEwen Mining reported its first quarter results on April 9, along with the news that it is considering the sale of its Mexican assets. The net proceeds would be used to advance other development projects and retire a portion of the company's debt.The El Gallo heap leach complex in Sinaloa state produced 5,413 oz. of gold in Q1 2019. Gold is recovered from residual leaching of the heap. The proces...Read More
McEwen Mining reported its first quarter results on April 9, along with the news that it is considering the sale of its Mexican assets. The net proceeds would be used to advance other development projects and retire a portion of the company's debt.The El Gallo heap leach complex in Sinaloa state produced 5,413 oz. of gold in Q1 2019. Gold is recovered from residual leaching of the heap. The proces...Read More
Gold's safety demand has revived thanks to latest economic fears.IMF global growth forecast, China demand are boosting gold price.Gold is inches away from a renewed immediate-term breakout signal. Just when it appeared that gold's 7-month recovery was dead, the yellow metal has roared back to life. A failed attempt by the bears at raiding the market has given way to a renewed rally attempt as...Read More
AAPL stock was downgraded at HSBC Yesterday, Apple Inc. (NASDAQ:AAPL) stock closed down 0.3%, falling short of its longest daily win streak since 2010. Today, the FAANG stock is lower once again, down 0.5% to trade at $198.53, thanks to a bearish analyst note.Specifically, HSBC downgraded the stock to "reduce" from "hold," with the brokerage firm saying it doesn't expect the new slate of Apple ser...Read More