The hospitality giant is adding Luxor, Mandalay Bay, Four Seasons Las Vegas and ARIA to the list of open resortsThe shares of MGM Resorts International (NYSE: MGM) are down 4.5% at $21.04 this morning, after the hospitality giant announced it would open more resorts by July 1, including Luxor, Mandalay Bay, Four Seasons Las Vegas, and ARIA. Guests will be able to enjoy the pool areas and fine din...Read More
GameStop's first-quarter profits and revenue were worse than Wall Street expectedThe shares of GameStop Corp. (NYSE:GME) are exploring both sides of the breakeven this morning, last seen up 1% at $5.04, after reporting first-quarter losses of $1.61 on revenue of $1.02 billion -- both of which were well below Wall Street's estimates. Additionally, the video game retailer saw same-store sales fall...Read More
Best Buy will bring back over 9,000 of its workers who were furloughed in mid-AprilTech retailer Best Buy Co Inc (NYSE:BBY) announced last night that starting June 15, customers will be able to shop in 800 of its locations without an appointment, though a limited number of people will now be let inside. The company also said it planned on bringing back over 9,000 of its employees who have been fur...Read More
Tech stocks are building on Tuesday blistering run higherFutures on the Dow Jones Industrial Average (DJI) are slowly climbing above fair value this morning, as investors await the Federal Reserve's update and subsequent press conference from Fed Chair Jerome Powell later this afternoon. S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) futures are also hovering in the black ahead of the open, with t...Read More
HighlightsLower Zone discovery: 10 meters of 3.9 g/t gold starting at 237 meters in FG-20-369 including:1.0 meter of 33.9 g/t at 239.0 metersHole FG-20-368 hit 10 meters of 0.8 g/t at 185 meters in same zoneNew Lower Zone thickness remains openUpper Zone intercept: 32.0 meters of 3.0 g/t gold starting at 22.0 meters in FG-20-369 including:1.0 meter of 42.5 g/t at 29.0 metersLarge diameter, o...Read More
Nasdaq returns are typically bullish after V-bottomsThis Monday, the Nasdaq Composite (IXIC) reached a new all-time high, completing the V-Bottom. Looking at the chart below, it is clear how the V-Bottom got its name - the sharp fall and quick recovery resembles a V on the chart. As I often do, this week I will be looking at past occurrences of V-Bottoms to see how it has performed going forward....Read More
Now every time 210,000 blocks are cleared, Vijay says, the value halves. So, after the first 210,000 blocks, it became 25 bitcoins; at 420,000 it became 12.5, and now at 6,30,000 it is 6.25.Read full newsRead More
Here are five Fastmarkets stories you might have missed on Tuesday June 9 that are worth another look.The future of the global long steel market remains uncertain because of both the impact of the covid-19 pandemic and rising protectionism, with no recovery expected in the third quarter of this year, the International Rebar Producers & Exporters Association (Irepas) said last week.Ferrous scrap pr...Read More
The main Japanese ports (MJP) premium edged down during the week to Tuesday June 9 on lower offers, while premiums in the rest of Asia, Europe and the United States maintained their levels on steady fundamentals.MJP premium weakens while third-quarter negotiations are under wayRotterdam premiums flat, supported by contangoUS Midwest premium unchanged in lackluster marketMJP premium pressured down...Read More
The LME three-month copper price was higher at the close on Tuesday June 9, breaching nearby resistance at $5,700 per tonne against strong turnover, while selling pressure saw nickel futures fail to finish above $13,000 per tonne. Copper's outright price on the London Metal Exchange closed at $5,774 per tonne on Tuesday afternoon, climbing from an intraday low of $5,676 per tonne, while turno...Read More
Here are five Fastmarkets stories you might have missed on Tuesday June 9 that are worth another look.The future of the global long steel market remains uncertain because of both the impact of the covid-19 pandemic and rising protectionism, with no recovery expected in the third quarter of this year, the International Rebar Producers & Exporters Association (Irepas) said last week.Ferrous scrap pr...Read More
Cobalt prices held close to levels last seen in August 2019 on Tuesday June 9, with buyers largely resisting spot market purchases.Fastmarkets' price assessments for cobalt standard grade, in-whs Rotterdam and cobalt alloy grade, in-whs Rotterdam were both unchanged at $14.60-15 per lb on June 9.Alloy grade and standard grade prices were down 18.2% and 14.2% respectively from March highs...Read More
Here are five Fastmarkets stories you might have missed on Tuesday June 9 that are worth another look.The future of the global long steel market remains uncertain because of both the impact of the covid-19 pandemic and rising protectionism, with no recovery expected in the third quarter of this year, the International Rebar Producers & Exporters Association (Irepas) said last week.Ferrous scrap pr...Read More
Turkish deep-sea scrap import prices continued to rise on Tuesday June 9, with mills continuing to book more cargoes for July, sources told Fastmarkets.A steel mill in the Iskenderun region booked a European cargo, comprising 10,000 tonnes of HMS 1&2 (75:25) and 30,000 tonnes of a mixture of shredded, plate & structural (P&S) and busheling at an average price of $265 per tonne cfr.The cargo w...Read More
Despite a mixed picture this morning, Tuesday June 9, generally strong uptrends are underway in most of the base metals. The exception is the infrastructure heavy-weight zinc, although the galvanizing metal is also widely used in the auto industry, which may be why it is lagging behind. Asian-Pacific equities are for the most part stronger this morning, led by a 2.53% gain in the Australian ASX 20...Read More
The cobalt standard grade, in-whs Rotterdam trade log, including business, bids and offers reported to Fastmarkets. Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it applies. Fastmarkets assessed cobalt standard grade, in-whs Rotterdam at $14.60-15 per lb on Tuesday June 9, 2020. Bid at $14.6...Read More
The cobalt alloy grade, in-whs Rotterdam trade log, including business, bids and offers reported to Fastmarkets. Fastmarkets publishes trade logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it applies. Fastmarkets assessed cobalt alloy grade, in-whs Rotterdam at $14.60-15 on Tuesday June 9, 2020. Prices indicated at $14.60...Read More
Cobalt prices held close to levels last seen in August 2019 on Tuesday June 9, with buyers largely resisting spot market purchases.Fastmarkets' price assessments for cobalt standard grade, in-whs Rotterdam and cobalt alloy grade, in-whs Rotterdam were both unchanged at $14.60-15 per lb on June 9.Alloy grade and standard grade prices were down 18.2% and 14.2% respectively from March highs...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.As we anticipated, rebar prices in Eastern China (ex-warehouse basis) rose in May, coming within 0.6% of our forecast. Strong demand at home meant that Chinese producers were largely absent from the export market, maintaining their offers near $450 per tonne, while import prices into Singapore were set near $400 per tonne cf...Read More
Domestic prices for hot-rolled coil in Europe were largely stable day on day on Tuesday June 9 even as demand remained slow, sources told Fastmarkets.Market participants believe that domestic prices are close to a bottom and that European mills could announce a rise in offer prices after the European authorities make a final decision in the safeguard review case at the end of this month.Fastmarket...Read More