Analysts were unsure of the equity coming into todayOne biotech in focus this afternoon is Adverum Biotechnologies Inc (NASDAQ:ADVM), the equity surging near the top of the Nasdaq Composite (IXIC) after revealing an upbeat, early stage trial data for its macular degeneration gene therapy drug. Specifically, the trial drug did not need "rescue injections" to control the disease. In response, ADVM...Read More
Coronavirus concerns step back as tech moves higherStocks are bringing in modest gains in afternoon trading, the Dow Jones Industrial Average (DJI) paring its early morning losses. A surge in Amazon.com (AMZN) shares has the Nasdaq Composite Index (IXIC) moving higher as well, while the S&P 500 Index (SPX) is following closely behind. Concerns regarding the lack of containment of fatal Corona...Read More
Put buying hasn't been relatively popular on GLD Gold-tracking exchange-traded fund (ETF) SPDR Gold Shares (GLD) is trading up 0.2% today at $148.15, as the coronavirus concerns push some investors to gold. In the meantime, options trading has picked up, with puts trading at six times the expected pace today.The most popular contracts by far are the April 135 and 140 puts, where more than 156,000...Read More
Calls are tremendously popular today, but have been for a whileThe shares of L Brands Inc (NYSE:LB) are up 4.3% to trade at $24.60 this morning, after CNBC reported the retailer was in talks with private equity firm Sycamore Partners about selling its Victoria's Secret brand. Although the specifics of the deal are unclear at the moment, an announcementcould come as soon as this week. L Brands s...Read More
QSR shares have moved past resistance from the 50-dayRestaurant Brands International (NYSE:QSR) is one stock on the rise this morning, thanks toa well-received earnings report. The company posted a top- and bottom-line beat, thanks mostly to strong chicken sandwich sales from Popeyes. The firm's CEO Joe Cil also told investors that the company plans to "invest behind our leadership in the fast-gro...Read More
Vancouver, BC - IsoEnergy Ltd. (TSX-V: ISO | OTCQX: ISENF) is pleased to report two new intersections of strong radioactivity in initial drill holes of the winter drilling program at the Hurricane zone. The Hurricane zone is a new discovery of high-grade uranium mineralization on the Company's 100% owned Larocque East property (the "Property") in the Eastern Athabasca Basin of Saskatchewan...Read More
Coronavirus concerns remain the top focus for investorsIt's shaping up to be a slow start to the trading day for U.S. stocks, with Dow Jones Industrial Average (DJI) futures trading below fair value this morning. Coronavirus fears continue to linger, hitting global markets overnight, and pressuring futures on the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX), as well. With earnings season slowing...Read More
Now is a good time to hedge stock positions after volatility decreased sharply "More volatility could be ahead, with the VIX closing the week (and the month) above the 18 area .... VIX technical pattern that stands out to me at present is similar to the early May through first half of July 2019 action - seen in the chart immediately below, in which a trendline connecting lower highs (similar to Au...Read More
Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. Last week, the INK CIN enjoyed a strong bounce from its lower Bollinger band at 1175 as it sailed 17.33 points or 1.4% higher to close at 1192.61.MACD rose 3.38 points to -0.79. RSI jumped 14.79 points or 39% to 52.81. We note that RSI did not go sub-30 as it has on past major bottoms. Wi...Read More
Here are five Fastmarkets MB stories you might have missed on Friday February 7 that are worth another look.Prices in Southeast Asia's steel billet market have tumbled last week amid speculation that Chinese billet importers could annul contracts on the grounds of virus-related force majeure.China has halved tariffs on a slew of US-sourced metals and minerals including copper cathodes and rare ear...Read More
What underlies the tremendous runup in the price of Palladium and now the giant spike in Tesla stock? They are connected. Tesla stock has spiked despite its self-driving cars doing strange things like running people over and spontaneously combusting. The reason for this is the relentless drive towards electric cars which will result in a massive increase in demand for palladium and electric car...Read More
By Robert LambourneSince May 2019 the Bank for International Settlements, which represents most central banks, has increased its use of gold swaps and other gold-related derivatives by more than 400 percent, from an estimated 78 tonnes to an estimated 320 tonnesThe BIS uses gold swaps and other gold derivatives to gain access to gold held by commercial banks. According to the bank's January 31 s...Read More
By: Ira EpsteinCoronavirus impact on supply chains coming? Bigger picture on the gold market: monthly uptrend is bullish, bias is up, momentum is still up. 18 month moving averages is still over the 100 month, another bullish sign.Read More
Viral ThreatNot Good EnoughOverwhelming StimulusBut What About Government Deficits?And Then There Is the Fed...Dallas and New YorkEconomists and investors are rightly obsessed with growth. We always want more of it. We worry it won't come or, worse, might turn into contraction. Economists of all stripes, from Paul Krugman to Lacy Hunt, recognize economic growth cures all manner of ills.Yet, exac...Read More
Here are five Fastmarkets MB stories you might have missed on Friday February 7 that are worth another look.Prices in Southeast Asia's steel billet market have tumbled last week amid speculation that Chinese billet importers could annul contracts on the grounds of virus-related force majeure.China has halved tariffs on a slew of US-sourced metals and minerals including copper cathodes and rare ear...Read More
YESTERDAY in GOLD, SILVER, PLATINUM and PALLADIUMBy Ed Steer08 February 2020 -- Saturday The gold price wandered around a few dollars either side of unchanged on Friday -- and that lasted until the job numbers hit the tape at 8:30 a.m. in New York. It rallied a bit from there, but obviously ran into 'something' a few minute after the 9:30 open of the equity markets. Once the 10 a.m. EST a...Read More
What underlies the tremendous runup in the price of Palladium and now the giant spike in Tesla stock? They are connected. Tesla stock has spiked despite its self-driving cars doing strange things like running people over and spontaneously combusting. The reason for this is the relentless drive towards electric cars which will result in a massive increase in demand for palladium and electric car...Read More
By Robert LambourneSince May 2019 the Bank for International Settlements, which represents most central banks, has increased its use of gold swaps and other gold-related derivatives by more than 400 percent, from an estimated 78 tonnes to an estimated 320 tonnesThe BIS uses gold swaps and other gold derivatives to gain access to gold held by commercial banks. According to the bank's January 31 s...Read More
By: Ira EpsteinCoronavirus impact on supply chains coming? Bigger picture on the gold market: monthly uptrend is bullish, bias is up, momentum is still up. 18 month moving averages is still over the 100 month, another bullish sign.Read More
Viral ThreatNot Good EnoughOverwhelming StimulusBut What About Government Deficits?And Then There Is the Fed...Dallas and New YorkEconomists and investors are rightly obsessed with growth. We always want more of it. We worry it won't come or, worse, might turn into contraction. Economists of all stripes, from Paul Krugman to Lacy Hunt, recognize economic growth cures all manner of ills.Yet, exac...Read More