In this week's Insights, we look at what insiders are signalling about the market in wake of COVID19 and problems in the financial sector. We also discuss what probably needs to take place for markets to turnaround. Click here to read. Read More
DIS puts are popular todayAs the travel industry continues to struggle, Walt Disney Co (NYSE:DIS) is up 3.7% to trade at $95.27. Disney announced it will close its resorts in California, Florida, and Paris, France starting March 15th, 2020 until the end of the month in order to help prevent the spread of coronavirus. The cruise line is also suspending new departures until April. Three analysts hav...Read More
Oracle reported fiscal third-quarter earnings that beat analysts expectations but revenue that missed the markStumbling software name Oracle Corporation (NYSE:ORCL) is getting some respite today, following its fiscal third-quarter earnings report of 97 cents per share, which just beat analysts estimates. The $9.8 million in revenue also posted missed the mark, though the firm asserted that the co...Read More
Comcast stock is moving higher after a long-term drop on the chartsShares of telecommunications conglomerate Comcast Corporation (NASDAQ:CMCSA) are up 5%, last seen trading at $36.68. As coronavirus continues to ravage the global economy and cases of infection continue to increase in the U.S., public gatherings, events, and now theme parks, are being postponed or closing to limit the spread. Movin...Read More
We have released another INK Ultra Money Free video today in light of rising fear levels in the market. In the Friday INK morning report video summary, we take look at what insiders are signalling with their buying this week as stocks tumbled.What started off as a Coronavirus health crisis has morphed into a potential financial crisis. However, insider buying this week in the Financial sector sug...Read More
AAPL is leading the charge this morning after an upgradeDow Jones Industrial Average (DJI) futures are on the rebound this morning following yesterday's massive market crash -- the worst since the "Black Monday" crash of 1987 -- up over 1,000 points in electronic trading. Blue chip Apple (AAPL) is leading the charge, following an upgrade from Wells Fargo. Meanwhile, S&P 500 Index (SPX) futures j...Read More
"@KimbleCharting @TheArmenianDad So that's what a 25% total correction looks like on a log chart ? Hmmmmm. I see it's channel value,but I hope Trump doesn't see it ---- cuz you can be sure he'll retweet it until the correction ends."Read full newsRead More
Here are five Fastmarkets stories you might have missed on Thursday March 12 that are worth another look.Two more steel producers in Italy have stopped operations following the recent nationwide extension of the country's coronavirus-related quarantine area, and more stoppages were expected, sources told Fastmarkets on March 12.Ball Corporation is to acquire Tubex Industria E Comercio de Embalagen...Read More
The London Metal Exchange three-month price for nickel fell by more than 5% on Thursday March 12, a trading day that saw a 16,000-tonne rewarranting, with the price reaching a high of $12,495 per tonne then crashing to a low of $11,735 per tonne, before closing at $11,830 per tonne.Almost 13,700 nickel lots were traded over the day, which was marked by the rare rewarranting of more than 16,000 ton...Read More
The benchmark alumina price remained above $300 per tonne on Thursday March 12 but liquidity on a fob Australia basis remained low. Fastmarkets calculated the daily alumina index, fob Australia at $303.17 per tonne on Thursday, little changed from $304.63 per tonne the previous day. The index has been above $300 per tonne since February 27. Key drivers: Liquidity remains low but partici...Read More
Here are five Fastmarkets stories you might have missed on Thursday March 12 that are worth another look.Two more steel producers in Italy have stopped operations following the recent nationwide extension of the country's coronavirus-related quarantine area, and more stoppages were expected, sources told Fastmarkets on March 12.Ball Corporation is to acquire Tubex Industria E Comercio de Embalagen...Read More
The benchmark alumina price remained above $300 per tonne on Thursday March 12 but liquidity on a fob Australia basis remained low. Fastmarkets calculated the daily alumina index, fob Australia at $303.17 per tonne on Thursday, little changed from $304.63 per tonne the previous day. The index has been above $300 per tonne since February 27. Key drivers: Liquidity remains low but partici...Read More
Aurubis' copper refining facility in Belgium has to operate at 50% of its full capacity due to an earlier incident, diverting intermediate-product copper anodes to the spot market, Fastmarkets has learned.Last November, a transport crane collapsed in the electrolysis section of Aurubis' copper tankhouse in Olen, Belgium, which transforms anodes into cathodes of 99.995% copper content. The Ole...Read More
Noranda Income Fund (NIF) is assessing whether capital investments at its facilities could help improve its production capacity and profitability in light of a decline in the quality of global zinc concentrates.NIF, which owns the Canadian Electrolytic Zinc (CEZ) facility in the province of Quebec, said the decline in concentrates quality has been in terms of the zinc grade and the level of impuri...Read More
Here are five Fastmarkets stories you might have missed on Thursday March 12 that are worth another look.Two more steel producers in Italy have stopped operations following the recent nationwide extension of the country's coronavirus-related quarantine area, and more stoppages were expected, sources told Fastmarkets on March 12.Ball Corporation is to acquire Tubex Industria E Comercio de Embalagen...Read More
A substantial increase to air-freight costs from China into Europe and the US is weighing on negotiations for indium, germanium and gallium, which are usually shipped as air freight on commercial aircrafts, sources said."Since the coronavirus outbreak started, the cost of shipping by air has almost doubled for all air shipments," a Chinese germanium producer said.Air freight rates generally range...Read More
Turkish deep-sea scrap import prices have gone down in the latest deal for a Baltic Sea cargo, with steel producers still trying to cover their urgent needs with short-sea deals instead, sources said on Thursday March 12.A steel mill in the country was heard booking a Baltic Sea cargo from Poland at the beginning of the week at $273-273.50 per tonne cfr for HMS 1&2 (80:20). The cargo breakdown was...Read More
The Dow Jones Industrial Average Index (DJIA) closed down by 5.9% on Wednesday, and in the pre-market this morning, Thursday March 12, the DJIA futures are down by around 4.4% - such is the continued fear in the market. Base metals on the London Metal Exchange and on the Shanghai Futures Exchange were down across the board by an average of 1% and 1.7% respectively, as of 7:50am London time. A...Read More
The United Kingdom government revealed plans to invest over ?1 billion ($1.3 billion) on green transport, including ?500 million for electric vehicle (EV) charging infrastructure over the next five years, in its 2020 budget announcement on Wednesday March 11.During the budget presentation, UK chancellor Rishi Sunak committed to make it cheaper to buy low emission vehicles and cutting taxes on cl...Read More
Here are five Fastmarkets stories you might have missed on Thursday March 12 that are worth another look.Two more steel producers in Italy have stopped operations following the recent nationwide extension of the country's coronavirus-related quarantine area, and more stoppages were expected, sources told Fastmarkets on March 12.Ball Corporation is to acquire Tubex Industria E Comercio de Embalagen...Read More