HYG has pulled back to a notable trendlineWe've been gauging the recent pullback in stocks that's come mostly at the hands of the coronavirus outbreak. The Dow Jones Industrial Average (DJI) is pacing for a nearly 200-point drop today, eyeing a second straight weekly loss, but from one perspective this pullback could be an entry point for bulls.For instance,Schaeffer's Senior Options Strategist Br...Read More
The stock has been in cool-down mode since hitting fresh highs earlier this month Makeup manufacturer Estee Lauder Companies Inc (NYSE:EL) has been in cool-down mode since hitting an all-time peak just north of the $220 region on Jan. 17, thanks in part to a post-earnings bear gap that left the equity trading right below the $200 level. Fortunately for EL, though, familiar support at the 160-day m...Read More
A new report by McKinsey found30 to 50% of production of three top commodities is concentrated in areas where water stress is already high.Read full newsRead More
Oil prices are also suffering heavy lossesThe Dow Jones Industrial Average (DJI) continues to move lower today, as coronavirus headwinds linger on Wall Street. A number of big-name earnings releases remain in focus, too, including Facebook's (FB), which has the social media giant as one of the worst S&P 500 Index (SPX) stocks on the day. Meanwhile, oil prices are falling alongside equities, with...Read More
The ride share company laid off 90 employees in an effort to achieve profitability by 2021Ride share giant Lyft Inc (NASDAQ:LYFT) announced last evening that it will be laying off 90 employees -- about 2% of its workforce -- in an effort to restructure some of their sales and marketing teams and achieve profitability by next year. The stock is struggling for direction this morning, up 0.3% at $46....Read More
KO is enjoying the aftermath of its knock-out earnings reportBeverage powerhouse and Dow stock Coca-Cola Co (NYSE:KO) is enjoying a nice 2.9% post-earnings lift this morning, last seen trading neara fresh record high of $58.63. The company reported a better-than-expected fourth-quarter earnings and revenue beat, as well as topline growth after an increase in demand for its signature brand and Fuz...Read More
Traders were buying LRCX puts before the eventThe broader stock market is under pressure today, but the shares of semiconductor processing equipment specialist Lam Research Corporation (NASDAQ:LRCX) are outperforming in a big way thanks to the company's earnings release last evening. LRCX stock is trading 6.7% higher at $318.41, already tapping a fresh record peak of $319, thanks to an earnings b...Read More
Post lunar new year trading in iron ore resumes as coronavirus cases surpass 2002 SARS outbreak.Read full newsRead More
Earnings and coronavirus news are in focusDow Jones Industrial Average (DJI) futures are trading below fair value this morning despite a mostly strong round of corporate earnings, with blue chips Microsoft (MSFT) and Coca-Cola (KO) headlining the winners with their pre-market gains. On the bearish side, traders are monitoring a sharp post-earnings pullback in Facebook (FB) shares, while fellow tec...Read More
Verizon posted a profit miss Blue chip name and mobile provider Verizon Communications Inc. (NYSE:VZ) is set to slide lower today, down 1.3% before the open after stepping into the earnings confessional with mixed results. Specifically, the firm reported fourth-quarter revenue of $34.7 billion --which exceeded analysts' expectations -- and better-than-expected subscriber growth. However, its adjus...Read More
Disney will enter the earnings confessional on Tuesday Next week will check off another week of earnings season, with even more big names on the docket. Most notably will be blue chip and streaming service newcomer Walt Disney (DIS), while several big tech names including Alphabet (GOOG), Spotify (SPOT), Snap (SNAP), Uber (UBER), and Pinterest (PINS) will also undoubtedly be in the spotlight. On t...Read More
The spot markets for tin were quiet in the United States and Europe in the week ended Tuesday January 28, and especially in Asia, because of the holiday for the lunar new year which began on January 25 and has been extended into February because of the outbreak of a coronavirus infection in China.London Metal Exchange tin price falls sharply on coronavirus concerns in Asia, where markets are close...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday January 29.Please click...Read More
The three-month price of lead on the London Metal Exchange stood out as the most notable underperformer at the close of trading on Wednesday January 29, selling off more than 3% of its outright price to close at its lowest level since June 2019, while copper continued to struggle over the afternoon.Lead's underlying price on the LME closed at $1,832 per tonne on Wednesday afternoon, falling from a...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday January 29.Key drivers The price range for ferro-titanium has widened over the past week with slower trading activity resulting in lower-priced deals done in Europe, while UK trading was done at around the top end of the range. The move marked the first change in the alloy price range since December 18, although the scrap markets ha...Read More
At a press conference following the Federal Open Market Committee's two-day meeting, chairman Jerome Powell said some of the uncertainties around trade were diminishing and there were some signs global growth may be stabilising."Nonetheless, uncertainties about the outlook remain, including those posed by the new coronavirus," he said.Most key market indices had closed slightly higher yesterday bu...Read More
The outbreak of a coronavirus has led to the prolonged closure of Chinese businesses, triggering delays in logistical operations with copper market participants looking to ship cathodes and concentrates into the country.Traders and producers with shipments set to arrive in China in the first two weeks of February reported potential delays as well as difficulty in getting guarantees that letters of...Read More
An overview of the minor metals markets and their latest price moves.Read More
Due to the enforced extension of China's Lunar New Year holidays, Fastmarkets will roll over the following minor metals, ores and alloys price assessments on Friday January 31.MB-BI-0002 - Bismuth 99.99% Bi min, in-whs China, yuan/tonneMB-CO-0001 - Cobalt 99.8% Co min, ex-works China, yuan/tonneMB-CO-0017 - Cobalt sulfate 20.5% Co basis, exw China, yuan/tonneMB-CO-0012 - Cobalt tetroxide 72.6% Co...Read More
Turkish deep-sea scrap import prices declined sharply once again, following the fresh United States' cargo deal heard on Wednesday January 29.A steel mill in the Marmara region booked a cargo of 30,000 tonnes of HMS 1&2 (90:10) at $275 per tonne cfr, Fastmarkets was told. This would put the HMS 1&2 (80:20) price at $272 per tonne cfr, several market sources said. The US cargo was compared with the...Read More