The Dow, S&P and Nasdaq are all eyeing their biggest slides since October The Dow Jones Industrial Average (DJI) is continuing its steep slide today, giving up over 400 points at the midway mark as the quickly spreading coronavirus continues to dominate traders' attention. Should these losses hold, the blue-chip index could be on pace for its biggest one-day drop since early October. The S&P 500...Read More
In our latest Insights newsletter, we focus on the crude inflation challenge facing the Federal Reserve which is set to release its next policy statement on Wednesday January 29th. Our feature video of the week is a contrarian idea that could potentially gain traction with investors in a downturn and our insider of the week has an out-of-consensus view on Canadian natural gas. Read our latest her...Read More
Susquehanna upped its price target on AMD to $50 from $45 Advanced Micro Devices, Inc. (NASDAQ:AMD) is struggling to capitalize on a bull note from Susquehanna today. The analyst lifted its price target to $50 from $45, just one session after the equity hit an all-time high of $52.81. Despite this AMD is down 4.1% to trade at $48.29 this morning, pacing for its first close below its 20-day moving...Read More
SBUX's 40-day moving average has stepped up as support todayThe shares of Starbucks Corporation (NASDAQ:SBUX) are down 3.9% to trade at $88.38 this morning. The coffee chain joined restaurant stocks Yum China (YUMC) and McDonald's (MCD) in closing its stores in Wuhan, China in fear of the rapidly spreading coronavirus. Even with today's pullback looming, Starbucks stock looks to be hanging on t...Read More
CHWY has struggled on the charts over the past six monthsOnline pet food supplier Chewy Inc (NYSE:CHWY) is pointed lower this morning, last seen down 1% at $28.20 before the bell despite a fresh analyst bull note. Wedbush upgraded the equity to "outperform" from "neutral" and hiked its price target to $35 from $30. The revised price target represents a 23% upside to Friday's close of $28.47, and...Read More
Coronavirus headwinds are set to hammer stocksThe U.S. stock market is pacing for substantial losses this morning as the coronavirus outbreak worsens. With the death toll from the virus rising to more than 80 in China and a fifth confirmed case in the U.S., traders are taking a risk-off approach this morning, sending Dow Jones Industrial Average (DJI) futures more than 400 points below fair value....Read More
January options expiration could also increase the chances for a volatility popA general area that could act as a speed bump on $SPX is 3,335, which is 5 x's '09 low at 666.79. Double the low was a year-long challenge in '11-'12 and there was major sideways movement for months around triple the low in '14-'15- Todd Salamone (@toddsalamone) January 24, 2020While Friday's trading may prove pivotal a...Read More
* Nickel slides to 6-1/2 month low * Copper drops for nine consecutive sessions (Updates with closing prices)By Eric OnstadLONDON, Jan 27 (Reuters) - Copper fell for a ninthconsecutive session on Monday, the longest losing streak in sixyears, as investors worried that a spreading coronavirusoutbreak in China would hit demand in the world's biggest metalsconsumer.Copper tumbled to its weakest in th...Read More
* Nickel slides to 6-1/2 month low * Copper drops for nine consecutive sessions (Updates with closing prices) By Eric Onstad LONDON, Jan 27 (Reuters) - Copper fell for a ninthconsecutive session on Monday, the longest losing streak in sixyears, as investors worried that a spreading coronavirusoutbreak in China would hit demand in the world's biggest metalsconsumer. Copper tumbled to its weakest in...Read More
Montr?(C)al, QC - Siyata Mobile Inc. (TSX-V:SIM | OTCQX: SYATF) (the "Company" or "Siyata") is pleased to announce a $1.1M CDN purchase order for the Uniden (R) UV350 in-vehicle IoT device, has been received from a major US cellular B2B distributor servicing cellular carriers, first responders and commercial fleets across the United States. Marc Seelenfreund, CEO of Siyata Mobile, comment...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 red-hot Index fought hard to break free and clear of 1200 and initially hit an intraday high of 1211.42. However, the INK CIN could not maintain its torrid pace and pulled back into the end of the week, closing at 1198.59 for a loss of 6.33 points or 0.5%.MACD slipped 0.41...Read More
"yearly resistance on our thread for 2020 has been 1588-1630-- Tonight gold has touched 1588 on the OPEN with China closed for the week.NY and London is in charge and the banks are short.As you can see, their already at work.Keep your eyes on 1588 this week."Read full newsRead More
Here are five Fastmarkets MB stories you might have missed on Friday January 24 that are worth another look.Chinese steelmaker Hebei Jingye Group has moved a step closer to acquiring British Steel following an agreement made with the trade unions that could result in 500 job losses.Copper scrap buyers in the United States are concerned that an increase in US exports to China could pressure di...Read More
"I never buy at the bottom and I always sell too soon." Baron Nathan Rothchild, his success formula. London financier; 1777-1836 "Doubt is the father of invention." Galileo Galilei, Italian astronomer, physicist, engineer; 1564-1642 "Financial markets will find and exploit hidden flaws, particularly untested new innovations and do so at a time that will inflict the most damage to the most peop...Read More
- Hubert MoolmanGold stocks are often cited as recession proof stocks. Although this has not always been true, they do tend to rise when the economy is in a recessions and/or when the general stock market is in decline or showing relatively little gains.Below, is a long-term chart of the Dow:click charts to enlargeI have indicated significant gold stocks rallies with blue rectangles. As you ca...Read More
Hedonic FantasiesMeaningless AveragesDesperate IdeasInflation May Not Be the Most Important StatisticPhiladelphia, Dallas, and New YorkThe human brain excels at taking shortcuts. Processing all the information our senses collect takes a lot of energy, so repetitive data gets lower priority. Things we see often fade into the background so we can notice new stuff.This is where we get phenomena lik...Read More
Legendary geopolitical and financial analyst Martin Armstrong says, "The central banks are losing power. That's what my new book "Manipulating the World Economy" is all about. It's about all the manipulations. Governments have tried to control it, and they are losing it on every possible level. This is like the last ditch effort, the last hurrah or last battle for the central banks. If the Fed los...Read More
Martin's new book (currently sold-out): Manipulating the World EconomyInterest rates across the developed world have been at historic lows in the wake of the financial crisis, but Martin Armstrong believes the Fed's actions are less effective in the face of actions from the free market. In addition, North American equity markets have been making new record highs to start the decade, but Martin bel...Read More
"...cutting rates to zero to try to address a liquidity problem through repo may actually make the problem worse."Luke Gromen is a graduate of the University of Cincinnati and received his MBA from Case Western Reserve University. He earned the CFA designation in 2003. Luke provides strategic consulting services for corporate executives and is the founder of The Forest For The Trees, LLC, a macro...Read More
"Epstein was hiding in plain sight. We all knew about him. We all knew what he was doing, but we had no one that was - no legal aspect that would go after him. They were afraid of him. For whatever reason, they were afraid of him."Continue...Read More