StrengthsThe best performing metal this week was gold, down 3.51 percent. As of Wednesday, gold-backed ETFs saw 25 consecutive days of inflows and rose to the highest level ever of 2,624.7 tons. Bloomberg reports that after rising 18 percent last year, gold extended its rally into 2020. Turkey's gold reserves rose $1.1 billion from the previous week to now total $29.7 billion as of February 21...Read More
By Ira EpsteinGold update, key technical supports and what to come from the corona virus:Read More
All three indexes turned in losses of 2% or moreStocks were trounced once again today, even after the emergency efforts from the Federal Reserve. Despite a triple-digit surge out of the gate this morning, the Dow finished 786 points lower, exacerbating its losses after the central bank cut interest rates by half a percentage point in an effort to aid slower economic growth amid the coronavirus out...Read More
Taking a look at Wall Street's reaction to the M&A buzz surrounding Forty SevenDrugmaker Forty Seven Inc (NASDAQ:FTSV) hit yet another all-time high of $94.68 today, and was last seen up 0.3% at $94.22. This comes just one day after its impressive 61% surge during yesterday's trading -- sparked by news that Gilead Sciences (GILD) agreed to purchase the company for $4.9 billion, or $95.50 per share...Read More
Some traders might be betting on more downside in the coming weeksTwo straight weeks in this space we've looked at individual stock charts, but the chaotic market conditions recently have made it fairly difficult to "pinpoint" any real trends among many individual equities or exchange-traded funds (ETF). Instead it may be more helpful to take a broader view of the trading activity we've seen, incl...Read More
The Fed's surprise rate cut comes in the wake of economic coronavirus headwindsThe Dow Jones Industrial Average (DJI) is off over 555 points midday, as Wall Street digests the Fed's decision to make an emergency rate cut by half a percentage point, to ease the impact of coronavirus-related economic headwinds. This news is devastating the financial sector, with some investors initially pricing in a...Read More
A brutal quarterly report loss caused Tilray's stock to plunge furtherTilray Inc (NASDAQ:TLRY) reported its earnings last night and its shares seem to be in for a dismal day as a result. The cannabis supplier reported a fourth-quarter loss of $1.02 per share, much steeper than the estimated loss of 35 cents. TLRY's reported revenue of $46.94 million also arrived much lower than anticipated $55.38...Read More
INO is nearing its Jan. 27 annual highAs coronavirus panic grips the world, there's a scramble among drug companies to develop a vaccine as soon as possible. One such name is Inovio Pharmaceuticals Inc (NASDAQ:INO). After biotech accelerated its coronavirus vaccine development, INO's stock is up 19.2% to trade at $5.23 this morning. The company plans on starting human trials by April in the U.S.,...Read More
TGT is down 16.5% year-to-dateTarget Crop (NYSE:TGT) has been in sell-off mode since last week's broad-market pullback. Shares of the retail giant are continuing the trend today, down 2% at $106.88, after battling the falling demand for toys and electronics. This, paired with competition the brick-and-mortar retailer is facing amid a consumer-base that leans toward e-commerce, pushed the company t...Read More
Thermo Fisher just agreed to buy Qiagen in a $11.5 billion deal The shares of German-based biotech name Qiagen NV (NYSE:QGEN) are soaring this morning, up 15.6% to trade at $41.75 after Thermo Fisher Scientific (TMO) agreed to buy the genetic testing company for $11.5 billion in order to strengthen its health diagnostic business. Evercore ISI added that "the assets will fit well together and make...Read More
The blue-chip index is signaling triple-digit gains going into todayDow Jones Industrial Average (DJI) futures are higher despite a less-than-assuring statement from the Group of Seven industrial powers this morning. The G-7 confirmed they were committed to using "all appropriate policy tools to achieve strong, sustainable growth," to assuage coronavirus concerns, but then left investors scratchin...Read More
Jack ChanPosted Mar 2, 2020Gold sector as represented by $HUI is on a long-term BUY signal.Long-term signals can last for months and are more suitable for investors.Short-term is on SELL signal. Short-term signals can last for days and weeks and are more suitable for traders.Speculation on gold is at a new high, but what's more important is, a new speculative bottom is now established. That will h...Read More
Robert WutscherThe Unseasoned EconomistPosted Mar 2, 2020On money neutrality and the phenomenon of forced saving - how wealth is surreptitiously transferred from consumers to capital owners.In this third article to this series on inequality, we will see how, by targeting the CPI that ignores productivity-induced price deflation, savings are surreptitiously taken from consumers and handed over to c...Read More
Global markets continue to grapple with the ongoing outbreak of the Coronavirus. Nouriel Roubini, Professor of Economics at NYU Stern, joins Yahoo Finance to discuss.Nouriel Roubini, a professor at NYU's Stern School of Business and Chairman of Roubini Global Economics, was Senior Economist for International Affairs in the White House's Council of Economic Advisers during the Clinton Administratio...Read More
Bob Moriarty ArchivesMar 3, 2020As I write the ratio of silver to gold is about 96-1. It takes 96 ounces of silver to buy one ounce of gold. Asthe magnificent Steve Saville has just pointed out the ratio is within five percent of the highest it has ever been in history. Once in 1942 and again in 1993 when the ratio touched just over 100-1. I believe it will again.For thosewho have read my books,I...Read More
Stewart Thomsonemail: stewart@gracelandupdates.comemail: stewart@gracelandjuniors.comemail:admin@guswinger.comMarch 3, 2020“He will lose the election, that’s for sure...Ford lost to Carter after the 1973 oil shock, Carter lost to Reagan due to the second oil crisis in 1979, and Bush lost to Clinton after the Kuwait invasion. The Democratic field is poor, but Trump is dead.” - Leg...Read More
By: Peter Schiff, Chief Global Strategist of Euro Pacific CapitalWith the markets shell shocked by of the worst weeks on record, analysts are split on whether investors are simply overreacting to the coronavirus epidemic or if we are confronting an actual existential threat to the global economy. While most epidemiologists caution that the virus will be nearly impossible to contain, the good ne...Read More
Stewart Thomson, Graceland Updates 1. "He will lose the election, that's for sure...Ford lost to Carter after the 1973 oil shock, Carter lost to Reagan due to the second oil crisis in 1979, and Bush lost to Clinton after the Kuwait invasion. The Democratic field is poor, but Trump is dead." - Legendary economist Nouriel Roubini, March 2, 2020.2. Corona is the kind of crisis...Read More
StrengthsThe best performing metal this week was gold, down 3.51 percent. As of Wednesday, gold-backed ETFs saw 25 consecutive days of inflows and rose to the highest level ever of 2,624.7 tons. Bloomberg reports that after rising 18 percent last year, gold extended its rally into 2020. Turkey's gold reserves rose $1.1 billion from the previous week to now total $29.7 billion as of February 21...Read More
By Ira EpsteinGold update, key technical supports and what to come from the corona virus:Read More