Base Metal Stock Articles

Tech Talk for Monday May 9th 2022

09/05/2022 / Staff reporter

U.S. equity index futures were lower this morning. S&P 500 futures were down 70 points in pre-opening trade. Starbucks dropped $1.46 to $75.06 after Deutsche Bank lowered its target price from $116 to $103.Shopify fell $20.00 to US$357.49 after Wedbush dropped its target price from $630 to $538.Duke Energy slipped $1.16 to $110.16 after reporting lower than consensus first quarter earnings. Un...Read More

Tech Talk for Friday May 6th 2022

06/05/2022 / Staff reporter

U.S. equity index futures were lower this morning. S&P 500 futures were down 2 points in pre-opening trade. Index futures recovered slightly following release of the U.S. Employment report at 8:30 AM EDT. Non-farm Payrolls were expected to increase 400,000 versus a gain of 431,000 in March. Actual was 428,000. Unemployment Rate was expected to remain unchanged from March at 3.6%. Actual was un...Read More

Tech Talk for Thursday May 5th 2022

05/05/2022 / Staff reporter

U.S. equity index futures were lower this morning. S&P 500 futures were down 32 points at 7:30 AM EDT.First quarter Non-farm Productivity Report is expected to be released at 8:30 AM EDT. Consensus is a drop of 2.3% versus a gain of 6.6% in the fourth quarter of 2021.Etsy dropped $11.98 to $97.35 after the company offered weaker than consensus second quarter sales. Cognizant Technology fell $4...Read More

Tech Talk for Wednesday May 4th 2022

04/05/2022 / Staff reporter

U.S. equity index futures were higher this morning. S&P 500 futures were up 12 points in pre-opening trade. Index futures were virtually unchanged following release of the March Trade Deficit at 8:30 AM EDT. Consensus was $106.7 billion versus $89.20 billion in February. Actual was $109.8 billionThe Canadian Dollar was virtually unchanged at US78.04 cents following release of Canada's March Me...Read More

Tech Talk for Tuesday May 3rd 2022

03/05/2022 / Staff reporter

U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged in pre-opening trade. Avis advanced $19.44 to $300.00 after reporting a swing to a first quarter profit. Clorox dropped $2.98 to $140.30 after lowering earnings guidance.Expedia gained $2.69 to $177.50 after narrowing its first quarter loss.Devon Energy added $1.60 to $59.95 after announcing a dividend increase a...Read More

Tech Talk for Monday May 2nd 2022

02/05/2022 / Staff reporter

U.S. equity index futures were lower this morning. S&P 500 futures were down 9 points in pre-opening trade. Chevron slipped $0.28 to $156.39 after Truist lowered its target price from $186 to $181.Ford eased $0.05 to $14.11 after Benchmark lowered its target price from $29 to $25.Eli Lilly added $0.01 to 292.14 after Mizuho raised its target price from $315 to $356.Shopify dropped $1.82 to US$...Read More

LME base metals prices rise on Chinese stimulus promises, but overall still vulnerable

29 April 2022 / Staff reporter

Base metals prices on the London Metal Exchange edged up across the board on the morning of Friday April 29, as were most on the Shanghai Futures Exchange, with the exception of aluminium.* The slide in China’s renminbi yuan continues* China’s Politburo promises macroeconomic support for the economy* Apple warns of a hit from supply headwinds* US economy contracts 1.4% in the first quart...Read More

Tech Talk for Friday April 29th 2022

29/04/2022 / Staff reporter

U.S. Index futures were lower this morning. S&P 500 futures were down 43 points in pre-opening trade. Index futures moved slightly lower following release of March Personal Income and Personal Spending at 8:30 AM EDT. Consensus for Income was an increase of 0.4% versus a gain of 0.5% in February. Actual was an increase of 0.5%. Consensus for Spending was an increase of 0.7% versus a gain of 0....Read More

Tech Talk for Thursday April 28th 2022

28/04/2022 / Staff reporter

U.S. equity index futures were higher this morning. S&P 500 futures were up 63 points at 7:30 AM EDT. First quarter annualized real GDP in the U.S. is scheduled to be released at 8:30 AM EDT. Consensus is an increase of 1.0% versus a gain of 6.9% in the fourth quarter. Meta Platforms (i.e. Facebook) jumped $32.95 to $207.80 after reporting higher than consensus first quarter earnings. Teledoc...Read More

Base metals generally lower on the LME, but stronger in China

27 April 2022 / Staff reporter

Base metals prices on the London Metal Exchange were mainly weaker on the morning of Wednesday April 27, while those on the Shanghai Futures Exchange were generally stronger.* The slide in China’s renminbi yuan has halted, but the alarm bell is still ringing* United States 10-year treasuries yields have weakened, which is another sign of haven demandBase metalsThree-month tin prices on the LM...Read More

Tech Talk for Wednesday April 27th 2022

27/04/2022 / Staff reporter

U.S. equity index futures were higher this morning. S&P 500 futures advanced 16 points in pre-opening trade. A major reason for the advance was a share price recovery this morning in Microsoft. After a price drop after the close last night following release of quarterly results, the stock gained $10.62 this morning to $280.84.Visa gained $11.14 to $212.24 after reporting higher than consensus...Read More

Tech Talk for Tuesday April 26th 2022

26/04/2022 / Staff reporter

U.S. equity index futures were lower this morning. S&P 500 futures were down 15 points in pre-opening trade. Index futures were virtually unchanged following release of the March Durable Goods Orders report at 8:30 AM EDT. Consensus was an increase of 1.0% versus a drop of 2.1% in February. Actual was an increase of 0.8%. Excluding transportation, consensus was an increase of 1.1%. Actual was...Read More

Base metals run into dip buying on LME, but will there be follow-through buying?

26 April 2022 / Staff reporter

Base metals prices on the London Metal Exchange rebounded on the morning of Tuesday April 26, while those on the Shanghai Futures Exchange were generally weaker in response to LME weakness on Monday.Dip buying seems to be unfolding again but, given the stronger macro-economic headwinds, we would be wary in case this rebound does not last.* The slide in China’s renminbi yuan is a potential ala...Read More

Tech Talk for Monday April 25th 2022

25/04/2022 / Staff reporter

U.S. equity index futures were lower this morning. S&P 500 futures were down 28 points in pre-opening trade. Index futures responded to overnight weakness in world equity indices including a 5% drop by the Shanghai Composite Index.Twitter gained $2.72 to $51.65 on news that Elon Musk met with board members over the weekend to discuss Musk's $54.20 per share cash offer.Coca Cola added $0.25 to...Read More

Base metals prices weaker across the board as headwinds gain strength

25 April 2022 / Staff reporter

Base metals prices on the LME and SHFE were down across the board on Monday April 25, amid continuing concerns over slower growth in China, because of Covid-19 lockdowns, and due to rising interest rates, inflation and energy costs everywhere else.* China’s renminbi yuan continues to slide to 6.5475, after trading either side of 6.3400 through the first quarter* China’s mass Covid-19 loc...Read More

Tech Talk for Friday April 22nd 2022

22/04/2022 / Staff reporter

U.S. equity index futures were mixed this morning. S&P 500 future were unchanged in pre-opening trade. The Canadian Dollar added 0.04 to US78.89 cents following release of Canada's February Retail Sales at 8:30 AM EDT. Consensus was a drop of 0.5% versus an upwardly revised gain of 3.3% in January. Actual was a gain of 0.1%.Intuitive Surgical dropped $9.57 to $285.00 after reporting less than...Read More

Tech Talk for Thursday April 21st 2022

21/04/2022 / Staff reporter

U.S. equity index futures were higher this morning. S&P 500 futures were up 38 points at 7:30 AM EDT. The April Philly Fed Index to be released at 8:30 AM EDT is expected to slip to 20.9 from 27.4 in March.Focus is on Federal Reserve Chairman Powell's speech at 1:00 PM on monetary policy.Tesla gained $49.38 to $1,026.50 after reporting higher than consensus first quarter revenues and earnings....Read More

Tech Talk for Wednesday April 20th 2022

20/04/2022 / Staff reporter

 U.S. equity index futures were higher this morning. S&P 500 futures were up 19 points in pre-opening trade.Investors are watching for news on U.S. interest rate trends in the Beige Book to be released at 2:00 PM EDTThe Canadian Dollar added 0.06 to U.S.79.82 cents following release of the March Canadian Consumer Price Index at 8:30 AM EDT. On a year-over-year basis, consensus for March C...Read More

Tech Talk for Tuesday April 19th 2022

19/04/2022 / Staff reporter

U.S. equity index futures were higher this morning. S&P 500 futures were up 4 points in pre-opening trade. Index futures were virtually unchanged following release of March Housing Starts at 8:30 AM EDT. Consensus was 1.750 million units, down from 1.769 million units in February. Actual was 1.793 million units.JB Hunt Transport added $2.43 to $173.88 after reporting higher than consensus firs...Read More

Tech Talk for Monday April 18th 2022

18/04/2022 / Staff reporter

U.S. equity index futures were lower this morning. S&P 500 futures were down 13 points in pre-opening trade.Wendy's dropped $0.43 to $20.46 after Bank of Montreal downgraded the stock.Twitter added $2.20 to $47.28 after Chairman Jack Dorsey announced favouring Elon Musk's takeover offer of the company.Bank of America gained $0.23 to $37.80 after the company reported higher than consensus first...Read More

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