U.S. equity index futures were higher this morning. S&P 500 futures were up 77 points in pre-opening trade. Booking gained $66.47 to $1,966.00 after Oppenheimer upgraded the stock from Perform to Outperform.Campbell Soup slipped $0.10 to $42.20 after reporting less than consensus fiscal second quarter revenues. General Electric advanced $1.49 to $89.64 after the company announced a share buyba...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 5 points in pre-opening trade. Index futures were virtually unchanged following release of the January U.S. Trade Deficit at 8:30 AM EST. Consensus was an increase to $87.00 billion from $80.70 billion in December. Actual was an increase to $89.7 billion. The Canadian Dollar was virtually unchanged at US 77.89 cents f...Read More
The focus on the London Metal Exchange on the morning of Tuesday March 8 is the short squeeze that has sent the nickel market wild - prices were up by over 100% at one stage on Tuesday morning from Monday’s close, at $101,365 per tonne, this after Monday’s 72.7% rise.• Nickel experiencing panic short-covering as some major longs, shorts battle it out• Russia threatening to cut...Read More
U.S. equity index futures were sharply lower this morning. S&P 500 futures were down 23 points in pre-opening trade. Index futures are responding to the growing conflict in Ukraine. Commodity prices were sharply higher again this morning in response to the Ukraine conflict. Gold added $9.70 to $1,976.30. Crude oil gained $2.90 to $118.58. Bed Bath & Beyond advanced $10.75 to $26.93 on news...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 23 points in pre-opening trade. Index futures responded to weakness in European equity indices related to the expanding Ukraine conflict. Tensions escalated last night after Russian troops took control of Europe's largest nuclear power complex located in south Ukraine. U.S. equity index futures recovered following rel...Read More
U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged at 7:30 AM EST. Investors are waiting for the U.S. fourth quarter Non-farm Productivity report to be released at 8:30 AM EST. Consensus calls for a 6.5% increase versus a 6.6% gain in the third quarter. MGM Resorts International added $0.37 to $44.10 following approval of a $2 billion share buyback program.Victor...Read More
London and Shanghai Metal Exchange base metals prices, with the exception of lead, were higher again on the morning of Thursday March 3, building on the gains seen earlier in the week as the markets adjust to the loss of supplies from Russia.* Spot Brent crude oil trading at more than $118 per barrel* US Federal Reserve gave more clarity over its interest agenda, focus on inflation* Western divest...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 16 points in pre-opening trade. Index futures responded to President Biden's State of the Union address released last night.The Canadian Dollar was quiet at U.S.78.81 cents prior to news from the Bank of Canada at 10:00 AM EST. Consensus calls for an increase in the Bank of Canada's interest rate to major Canadian bank...Read More
London Metal Exchange base metals prices and spot gold were consolidating in London on the morning of Wednesday March 2, following average gains of 2.6% across the base metals on Tuesday as the market prepared for likely supply losses from Russia.* United States 10-year treasuries rates were recently at 1.73%, down from more than 2% on Friday, as haven demand rises* Spot Brent crude oil trading at...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 11 points in pre-opening trade. The Canadian Dollar was virtually unchanged at US78.80 cents following release of Canada's December GDP at 8:30 AM EST. Consensus was unchanged versus a gain of 0.6% in November. Actual was unchanged . Consensus for fourth quarter real GDP was an annualized increase of 6.5% versus an an...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 57 points in pre-opening trade. Index futures were responding to growing geopolitical concerns related to events in Ukraine.Commodity prices were higher this morning related to events in Ukraine. Gold gained $23.30 to US$1909.90 per ounce. Crude oil advanced $4.05 to $95.64 per barrelToronto Dominion Bank (TD Cdn$104....Read More
Base metals prices were little changed but mixed on the London Metal Exchange, while those on the Shanghai Futures Exchange were for the most part weaker on the morning of Friday February 25, perhaps suggesting that China is expecting to see more metal from Russia.* US equities recovered early losses on Thursday...* ...this has provided some stability to markets on Friday morning* Spot Brent crude...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 20 points in pre-opening trade. Index futures moved higher following release of economic reports at 8:30 AM EST. Consensus for January Durable Goods Orders was an increase of 0.8%. Actual was an increase of 1.6%. Excluding transportation orders, consensus for January Durable Goods Orders was an increase of 0.4%. Actual...Read More
LME base metals prices and spot precious metals were up across the board on news of Russia's invasion of Ukraine, while base metals on the SHFE were mixed on the morning of Thursday February 24.* Nickel, aluminium, palladium and silver were up by more than 2% this morning* Spot Brent crude oil touches $100 per barrel* Western equity index futures down 2-4%Base metalsThree-month base metals prices...Read More
World equity markets are sharply lower this morning on news that Russia has invaded Ukraine. European equity indices are down 3%-5%.At 7:30 AM EST, S&P 500 futures were down 103 points, gold advanced $49.10 to $1,959.50 per ounce. Crude oil gained $6.55 to $98.65 per barrel.eBay dropped $4.20 to $50.39 after the company reported a fourth quarter loss. Fourth quarter revenues also were lower th...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 30 points in pre-opening trade. Lowe's added $8.10 to 222.69 after reporting higher than consensus fourth quarter results.Palo Alto Networks gained $29.29 to $505.00 after reporting higher than consensus fiscal second quarter results.Caesar's World dropped $2.57 to $74.60 after reporting lower than consensus fourth qua...Read More
Fastmarkets' copper concentrate treatment charge/refining charge (TC/RC) indices edged down slightly in the week to Friday November 19. Spot activity was thin, with the market still focusing on 2022 contract negotiations; no number for benchmark charges has...Read More
Aluminium billet premiums were steady across the globe on Friday November 19, remaining close to all-time highs.EuropeEuropean billet premiums are unchanged this week at record highs but liquidity is low, with most buyers covered until the end of the year.Fastmarkets assessed the aluminium 6063 extrusion billet premium, ddp North Germany (Ruhr region) at $1,450-1,500 per tonne on November 19, unch...Read More
An overview of the new energy materials markets and their price moves in the week to Friday November 19.Susan Zou, Yingchi Yang and...Read More
Key data from Fastmarkets' pricing sessions in China, Europe and the United States on Friday November 19.China?EUR?Weaker downstream steel demand was the principal driver of the decrease in China's ferro-silicon price. Due to the normal steel purchase off-season, demand for steel was not at a high level. Besides, with the heat supply period beginning in northern China, steel production will be und...Read More