Spot gold is higher than comex gold futures after a very long-term time. Silver, copper and crude oil will remain firm on demand outlook and mine supply pressure. Trend of all metals, energies and US dollar Index till 2nd June can be misleading. Trend between 3rd June to 17th June will be sustainable. COVID is getting less attention now. Focus is on jobs and economy. COVID infections once world...Read More
Though gasoline demand remains historically weak, commuters are beginning to head back to their offices, opting for the isolation of their personal vehicles and abandoning public transit, reports McAlinden Research.Saudi Arabia enhanced their commitment to OPEC+ supply cuts as the Kingdom said they'd shut production of additional 1 million barrels of crude oil per day next month. Most of the OPEC+...Read More
Though gasoline demand remains historically weak, commuters are beginning to head back to their offices, opting for the isolation of their personal vehicles and abandoning public transit, reports McAlinden Research.Saudi Arabia enhanced their commitment to OPEC+ supply cuts as the Kingdom said they'd shut production of additional 1 million barrels of crude oil per day next month. Most of the OPEC+...Read More
Though gasoline demand remains historically weak, commuters are beginning to head back to their offices, opting for the isolation of their personal vehicles and abandoning public transit, reports McAlinden Research.Saudi Arabia enhanced their commitment to OPEC+ supply cuts as the Kingdom said they'd shut production of additional 1 million barrels of crude oil per day next month. Most of the OPEC+...Read More
The S&P traded atop its 200-day moving average for the first time since early MarchStocks roared back to life after the long holiday weekend, ending Tuesday with impressive daily wins. Most notably, the S&P 500 jumped over the the 3,000 level, which coincides with its closely watched 200-day moving average, for the first time sinceearly March, before ending the day just below the region. Meanwhile...Read More
Amazon's interest in podcasts puts SPOT in focusWhile most of the the broad market enjoys outsized gains, the shares of Spotify Technology SA (NYSE:SPOT) are flat, trading at $190.21 today. Rumors are swirling of Amazon.com's (AMZN) interest in investing in localized podcast content began circulating via a report from Axios. The article noted that sports content was a major draw for the e-commer...Read More
Deutsche Bank's CEO warned that markets are being too optimistic over the economy's recovery from the coronavirus crisisBearish comments from German financial name Deutsche Bank AG (NYSE:DB) have attracted the attention of options traders today, and sent the stock surging -- up 12.6% at $8.24 at last check. Specifically, the company's CEO Christian Sewing said during an online conference earlier t...Read More
Amazon looks to enter the video game realmJeff Bezos and his Amazon.com, Inc (NASDAQ:AMZN) empire have their hands in virtually everything, and are showing no signs of letting up. Now, Amazon is eyeing the video game sector, just last week taking a giant step forward with the launch of "Crucible," a free-to-playonline game similar to vastly popular, "Fortnite." As the online e-tailer prepares to t...Read More
The Dow is up over 550 points middayAll three major indexes are barreling higher at midday, with the Dow Jones Industrial Average (DJI) up nearly 600 points at last check, as investors unpack vaccine news and a slew of positive economic sentiment. Furthermore, both the blue-chip index and the S&P 500 Index (SPX) havebroken above key levels, with the latter reclaiming the round 3,000 level --an are...Read More
AutoZone's fiscal third-quarter results beat estimatesThe shares of AutoZone, Inc. (NYSE:AZO) are up 4.6% at $1,174.70 at last check, after reporting a fiscal third-quarter earnings beat as well as higher-than-expected revenue. After a quarter of extreme ups and downs, sales sped ahead in the last four weeks of the quarter as stimulus checks began to arrive. The company did add, however, that due...Read More
MRK is staring up at stiff resistance on the charts, thoughUnlike many sector peers, Merck & Co., Inc. (NYSE:MRK) has been quiet with its COVID-19 vaccine development plans. That's all changed now, after the blue-chip biotech company announced the acquisition of Themis Bioscience, an Austria-based company to begin development of a potential coronavirus vaccine. As a result, MRK is now up 1% to...Read More
Telsey doubled its price target on Williams-SonomaHome goods retailer Williams-Sonoma, Inc. (NYSE:WSM) just got an upgrade from Telsey this morning to "outperform" from "market perform." The analyst also doubled its price target to $80 from $40. Meanwhile, the company's West Elm unit announced a partnership with REI Co-op for the launch of a co-curated collection of REI x West Elm lifestyle produc...Read More
Stock futures are up on vaccine hopes and economies reopeningDow Jones Industrial Average (DJI) are soaring to kick off the holiday-shortened week, up over 500 points at last check, as investors unwind the optimism surrounding the reopening of the economy and potential for a coronavirus vaccine. Biotech company Novavax (NVAX) is making wavesthis morning, after announcing it had begun clinical tri...Read More
Additionally, short-term traders are becoming increasingly optimistic, evident by the 10-day moving average of our customer-only, equity-only buy (to open) put/call volume ratio, as seen in the chart below. As the market troughed in March, thesemarket participants were at a pessimistic extreme not seen in years. Now, just two months later, this group is showing levels of optimism seen at short-te...Read More
Stephen Roach, senior lecturer at Yale School of Management and former chairman of Morgan Stanley Asia, talks about China's deteriorating relationship with the U.S. because of the coronavirus and China's push to introduce new security laws in Hong Kong. Stephen S. Roach, former Chairman of Morgan Stanley Asia and the firm's chief economist, is a senior fellow at Yale University's Jackson Institute...Read More
If there's a crisis will you be able to get any cash out of the bank? Will the banks even have any cash? Because, as of last March, it is no longer a requirement - the banks aren't required to have a single dollar bill. Michael Maloney is a precious metals investment expert and historian. He is the founder and owner of GoldSilver.com, a global leader in gold and silver sales/storage and one of the...Read More
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"It's not that gold is gaining in value, it's that fiat currencies are all losing value. Gold is the one stable factor. It's the one thing governments can't create out of thin air. Every currency in the world, except the dollar, are hitting new record lows against gold."Peter Schiff is an internationally recognized economist specializing in the foreign equity, currency and gold markets. Mr. made h...Read More
The premiums in the silver market have come in over recent weeks but that still doesn't address the leverage that has been piled onto the market over the past decade and longer. Which has left Andy Schectman of precious metals dealer Miles Franklin saying that he thinks silver is the buying opportunity of a generation.Certainly, with Jerome Powell and the Federal Reserve indicating that even furth...Read More