The U.K. on Wednesday became the latest country to offer bonds at negative interest rates.Continue...Read More
"People should not assume the peak has passed or let down their guard." "It's totally possible that the epidemic will last for a long time."Continue...Read More
Gold is 15% higher in dollars, 18% higher in euros and 23% higher in sterling year to date as safe haven demand sees gold act as a hedge again.Continue...Read More
Gold prices have pushed to within striking distance of $1,800 an ounce, but the rally comes during the market's seasonally slow period and according to one market analyst, it could be an uphill battle for further gains.In an interview with Kitco News, Mickey Fulp, creator of the Mercenary Geologist Newsletter, said that traditionally, gold prices have a strong start to the year, prices are flat th...Read More
Turkish steel mills stayed out of the deep-sea scrap market on Wednesday May 20, with national holidays and Covid-19 lockdown measures continuing to inhibit trading activity, sources told Fastmarkets.In addition to the public holiday on May 19 and the upcoming Eid al-Fitr break - from Friday May 22 to Tuesday May 26 to mark the end of Ramadan - the country's major cities remained subject...Read More
The neocons are hard at work to make sure their long-awaited war with Iran comes to fruition this year, perhaps as a distraction from the coronavirus pandemic sweeping the U.S.Continue...Read More
Gold Terra Resource noted that some of the holes showed the widest gold intersections ever drilled at the target. Gold Terra Resource Corp. (YGT:TSX.V; TRXXF:OTC; TXO:FSE) announced in a news release the results of the final six drill holes from Sam Otto at its Yellowknife City gold project in the Northwest Territories."Overall, the drilling campaign at Sam Otto was successful in expanding the fo...Read More
Seabridge Gold's goal is to determine if the Iskut property contains a copper-gold porphyry system. Seabridge Gold Inc. (SEA:TSX; SA:NYSE.MKT) announced in a news release it plans to start drilling in June at its Iskut project in British Columbia's Golden Triangle.With the program, the Toronto-based company will drill test up to 8,000 meters for a gold-copper porphyry like the one it discovered a...Read More
Prices for H2-grade heavy steel scrap remained stable in Japan over the past week after several deals were booked to Vietnam, market sources told Fastmarkets on Wednesday May 20.Deals for H2 material were heard at ?23,000 ($214) per tonne fob to Vietnam in recent days, equivalent to $248 per tonne cfr South Vietnam and $253-255 per tonne cfr North Vietnam, Fastmarkets heard.The Japanese deals cam...Read More
Seaborne iron ore prices fell on Wednesday May 20 amid slow trading activity, bringing to an end a run of consecutive increases seen since the start of May.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $96.95 per tonne, down $1.41 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $99.54 per tonne, down $1.45 per tonne. 58% Fe fines high-grade premium, cfr Qingdao: $84.05 per t...Read More
Iranian export billet and slab prices have begun to recover in the second half of May, supported by demand from customers in Asia, sources told Fastmarkets on Wednesday May 20.At least three cargoes of Iranian billet, totaling up to 100,000 tonnes and scheduled for shipment in July-early August, were sold at $348-350 per tonne fob this week to China and Southeast Asia, they said. Seven days a...Read More
Trading activity in China's domestic rebar market dropped on Wednesday May 20 after prices rose to their highest since the Chinese New Year a day earlier, but they held up during the day despite the weaker demand.Domestic Eastern China (Shanghai): 3,560-3,590 yuan ($501-505) per tonne, unchangedBuyers cut their procurement rates during the day amid the high prices after seeing rebar futures fluctu...Read More
Amazon and Facebook both grabbed record highs todayThe Dow grabbed a roughly 370 point win on Wednesday, with the rallying tech sector providing a springboard off yesterday's last-minute lows. The S&P 500 and Nasdaq enjoyed sizable gains of their own -- the former clocking its highest close since early March -- as FAANG names Facebook (FB) and Amazon (AMZN) both managed to grab record highs midda...Read More
Clorox increased its quarterly dividend by 5%The shares of Clorox Co (NYSE:CLX) are up 1.4% to trade at $204.45 at last check. The household cleaning stock, rapidly rising on the charts since the pandemic began, has now increased its quarterly dividend by 5%, to $1.11 per share. The company has also partnered with United Airlines (UAL), the airliner saying Clorox products will be used at their hub...Read More
DaVita has broken above its year-to-date breakeven markKidney dialysis provider DaVita Inc (NYSE:DVA) has been on a long-term climb on the charts, and following its mid-March pullback, has broken back above its year-to-date breakeven mark, as well as a trendline connecting lower highs since February. The shares are also seeing support at the 30-day moving average, following a positive earnings rea...Read More
Nvidia will release its first-quarter earnings report after the close tomorrowSemiconductor notable Nvidia Corporation (NASDAQ:NVDA) is chugging higher again today, up 1.2% to trade at $356.57, which is just a chip shot from yesterday's all-time high of $363.50. The equity is pacing for an all-time closing high today, just one day before its first-quarter earnings report, which is due out tomorrow...Read More
AVGO could reclaim a key trendline after next weekMemorial Day weekend is right around the corner, and Schaeffer's Senior Quantitative Analyst Rocky White already gave us the best day to buy stocks during the holiday-shortened week. But what about the best-performing stocks on the S&P 500 for next week? That would be Apple supplier Broadcom Inc (NASDAQ:AVGO), boasting particularly impressive Mem...Read More
The Dow is up over 350 points middayThe Dow Jones Industrial Average (DJI) is up over 430 points midday, as doubts regarding Moderna's (MRNA) vaccine data are overshadowed by the static count in coronavirus cases, despite an ease in country-wide lockdowns. Encouraged by strong retail earnings and a fresh rise of oil prices, the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also eyeing a cl...Read More
The company is returning $43.3 million in coronavirus stimulus paymentsThe shares of CVS Health Corp (NYSE:CVS) are up 0.9% at $64.17 at last check, following news that the company is giving back $43.3 million it received from the CARES Act Provider Relief Fund. CVS chief executive Larry Merlo stated that the CVS did not ask for the funds, and in returning it "we hope to help HHS provide additiona...Read More
The high-carbon and low-carbon ferro-markets in Europe increased in price last week, while industry sources reported around 900 tonnes of done deals in the former and about half of that for more refined-grade material.The high-carbon ferro-chrome price spread narrowed to $0.12 per lb after deals were reported that raised the lower end of the assessment.Deals for around 900 tonnes were reported and...Read More