Navistar's second-quarter earnings report is due out before Thursday's openThe shares Navistar International Corp (NYSE:NAV) are up 6.7%, to trade at $25.43 this afternoon,just ahead of the heavy machinery manufacturer's second-quarter earnings report, which is due out before Thursday's open. Below, we'll dig into how NAV has fared in the past, and see what post-earnings moves the options market...Read More

Stocks are picking up steam on this mornings' promising jobs reportThis morning's promising employment data is keeping the wind at stocks' backs today, with Dow Jones Industrial Average (DJI) up more than 400 points and reclaiming the 26,000 level. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also enjoying outsized gains, with the former vying for its biggest 50-day bounce in histo...Read More

LVMH was to acquire Tiffany & Co in a billion-dollar dealThe shares of Tiffany & Co (NYSE:TIF) are down 1.1% at $115.73, after reports that the $16.2 billion takeover of the jewelry brand by French luxury group Louis Vuitton SE (LVMH), is looking less certain. LVMH's board is concerned about a deteriorating situation in the U.S. market as well as Tiffany & Co's debt. However, Credit Suisse noted t...Read More

Demand for flat steel products in Turkey was moderate in May because of low stocks in the country and the spread of the Covid-19 pandemic, market participants told Fastmarkets on Wednesday June 3.Turkish flat steel producers were fully booked until late July and have started to accept orders for August production.Steel trading was limited in May because of various curfew orders and national holida...Read More

The trendy cosmetics company is in talks with reality TV star Kim Kardashian West over a line of beauty productsThe shares of Coty Inc. (NYSE: COTY) are up 6.5% at $4.47 this morning -- one of the best stocks on the New York Stock Exchange -- after the cosmetics company disclosed it is in talks with reality TV star Kim Kardashian West over a possible collaboration on a line of beauty products....Read More

UNH is fresh off a record high last ThursdayLast week, with the help of Schaeffer's Senior Quantitative Analyst Rocky White, we broke down the best S&P 500 stocks to own in June over the past 10 years. Just two Dow stocks made the list, the best being UnitedHealth Group Inc (NYSE:UNH), which is a welcome sign for a red-hot stock boasting a 22.8% quarterly gain.More specifically, looking back over...Read More

Campbell Soup's third-quarter profits and revenue were better than Wall Street expectedCampbell Soup Company (NYSE:CPB) threw its hat into the earnings ring this morning, reporting fiscal third-quarter profits of 83 cents on revenue of $2.24 billion, both of which came in higher than analysts' estimates. Additionally, the food producer raised its full-year guidance, and saw an increase in demand...Read More

British Steel will suspend production at its Skinningrove site for three weeks from June 13, the company said on Tuesday June 2. The company said trading conditions remain challenging, including for products manufactured at the special profiles business in Skinningrove and they have now taken the...Read More

The remote meeting staple nearly doubled its revenue forecastThe shares of buzzed-about work-from-home staple Zoom Video Communications Inc (NASDAQ:ZM) are up 0.8% this morning to trade at $209.44, after posting earnings and revenue for the first quarter that topped analysts' expectations. The company nearly doubled its annual sales forecast, too, blowing Wall Street's estimates out of the water,...Read More

Protests are still going on across all 50 statesDow Jones Industrial Average (DJI) futures are up over 250 points this morning, as the market continues to focus on the optimism surrounding the economy reopening. Futures on the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are also modestly in theblack, with all three indexes extending their gains after last month's ADP private sector report fell...Read More

With the nation in deep crisis, stocks continued on their heedless path higher. The seemingly demented rally is demonstrating yet again that bull markets at some point decouple so completely from reality as to mock those who thrive by promoting them. By now, the spun story that investors are looking past the pandemic and focusing on renewed growth is sounding increasingly farfetched. Some econom...Read More

By: Gary SavageThe US Dollar Index has broken through support and is heading lower. Where to next?https://blog.smartmoneytrackerpremium.com/Read More

Steve St. Angelo, SRSrocco Report What goes up, must come down. And, this is most certainly true for the mighty North Dakota Bakken... the second-largest shale oil-producing region in the United States. Even after the global contagion fades away, the North Dakota Bakken has likely reached peak production. According to a new chart by Jean Laherrere, from his recent work titled, Negative WT...Read More

By: Ira Epstein18-day moving average near 1740, strong support in the lower $1700's:Read More

Spain's steel production declined in April due to Covid-19-related restrictions, with output sinking below the figures reached over the "worst months of the financial crisis in 2008," Unesid, the country's steel association, said.Last week, the Spanish government extended its Covid-19 lockdown for the fifth time until June 7, discarding the original end date of May 24.The steel sector was allowed...Read More

Precious metals are loving the uncertainty the coronavirus hascreated. Despite limited successessome countries have had with reopening, the virus is nowhere near contained. Asof this writing, close to 6 million worldwide are infected and 365,328 havedied. The important columns in the table below from the heavily visited Worldometer's coronavirus page, are the yellow andred.  The United S...Read More

Here are five Fastmarkets stories you might have missed on Wednesday June 3 that are worth another look.Mills in India and Pakistan have returned to the market for bulk scrap and have booked cargoes from the United States over the past few days, sources told Fastmarkets on June 3.Primary aluminium stocks at the three main Japanese ports (MJP) of Osaka, Nagoya and Yokohama rose by 4% mont...Read More

From Investopedia:“Correlation is a statistic that measures the degree to which two variables move in relation to each other. Correlation measures association, but doesn’t show if x causes y or vice versa, or if the association is caused by a third–perhaps unseen–factor.”In order for correlation to exist, there must be fundamentals that directly connect the two items...Read More

SPX returns are typically bearish when faced with a big comeback amid bullish sentimentWith lots of fanfare, the S&P 500 Index (SPX) closed above its 200-day moving average for the first time since pandemic fears crashed the market. The index spent 57 trading days below its moving average, from March 5th through last Wednesday. It was its longest stint below the 200-day moving average since 2011....Read More

Since the creation of the Federal Reserve in1913, the stock market has outperformed Gold and Silver significantly. Here isa great chart (from longtermtrends.net) that proves this: The S&P 500 is in red, the Dow in blueand Gold and Silver in their native colours. The outperformance is huge.Through the debt-based monetary system, the Fed facilitates the extension ofcredit which disproportionatel...Read More