Taiwan Semiconductor is up 19.2% year-over-year thoughThe shares of Taiwan Semiconductor Mfg. Co. Ltd. (NYSE:TSM) are down 5.1% to trade at $49.73 at last check, even after the Apple supplier confirmed plans -- in conjunction with Qualcomm (QCOM) -- to build a $12 billion chip factory in Arizona. The move represents an attempt to give the U.S. a chance regain global supply chains back from China...Read More

The Nasdaq did notch a six-day win streak earlier in the weekThere was optimism heading into the week as U.S. economies began to reopen, but that sentiment was not replicated on Wall Street. The Dow Jones Industrial Average (DJI), the S&P 500 Index (SPX) and the Nasdaq Composite (IXIC) are on track for ugly weekly losses, as lockdown leniency is met with panic of a second wave of coronavirus. A d...Read More

Some last-minute traders are betting on more upside for TWTR with monthlies Though the reasons are not quite clear, social media giant Twitter Inc's (NYSE:TWTR) options pits are buzzing with bulls today. So far, 93,000 calls have crossed the tape -- more than two times the intraday average -- compared to 15,000 puts. Positions are being opened at the May 29.50 call, which expires later today, as w...Read More

The Dow is down over 160 points middayAll three indexes are eyeing their worst week since late March, as the Dow Jones Industrial Average (DJI) falls over 160 points midday on the heels of increasing tensions between the U.S. and China. The S&P 500 Index (SPX) and Nasdaq Composite (ICIX) have also been pushed into the red, as investors digest the worst monthly retail sales decline on record, a 16...Read More

Stifel downgraded SE to "hold" from "buy"The shares of Sea Ltd (NYSE:SE) are down 1.6% at $60.52 at last check, after the software company was downgraded to "hold" from "buy at Stifel. Although the brokerage upped its price target to $62 from $55, the analyst in coverage is positive on the growth of Shopee, the company's e-commerce platform in Asia, and adjusted to "hold" as the stock is "appropri...Read More

Prices for cold-rolled and galvanized steel sheet in the United States held steady while market participants gauged the impact of North American automakers resuming production and the pace of rebound in other steel-dependent manufacturing.Two sheet mill sources said the recent round of price increases has mostly been accepted even though some distributors were slow to restock. For that reason, Jun...Read More

Yum! stock just received an upgrade to "buy" from StifelThe shares of Yum! Brands, Inc. (NYSE:YUM) are down 0.9% to trade at $82.51, after the fast food corporation's board of directors declared a quarterly dividend of 47 cents per share of common stock, which represents a $1.88 dividend on an annualized basis with a yield of 2.3%. The dividend is set to be distributed to shareholders on June 12...Read More

VF Corp's fiscal fourth-quarter earnings and revenue both missed analysts' estimates Apparel name VF Corp (NYSE:VFC) just announced its fiscal fourth-quarter results, with earnings and revenue coming in below analysts forecasts. The North Face parent also forecast a more than 50% drop in revenue for its current quarter, with pandemic-related store closures digging into sales, and did not provide a...Read More

The precious metals market did almost nothingyesterday, and consequently we have relatively little to comment on today.There are two subtly bearish signs that we would like to feature, nonetheless.The first subtly bearish sign is the change in theway the USD Index “topped” this month. In early April, and then in late April,the USDX reversed close to the 101 level and then moved lower i...Read More

Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 277,77134,94335,158126,023404,556438,952474,657 Change from Prior Reporting Period 2,2009,376-4,8525,9782,8753,3267,399 Traders 20445825556290158 Small Speculators LongShortOpen Interest 57,78722,082496,739 3,070-1,0036,396 non reportable positionsChange...Read More

By: Ira EpsteinGold is thrusting higher and now looking at prior highs, watch these key resistance and breakout levels. Read More

U.S.-China trade tensions are flaring up again tooYesterday's huge comeback is already in the rear-view mirror, with Dow Jones Industrial Average (DJI) futures pointed sharply lower this morning after retail sales plunged to a new record-low of 16.4%, handily worse than the estimated 12.3% drop. Futures on the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also set to open below fair va...Read More

The latest forecasts from Fastmarkets' team of analysts are ready to view.Falling demand, cheaper imports to put pressure on US domestic prices Prices at the start of May were essentially unchanged from April in the seamless OCTG and linepipe markets in the United States, amid minimal market activity. Mills were cutting output rather than prices. Demand, however, was deteriorating faster than supp...Read More

Technical expert Clive Maund explains why he believes gold and silver are powering up for a stratospheric advance.The deflation and depression is right here, right now, and if you don't believe that, try asking some of the 30 million people who just lost their jobs in the U.S., or those who (used to) work in the catering and tourism industries.The Federal Reserve is reacting to this situation by w...Read More

Brazilian steelmaker Companhia Sider??rgica Nacional (CSN) will try to apply price increases to flat steel products next month, to compensate for the recent loss of value of the local currency."With the current value of the dollar [versus the Brazilian Real], a price increase is unavoidable; it is a matter of survival," commercial director Luis Martinez said during the company's first-quarter earn...Read More

A summary of production figures and financial results from Brazilian steelmaker Companhia Sider??rgica Nacional (CSN) for the first quarter of 2020, as stated in its earnings report published on Thursday May 14.In brief CSN's hot-rolled coil, cold-rolled coil and galvanized domestic steel sales fell year on year in the first quarter of 2020, but tinplate and long steel sales were up in the sa...Read More

China's crude steel output was largely flat in April, but finished steel production significantly increased to exceed 100 million tonnes, according to data released by the country's National Bureau of Statistics (NBS) on Friday May 15.Steel outputAprilCrude steel: 85.03 million tonnes, up by 0.2% from a year earlier and up by 7.7% month on monthHot metal: 72.02 million tonnes, down 1.2%...Read More

Brazilian steelmaker Companhia Sider??rgica Nacional (CSN) will try to apply price increases to flat steel products next month, to compensate for the recent loss of value of the local currency."With the current value of the dollar [versus the Brazilian Real], a price increase is unavoidable; it is a matter of survival," commercial director Luis Martinez said during the company's first-quarter earn...Read More

By Mike GleasonGold and silver markets are inching closer to achieving major upside breakouts.On Thursday, gold rallied above a near-term consolidation pattern to close at $1,747 an ounce. That put the monetary metal about $30 away from making new highs for the year. As of this Friday recording, gold prices are marching higher again and come in at $1,761, up 2.5% for the week.Turning to silver,...Read More

Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 277,77134,94335,158126,023404,556438,952474,657 Change from Prior Reporting Period 2,2009,376-4,8525,9782,8753,3267,399 Traders 20445825556290158 Small Speculators LongShortOpen Interest 57,78722,082496,739 3,070-1,0036,396 non reportable positionsChange...Read More