The cartel will meet in Vienna in one weekIn one week, the Organization of the Petroleum Exporting Countries (OPEC) will convene in Vienna. The cartel's decision on oil productioncould determine the trajectory of crude prices, in the short term at least. Ahead of this big event, one energy stock is sending up a historical "sell" signal: Kinder Morgan Inc (NYSE:KMI). In fact, KMI stock is encroachi...Read More

European base prices for flat and long stainless steel products were unchanged this week amid generally balanced and stable market conditions, sources told Metal Bulletin on Friday June 15.Demand is healthy, both domestically and for export, with one distributor noting particularly high interest from the UK and Eastern Europe, although buying from Turkey has slowed, possibly as a result of the wea...Read More

Also, the WSJ is reporting AAPL plans to use LCD screens in new iPhonesBenchmark weighed on on several Apple suppliers, initiating new "buy" recommendations on Skyworks Solutions Inc (NASDAQ:SWKS) and Qorvo Inc (NASDAQ:QRVO). This comes as The Wall Street Journal reports Apple (AAPL) is planning to use cheaper liquid-crystal displays (LCD) in its next generation of iPhones to cut the cost of the d...Read More

China's ferrous futures were mixed in the morning trading session on Friday June 15, with coke futures up, HRC futures down, and those of rebar, iron ore and coking coal largely flat. Futures closing prices - morning session Shanghai Futures Exchange October rebar: 3,877 yuan ($606) per tonne, down 2 yuan per tonne October hot-rolled coil: 3,954 yuan per tonne, down 13 yuan per tonne Dalian Commod...Read More

The Dow is pacing for a 4th straight dropThe Dow Jones Industrial Average (DJI) is down sharply at the halfway point, set for a fourth straight loss, as tariff fears weigh on large-cap stocks. A big drop in oil prices -- July-dated crude was last seen down 3% at $64.92 per barrel on concern the Organization of the Petroleum Exporting Countries (OPEC) and Russia will announce an output boost at nex...Read More

 CloseGain/LossOn WeekGold $1280.50-$22.30-1.39%Silver$16.59-$0.60-1.01%XAU82.58-2.47%-0.42%HUI177.88-2.34%-0.53%GDM620.37-1.75%-0.52%JSE Gold1048.64-30.58-1.08%USD94.77-0.02+1.28%Euro116.09+0.28-1.37%Yen90.43+0.02-1.06%Oil$65.06-$1.83-1.03%10-Year2.925%-0.012-0.61%Bond144.53125+0.40625+0.43%Dow25090.48-0.34%-0.89%Nasdaq7746.38-0.19%+1.32%S&P2779.42-0.11%+0.01%  The Metals: ...Read More

I am sure you remember the lead up to Q1 2016. The US economy and stock market were transitioning from a Goldilocks environment and narrowly avoiding a bear market while the rest of the world was still battling deflation. Precious metals and commodities were in the dumper and try though US and global central banks might, they seemed to fail to woo the inflation genie out of its bottle at every tur...Read More

Gold COT Report - FuturesLarge SpeculatorsCommercialTotalLongShortSpreadingLongShortLongShort192,75272,51248,368159,416300,003400,536420,883Change from Prior Reporting Period 7,431-1,393-2,344-4,6081,632479-2,105Traders18378794651265178 Small Speculators LongShortOpen Interest 48,15927,812448,695 -2,425159-1,946 non reportable positionsChange from the previous reporting...Read More

- Bitcoin price in one year (June 2019)? - Bitcoin at $10,000 is the call of majority of MoneyConf poll participants- Bears see bitcoin at $0 while uber bulls see $100k/$1m (incl. Max Keiser)- Is binary and "bitcoin will likely go to zero or go much higher"- "Which cryptocurrency are you betting on in 2019?" - MoneyConf poll asks- Bitcoin, ethereum favoured in poll over ripple and litecoin- Wha...Read More

The stock has been on a tear, but options on BOOT are cheap right nowApparel stocks have been making notable moves of late -- and at least one footwear name looks set for more short-term upside. Fortunately, now is an affordable time to bet on Boot Barn Holdings Inc (NYSE:BOOT) options ahead of its next leg higher, according to data from Schaeffer's Senior Quantitative Analyst Rocky White.At last...Read More

The ongoing speculation online about the future of cooperation between Russia and OPEC seems to be a little one-sided. The main point of discussion up until now has been the fact that, due to international pressure (such as Trump’s Twitter diplomacy, perceived Russian willingness to open up the taps and pressure from Asian consumers) Saudi Arabia will be willing to revoke its current product...Read More

Analysts chimed in after Finisar's mixed quarterly resultsFinisar Corporation (NASDAQ:FNSR) reported its first-quarter financial results last night. While revenue arrived in line with estimates, the fiber optic name's adjusted earnings came in below the consensus forecast. The results have sparked mixed reaction from the brokerage bunch. While D.A. Davidson issued a price-target hike to $26 from $...Read More

The Apple supplier is laying off employees to offset M&A costs Shares of Broadcom Inc (NASDAQ:AVGO) are slightly higher in early trading, after the company announced the layoff of over 1,100 workers, to offset costs associated with its $5.5 billion November purchase of tech concern Brocade. What's more, AVGO stock scored a new"buy" rating and $300 price target -- in uncharted territory -- from B...Read More

Both names have been in a channel of higher highs and lows recentlyShares of bluebird bio Inc (NASDAQ:BLUE) are up 0.5% in electronic trading, after the company reported positive early stage trial data for its LentiGlobin gene therapy in patients with sickle cell disease and thalassemia -- two blood disorders. Bluebird said it expects to submit a marketing application in the European Union (EU) la...Read More

Today marks the second quadruple witching Friday of 2018Futures on the Dow Jones Industrial Average (DJI) are trading 159 points below fair value this morning, after President Donald Trump announced tariffs of 25% on up to $50 billion in Chinese goods "that contain industrially significant technologies." Trump also said the U.S. is prepared to impose even more tariffs if China retaliates, as Beiji...Read More

Most of Wall Street is already bullish on the Dow componentUnited Technologies Corporation (NYSE:UTX) is trading slightly lower before the open despite a bull note out of Morgan Stanley. An analyst there resumed coverage on the Dow component with an "overweight" rating and $160 price target, well above yesterday's close of $126.94. A closer look at the charts suggests this bullish call on UTX stoc...Read More

Metal Bulletin reviews the major stories that have affected the steel market over the past week.Turkish scrap import prices recovered this week on steady demand from the country's steel mills. This was due to bullish sentiment in the markets arising from the United States' decision to impose its Section 232 import tariffs on material from the EU, Canada and Mexico.The US import pig iron market imp...Read More

The number of new passenger car registrations in the European Union increased slightly by 0.83% year-on-year in May 2018.New car sales in Europe totalled 1,398,913 units in May this year, compared with 1,387,450 vehicles sold in the corresponding month of 2017, the...Read More

 CloseGain/LossOn WeekGold $1280.50-$22.30-1.39%Silver$16.59-$0.60-1.01%XAU82.58-2.47%-0.42%HUI177.88-2.34%-0.53%GDM620.37-1.75%-0.52%JSE Gold1048.64-30.58-1.08%USD94.77-0.02+1.28%Euro116.09+0.28-1.37%Yen90.43+0.02-1.06%Oil$65.06-$1.83-1.03%10-Year2.925%-0.012-0.61%Bond144.53125+0.40625+0.43%Dow25090.48-0.34%-0.89%Nasdaq7746.38-0.19%+1.32%S&P2779.42-0.11%+0.01%  The Metals: ...Read More

By Ira EpsteinSilver holds key support but gold doesn't.https://www.iraepstein.com/ Read More