Jordan Roy-Byrne, Fonder of The Daily Gold shares some data about the current sentiment in gold and the bounces we have seen over the past 17 months when at these levels. These prior bounces lead some to believe that at least a $100+ run is due but there are some other factors that are showing things might be different this time. The USD and interest rates all play a roll.Jordan Roy-Byrne, CMT is...Read More
LONDON (Reuters) - Britain said on Thursday it was already seeing evidence that it may need to take action to protect the country’s steel industry from the impact of U.S. tariffs, and was discussing the matter with the European Union.“We are looking to see what impact there may be from any diversion and whether we need to introduce safeguards to protect UK steel producers,” Inter...Read More
East Asia's stainless steel prices held steady over the past week amid an illiquid spot market.Metal Bulletin's assessment of prices for benchmark 304 stainless 2mm trimmed cold-rolled coil was $2,240-2,300 per tonne cif East Asian ports for the week ended Wednesday June 27, unchanged from a week earlier.Metal Bulletin's assessment of prices for benchmark 304 stainless trimmed hot-rolled sheet was...Read More
SEOUL (Reuters) - A South Korean trade group on Thursday asked the United States for exemption from a tariff on automobile imports for the Asian country, citing a security alliance and a bilateral trade deal.U.S. President Donald Trump has threatened to impose tariffs on auto imports and foreign-made car parts after the Commerce Department finishes an investigation into the national security risks...Read More
* BOJ’s ETF buy hopes curb early drops - traders* Nikkei Volatility Index soars to 2-1/2-month high* Showa Shell falls 3.8 percent* Immediate support seen at 21,931.65, hit a month agoBy Ayai TomisawaTOKYO, June 28 (Reuters) - Japan’s Nikkei ended flat but near one-month lows on Thursday, taking its cue from weakness on Wall Street as a simmering trade row between the United States and...Read More
Oil remained red-hot on expectations for a drop in Iran's exportsThe Dow ended the day on a high note, up almost 100 points and erasing an early triple-digit deficit thanks to resurgent blue-chip bank stocks. Despite the rebound, the benchmark is still staring up at its 200-day moving average for the fourth straight day -- a first since March 2016. The S&P 500 and Nasdaq ended in the black too, wi...Read More
The shares recently pulled back to a trendline that's had historically bullish implicationsShares of Square Inc (NYSE:SQ) are popping today, after SunTrust Robinson raised its price target on the payments processor to $66 from $65. At last check, SQ stock was up 1.8% to trade at $60.71 -- and could be headed higher in the near term, if history is any guide.After topping out at a record high of $69...Read More
Call buying had been very popular on Marvell Technology Stocks have rebounded sharply from their earlier losses, thanks to newfound strength out of the financial sector. Three stocks makingnoteworthy moves aredrug specialist Arsanis Inc (NASDAQ:ASNS), pharmaceuticals distributor Cardinal Health Inc (NYSE:CAH), and semiconductor firm Marvell Technology Group Ltd. (NASDAQ:MRVL). Below, we will take...Read More
We provide lists of the best and worst stocks to own in the third quarterAmazon (AMZN) today announced that it's buying PillPack, a small online pharmacy, sending pharmacy stocks and drug wholesalers into the red. However, if recent history is any indicator, the shares of McKesson Corporation (NYSE:MCK) -- among the worst of the S&P 500 today -- could rebound in the third quarter. Meanwhile, oil p...Read More
Earnings reports will be light next weekAlthough the new month will kick off with a holiday-shortened week, there will be plenty of market-moving economic data for investors to digest. U.S. stock markets will close early on Tuesday, July 3, and will be closed Wednesday for the Fourth of July holiday, but the action will heat up Thursday with the Federal Open Market Committee's (FOMC) June meeting...Read More
Pattern – a downtrend is in progress and I believe a “three strikes and you’re out” low formation is setting up with price currently tracing out its way to the third and final low.Bollinger Bands – price is at the lower band and the question is does price trade down alongside this band or does support come in and send price back up? I lean to the latter. Horizontal li...Read More
CloseGain/LossGold $1248.20-$3.60Silver$16.00-$0.05XAU79.83-0.13%HUI170.52+0.04%GDM609.88+0.24%JSE Gold1023.95-8.92USD95.32-0.02Euro115.66+0.10Yen90.49-0.30Oil$73.45+$0.6910-Year2.840%+0.012T-Bond145.09375-0.1875Dow24216.05+0.41%Nasdaq7503.68+0.79%S&P2716.31+0.62% The Metals: Gold gained $2.40 to $1254.20 at about 9AM EST, but it then drifted back lower for most of the re...Read More
Russia and Turkey's moves out of U.S. debt and into the precious metal could be precursors of a bigger global shift.by Leonid Bershidsky of BloombergU.S. government debt and the world's foreign exchange and gold reserves. Source: BloombergSince December 2017, Russia has cut its holdings of U.S. foreign debt by more than half.Instead, it's been increasing the share of gold in its international re...Read More
It's the gold fund's first "death cross" since the 2016 presidential electionGold prices have taken a hit since the Fed hiked interest rates earlier this month, with the SPDR Gold Shares ETF (GLD) down more than 4% from its June 14 intraday peak at $123.86. Amid this decline, premium on the gold fund's put options has spiked -- a signal that could point to more volatility for the shares.Specifical...Read More
The fund is in the midst of its longest win streak in yearsWhile the major stock market indexes have suffered recently, mostly due to concerns about a global trade war, one exchange-traded fund (ETF) has quietly been on a tear: the Utilities Select Sector SPDR Fund (XLU). In fact, XLU just wrapped up an eighth straight win on Wednesday, marking its longest win streak since July 2016, and retook a...Read More
Tech stocks are trying to recover from yesterday's dipU.S. stocks have overcome early losses to trade modestly higher at midday. Investors continue to react to today's final first-quarter gross domestic product (GDP) reading, while tech stocks try to bounce back from yesterday's slide. The financial sector is also seeing strength, with blue chips JPMorgan Chase (JPM) and Goldman Sachs (GS) helping...Read More
MSG stock hit a record high out of the gateShares of Madison Square Garden Co (NYSE:MSG) are surging, after the entertainment issue said it's board of directors unanimously approved a plan to explore a possible spin-off of its sports business, which includes the New York Knicks and New York Rangers. A bullish brokerage note is only fueling the upside, with MSG stock up 11.5% to trade at $296.95 --...Read More
It is generally agreed that in a Gold BullMarket, the gold producers lead the way, by outperforming gold bullion. To examine this trend we visitStockcharts.com and pull up a chart that compares mining stocks (GDX) to goldbullion (GLD). This index bottomed in March and since thenthe miners have moved ahead of gold bullion. The first hurdle, at the 50DMA (blue line) was overcome in April....Read More
Migration, trade, Brexit and the EU budget - but mostly migration - will be the big talking points at today's EU summit which kicks off in Brussels shortlyContinue...Read More
CMG stock is set for its worst day in months Chipotle Mexican Grill, Inc. (NYSE:CMG) stock is trading lower today, as the company's highly anticipated conference call left investors disappointed. On the call, new CEO Brian Niccol -- who recently said the burrito chain is testing new menu items -- revealed Chipotle will be closing 65 of its underperforming restaurants, and announced plans for in-ap...Read More