China's domestic rebar prices were flat on Friday February 14, but export prices continued to drop on participants' bearish sentiment. Eastern China (Shanghai): 3,370-3,400 yuan ($483-487) per tonne, unchanged Northern China (Beijing): 3,420-3,450 yuan per tonne, unchanged The delayed restart to most construction projects due to concerns over the spread of the novel coronavirus (2019-nCoV) is weig...Read More

Key data from the pricing sessions in Europe, Asia and the United States for the week ending Friday February 14.Europe The high-carbon ferro-chome market rose for the fourth consecutive week with some producers reporting a steady recovery in the volume of inquiries they received and prices achieved. Some consumers reported that their use of the spot market was limited, however, because weak demand...Read More

The price of stainless steel flat products in the European domestic market decreased this week because of lower nickel costs and poor demand, sources told Fastmarkets on Friday February 14. Fastmarkets' weekly price assessment of stainless steel cold-rolled sheet, 2mm, grade 304 transaction domestic, delivered North Europe was ?,?2,000-2,050 ($2,172-2,226) per tonne on Friday, down by ?,?50 per to...Read More

An additional 121 more coronavirus deaths were reported todayThe Dow limped into the long weekend with a loss today, after the Chinese National Health Commission reported an additional 121 more COVID-19-related deaths nationwide. The blue-chip index -- although it pared triple-digit losses in late-afternoon trading -- was also pressured by a slew of lackluster economic data, including retail sales...Read More

Apollo Global Management stock has pulled back from its January peakEquity firm Apollo Global Management Inc (NYSE:APO) has struggled to regain momentum after hitting a record high of $52.67 on Jan. 30. Now down 4% year-to-date, APO has pulled back to the 80-day moving average. However, this recent drop may be short-lived, as data from Schaeffer's Senior Quantitative Analyst Rocky White suggests...Read More

The coronavirus outbreak remains a major catalyst on U.S. equitiesIt was an up-and-down week on Wall Street, with momentum largely dictated by the coronavirus outbreak. The Dow rose to record highs when it looked like there was an outbreakslowdown, but pulled back when more cases were reported just one day later. The S&P 500 and Nasdaq logged four-day win streaks earlier in the week and turned in...Read More

Facebook's new app Hobbi will be a direct competitor to Pinterest Social media heavyweight Pinterest Inc (NYSE:PINS) is in focus because of a new product from Facebook (FB) called Hobbi. The app, which was released yesterday, will act as a direct competitor to Pinterest's scrapbook-style format, describing itself as a way to "organize your photos into visual collection and see the progress you're...Read More

A bull signal flashing for MYL could give its recent rally a big boost U.K.-based pharmaceutical name Mylan NV (NASDAQ:MYL) has been in rebound mode these past couple months, bouncing off a familiar floor at the $17 region in late November, and gaining roughly 29% in the months following. While the $23 level is, yet again, trying to thwart the security's recent rally, the EpiPen producer just pul...Read More

Stocks are mostly clinging to breakeven middayThe Dow Jones Industrial Average (DJI) has mostly been clinging near breakeven, as Wall Street turns its attention to a spate of economic data, including core retail sales, which showed clothing-store sales' biggest one-month decline since 2009. Better-than-expected U.S. consumer sentiment for February could be helping offset some of these losses, al...Read More

Wells Fargo is waxing optimistic on the retailer's upcoming earnings reportShares of home improvement retailer Home Depot Inc (NYSE:HD) are up 0.4% at $243.30 this morning, enjoying a fresh bull note out of Wells Fargo. The brokerage firm -- which waxed optimistic about the company's upcoming earnings report on Feb. 25 -- hiked its price target to $265 from $240, a 9.3% upside to last night's cl...Read More

The company cancelled 18 more of its cruises, and lowered its full-year guidance Royal Caribbean Cruises Ltd (NYSE:RCL) has seen a serious tumble down the charts in recent weeks, as coronavirus headwinds continue to slam the travel sector. In fact, the cruise company commented on the immediate economic implications of the deadly virus last night, announcing that it has cancelled 18 cruises, and lo...Read More

EBAY is now up 13% already in FebruaryThe shares of eBay Inc (NASDAQ:EBAY) are up 0.9% to trade at $37.89 this morning, after the company announced it was raising its share buyback plan to $4.5 billion from $1.5 billion. The e-tail icon also disclosed a stronger-than-expected first-quarter guidance for 2020, which prompted a price-target hike from $51 to $47 at Credit Suisse.The triple dose of po...Read More

NVDA is headlining a busy morning for earnings moversU.S. stock futures are trading above fair value this morning, hinting at more record highs for the major indexes and another weekly win. The Dow Jones Industrial Average (DJI) is eyeing a moderately higher open, as traders consider a number of earnings releases this morning. Leading the way is an impressive report from semiconductor company Nvi...Read More

Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 356,53548,56159,263181,629519,420597,427627,244 Change from Prior Reporting Period 626-7,542-1,9494,84310,9473,5201,456 Traders 23268745453311174 Small Speculators LongShortOpen Interest 60,59730,780658,024 -681,9963,452 non reportable positionsChange fro...Read More

By: Ira EpsteinDaily gold chart now back in control of the gold market after a new higher-high. Resistance around $1,592 Bollinger upper band.Read More

2010s have certainly been a roller coaster ride for gold. Will the 2020s then be better than the prior years for the yellow metal? Today’s article provides the macroeconomic outlook for the full decade – learn whether the fundamental factors will become in the 2020s less or more friendly toward gold.People often ask about my economic forecasts for the current year, whether the recessio...Read More

Our Adaptive Dynamic Learning predictive modeling system is suggesting Gold will rally above $1650 within the next 2 to 4 weeks, then settle into a narrow price range above $1600.  If you’ve followed our analysis of Gold over the past few months and years, you already know we expect Gold to rally above $1750 this year and to continue to move higher attempting to breach the $2100 level.&...Read More

China's auto output fell by a third in January in comparison with a year earlier while sales declined by a quarter, according to estimates by the China Association of Automobile Manufacturers. The association, which expects these numbers to worsen in February, said on Thursday February 13 that it had not received data from all the companies it monitors because many of them have yet to return to wo...Read More

Coronavirus, Powell and GoldThe number of cases and deaths by the new coronavirushave escalated quickly. However, the fears subsided and the stock marketrebounded. How did gold perform, and what can we expect from the king of metalsnext?Should We StopWorrying about the Coronavirus?Well, that was a quick escalation. On February 2, whenwe wrote the first Fundamental Gold Report about the coronavirus...Read More

Brazilian car production fell by 3.9% on the year in January, according to figures released by Brazil's national auto association Anfavea late last week.The country produced 191,386 vehicles last month, compared with 199,145 units in the same period a year earlier.Last month's output is 12.2% higher than December's 170,501 units, however. ...Read More