Turkish pipe export prices have continued to weaken in July on poor demand in the major markets because of the Section 232 import tariff in the United States and an EU safeguard investigation, sources said on Wednesday July 11.Metal Bulletin's monthly export price assessment for EN10219-standard, grade-S235 tube, with 2mm wall thickness, was $620-630 per tonne fob on July 11, narrowing downward fr...Read More
Hertz stock has been trending lower since its mid-October peakCar rental name Hertz Global Holdings Inc (NYSE:HTZ) is selling off today, last seen 3.6% lower at $14.90. This just echoes a broader trend for Hertz stock, which has been unable to stabilize since its mid-October annual peak. And while the stock is currently holding above the $14 mark -- which served as a floor in early June -- a rec...Read More
Oil prices are reeling, despite a steep drop in domestic inventoriesAfter a red-hot start to the week, the Dow Jones Industrial Average (DJI) has surrendered more than 180 points today, as trade war tensions with China rear their ugly head once more. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also in the red, and it appears all three benchmarks will see their four-day winning stre...Read More
(Reuters) - U.S. drugmaker Pfizer Inc (PFE.N) said on Wednesday it would split its business into three units and one of them would include a new hospital business segment.The three new units are innovative medicines, established medicines and consumer healthcare.The company said the innovative medicines business and consumer healhcare would together comprise about three-quarter of its revenue base...Read More
Jack Chan charts the latest moves in the gold markets and sees the potential for a new "bull leg."Our proprietary cycle indicator is now up. The gold sector is on a long-term buy signal. Long-term signals can last for months and years and are more suitable for investors holding for long term.The gold sector is on a short-term buy signal. Short-term signals can last for days and weeks, an...Read More
CloseGain/LossGold $1242.20-$13.30Silver$15.80-$0.26XAU80.98-3.06%HUI174.53-2.88%GDM613.40-2.55%JSE Gold1072.36-5.43USD94.74+0.60Euro116.75-0.72Yen89.27-0.65Oil$70.38-$3.7310-Year2.840%-0.023T-Bond145.46875+0.46875Dow24700.45-0.88%Nasdaq7716.61-0.55%S&P2774.02-0.71% The Metals: Gold dropped throughout most of world trade and ended near its last-minute low of $1242.00 with...Read More
PFE and ABBV are in focusAnalysts are weighing in on big pharma today, with AbbVie Inc (NYSE:ABBV) and Pfizer Inc. (NYSE:PFE) among the names in the spotlight. Attention for the former is more upbeat, while notes for the latter are tilted toward the skeptical side -- even after both stocks' recent run up the charts.Diving deeper, J.P. Morgan Securities said strong quarterly earnings results for dr...Read More
- World Cup weighs nearly 200 ounces (6.17 kilos) and is 18 Karat or 75% pure gold- World Cup's value is just ?140,000 at today's depressed prices- 30% less than England's Harry Kane's weekly wage of ?200,000- World Cup fever takes over England ahead of semi final tonight- World Cup's true value is priceless to players and nationsThe World Cup is worth at today's gold prices a measly ?140,000 (...Read More
Gold can fall first and then rise. Investors will prefer to sit on cash or invest in a safer bond market till a clear picture on the impact of the USA induced trade war is there. Anyways equities offer a much better return than gold in the short term. Risk is much higher in stocks than gold but returns outweigh risk. I again repeat that gold investment is not for a few weeks to a quarter. Gold h...Read More
LONDON (Reuters) - Rupert Murdoch’s 21st Century Fox (FOXA.O) has raised its offer for Britain’s Sky (SKYB.L) in an agreed deal valuing the pay-TV group at $32.5 billion, seeing off rival bidder Comcast (CMCSA.O) for now.Fox, which has been trying to buy the pan-European group since December 2016, offered to pay 14 pounds per share, a 12 percent premium to Comcast’s offer, but be...Read More
BEIJING (Reuters) - China’s exports growth is expected to have cooled only slightly in June, possibly further boosting a trade surplus with the United States in a test for Beijing as it tries to weather a volley of U.S. tariffs on its goods that many fear could harm its economy.The Trump administration on Tuesday raised the stakes in its trade dispute with China, saying it would slap 10 perc...Read More
* Stocks fall, US, German bond yields lower* Germany sells 10-year debt* Italy not considering plan B for euro exit - deputy PM* Euro zone periphery govt bond yields tmsnrt.rs/2ii2Bqr (Updates price action, adds quote, ECB comments, auction)By Dhara RanasingheLONDON, July 11 (Reuters) - Safe-haven bond yields in the euro zone pushed lower on Wednesday as the United States threatened to impose 10...Read More
CRM stock is dodging the tech headwindsSalesforce.com, Inc. (NYSE:CRM) is trading up 0.8% at $143.58, despite the tariff-induced tech-sector headwinds, as the stock this morning saw two different brokerage firms raise their outlooks. Specifically, Oppenheimer and Baird both increased their price targets to $160, which is a 12.3% premium to Tuesday's close and deep in record-high territory. Meanwhi...Read More
LLY has been moving higher since its early May lowsJ.P. Morgan Securities named Eli Lilly and Co (NYSE:LLY) a top pick among pharma stocks, waxing optimistic on the company's early product launch cycles. The brokerage firm also said LLY will see a more modest impact from forex impacts than some of its sector peers -- most notably Pfizer (PFE), which just announced it will be splitting into three...Read More
Argentina's automotive production dropped by 13.40% year-on-year in June 2018, with the sector affected by a national strike and also by protests in neighboring Brazil, according to national automotive association Adefa.Production totaled 39,420 vehicles in June, compared with 45,496 units in the corresponding month last year, Adefa said last week. It was the first monthly decrease of this year in...Read More
TRIP stock has rallied hard in 2018, yet remains underlovedTripAdvisor Inc (NASDAQ:TRIP) stock is up 2.6% to trade at $59.09 this morning, defying broad-market headwinds, after Barclays upgraded the travel name to "overweight" from "equal weight," while boosting its price target by $21 to $70 -- the highest among brokerages in coverage. The analyst at Barclays waxed optimistic on mobile traffic,m...Read More
The U.S. threatened tariffs on an additional $200B in Chinese goodsU.S. stocks are bracing for a lower open, with the focus returning to a U.S.-China trade war. The Trump administration last night released a list of $200 billion worth of Chinese goods that could be slapped with 10% tariffs, sending Dow Jones Industrial Average (DJI) futures almost 200 points below fair value and putting the Dow's...Read More
Brazilian automotive production increased by 21.10% year on year in June, according to the latest figures released by national automobile association Anfavea. Output reached 256,300 units last month, compared with 211,600 units in June 2017, Anfavea said on Friday July 6. Sales to the domestic market reached 202,000 units, up by 3.60% from the 195,000 vehicles sold in June 2017. Exports declined b...Read More
It's been a 100 days since a new high or low from the S&P or VIXNothing exciting is happening right now in the stock market --that's not just an off-the-cuff statement -- I have empirical evidence to prove it. It has been more than 100 trading days since either the S&P 500 Index (SPX) or the Cboe Volatility Index (VIX) hit a 52-week high or low. The last time either of those indexes closed at an e...Read More
The Turkish Steel Producers Association (TCUD) has warned that Turkey may become an open market for dumped steel imports unless swift action is taken by the government. Turkey's steel exports fell by 3.90% to 8.14 million tonnes in January-May 2018, while steel imports increased by 18% to 7.5 million tonnes, TCUD said on Wednesday, July 11. The main reason for the decline in Turkey's steel ex...Read More