Trading activity in China's domestic rebar market dropped on Wednesday May 20 after prices rose to their highest since the Chinese New Year a day earlier, but they held up during the day despite the weaker demand.Domestic Eastern China (Shanghai): 3,560-3,590 yuan ($501-505) per tonne, unchangedBuyers cut their procurement rates during the day amid the high prices after seeing rebar futures fluctu...Read More

Amazon and Facebook both grabbed record highs todayThe Dow grabbed a roughly 370 point win on Wednesday, with the rallying tech sector providing a springboard off yesterday's last-minute lows. The S&P 500 and Nasdaq enjoyed sizable gains of their own -- the former clocking its highest close since early March -- as FAANG names Facebook (FB) and Amazon (AMZN) both managed to grab record highs midda...Read More

Clorox increased its quarterly dividend by 5%The shares of Clorox Co (NYSE:CLX) are up 1.4% to trade at $204.45 at last check. The household cleaning stock, rapidly rising on the charts since the pandemic began, has now increased its quarterly dividend by 5%, to $1.11 per share. The company has also partnered with United Airlines (UAL), the airliner saying Clorox products will be used at their hub...Read More

DaVita has broken above its year-to-date breakeven markKidney dialysis provider DaVita Inc (NYSE:DVA) has been on a long-term climb on the charts, and following its mid-March pullback, has broken back above its year-to-date breakeven mark, as well as a trendline connecting lower highs since February. The shares are also seeing support at the 30-day moving average, following a positive earnings rea...Read More

Nvidia will release its first-quarter earnings report after the close tomorrowSemiconductor notable Nvidia Corporation (NASDAQ:NVDA) is chugging higher again today, up 1.2% to trade at $356.57, which is just a chip shot from yesterday's all-time high of $363.50. The equity is pacing for an all-time closing high today, just one day before its first-quarter earnings report, which is due out tomorrow...Read More

AVGO could reclaim a key trendline after next weekMemorial Day weekend is right around the corner, and Schaeffer's Senior Quantitative Analyst Rocky White already gave us the best day to buy stocks during the holiday-shortened week. But what about the best-performing stocks on the S&P 500 for next week? That would be Apple supplier Broadcom Inc (NASDAQ:AVGO), boasting particularly impressive Mem...Read More

The Dow is up over 350 points middayThe Dow Jones Industrial Average (DJI) is up over 430 points midday, as doubts regarding Moderna's (MRNA) vaccine data are overshadowed by the static count in coronavirus cases, despite an ease in country-wide lockdowns. Encouraged by strong retail earnings and a fresh rise of oil prices, the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also eyeing a cl...Read More

The company is returning $43.3 million in coronavirus stimulus paymentsThe shares of CVS Health Corp (NYSE:CVS) are up 0.9% at $64.17 at last check, following news that the company is giving back $43.3 million it received from the CARES Act Provider Relief Fund. CVS chief executive Larry Merlo stated that the CVS did not ask for the funds, and in returning it "we hope to help HHS provide additiona...Read More

The high-carbon and low-carbon ferro-markets in Europe increased in price last week, while industry sources reported around 900 tonnes of done deals in the former and about half of that for more refined-grade material.The high-carbon ferro-chrome price spread narrowed to $0.12 per lb after deals were reported that raised the lower end of the assessment.Deals for around 900 tonnes were reported and...Read More

Johnson & Johnson has held steady during the COVID-19 pandemicThe shares of blue-chip Johnson & Johnson (NYSE:JNJ) are up 0.6% to trade at $149.93, after the company pulled its controversial talc-based baby powder --the subject of lawsuits the last two years -- from U.S. and Canadian markets. Credit Suisse is unfazed by the news, chiming in that it only makes up 0.2% of its North American sales...Read More

By: Ira EpsteinSilver has spent 5 days above its Bollinger band on the daily chart. I give it at 1% chance..Read More

Target and Lowe's reported earnings today, and the results are encouraging Dow Jones Industrial Average (DJI) futures are thriving this morning, almost 300 points above fair value, after the latest earnings reports overshadow uncertainty surrounding a possible COVID-19 vaccine. Investors are encouraged by corporate reports from retail giants Lowe's (LOW) and Target (TGT), with both companies sco...Read More

In my previousarticle, I’ve written about how important US dollar movements arefor future Silver prices. The chances of a significant Silver rally during US dollarstrength is very low; and it is very high during US dollar decline.The structure of the Silver bull marketsince 2001 has a lot in common with that of the 70s bull market. However, oneof the important differences pertains to US doll...Read More

Lowe's first-quarter earnings and revenue exceeded analyst's estimatesLowe's Companies, Inc (NYSE:LOW) followed its sector peer Home Depot (HD) into the earnings confessional this morning, but with much better results. The shares of the retailer are up 6% at $123.90 after the retailer posted a first-quarter profit and revenue beat, and an 11.2% rise in quarterly same-store sales, as stay-at-home o...Read More

Price action before Memorial Day tends to set the tone for the rest of the yearMemorial Day is next week, a time we remember those who have given their lives while serving in the armed forces. For many, it means parades and cookouts over the weekend -- with social distancing of course -- and the unofficial start of summer. For the stock market, it means a shortened four-day trading week. This week...Read More

Nervous investors have been pouring into the goldand silver markets over the past two months. Money Metals Exchange is proud to have helped almost 20,000 newcustomers with a precious metals purchase in recent weeks, many of whom cameover from other dealers struggling with inventory shortages and ridiculousdelivery delays.A new wave of investors is getting the message; the FederalReserve will never...Read More

Whenever one hears the words precious metals, goldand silver spring to mind. But this world is much richer, and preciousmetals don’t end with the yellow or white metal. The less well knowncousins, platinum and palladium, can and do send valuable signals too. Beforewe examine silver, let’s take a look at something interesting in palladium. The interesting detail is palladium’s wea...Read More

Here are five Fastmarkets stories you might have missed on Wednesday May 20 that are worth another look.China will maintain anti-dumping duties on some alloy steel seamless steel pipe imported from the United States and European Union for the next five years, according to the country's Ministry of Commerce.The Beer Institute has opposed a proposal by S&P Platts to impose a floor for the implied du...Read More

Just like the precious metals market, black gold ended the previous week with a sizable upswing. The rally continued in the early Monday trading, as crude oil moved decisively above its previous April highs. The breakout above the April highs is a sign of strength, but it’s not been confirmed so far. Crude oil did close the previous week above the highest daily close of April, but it was jus...Read More

By Dave KranzlerThe chart above speaks for itself. You could not find a more bullish chart set-up in the stock market. Note that the HUI/Dow ration bottomed out in late 2019 at the same level where it bottomed in late 2000. Most investors in this sector were not around for the beginning of the precious metals bull market in late 2000. But you can see the big move that started in 2008 - for which...Read More