Gregory Mannarino started his financial career working for the securities and trading arm of the now defunct Bear Stearns before the dot-com bubble. He is an active trader of the capital markets and has published several books pertaining to finance, global economics, and equity trading; His most recent book is titled Ultimate Guide To Money and The Markets (free ebook). Gregory currently hosts a b...Read More
WASHINGTON (Reuters) - Several large U.S. retail companies, including Wal-Mart Inc, Target Corp, Best Buy Co Inc and Macy’s Inc, on Monday sent President Donald Trump a letter urging him not to impose massive tariffs on goods imported from China.The Trump administration is said to be preparing tariffs against Chinese information technology, telecommunications and consumer products in an atte...Read More
Facebook stock is spiraling lower amid negative headlinesComing off a week where all three major benchmarks fell at least 1%, Dow Jones Industrial Average (DJI) futures are trading sharply below fair value this morning. Investors continue to monitor any news out of Washington D.C. after last week's White House shake-up -- and following several tweets from President Donald Trump over the weekend ai...Read More
Has the tech stock romp turned into a stomp? Tech stocks are sinking. Facebook has been called out by Snowden as a surveillance site masquerading as a social network. It's good to be liked, isn't it? Hecla mining just made a major acquisition, a bullish trend is starting. More junior acquisitions on the way. John Rubino is the founder and manager of the popular financial website DollarCollapse.co...Read More
ZURICH (Reuters) - Switzerland's highest court has upheld the seizure of $1.85 million in Swiss bank accounts, part of a corruption probe linked to a former Mongolian finance minister who helped clear the way for a disputed Rio Tinto mining project, a ruling showed.The Swiss Office of the Attorney General (OAG) also confirmed it has an ongoing criminal investigation in which prosecutors contend on...Read More
BUENOS AIRES (Reuters) - Worries about the potential for a U.S.-China trade war and frustration over U.S. President Donald Trump’s steel and aluminum tariffs threatened to dominate a gathering of finance leaders this week amid strengthening growth.U.S. Treasury Secretary Steven Mnuchin, who arrives on Sunday in Buenos Aires ahead of a two-day meeting of the Group of 20 finance ministers, wil...Read More
Two SPX trendlines are converging around 2,740, making this a key level for bulls to hold "The SPY again comes into the week just below resistance -- this time from the late-February high, with the round $280 level, which corresponds with the S&P 500 Index (SPX - 2,786.57) 2,800 century mark, residing just above that."The $280 level is also interesting from an options perspective, as we embark upo...Read More
Iron ore prices tumbled on Monday March 19 following big losses in China's steel and futures markets.Metal Bulletin's 62% Fe Iron Ore Index Today: $67.45 per tonne cfr QingdaoDaily change: down by $2.39 per tonneMonth-to-date average: $73.13 per tonneMetal Bulletin's 58% Fe Premium Index Today: $54.58 per tonne cfr QingdaoDaily change: down by $2.33 per...Read More
Toys R Us just joined the unenviable list of top retail failures of the past decade: Circuit City, Linens-N-Things, A&P (the Great Atlantic & Pacific Tea Company), Sports Authority, and Radio Shack (whose downfall we called in 2016).Continue...Read More
SHANGHAI, Mar 19 (SMM) – Nonferrous metals remained weak today but inched up as the market closed. SHFE copper fell 1%, lead and nickel dipped nearly 1%, and zinc edged down. Aluminium remained flat while tin inched up.The ferrous complex fell across the board as iron ore led the slump and closed 4.5% lower. Coke and rebar lost over 2%, hot-rolled coil fell 1.5%, and coking coal ed...Read More
SANTIAGO (Reuters) - The recently inaugurated government of Chile's conservative President Sebastian Pinera is preparing a new law aimed at attracting foreign investments, the mines minister was quoted telling a local newspaper on Sunday.Baldo Prokurica, who took office with Pinera last week, said the government was preparing a decree that would be similar to one repealed by socialist President Mi...Read More
(Kitco News) - Gold prices are modestly down in early U.S. trading Monday. Chart-based sellingpressure is featured to start the trading week, as a near-term price downtrendis in place on the daily chart. April Comex gold futures were last down $2.40an ounce at $1,309.90. May Comex silver was last down $0.042 at $16.23 anounce.Therewas more turmoil in the Trump administration over the weekend, amid...Read More
Several deals were heard secured early last week, after which buying activity in the CIS export billet market faded with downward sentiment starting to spread while prices fell in China."The market got frozen recently [and] people are watching Chinese prices falling significantly," an international trading source told Metal Bulletin.Metal Bulletin's export CIS Billet Index remained largely unchang...Read More
Continue...Mohamed El-Erian is the Chief Economic Adviser of Allianz, a multinational financial services company. He is the former CEO and co-Chief Investment Officer of PIMCO, a global investment firm and one of the world's largest bond funds in the world. Dr. El-Erian also served as a member of the faculty of Harvard Business School. Before joining PIMCO, Dr. El-Erian was a managing director at...Read More
(Bloomberg) - Miners in the Democratic Republic of Congo won't secure substantial concessions in talks with the government about changes to the industry code, the head of the state mining company said.The operators, including Glencore Plc and Randgold Resources Ltd., are pressing the government to row back on some of the reforms President Joseph Kabila signed into law this month. The modification...Read More
Global stocks were in retreat Monday, pulling U.S. equity futures into negative territory, as investors digest a series of major geopolitical developments over the weekend and prep for what could be the first of as many of four rate hikes from the Federal Reserve later this week in Washington. Wall Street is looking at extending last week's losses at the start of trading this week, according to...Read More
Strong global economic fundamentals can limit the rise of gold and silver. Whenever the focus moves away from global economic fundamentals like a Russia-UK/US spat etc. gold and silver will rise. Gold and silver will zoom if there is any clear indication of three interest rate hikes by the Federal Reserve (two after this week's hike). I am hyper bullish in gold and silver on or after July. There...Read More
President Trump's recent cabinet shake-up looks to be a real boost to hard-line militarism and neo-conservatism. If his nominees to head the State Department and CIA are confirmed, we may well have moved closer to war.Before being chosen by Trump to head up the CIA, Secretary of State nominee Mike Pompeo was one of the most pro-war Members of Congress. He has been militantly hostile toward Iran,...Read More
Local rebar and import billet prices in Egypt increased again this week because of strong demand.Beshay Steel began offering rebar at E ?12,996 ($738) per tonne ex-works on Saturday March 17, up from the E ?12,768 per tonne ex-works announced on March 8.The country's...Read More
Global copper production will spike over the next decade as rising prices and increasing demand from the electric vehicles sector encourage project development, a new reports shows.According to analysts at BMI Research, output for the red metal worldwide will grow an average annual rate of 3.6% over 2018 - 2027 thanks to a number of major projects come online, particularly in Peru and Australia....Read More