DOCU stock is blazing higher in its Nasdaq trading debutStocks are sticking close to breakeven today, as traders weigh disappointing energy sector earnings against signs of progress toward North Korean denuclearization. Some of the notable names on the move today include industrial metals magnate United States Steel Corporation (NYSE:X), brand-new Nasdaq member DocuSign (NASDAQ:DOCU), and alternat...Read More
Import prices for flat steel in South America have increased this week, due to high-priced offers from China, Metal Bulletin has heard."[Chinese] export offers rose due to rising domestic values," a trader said on Friday April 27.China-origin offers of cold-rolled coil (CRC) were recorded at $680 per tonne cfr in Brazil and at $670-675 per tonne cfr along the region's Pacific coast.Meanwhile, Chin...Read More
SD Friday Wrap: Silver has gone down, gold is pinned down and under fire, and we are losing ground on the battlefield. Here's the situation...Editor's Note: This Friday Wrap was started on Friday at 1:30 p.m. EST and does not include any market/price action after that time.*****The gold to silver ratio is right at 80 again:The good news is that the 50-day moving average is pointing down, and we do...Read More
Gold behaves like a currency. This has extremely important consequence: gold cannot be valued like assets which generate cash flows or even as commodities whose value can be at least estimated looking at the balance of demand and supply. Does it mean that gold is a mere speculation play? No! You have to remember that gold belongs to the currencies. As they have no cash flows, they cannot be valu...Read More
Akamaiis scheduled to report first-quarter earnings after Monday's closeIT services and consulting name Akamai Technologies, Inc. (NASDAQ:AKAM) will continue the theme of tech earnings next week, and is slated to release its first-quarter report Monday evening. AKAM stock has gained 52% over the past nine months, and enjoyed an impressive bull gap in mid-December, after hedge fund Elliot Manageme...Read More
Coated coil prices in Turkey fell this week because of lackluster demand in both the local and export markets, sources told Metal Bulletin on Friday April 27.Domestic pricesOne Northern Turkish producer was offering 0.50mm hot-dipped galvanized coil (HDG) at $780 per tonne ex-works this week.Southern Turkish producers were offering the product at $810 per tonne ex-works this week, down from $820-8...Read More
By Steve St. AngeloThe U.S. gold exports to Hong Kong surged in February consuming nearly all of the domestic gold mine supply. According to the USGS recent Gold Mineral Industry Survey, February gold exports to Hong Kong more than doubled compared to the prior month. This was an interesting increase in gold demand from Hong Kong as the market price increased slightly month over month.Not on...Read More
Global stocks marched higher Friday, following a tech-led rebound on Wall Street, helping set European stocks up for solid early gains as investors cheer a robust week of corporate earnings and an easing of political tensions on the Korean peninsula. Europe's Stoxx 600 index, the broadest measure of share prices, was marked 0.12% higher in early trading as Germany's benchmarks DAX index gained 0...Read More
The S&P and Nasdaq have pulled back despite upbeat tech earningsThe Dow Jones Industrial Average (DJI) is trading lower today, as an Exxon Mobil (XOM) sell-off overshadows well-received earnings from Microsoft (MSFT) and Intel (INTC). In fact, a broader tech rally, highlighted by Amazon's (AMZN) post-earnings record high, has largely lost steam, putting the S&P 500 Index (SPX) and Nasdaq Compos...Read More
Is it Friday again? Must be time for another banking scandal! Seriously- these banking scandals are happening with such regularity and predictability Continue...Read More
By Dimitrios Kontos Glencore PLC (GLEN.LN) said Friday that two of its subsidiaries in the Democratic Republic of the Congo have been served freezing orders over royalty payments, by Ventora Development Sasu. Ventora has served orders against Mutanda Mining Sarl and Kamoto Copper Company for approximately $695 million and $2.28 billion respectively, Glencore said. The orders authorize the commerci...Read More
Some flat steel prices in Turkey's domestic and export markets fell this week, with demand remaining limited, market participants told Metal Bulletin on Friday April 27. Buyers were expecting further price decreases because there has been no sign of an improvement in demand and the products booked now will be delivered in June at the earliest, which is the start of summer holidays in Turkey and it...Read More
Back in 2005 a reporter took a tour of General Motors' headquarters, and in the resulting article one thing stood out: The executives and engineers the reporter interviewed were only modestly enthused about their sedans and sub-compacts. But they really liked talking about their expanded line of Hummers. Then oil spiked and gas prices hit records. And GM's bet on massive gas guzzlers blew up in...Read More
WASHINGTON (Reuters) - U.S. President Donald Trump hailed the historic meeting between North Korean leader Kim Jong Un and South Korean President Moon Jae-in on Friday, even while sounding a note of caution.Kim and Moon pledged to work toward the “complete decentralization of the Korean peninsula,” and to seek to declare an official end to the 1950s Korean War and establish a permanent...Read More
The two oil companies reported first-quarter earnings before the bell this morningEarnings season is powering forward, with the latest batch of reports that came in early this morning including a pair of blue-chip oil concerns. Specifically, Chevron Corporation (NYSE:CVX) and Exxon Mobil Corporation (NYSE:XOM) reported earnings before today's opening bell, but the energy stocks are trading in oppo...Read More
Pan American Silver (TSX: PAA; NASDAQ: PAAS) acknowledged today that it had to suspend operations at its Huar??n mine, located in the Peruvian central region of Pasco.In a press release, Pan American said that activities at the site were halted on April 24, 2018, as a result of road blockades carried out by members of the nearby Huayllay community."The community members have demanded compensation...Read More
All TMX markets, including Montreal Exchange, are experiencing issues with trading, all users are equally impacted and are unable to connect to our Exchanges. We apologize for the inconvenience and continue to investigate. Further updates will be provided.Continue...Read More
By Avi Gilburt & Xenia TaoubinaFor those that have followed the long-term bond market, you have likely seen many analysts attempting to call the top to the market. And, many have even tried multiple times. However, through the years, bonds continued to chug higher and high.On June 27th, 2016, we sent out a major alert to our members entitled "Beware of Bonds Blowing Up." Yes, we took o...Read More
Metal Bulletin reviews the major stories that have affected the steel market over the past week.Iron ore prices ended the week above the $65-per-tonne mark, with most market participants staying away on Friday April 27 to cut their risk ahead of a four-day trading break in China due to a public holiday over the first two days of next week.Meanwhile, India's largest iron ore miner, NMDC, lowered it...Read More
The equity tends to bounce after dips to its 320-day moving averageFast-food titan McDonald's Corporation (NYSE:MCD) is slated to report earnings before the opening bell on Monday. While the shares of the blue chip have struggled in 2018, the stock could be sending up a "buy" signal before earnings, if recent history is any indicator.McDonald's stock recently pulled back to within one standard dev...Read More