California's Energy Commission is expected to approve new energy standards that would legally require solar panels to be placed on top of nearly all new homes in the stateContinue...Read More

The European Commission (EC) said on Monday May 7 it has conditionally approved the acquisition of Italian steel producer Ilva by ArcelorMittal, the world's largest steelmaker.The decision is dependent on the divestiture of an extensive remedy package proposed by ArcelorMittal to preserve effective competition in the European steel market, according to the EC."Today's decision makes sure that Arce...Read More

LONDON (Reuters) - Oil prices hit their highest since late 2014 on Monday, driven by a deepening economic crisis in Venezuela and worries that the Unites States could re-impose sanctions on Iran, while stocks firmed and the dollar surged to another 2018 high.With trading thinned by a holiday closure in London, European shares opened higher, boosted by energy stocks as well as encouraging earnings...Read More

By Avi GilburtWell, everyone else has been calling for a market crash, so I thought maybe I should too. But, while I think the market will likely crash again, I don't think it is going to happen just yet, as I still believe this bull market has several more years to run.When I peruse the articles on Seeking Alpha, it seems to be en vogue today to be bearish. The headline articles discuss how the...Read More

Options trading hints at bullish expectationsCloud stocks Box Inc (NYSE:BOX) and Pure Storage Inc (NYSE:PSTG) are soaring today, with no clear catalyst behind the surge. What's more, call volume is exploding on both, with options traders seemingly betting on more upside for shares of BOX and PSTG. We'll take a closer look at the data on each name below. BOX Bulls Bet on a Breakout to $29Box stock...Read More

The Trump State Department has frozen funding to the controversial Syrian aid group known as the White Hemlets, a non-governmental organization (NGO) Continue...Read More

TECHNICAL SCOOPCharts and commentary by David ChapmanPhone: 416-523-5454 Email: david@davidchapman.comTwitter: @Davcha12May 7, 2018 "This vast empire on which the sun never sets, and whose bounds nature has not yet ascertained" George Macartney, 1773, in the wake of territorial expansion following Britain's victory in the Seven Years' War "Today the sun never sets on American territory, proper...Read More

China's domestic hot-rolled coil prices were mixed on Monday May 7, with the market in the east of the country in positive territory and that in the north, down.DomesticEastern China (Shanghai): 4,200-4,220 yuan ($660-663) per tonne, up 20 yuan per tonneNorthern China (Tianjin): 4,050-4,070 yuan per tonne, down 30 yuan per tonneSpot prices edged up in the eastern market following the earlier gains...Read More

The past few months have seen some unusual, maybe even unique, developments in the gold and silver futures markets, with gold becoming extremely bearish and silver almost ridiculously bullish. Neither imbalance has amounted to much in terms of price action, so it's not clear whether the most recent changes matter. Still, the action in both gold and silver futures remains unusual enough to bear w...Read More

NEW YORK (Reuters) - Billionaire investor Warren Buffett on Monday said buyers of bitcoin, which he has characterized as “rat poison squared,” thrive on the hope they’ll find other people who will pay more for it.Likening bitcoin demand to the tulip mania in 17th century Holland, Buffett, the chairman and chief executive of Berkshire Hathaway Inc (BRKa.N), said the mystique behin...Read More

By Rory HallKen Schortgen, Jr., The Daily Economist, recently penned an article about Nigeria approving a currency swap agreement with China, stating,It has been a little more than a month since China officially began offering oil futures contracts denominated in the Yuan currency, but early results continue to be positive for this contract to over time take more and more market share from the W...Read More

Continue...Michael Pento is a specialist in Austrian economics and is the President of Pento Portfolio Strategies. Prior to starting Pento Portfolio Strategies he served as a senior economist and VP of the managed products division of another well known financial firm. Michael has also created ETFs and UITs that were sold throughout Wall Street. Earlier in his career, he worked on the floor of the...Read More

AAPL stock tends to outperform after lengthy win streaksThe shares of iPhone maker Apple Inc. (NASDAQ:AAPL) skyrocketed last week, thanks to the combination of strong earnings and news of an increased stake by Warren Buffett. The tech titan surged 13.3% last week -- its best week since October 2011 -- and was higher every single session. What's more, strength could beget strength for AAPL stock, i...Read More

By Steve St. AngeloThe switch from Central bank gold sales to purchases had a big impact on the gold market. Precious metals investors fail to realize that Central banks sold a staggering amount of gold into the market up until 2009. It's also quite interesting that Central banks became net purchasers after the 2008 Market meltdown.There's been a lot of speculation as to why the Central bank...Read More

ROME (Reuters) - The prospect of an election re-run in July grew on Monday as Italian President Sergio Mattarella held a final round of consultations to try to break two months of political deadlock with party leaders still far apart.The leaders of the two parties with most parliamentary seats, the anti-establishment 5-Star Movement and the far-right League, suggested an election should be held on...Read More

Ferrous futures in China posted further gains during morning trading on Monday May 7 amid spot price increases and China opening up iron futures on the Dalian Commodity Exchange to overseas traders last Friday.Futures closing prices - morning session Shanghai Futures Exchange October rebar: 3,679 yuan ($578) per tonne, up 44 yuan per tonneOctober hot-rolled coil: 3,765 yuan per tonne, up 44 yuan p...Read More

The US economic expansion that began in mid-2009 has been much weaker than average, but, as indicated by the chart displayed below, it is also much longer than average. In fact, it is simultaneously the weakest and the second-longest expansion on record. Due to the advanced age of the expansion and the signs of weakness that have appeared over the past three months in economic statistics and the...Read More

Continue...David Stockman is a former Republican congressman from Michigan and was President Reagan's budget director from 1981 to 1985. After leaving the White House, Stockman became a managing director at Salomon Brothers, and he later founded a private equity fund. David is the founder of David Stockman's Contra Corner, and he is the author of The Great Deformation: The Corruption of Capitalism...Read More

SHANGHAI, May 8 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index climbed up towards 93 overnight, hitting a fresh high this year as the market maintained an upbeat outlook on the US economy and anticipated the Federal Reserve Board’s interest rate hikes. It closed at 92.76, up 0.22%.Most SHFE metals fell with nic...Read More

The Dow stock has a history of muted earnings reactionsWalt Disney Co (NYSE:DIS) is scheduled to report fiscal second-quarter earnings after the close tomorrow, May 9. The Dow stock has a history of relatively muted post-earnings price action, averaging a next-day move of just 2.2% over the past eight quarters. This time around, the options market is pricing in a bigger-than-usual swing of 6%, per...Read More