Key data from Fastmarkets' pricing session in Europe on Wednesday December 4.Key drivers The scrap markets were down in the past week, with supply offer prices dropping against slowing demand in the run-up to year-end holidays. Metals producers typically run down their feedstocks in December, a time usually set aside for book-squaring, banking profits and settling accounts. The alloy market...Read More
The company will use the proceeds to explore its Nevada asset. Newrange Gold Corp. (NRG:TSX.V; NRGOF:OTC) announced in a news release it closed the sale of its Yarumalito gold project in Colombia to GoldMining Inc.The divestment afforded Newrange undiluted funds for exploring its flagship Pamlico project in Nevada and a 1% net smelter return (NSR) royalty on Yarumalito. The transaction also "pave...Read More
The $6 million facility is available to the Vancouver-based firm until Nov. 29, 2021. Ely Gold Royalties Inc. (ELY:TSX.V; ELYGF:OTCQB) announced in a news release it closed the transaction for a $6 million revolving line of credit from a company controlled by Eric Sprott, 2176423 Ontario Ltd.The Canadian royalty firm intends to use the financing primarily to acquire additional producing or near-p...Read More
In the arrangement, the company will garner a 1% net smelter return royalty. Liberty Gold Corp. (LGD:TSX; LGDTF:OTCQB) announced in a news release it agreed to sell its 79.1% interest in the Kinsley Mountain gold project in northwest Nevada to Barrian Mining for a total consideration of $7.5 million.Liberty Gold will receive the purchase price from Barrian in three tranches over two years. The fi...Read More
Hollow steel sections prices moved up across Europe over the past week due to increases in feedstock costs, market sources told Fastmarkets on Wednesday December 4.Fastmarkets' weekly price assessment of steel sections (medium), domestic, delivered Northern Europe, was ?,?590-600 per tonne ($653-664) per tonne on Wednesday, up from ?,?580-590 per tonne a week earlier."I see some price lists coming...Read More
A Bloomberg report said the U.S. and China could be closer to a trade deal The Dow snapped its three-day losing streak today, after a report from Bloomberg suggested the U.S. and China could reach a "phase one" trade deal sooner than investors previously believed. U.S. President Donald Trump also changed his tune, following yesterday's comments that he would hold off on an agreement until after th...Read More
JBLU calls are crossing at 179 times the average intraday pace todayCall volume is running quick on JetBlue Airways Corporation (NASDAQ:JBLU), with more than 98,250 contracts on the tape so far -- 179 times what's typically seen at this point in the session, and easily eclipsing the previous 52-week peak of 27,872 calls traded in a single session, set on May 16. By comparison, around 2,200 puts ha...Read More
USO calls have reigned in popularity for some time nowAs oil prices rally today, the Organization of the Petroleum Exporting Countries (OPEC) will hold its bi-annual meeting in Vienna, Austria this Thursday. Ahead of the event, options traders are targeting the United States Oil Fund (USO), with bulls betting on a bigger move from the oil-focused exchange-traded fund (ETF). More specifically,...Read More
January crude futures are up more than 4% Stocks are recovering some of yesterday's massive losses, thanks to more vague trade headlines pointing to progress in U.S.-China trade talks. The Dow Jones Industrial Average (DJI) is comfortably in triple-digit territory, while a big day from the energy sector has the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) higher as well. This comes as oil price...Read More
The 110-strike call is popular in EXPE's options pits todayExpedia Group Inc (NASDAQ:EXPE) stock is up 6.5% today to trade at $105.89, on news the online travel company's CEO and chief financial officer have stepped down amid a disagreement with the board over business strategy. This follows the stock's devastating reaction to Expedia's third-quarter earnings report last month, and has options tra...Read More
Salesforce.com posted third-quarter results that exceeded estimates Salesforce.com, Inc. (NYSE:CRM) took its turn in the earnings confessional this morning with some interesting results. CRM posted $4.51 billion in revenue, which shot up 33% since this time last year, and an earnings of 75 cents per share, both of which exceeded analysts' expectations. However, the firm slashed its fiscal fourth-q...Read More
Puts have risen in popularity today in responseThe shares of Workday Inc (NASDAQ:WDAY) are down 5.2% to trade at $164.48 today, despite the software company reporting adjusted third-quarter earnings per share of 53 cents and $938.1 million in revenue, both of which topped analyst forecasts. Instead, Workday's weaker-than-expected 2020 fiscal outlook and subpar 2021 subscription revenue forecast i...Read More
Bulls were targeting the $4 levelGoPro Inc (NASDAQ:GPRO) just gave an update for Black Friday and Cyber Monday, saying its Hero8 Black "sold at record levels." GPRO shares have popped 6.4% out of the gate to trade at $4.11, but while they've taken back the $4 level, they're already back below the 50-day moving average. Still, the move may be enough for recent options traders.Jumping in, data from...Read More
UNH has been bounding higher on the chartsMere days off reporting its 2020 full-year forecast, UnitedHealth Group Inc (NYSE:UNH) is shifting higher this morning, after a fresh round of bull notes from brokerage firms. No fewer than three analysts have hiked their price target on the Dow name, including BMO Securities to $310, Credit Suisse to $320, and Piper Jaffray to $325. Coming into today, UN...Read More
A C-suite shakeup has GOOGL in focus todayAfter the market spent the last three days swimming in red ink, Dow futures are poised for a triple-digit bounce-back today. A Bloomberg report cited sources that claimed the U.S. and China were making progress toward a "phase one" deal, assuaging concerns that tensions between the two sides had intensified. Elsewhere, investors are unpacking the latest A...Read More
Technically, stocks aren't as expensive as they were during the tech bubble, when compared to other commodities Here's a blast from the past. Remember when gold had 12 straight years of positive returns from 2001 through 2012? Not only that, it outperformed the Dow in ten of those years. When the Dow began making new highs in 2013, it was still down 75% when priced in ounces of gold. Some people m...Read More
By: Ira EpsteinGold had a big rally and getting up to key resistance spots. Lots of Tariff news:Read More
Relations between USA-China is moving from bad to worse. USA is interfering with Chinese sovereignty be it Hongkong or the South China Sea or Chinese dealing with Muslim minority. Gold and silver will remain firm as a result of this. Correction will be there if various US jobs numbers (release begins from today with November private ADP) beat street expectations. U.S. President Donald Trump warn...Read More
Brazilian iron ore exports totaled 27.25 million tonnes in November 2019, a 19.8% year-on-year decrease from 33.97 million tonnes, data from the country's ministry of economy showed on Monday December 2.Shipment volumes also fell by 18.3% in comparison with 33.35 million tonnes during October 2019, according to the ministry.Figures from October were revised upward after the foreign trade secretari...Read More
Demand for flat steel products in Turkey was strong in November because of purchases for re-stocking, market participants told Fastmarkets on Wednesday, December 4.Local producers have now filled their order books until late February, sources added, and have started to accept orders for early-March production.Local demand was weak in Turkey in October because of decreasing prices, but improved in...Read More