U.S.-China trade tensions remain highStocks took a hit in today's low-volume, holiday-shortened session to close out November. The Dow shed more than 121 points at its session lows, as investors unpacked the latest U.S.-China trade tensions and the unofficial kickoff of the holiday shopping season. Despite today's drop, the Dow, S&P 500, and Nasdaq all posted solid weekly wins. And on top of that,...Read More
Stocks notched multiple highs during the holiday-shortened week Despite the week being cut short for the Thanksgiving holiday, there was plenty of action on Wall Street. On Monday, investors cheered comments from China saying it will hike penalties for intellectual property theft, leading the Dow Jones Industrial Average (DJI), the S&P 500 Index (SPX), and the Nasdaq Composite (IXIC) to start the...Read More
Target will kickoffitsCyber Week holiday shopping event one day earlyWith the Black Friday holiday shopping event underway, Target Corporation (NYSE:TGT) is no doubt seeing a boom in store sales today. However, with more of these sales moving online, the big box retailer said it plans to kick off its Cyber Week sales event one day early this year, starting on this Sunday, Dec. 1, instead of Monday...Read More
It doesn't look expensive to speculate on WDC right nowWestern Digital Corp (NASDAQ:WDC) just showed up on our list of best stocks to buy for December, averaging a gain of 5.9% during the month over the past 10 years, closing higher 80% of the time, thanks to data from Schaeffer's Senior Quantitative Analyst Rocky White. What's interesting is that these seasonal tailwinds come as WDC stock trades...Read More
T.A.T is heading for its best day ever after an earnings beatStocks are lower today as Black Friday mania sweeps Wall Street. But among the names bucking the broad market trend and making notable moves higher are Israeli-based industrial company T.A.T. Technologies Ltd. (NASDAQ:TATT) and technology distributor Tech Data Corp (NASDAQ:TECD). Here's a quick look at what's moving the shares of TATT an...Read More
DE stock fell more than 4% in Wednesday's post-earnings sessionAnalysts are chiming in on Deere & Company (NYSE:DE) this morning, after the farm equipment maker's disastrous turn in the earnings confessional on Wednesday. While DZ Bank downgraded DE stock to "sell" from "hold," UBS lowered its price target to $169 from $180. On the flip side, CFRA on Wednesday night raised its Deere price target t...Read More
FB calls at the 200 strike are all the rage latelyThanksgiving is a time to be with family, but when that becomes burdensome, you fire up social media to get out of those unpleasant conversations. Yesterday's respite was likely brief, after Facebook, Instagram, and the messenger app all experienced a holiday outage. Today, Facebook, Inc. (NASDAQ:FB) has restored service, but the stock is down 0.3...Read More
Ulta Beauty stock has struggled in 2019Makeup retailer Ulta Beauty Inc (NASDAQ:ULTA) is trading at breakeven this morning, despite a price-target cut out of Citigroup. The analyst slashed its price target to $240 from $300, though its revised outlook still represents an upside to Wednesday night's close of $233.98. The catalyst behind the bear note is unclear, but it's just another drop in the bu...Read More
AstraZeneca just received more good news from the FDAAstraZeneca plc (NYSE:AZN) is in focus this morning after the Food and Drug Administration (FDA) gave the company's Imfinzi priority review status for small cell lung cancer. Even so, AZN shares are 0.6% lower in pre-market trading after closing Wednesday at $48.77. The lack of strong price action from this news could be because the stock had al...Read More
Dow futures are trading below fair value after a record-setting monthStock futures are in cool-down mode ahead of today's shortened session, following this month's string of fresh highs. Despite this, major equity benchmarks are eyeing impressive monthly gains, with the S&P looking to clock its biggest one-month percentage jump since June. The retail sector is in focus as the Black Friday shopping...Read More
Money manager Adrian Day looks at three junior resource companies whose stocks are down significantly in the past few months, and attributes some of this to tax-loss selling. He also lists a handful of companies he believes are best buys right now. Vista Gold Corp. (VGZ:NYSE.MKT; VGZ:TSX, US$0.59) has published an updated prefeasibility study (PFS) on its Mt Todd project in the Northern Territorie...Read More
By: Ira EpsteinNothing bullish on the daily chart. This could change..Read More
David Becker6 hours ago (Nov 29, 2019 6:52 PM GMT)Gold prices moved higher on Friday, the last trading day of November. For the month the yellow metal declined by 3.2% as riskier assets gained traction. The dollar eased and the Euro moved higher on Friday, paving the way for higher gold prices. The EU reported its preliminary estimate for November CPI which rose more than expected. Germany surpris...Read More
Turkish long steel producer Ko?? Metalurji will resume production at its steel and rolling mills at reduced outputs at the beginning of the December, a company spokesperson told to Fastmarkets on Friday November 29.Ko?? Metalurji had stopped production at all its steelmaking operations on October 1 as a result of weak long steel and billet market conditions .Demand and prices for rebar export...Read More
Christopher Lewis6 hours ago (Nov 29, 2019 6:42 PM GMT)Gold markets have rallied a bit during the trading session on Friday, showing signs of resiliency, and at this point the 38.2% Fibonacci retracement level has been offering quite a bit of support. The $1450 level is a large, round, psychologically significant figure and it is also at the top of the ascending triangle that we had broken out of....Read More
Global scrap prices returned to growth during the week ended Friday November 29, with trading continuing in all the major scrap markets except the United States, which was quiet due to its Thanksgiving holiday,Prices move up in Turkey but trading thinUS market quiet on Thanksgiving holidayIndian market inches up on fresh dealsPrices up in Vietnam on higher transaction pricesTaiwan prices up on sol...Read More
Christopher Lewis8 hours ago (Nov 29, 2019 5:09 PM GMT)Gold markets have fallen initially during the week, reaching down towards the $1450 level, an area that has been important more than once. By doing so, the market looks as if it is ready to turn around and bounce, but we need to break out above the top of the weekly candle from the previous week. Otherwise, if we were to break down below the $...Read More
By: Ira EpsteinNothing bullish on the daily chart. This could change..Read More
The export price for Brazilian steel slabs continued its uptrend during the week ended Friday November 29 with more expensive offers to North America starting to be accepted, market participants told Fastmarkets.Fastmarkets assessed the price for steel slab, export, fob main port Brazil, at $360-380 per tonne on Friday, narrowing upward from $355-380 per tonne a week before. The midpoint was at it...Read More
An overview of the battery raw materials markets and their latest price moves from the past week.Read More