SFIX has staged an impressive rebound in OctoberDigital styling name Stitch Fix Inc (NASDAQ:SFIX) is on its way higher this morning, fresh off a bull note out of Telsey Advisory Group. The brokerage firm initiated coverage with an "outperform" rating and $29 price target, saying Stitch Fix's retail and tech strength made it an easy pick. In response, SFIX stock is up 1% at $23.64, at last check.S...Read More

UK and mainland European alloy steel scrap prices fell in the week to Friday October 18, due to the decline in nickel costs and limited trading activity, sources told Fastmarkets this week.Fastmarkets' weekly price assessment for stainless steel scrap 18/8 solids, domestic, delivered merchants UK, was ?760-800 ($879-925) per tonne on October 18, down by ?20 per tonne from ?780-820 per tonne."De...Read More

Option traders could be betting on a breakout Tandem Diabetes Care Inc (NASDAQ:TNDM) has essentially been moving sideways on the charts since February, trading in a tight range around the $60 level with the $55 region serving as support during a few brief pullbacks. This treading has let the closely watched 200-day moving average catch up to the shares, and it's served as a notable floor in the pa...Read More

KO calls were popular in recent daysNear the top of the Dow today sits The Coca-Cola Co (NYSE:KO), up 1.9% to trade at $54.79. This comes after the beverage giant reported third-quarter adjusted earnings of 56 cents, on revenue of $9.5 billion, the latter of which topped the consensus estimate $9.4 billion. The company also upped its full-year guidance, citing increased demand for zero-sugar sodas...Read More

The price of stainless steel cold-rolled sheet in Europe has decreased over the past week under pressure from slow trading, Fastmarkets heard on Friday October 18.Fastmarkets' price assessment for stainless steel cold-rolled sheet, 2mm, grade-304, transaction domestic, delivered North Europe, was ?,?2,300-2,350 ($2,554-2,609) per tonne on October 18, down by ?,?50 per tonne week on week from ?,?2,...Read More

The brokerage firm said share repurchases likely won't offset downside risksMorgan Stanley downgraded Caterpillar Inc. (NYSE:CAT) to "equal weight" from "overweight," and cut its price target to $145 from $150, citing "increasing downside risks" to several of the company's key segments, including construction, energy and transportation. The brokerage firm also expressed concern over swollen dealer...Read More

The apparel company cut its sales forecast for 2019Canada-based apparel manufacturer Gildan Activewear Inc (NYSE:GIL) is eyeing its biggest one-day dip in over 10 years today, down 33.6% at $23.50, after the firm announced its preliminary third-quarter results, projecting a weaker-than-expected full-year sales outlook, and a drop for its third-quarter. The forecast has knocked Gildan to the bottom...Read More

Earnings from American Express and Coca-Cola are in focusDow Jones Industrial Average (DJI) futures are trading modestly above fair value this morning, as Wall Street considers the latest batch of corporate earnings. This morning it's blue chips American Express (AXP) and Coca-Cola (KO) grabbing the attention, with both stocks rising in pre-market trading thanks to upbeat quarterly results. Holdin...Read More

Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 319,37066,34357,254167,700455,975544,324579,572 Change from Prior Reporting Period -15,0137,5233,953-55-22,722-11,115-11,246 Traders 19782875451278195 Small Speculators LongShortOpen Interest 63,06327,815607,387 1,5451,676-9,570 non report...Read More

The gold miners are likely to report blowout profits in this spinning-up Q3'19 earnings season. Higher production, stable costs, and much-higher gold prices should combine for some super-impressive results. That's going to leave the still-undervalued gold miners much more attractive fundamentally, supporting bigger capital inflows and much-higher stock prices. Q3 should prove the gold mi...Read More

Metals investors are positioning themselves for rapidly developing political and geopolitical events, as well as a rapidly expanding Federal Reserve balance sheet. What started out as a limited intervention to provide temporary liquidity to overnight lending markets has morphed into a massive $60-billion-per-month Treasury-buying campaign. By some measures, it's even bigger than the last Quant...Read More

Dave KranzlerLast week the Fed announced that it was going to start buying $60 billion in T-Bills per month at least into Q2 2020. The Fed will also rollover the proceeds as the T-Bill's mature. The rationale was to address the decline in the "non-reserve" liabilities of the Fed. So what are "non-reserve" liabilities? Federal Reserve Notes.The directive as written was "Fed Speak" which mea...Read More

By: Ira EpsteinGold trend turns up if it gets above $1,503. 18 day moving average also at $1,503 area, important resistance area to get above for the gold markets to turn into a more bullish bias:Read More

By: Rick Ackerman, Rick's PicksI like gold here, but I'd like it even more a somewhat lower levels. How much lower? Here are two charts to judge, including one in GLD for those of you who don't trade futures.www.RickAckerman.comRead More

The dollar rate by itself does not determine the gold price.However, the dynamics of the dollar is generally inversely related to the dynamics of gold price.Fundamentally, the current price of gold is quite justified now.Only if the US real rate enters the zone of negative values, there will be a further rise in the price of gold. By and large, the price of gold is influenced by three main factors...Read More

BHP has reported a 9.6% year-on-year drop in metallurgical coal output in the three months to September, a period during which fob Australia prices for premium hard coking coal fell amid Chinese import restrictions and weak demand outside of China.The miner produced 9.35 million tonnes of met coal during the period, which also marked a 21% quarter-on-quarter drop, it said on Thursday October 17. B...Read More

A weakening dollar index has strengthened gold's currency component.Expect gold to respond favorable to the softer dollar in the weeks ahead.A more accommodative Fed policy will also boost gold's attractiveness.Precious metals traders had almost despaired of ever seeing a currency-driven rally in the gold price this year. Yet, for the first time since June, gold finally has the support of...Read More

Members of the incoming European Commission, expected to take office in November, have released more details of a planned "carbon border tax", which could levy charges on metal imports into the European Union. Products affected would be those deemed by the EU as manufactured with excessive carbon emissions. While details of what will be covered, and under what circumstances, will be included in a...Read More

US President Donald Trump said on Monday October 14 that he will impose a 50% tariff on imports of steel from Turkey in response to that country's military actions in northeastern Syria.However, market participants believe such a move will have a minor impact on the Turkish steel sector, because Turkey's steel exports to the United States are already limited because of weak demand.BilletA trader f...Read More

Global scrap prices in all the major markets recovered during the working week ended Friday October 18, boosted by lower material availability and rising Turkish import prices. Turkish import prices up as mills resume November buying US export prices up on bulk sales to Turkey Taiwan import prices up on reduced supply, Vietnam import prices stable Indian import prices up in line with Turkish marke...Read More