Part 1 (part 2 below)Something crazy is hitting the markets. Why can't Johnny sell repos anymore. Has QE4 already started? Has the Fed lost control? Lot's of questions and not many answers. But we do know that gold's quantity is physically limited, while fiat currency knows no such boundaries. The world's awash in sovereign debt with no end in site: until fiscal sanity again prevails, if ever. Thi...Read More
General Electric Co announced it was freezing its pension fund for about 20,000 U.S. employees with salaried benefits as the Pension Crisis continues to build. Its pension Continue...Read More
Investors are now paying for the privilege of lending Greece cash despite its massive debt, high unemployment and weak economic prospects.Continue...Read More
"The problem is the gap between this year and last year is huge. It's like 50% increase in the amount of selling that has to be done."Continue...Read More
Stephen Roach, former Morgan Stanley Asia chairman, and Amb. Robert Holleyman, former deputy U.S. trade representative, join "Squawk Box" to discuss reports that China may be open to a short-term trade deal.Stephen S. Roach, former Chairman of Morgan Stanley Asia and the firm's chief economist, is a senior fellow at Yale University's Jackson Institute of Global Affairs and a senior lecturer at Yal...Read More
"It offers institutional investors a competitive alternative to traditional gold products such as gold ETFs, with the additional benefits of real-time trading and settlement enabledContinue...Read More
Fundamental factors are still in place to push gold prices up, but momentum will not be sustained without price corrections along the way, this according to Peter Hug, global trading director of Kitco Metals."If you use tthe argument based on our global debt, [gold bulls are] right, gold should be higher than where it is at $1,500 and I think the day will come when gold will surpass the 2011 high,...Read More
The CIS export billet price continued to strengthen this week with fresh bookings agreed by customers in Africa at prices higher than those of earlier deals, Fastmarkets has heard.Customers in Egypt and Ethiopia booked a total of 25,000 tonnes of Russia-origin billet through a trader at $356 per tonne fob Black Sea. The price from the mill was estimated to be $354-355 per tonne fob Black Sea, whic...Read More
Prices for steel rebar in Egypt fell in the week to Thursday October 10, while imported steel billet prices increased, sources have told Fastmarkets.Egyptian rebar producers reduced their prices on September 30 and October 9.The reason for these falls was that Egypt's prime minister last week announced a reduction in the cost for natural gas, to $5.50 per BTU from $7.00 per BTU. This will substant...Read More
China's domestic stainless steel prices increased slightly this week on a spike in restocking demand following a national holiday in the country on October 1-7.Fastmarkets' price assessment for stainless steel cold-rolled coil 2mm grade 304 domestic, ex-whs China in the country's major market of Wuxi was 15,800-16,100 yuan ($2,214-2,256) per tonne including value-added tax for the week ended Wedne...Read More
Sector expert Michael Ballanger's take on this week's news from the financial markets informs his most recent investment decisions. It's a funny thing that happens when the stress of financial insolvency bubbles up to the surface. Decisions once considered "routine" (like brushing one's teeth or walking one's dog) suddenly have life-or-death outcomes, complete with cold sweats, sleepless nights...Read More
President Trump and Vice Premier Liu plan on meeting tomorrow, per TwitterThe Dow finished roughly 150 points higher today, extending yesterday's gains on a statement from President Donald Trump that he would meet with Chinese Vice Premier Liu He on Friday, strengthening optimism over an eventual trade deal. This sentiment was buoyed by a report that the Trump administration may be prepared to loo...Read More
Canada-based cannabis name Hexo said regulatory delays are holding up store rolloutsThe U.S. stock market is climbing today on positive U.S.-China trade updates. Not all of the day's action is to the upside though, with the weed sector taking a hit on Hexo Corp (NYSE:HEXO) headwinds, and pot stocks Cronos Group Inc (NASDAQ:CRON) and Tilray Inc (NASDAQ:TLRY) taking notable dives. Here's a closer lo...Read More
SDC stock slipped into single-digit territory for the first time ever earlierIt's been a terrible week for SmileDirectClub Inc (NASDAQ:SDC) stock, which is headed toward its fourth straight loss today -- down 8.3% at $10.06, and earlier sinking into single-digit territory for the first time ever. While one short seller is targeting even more downside for the teledentistry stock, today's options tr...Read More
Technical data is bullish for ABT and BSX Rummaging through our recent technical studies here, courtesy of Schaeffer's Senior Quantitative Analyst Rocky White, we noticed two healthcare stocks flashing bullish signals. Namely, Abbott Laboratories (NYSE:ABT) and Boston Scientific Corporation (NYSE:BSX) are near moving averages that historically have resulted in nice near-term returns. As such, let'...Read More
A bunch of housing data is coming Wall Street's way, tooEarnings season is finally upon us, with the big banks set to kick things off on Tuesday. Several other high-profile names are set to report, too, like Netflix (NFLX) on Wednesday, Intuitive Surgical (ISRG) on Thursday, and Coca-Cola (KO) on Friday. On the data front, manufacturing numbers will be in focus early on in the week, while there wi...Read More
PCG stock is down more than 28% todayPG&E Corporation (NYSE:PCG) stock is spiraling today, down 28.6% at $7.84, on news a federal bankruptcy judge ruled California wildfire victims and PCG noteholders can file a reorganization plan for the embattled utility company -- potentially forcing the two sides to negotiate a settlement, per the order. Separately, the company on Wednesday cut power to rough...Read More
President Trump tweeted he will meet with China's vice premier tomorrowThe Dow Jones Industrial Average (DJI) is confidently higher at midday, as Wall Street digests the latest U.S.-China trade headlines. The blue-chip index was last seen up over 200 points, after President Donald Trump tweeted that he will meet with Vice Premier Liu He on Friday, helping stocks shake off earlier mixed messages...Read More
Last time this technical signal sounded, DocuSign saw major upside The shares of DocuSign Inc (NASDAQ:DOCU) are soaring up the charts this month. The stock hit a one-year high of $67.61 yesterday, and tacked on 32.6% in September following a massive post-earnings bull gap early in the month, and subsequent bounce off its 20-day moving average. The stock is up 0.1% at $67.14, at last check. Even m...Read More
The retailer's new leader was most recently an executive at TargetBed Bath & Beyond Inc. (NASDAQ:BBBY) stock is booming today, up 17.4% to trade at $11.67. This comes in reaction to news the home furnishings retailer tapped Target's (TGT) Chief Merchandising Officer Mark Tritton as its new CEO. An upgrade to "outperform" from "market perform" and price-target hike to $16 from $14 at Telsey Advisor...Read More