The tentative Brexit deal with the EU still needs to go through U.K. parliament The Dow Jones Industrial Average (DJI) is cautiously higher today, as Wall Street digests the Brexit headlines across the pond. The blue-chip index was up triple digits at its session highs, after word of a potential Brexit deal with the European Union (EU) was reached. But the Dow has pared those gainsas the day w...Read More
Data from the major exchanges shows traders were betting bullishly in recent weeksMorgan Stanley (NYSE:MS) is trading up 2.9% at $44.04, thanks to the company's strong showing in the earnings booth. The bank reported earnings per share of $1.27, easily surpassing the average analyst estimate of $1.11, due mostly to its fixed income business. The gap higher for MS shares has them clearing the 200-d...Read More
This is Tesla's longest winning streak everElon Musk and Tesla Inc (NASDAQ:TSLA) got some good news this morning, after the electric carmaker was added to China's government list of approved automotive manufacturers. With the certificate, Tesla can now begin manufacturing in China, and aims to produce 1,000 Model 3s per week by the end of 2019. In response to the approval, Tesla stock is up 1%...Read More
Most analysts are already skeptical of BIIB stockBofA-Merrill Lynch resumed coverage on Biogen Inc (NASDAQ:BIIB) with an "underperform" rating and a $200 price target -- a more than 12% discount to last night's close. The brokerage firm cited increasing competition for the drugmaker's Spinraza, as well as a high risk/reward pipeline.Most analysts are already on the sidelines when it comes to Bioge...Read More
CRUS has been consolidating since its Aug. 1 peak Semiconductor supplier Cirrus Logic, Inc. (NASDAQ:CRUS) is moving 3.7% higher to trade at $56.59 this morning. Behind the lift is a fresh upgrade to "equal-weight" from "underweight" and price-target hike to $55 out of Barclays. The analyst wrote that the firm no longer sees "a catalyst to the downside" and is expecting strength next year on the p...Read More
Prices in the CIS steel billet export market climbed in the week to Thursday October 17 amid reduced availability following last week's sales to the Middle East and Asia (including to China).Fastmarkets' daily steel billet index, export, fob Black Sea, CIS, was $369 per tonne on October 17, up by $5 per tonne day on day.Last week, at least one cargo CIS-origin billet was reported sold to Turkey la...Read More
The firm said it would be partnering with Amazon and Electrify America on expanding its electric car charging options Shares of Ford Motor Company (NYSE:F) are inching higher today, following the firm's announcement that it is teaming up with Amazon's (AMZN) Home Services to install home charging options for its electric cars. The company also unveiled a new public charging network in collaboratio...Read More
Netflix earnings are in focus this morningU.S. stocks are pointing to a positive open this morning. Traders are monitoring a potential Brexit deal between the European Union and the U.K., though it's uncertain if the agreement will pass Parliament this weekend. Back on the home front, earnings remain in focus, with names like Morgan Stanley (MS), IBM (IBM), and Netflix (NFLX) making big moves afte...Read More
A 0.3% contraction in retail sales for September overshadowed several impressive earnings reports The Dow ended slightly lower today, as a surprise 0.3% drop in retail sales for September -- the first dip in seven months -- managed to dampen a relatively solid day of earnings. Re-emerging fears over the U.S.-China trade conflict had markets in a slump today, too, asnews reports cast doubt on China...Read More
The price for steel rebar in Egypt was stable in the week ended Thursday October 17, but the import price for steel billet has increased, sources have told Fastmarkets.Egyptian rebar producers reduced their domestic prices on September 30 and October 9, but have not made any further changes this week.The reason for the earlier falls was that Egypt's prime minister announced a reduction in the cost...Read More
Morgan Stanley slashed its price targets on NOW and WORKThe U.S. stock market is making modest moves this afternoon, quiet after Monday's massive gains on weak retail sales data. Some individual names are making big moves, though, including software stocks Workday Inc (NASDAQ:WDAY), ServiceNow Inc (NYSE:NOW), and Slack Technologies Inc (NYSE:WORK). Here's a quick roundup of what's moving the share...Read More
British ferro-alloys producer FE Mottram, the biggest producer of ferro-titanium in Europe, has restarted production after a fire damaged its plant in April, according to an industry source. The company had intended to restart production in the third quarter of this year. FE Mottram, which is owned by Belgium-based ferro-alloys and metals trader Metraco, stopped production at its plant in She...Read More
COLORADO SPRINGS, CO, Oct. 17, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE - Gold Resource Corporation (NYSE American: GORO) (the "Company") reports record preliminary gold production results for the third quarter ended September 30, 2019 of 11,165 ounces, reflecting the growing gold production impact from its Isabella Pearl mine, located in Mineral County, Nevada. In addition, the Company...Read More
- Avi GilburtWhile we have been tracking the metals market for the next rally set-up, we have seen some signs that the market may attempt to begin that rally sooner rather than later. However, I have to be honest in noting that I am seeing more signs that lower levels may still be struck before we are ready for that rally. So, as I have been saying for the last few weeks, I am going to stil...Read More
By: Ira EpsteinGold has support around $1,470 level. Daily gold chart is in a stall..Read More
Gary Christenson, The Deviant InvestorThe music died many times in the past. To name a few:1929 Market crash1933 President Roosevelt confiscates citizen gold and declares it illegal to own more than a few ounces.1971 President Nixon "closed the gold window" and severed the last link between the devaluing dollar and gold.1987 Stock market crash2000 Stock market and "dot-com" crash2008 Stock marke...Read More
By: Ira EpsteinGold weekly chart 18-Weekly MA near $1,469. Gold bias yesterday went to the downside. Under the 18 day moving average, 1474 area support..Read More
Investors are preferring stock over gold. This has resulted in the correction and not a bear rally. Bear rally will be there if gold does not break $1466 by 15th November. I will prefer to remain on the sidelines in gold today. I will still prefer to use crashes of $100 and more in silver (if any) to invest for the long term. Day traders have to remain on the sidelines in silver. Trump impeachme...Read More
Stainless steel prices in China continued to rise over the past week on higher production costs due to elevated nickel prices.Prices for the alloying metal had remained at relatively high levels following the recent move by Indonesia to bring forward its ban on nickel ore exports to 2020 from 2022."Stainless steel prices have maintained an uptrend despite the recent dip in nickel prices because mi...Read More
Investing.com - Gold prices fell on Thursday in Asia even after weak retail sales data from the U.S. suggested there might be a higher chance of interest rate cuts from the Federal Reserve.Gold Futures for delivery on the Comex exchange were down 0.2% to $1,491.05 by 1:15 AM ET (05:15 GMT).Data showed retail sales in the U.S. fell by 0.3% in September, their biggest drop since last November.Accord...Read More