TWTR's recent pullback could be a buying opportunity, if past is prologueShares of social media concern Twitter Inc (NYSE:TWTR) notched a two-year high of $36.80 on March 14, but have since pulled back to test their rising 80-day moving average. If past is precedent, it could be time to bet on TWTR's next leg higher, as previous retreats to this trendline have had bullish implications for the st...Read More
By Oliver GriffinGlencore PLC (GLEN.LN) said on Thursday that it raised $9.09 billion to refinance its short-term revolving credit facilities, effective from May 24. The Anglo-Swiss miner and commodities trader said that facilities were initially launched at $6 billion but were significantly oversubscribed, raising $9.70 billion, and added that the stronger commodity price environment is what all...Read More
NEW YORK, March 29 (Reuters) - A Federal Reserve policymakersaid on Thursday he expects more interest rate hikes this yearthan he previously predicted, thanks to fiscal stimulus andstronger U.S. economic growth.Philadelphia Fed President Patrick Harker said two morehikes would likely be appropriate this year, after the U.S.central bank raised rates last week. Last month, Harker said heexpected two...Read More
- This is the largest debt issuance since 2008 financial crisis- Trump threatens trade war with its biggest creditor - China- Bond auctions have seen weak demand due to large supply and trade war concerns- $20 trillion mark reached in early September 2017; $1 trillion added in just 6 months- US total national debt level now exceeds $21.05 trillion and is accelerating higher- U.S. debt and dolla...Read More
A government shutdown was averted last Friday when President Trump signed a $1.3 trillion, 2,232-page omnibus bill. The deadline was midnight Friday and Continue...Read More
The export market for CIS-origin pig iron was quiet this week mainly because of the Easter holiday in Europe and the United States, Metal Bulletin has been told.Suppliers were not active in the market due to the additional uncertainty in the scrap market.The only deal heard done in the US this week was when Russian steelmaker Tulachermet sold 35,000 tonnes of pig iron at $420 per tonne cfr. That w...Read More
Cobalt's rise to six-digit territory seems inexorable as the hype around electric vehicle demand for battery materials shows no signs of cooling.Despite a pullback this week, at $95,000 a tonne cobalt is up another 24% in 2018 as it builds on a more than fourfold increase in value from record lows early 2016. Batteries - mainly for cellphones - constitute 55% of cobalt demand at present, but is se...Read More
The brokerage firm is the latest to call for a huge rally from MGEN stockBrokerage firm Jefferies has been weighing in on a number of healthcare stocks this week, predicting big upside for AnaptysBio (ANAB) and Arrowhead Pharmaceuticals (ARWR). This morning, the firm turned its attention to Miragen Therapeutics Inc (NASDAQ:MGEN), initiating coverage with a "buy" rating and $14 price target -- well...Read More
SAO PAULO, March 29 (Reuters) - Equities in Brazil, the onlymajor Latin American market open all day on Thursday, postedtheir biggest intraday gain in three weeks, as a volatile weekregarding international trade and politics gave way to a briefcalm period.Traders consulted by Reuters said they were keeping an eyeon Wall Street, which bounced back on Thursday after a sharpsell-off that was largely...Read More
"There is no hell, there is the disappearance of sinful souls."Continue...Read More
Prices in the light iron scrap market in the United Kingdom edged downward by ?5 per tonne on Thursday March 29, bringing last week's predictions by traders of imminent price falls to reality.Weaker export markets made larger merchants lower their prices, leading to the first drop in prices for four weeks, after three weeks of stability.Metal Bulletin's price assessment for UK grade-5C ferrous sc...Read More
GME stock hit a 12-year low out of the gateShares of GameStop Corp. (NYSE:GME) are plunging, after the video game retailer said it expects total sales to fall 2%-6% this year, and 2018 same-store sales to arrive in the flat-to-5% lower range. This, along with a round of bearish brokerage notes, is overshadowing GME's fourth-quarter earnings and revenue beats, and has the stock trading down 12% at...Read More
SANTIAGO, March 29 (Reuters) - Chile's state copper company Codelco said on Thursday it produced 1.734 million tonnes of copper in 2017, its second highest output ever, despite persistently low ore grades at its aging mines.The world's top copper miner posted a 2017 pre-tax profit of $2.885 billion, a six-fold increase over its earnings in 2016, even as production costs jumped 7.8 percent to $1.35...Read More
SHANGHAI, Mar 29 (SMM) – Nonferrous metals futures rose across the board during the afternoon trading session on Thursday March 29 with SHFE nickel up close to 2% and copper up nearly 1%.Ferrous metals, meanwhile, all closed over 1% higher, except for coke, which was down just over 1%.Copper: The SHFE 1805 contract hit a high at 50,100 yuan/mt today as some investors added to their long bets...Read More
Management teams representing 30 projects picked from the Mining Journal Intelligence database - a list of quality undeveloped assets from more than 2,000 listed companies - will be presenting at the event in London on June 26-27, and they will be looking for investors to back them. While Rule knows exactly what he is looking for in a undeveloped project - several of his current investm...Read More
BRASILIA, March 29 (Reuters) - Brazil's central bank maypause interest rate cuts "for a while" in mid-2018 afterassessing the risks looming 2019, bank chief Ilan Goldfajn saidon Thursday.At its last policy meeting, the bank pointed to a final ratecut in May but minutes from that encounter showed somepolicymakers preferred to keep their options open. (Reporting by Marcela Ayres; Writing b...Read More
The US's debt bubble and potential trade war is worrisome on many levels as the value of the dollar continues to decreaseContinue...Read More
Investing.com - Gold struggled for direction on Thursday, as it struggled to rise from a dampened dollar.Comex gold futures for April delivery slumped 0.15% to a one-week low of $1,322.20 a troy ounce as of 11:40 AM ET (15:40 GMT).The price of the precious metal was lower earlier in the day as the dollar strengthened but sediment was dampened after a flurry of economic data. The U.S. dollar index,...Read More
Miners operating in the Democratic Republic of Congo submitted Thursday a new proposal for the government related to the recently passed new mining code, which substantially increases the cost of doing business in the central African nation.The likes of Glencore, Randgold, Zijin, China Molybdenum and Ivanhoe, among others, are suggesting a sliding scale of royalty rates for key commodities instead...Read More
Starbucks stock has struggled to break out in recent yearsStarbucks Corporation (NASDAQ:SBUX) stock is lower today, down 1.4% at $57.09, after Wedbush downgraded the coffee giant to "neutral" from "outperform," while slashing its price target to $56 from $70. According to the brokerage firm, "We no longer see drivers of upside to same store sales growth and EPS consensus expectations in 2018 and...Read More