Traders will dissect Powell's comments for rate-cut cluesThe Dow Jones Industrial Average (DJI) is barreling toward itsthird straight loss, as Wall Street's risk-off mentality endures. Fed Chair Jerome Powell's scheduled testimony in front of the House Financial Services Committee begins tomorrow, where clues about interest rate policy ahead of this month's Fed meeting will be eagerly digested. I...Read More

Shorts may be hedging their bearish bets with call optionsBed Bath & Beyond Inc. (NASDAQ:BBBY) has been relatively quiet on the charts over the past month, per the stock's 30-day historical volatility of 30.6% -- in the tame 22nd annual percentile. However, that could all change once the retailer steps into the earnings confessional after the close tomorrow, July 10, considering BBBY stock has a h...Read More

By: Ira EpsteinThis week is focused on 2-day testimony by Fed Chairman Powell. We will get his views on interest rates. Gold market still in an uptrend, but nearing 18-DMA at $1386.70Read More

There is now a very small section of traders and investors who believe that interest rates may not be cut in end July FOMC meet. Federal Reserve chairman's testimony will clarify on the interest rate cycle. In my view interest rates will be cut this month by 0.25% or something lower as a token and thereafter it can be long pause. Incoming US economic data releases will also determine the interes...Read More

DRI has been climbing the charts over the long termOlive Garden parent Darden Restaurants, Inc. (NYSE:DRI) has been a long-term winner on the charts, and is already up 24% year-to-date. Although the stock suffered an initial post-earnings dip in late June, the stock quickly recovered with help from the rising 10-month moving average. The equity then broke out above a trendline connecting lower hig...Read More

The president is expected to shake up the dialysis marketDialysis concern DaVita Inc (NYSE:DVA) is the worst stock on the S&P 500 Index (SPX) this morning, after Politico said President Donald Trump will announce a shake-up to the kidney care market tomorrow. More specifically, the administration wants to encourage more at-home dialysis treatments and revamp the payment model, sources said. As suc...Read More

The summer months historically present a buying opportunity in precious metals as illustrated in the charts shown below. In the past, there has been a clear change of direction in sentiment annually from the 185-195 day mark – midway in the year. So far this summer, though, gold has broken with tradition by turning in a strong June, as shown in the third chart. “Gold trading usually gi...Read More

Dress like a cow, get free foodAs we talked about in a recent Schaeffer's Stock Market Podcast, restaurant stocks have been extremely strong this year, with names like Starbucks (SBUX), McDonald's (MCD), and Chipotle (CMG) hitting fresh highs. But as many media profiles have noted in recent months, one of America's fastest growing restaurant chains (subscription required) isn't even on the public...Read More

The firm's C-Scan performed well in a final studyBiotech stock Check-Cap Ltd (NASDAQ:CHEK) rallied out of the gate this morning, after the firm announced positive final results for its C-Scan test, used to detect precancerous polyps in patients at risk for colon cancer. CHEK stock surged as high as $2.57 earlier, and was last seen up 6% at $2.31. In fact, the equity is set for its first close atop...Read More

The ratings so far have ranged from neutral to bullishEven after online pet supplies retailer Chewy Inc (NYSE:CHWY) logged an eye-opening trading debut on June 14, industry standards require analysts from underwriting firms to wait 25 days until initiating coverage. That quiet period is now over, and a host of analysts have already come forward with ratings.No fewer than nine brokerages initiat...Read More

The brokerage firm cited an "unquantifiable risk" for the blue chipRBC downgraded 3M Co (NYSE:MMM) to "sector perform" from "outperform," and slashed its price target by $31 to $176. The brokerage firm called several guidance cuts in recent quarters "unsettling," and tapped legal issues surrounding PFAS contamination as an "unquantifiable risk."This skepticism toward 3M stock is shared by other me...Read More

Ball's in your court, Mr. Bezos and Mr. MuskSocial Capital Hedosophia Holdings Corp (NYSE:IPOA), a so-called special purchase acquisition company (SPAC) co-founded bytech investor Chamath Palihapitiya, announced that it's merging with Richard Branson's space tourism company Virgin Galactic to bring the latter to public markets. Indeed, the SPAC was originally created to help private companies byp...Read More

Market fundamentals are unlikely to support the recent rise in ferrous scrap prices, the International Rebar Producers & Exporters Association (Irepas) said in its latest short-range outlook this week.Fastmarkets'  daily scrap index for Northern Europe-origin HMS 1&2 (80:20) imported into Turkey rose to $296.41 per tonne cfr on Monday July 8, up from $292.09 per tonne cfr&...Read More

All eyes are on Fed Chair Jerome Powell's speech this Wednesday Dow futures are signaling another droptoday, as Wall Street exercises caution ahead of Fed Chair Jerome Powell's Wednesday testimony, with hopes of a rate cut weakened by last week's strong jobs data. In addition, 3M Company (MMM) stock is weighing on the Dow, following an analyst downgrade, and Cisco Systems (CSCO) is lower on big M&...Read More

The problematic $30 level could keep the cooler stock frozen until after the early August reportIn the perpetually expanding universe of hipster-friendly initial public offerings (IPOs) -- Uber (UBER), Lyft (LYFT), Beyond Meat (BYND), Slack (WORK) -- the producer of intentionally homely coolers known as Yeti Holdings Inc (NYSE:YETI) is remarkable for any number of reasons. Yeti hasn't been at the...Read More

India's Ministry of Steel is seeking stakeholder feedback by July 14 on a draft steel scrap policy that aims to reduce the country's reliance on imports by establishing a network of recycling centers to collect and process ferrous scrap. The policy framework aims to provide standard guidelines for collection, dismantling and shredding activities in an organized, safe and environmentally sound mann...Read More

Some Egyptian steel mills have appealed against the decision to suspend the safeguard duties on steel billet and rebar taken by the country's Administrative Court last week, Fastmarkets understands.The appeal was made on Sunday July 7 and follow's July 4 court ruling suspending an earlier decision to impose safeguard duties on imports of rebar...Read More

Base metals prices on the London Metal Exchange were mostly directionless in afternoon trading on July 9 due to a stronger dollar index, up 0.13 to 97.50.This mixed consolidation in LME three-month prices has been broadly attributed to weak Chinese equities data and waning macro optimism in anticipation of a United States Federal Open Markets Committee decision on interest rates, expected on July...Read More

NEWS &VIEWSForecasts, Commentary & Analysis on the Economy and Precious MetalsCelebrating our 46th year in the gold businessJuly 2019"There has been a dramatic change in sentiment." - Adrian Day - Michael J. Kosares, USA GoldThe summer months historically present a buying opportunity in precious metals as illustrated in the charts shown below. In the past, there has been a clear change of di...Read More

- David HaggithStock market investors, hungry for more pork, are demanding Fed Chair, Jerome Powell, land on their table on a silver platter with an apple in his mouth at this week's congressional testimony. Will he deliver? Powell has a thin red line to talk, or this overFed market, which he and is cronies have nurtured, dies this week from its own morbid obesity. On the other hand, if he does...Read More