In an interview I did last week with USA Watchdog's Greg Hunter, I came across as a lukewarm gold bull. Although many of those who commented apparently agreed with my grim deflationary scenario for the global economy, the negative implications this could have for gold did not resonate with Greg's audience.In fact, I see significant appreciation potential for gold, although not to the celestial...Read More

By: David Chapman Elliott Wave International (www.elliottwave.com) (EW) recently noted an interesting piece of market symmetry in an addendum to its March 2019 Elliott Wave Theorist dated March 26, 2019. We thought it interesting enough to repeat it to the readers of the Technical Scoop. What EW showed was how the topping process of 2018-2019 has mirrored to a "striking degree" the topping p...Read More

By Avi GilburtOne of my members laughingly posted an article in our chatroom entitled "Riding the Bond Rally No One Saw Coming." Were you one of the many who did not see this rally coming? The point my member was trying to make was that while we were preparing for this rally since October of 2018, it seems most of the market was surprised by the rally.Before I address how we have handled the bon...Read More

The market for hot-rolled (HR) and cold-rolled (CR) steel sheet in Russia's Central Federal District around Moscow was strong during the week ended Monday April 1, on seasonally good demand.Fastmarkets' weekly price assessment for Russia-origin 4mm HR sheet was stable at 43,900-44,000 roubles ($668-670) per tonne cpt Moscow on April 1, including 20% VAT."Demand [in the secondary market] remains st...Read More

The shares surged more than 80% in the first quarterMaryland-based orphan disease specialist Cerecor Inc (NASDAQ:CERC) has flown under the radar of analysts. At last Friday's close, just one analyst covered the biopharmaceutical stock, maintaining a "strong buy" rating and $9 price target. Earlier today, though, H.C. Wainwright initiated coverage on CERC stock with a "buy" rating, and $11 price ta...Read More

The equity is on pace to conquer its 320-day moving average todayBerenberg this morning called out United Parcel Service, Inc. (NYSE:UPS) for having a strong global presence, and said it's "increasingly confident that it will deliver margin improvement in both its international business and U.S. this year." As such, the brokerage firm handed UPS an upgrade to "buy" from "hold," and tacked on $5 t...Read More

The market for flat steel exports from the Commonwealth of Independent States (CIS) has softened on improved availability of May-rolling products, sources told Fastmarkets on Monday April 1.Fastmarkets' weekly price assessment for CIS-origin exports of hot-rolled coil (HRC) was $500-515 per tonne fob Black Sea on April 1, down from $510-520 per tonne fob a week ago.Magnitogorsk Iron & Steel Works...Read More

Credit Suisse analysts predict that the U.S. parcels market could double in 5 yearsAt least two brokerage firms discussed Amazon.com, Inc. (NASDAQ:AMZN) in notes this morning. Credit Suisse mentioned the FAANG stock in its write-up on FedEx (FDX), saying the latter can increase profits and market share as it competes with Amazon in delivery. At the same time, the analysts also predicted that the U...Read More

The majority of covering analysts call CVX stock a "buy"The shares of Chevron Corporation (NYSE:CVX) are trading up 1.3% at $124.83, after Morgan Stanley initiated coverage on the oil major with an "overweight" rating and a $146 price target -- an 18.5% premium to last Friday's close. The brokerage firm called CVX low risk, and waxed optimistic on the company's free cash flow and dividend coverage...Read More

MNKD received a $12.5 million milestone payment from United TherapeuticsBiopharmaceutical concern MannKind Corporation (NASDAQ:MNKD) is volatile today, after the company received a $12.5 million milestone payment from United Therapeutics (UTHR). The payment is part of a collaboration agreement -- worth up to $37.5 million in milestone payments for MNKD -- to develop and commercialize MNKD's hypert...Read More

ATVI has struggled to break out, thoughThe shares of Activision Blizzard, Inc. (NASDAQ:ATVI) are up 0.9% to trade at $46.44 this morning, after Wedbush added the video game maker to its "Best Ideas" list. In the note, the brokerage firm believes ATVI could see "significant outperformance" in 2019 and that strength continuing into 2020, when the company could realistically post earnings per share o...Read More

February retail sales data fell short of expectationsDow Jones Industrial Average (DJI) futures are signaling a positive start to a historically strong month, with the blue-chip index set to build on its first-quarter momentum. Encouraging factory data out of China is whetting investors' risk appetite today, with bulls shrugging off an unexpected drop in February retail sales data. Futures on the...Read More

CIS export rebar prices dropped by $10 per tonne week on week on Monday April 1 on subdued demand and a weakening of the Turkish import scrap market.Rebar offers from Ukraine and Belarus varied within the range of $470-475 per tonne fob Black Sea, down from $480-490 per tonne fob a week earlier, sources told Fastmarkets on Monday.Several sources reported a 30,000-tonne CIS-origin cargo being sold...Read More

Traders should watch the VIX 18 level as a warning sign that the massive short futures trade is set to unwindThe first quarter of 2019 is in the books. The S&P 500 Index (SPX - 2,834.40) logged an impressive 13% advance, following a lousy fourth quarter that saw the index lose 14%. In case you missed Schaeffer's Senior Quantitative Analyst Rocky White's Indicator of the Week commentary last Wednes...Read More

Is it time to prepare for the next financial crisis?Something strange is going on in the financial system.And according to The Wall Street Journal, it's causing some investors- including the biggest banks in the world- to move massive amounts of money out of the banking system.What exactly is going on?Former hedge fund manager, Dr. Steve Sjuggerud, one of the most widely-followed financial analys...Read More

Monthly European alloy surcharges for stainless steel products have increased for April because of higher component costs, including those for nickel, molybdenum and ferro-chrome, Fastmarkets heard on Monday April 1.April surcharges for grade-304 cold-rolled (CR) stainless sheets - according to data released by Outokumpu, Acerinox and Aperam - have increased to ?,?1,423-1,430 ($1,596-1,604) per to...Read More

Bitcoin Gold breaks above the trendline resistance supported by the 100 SMA. RSI and MACD indicators are bullish bias. Bitcoin Gold is among the coins that are posting gains on the first day of April. According to FXStreet’s cryptocurrency live rates, BTG/USD is up 4% on the day. The bullish movement comes after Bitcoin Gold spiraled below several support levels at $13.40, and $13.00. The...Read More

Stocks broke above their short-term consolidation on Friday and they got close to the recent local high. The S&P 500 index was the highest since the early October more than a week ago. But then the market traded within a consolidation. Will the uptrend resume today?Briefly:Intraday trade: The S&P 500 gained 0.7% on Friday, after opening 0.5% higher. The market will probably open higher aga...Read More

Here are five Fastmarkets MB stories you might have missed on Monday April 1 that are worth another look.The United States has challenged European Union proposals to label titanium dioxide and cobalt as carcinogens on free-trade grounds. As consumer inventories of cobalt start to run low, their metal restocking alone is unlikely to establish a floor in ailing prices, such is the believed exte...Read More

Stocks and risk-sensitive currencies on the rise Stocks and risk-sensitive currencies on the rise after strong PMI data for China and Japan. The US government Bonds yield with a maturity of more than two years has turned to growth since last week Stocks Stock markets show growth after the release of strong data for China and Japan as their respective PMIs were better than expected which supported...Read More