RES shares got a rare upgrade todayOilfield services stock RPC, Inc. (NYSE:RES) is trading up 5.9% today at $12.35, thanks to an upgrade to "overweight" from "underweight" at Morgan Stanley. The brokerage firm also lifted its price target to $15 from $11, territory not seen since early November. The bull note is a rarity for RES shares, which right now have just two positive ratings among the ana...Read More

Spanish crude steel production fell to 14.3 million tonnes in 2018, marginally down from 14.4 million tonnes in 2017, according to Unesid, the country's steel association.Domestic steel consumption in Spain rose by 12.6% year on year to 14.3 million tonnes in 2018."This significant rise [in consumption] was influenced by the better market conditions, but also by the notable rise in imports from th...Read More

A historically bullish signal just flashed on the charts for Canopy Cannabis concern Canopy Growth Corp (NYSE:CGC) got off to a hot start in 2019, and is now up 61.1% year-to-date. The equity has taken a breather after bounding up the charts earlier this year, with support at the $42 level serving as a recent floor. While the stock is inching lower today, a historically bullish signal just flashed...Read More

Most analysts are bearish on the utility nameThe shares of PG&E Corporation (NYSE:PCG) are up 2.8% to trade at $19.03 today, after the utility company appointed William Johnson as its new CEO. PCG also said it's reshuffling its board, adding 10 new directors, while seven current board members will step down. In the wake of the news, options traders have taken renewed interest in the beleaguered...Read More

Antofagasta Minerals, a subsidiary of London-headquartered Antofagasta plc, has secured $1.3 billion in financing for the expansion of its Los Pelambres refined copper unit, 300km north of Santiago in Chile.Antofagasta Minerals aims to increase its annual copper concentrate production at the unit by 40,000 tonnes during the first year of operations, ramping up to an extra 70,000 tonnes p...Read More

Strength could beget strength for Wall Street, if past is prologueNot too long ago, we noted the Dow Jones Industrial Average's (DJI) golden cross -- when its 50-day moving average moved back above its 200-day moving average, often seen as a bullish technical indicator. Since then, its fellow stock market indexes, the S&P 500 Index (SPX) and Nasdaq Composite (IXIC), have made golden crosses of the...Read More

Despite JPM's choppy trading, call options are popularBanking giant JPMorgan Chase & Co. (NYSE:JPM) is flat today, trading at $105.39, as Wall Street digests JPM CEO Jamie Dimon's annual letter to shareholders, in which he weighed in on the U.S. education system and higher taxes for wealthy Americans. If history is any guide, though, the Dow stock could find itself in trouble in the near term. T...Read More

The Fed's meeting minutes will also be dissectedMostly subdued on the earnings front, the second week in April will host quarterly reports from big bank Wells Fargo (WFC) and blue-chip giant JPMorgan & Chase (JPM). Also sure to capture headlines will be the House of Representatives Democratic Caucus annual retreat, with Fed Chair Jerome Powell set to make an appearance, and traders will also disse...Read More

Participants in the long steel market in the European Union were hoping for price stability through April after recent sluggish demand and cautious buying activity, sources within the sector told Fastmarkets this week."The Spanish market is weak in price terms but consumption is improving," one trader said. "European mills have been more aggressive [in terms of price] so there has not been much im...Read More

Export prices for CIS-origin billet dipped on Tuesday April 4, due to limited trading activity in outlet markets, sources told Fastmarkets. Fastmarkets' daily CIS export billet index was $442 per tonne fob Black Sea on April 4, down by $3 per tonne.CIS mills have been...Read More

Turkish rebar export prices have decreased over the past week because of the lower bids put forward by prospective buyers, sources said on Thursday April 4.Fastmarkets' weekly price assessment for rebar exports from Turkey was $485-490 per tonne fob on an actual-weight basis on Thursday, falling from $490-500 per tonne fob.Turkish steel producers offered...Read More

By: Adam TaggartI'm always surprised by how few people understand the options for buying precious metals. Even the very affluent.I recently returned from a conference full of highly-qualified investors who "get" the economic risks we discuss here at PeakProsperity.com. And on multiple occasions, I was asked if I could demystify the purchasing process for folks who wanted to build a position in g...Read More

Wall Street is optimistic that an agreement between the U.S. and China is nearThe Dow Jones Industrial Average (DJI) has tacked on more than 140 points at midday, with all eyes on trade talks between the U.S. and China. President Donald Trump is meeting with Chinese Vice Premier Liu He today, and reports indicate he will announce the date of trade talks with Chinese President Xi Jinping this after...Read More

By: David Haggith"The Fed's surprise pivot away from any interest rate increases this year has boosted prices of stocks, high yield bonds and other risky assets in spite of nagging investor concerns about slowing global economic growth..... The quandary for the Fed is that easy monetary policy seems more effective in spurring asset values than it does in boosting prices of goods and services....Read More

The restaurant chain's CEO just announced her retirement The shares of restaurant chain Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) are slipping today, after CEO Denny Marie Post announced her retirement. The announcement comes at a tumultuous time for the burger company, with interim CEO Pattye Moore reporting weak first-quarter comparable-store sales, citing "challenging weather" in the U.S. A...Read More

By Avi GilburtWhile so many were getting so bullish of the metals market over the last few months, my work was telling me that we were not likely going to be seeing a major break out just yet. So, I have been waiting patiently for a good set up for another long trade.But, during my wait, I have seen extremes in sentiment again. At the highs, the extremes were quite bullish. And, now, the fear is...Read More

By: Dave KranzlerThe stock market has been rising relentlessly since Christmas, riding on a crest of increasingly bearish economic reports. Maybe the hedge fund algos are anticipating that the Fed will soon start cutting rates. Data indicates foreigners and retail investors are pulling cash from U.S. stocks. This for me implies that the market is being pushed higher by hedge fund computer algos...Read More

Here are five Fastmarkets MB stories you might have missed on Thursday April 4 that are worth another look.Fastmarkets launched seven new aluminium price assessments on Thursday April 4 - including calcined pet coke, extrusion and flat-rolled products - to expand coverage of the aluminium market from upstream to downstream. With the annual Minor Metals Trade Association conference kicking off...Read More

MO has been strong for most of 2019 Tobacco name Altria Group Inc (NYSE:MO) has been in hot water this week as it manages the fallout over a troubling warning from the Food and Drug Administration (FDA). Yesterday, the FDA reported a potential link between e-cigarettes and an increased risk of seizures for some users. Today Jefferies chimed in, noting that, while somewhat unlikely, the FDA inve...Read More

By: IRA EPSTEINRead More