You may not be aware, but Nucor (NUE ) is the largest mini-mill steelmaker using electric arc furnaces to melt scrap steel to produce its products. So, when people are bringing their scrap metal to junkyards, Nucor is the type of company buying that metal in bulk from the yards to put it through the…
It’s a “King CAD” kind of day in the FX market, with the loonie rallying against all of her major rivals. The proximate catalyst is (wait for it) the latest scuttlebutt about the North American Free Trade Agreement (NAFTA). The currency has been whipsawing back and forth based on the latest NAFTA headlines for months,…
(Audio length 00:09:48) Doc joins me today to comment on the USD and 10-year yield. For the USD we assess if a breakout to the upside is more likely than a breakdown below the 88 level. For yields, Doc continues to think a move higher over the course of the year will happen.
Shares of Continental Resources, Inc. (NYSE: CLR) are receiving a lot of investor interest as of late due to the stock’s 19.1% increase over the last month. Shareholders are now asking themselves whether the company’s current stock price is reflective of its true value or if shares have even further upside from here. Let’s take a look…
Shares of Tesla (TSLA) are on the rise after the electric carmaker reported an uptick in Model 3 output, but still short of CEO Elon Musk’s goal of 2,500 vehicles a week. Tesla also said it will not require an equity or debt raise this year. Following the announcement, Baird analyst Ben Kallo told investors…
Shares of Tesla (TSLA) are on the rise after the electric carmaker reported an uptick in Model 3 output, but still short of CEO Elon Musk’s goal of 2,500 vehicles a week. Tesla also said it will not require an equity or debt raise this year. Following the announcement, Baird analyst Ben Kallo told investors…
The Fed hopes to move contracts to SOFR, away from the volatile, yet massive LIBOR market. First Steps A Libor Replacement Project is underway. Regulators around the globe began work on replacements for Libor, the London interbank offered rate, well before the U.K.’s Financial Conduct Authority sought to put the beleaguered interest-rate benchmark out of its misery….
The Major Markets Index (XMI) has plunged back into its long-term uptrending Andrew’s Pitchfork channel after a January breakout failed to hold, as shown on the monthly chart below. It may be headed back to its next major support level and channel median around 2250. Its momentum indicator uptrend has been broken and is hinting of further weakness ahead on…
While there may have been some confusion whether it was Swedish or Swiss, there was nothing confusing about the precise price where Spotify broke for trading: at precisely 12:43 pm the first trade crossed at $165.90. As such, the world’s most popular music streaming service outdid analysts’ expectations during its Directly Listed public offering – the biggest…
Last week, on-demand shipping startup Shyp Co-Founder and CEO Kevin Gibbon announced that the company is shutting down operations and laying off all employees. This comes after a five-year journey in which it had raised $62 million and had a valuation of $250 million. San Francisco-based Shyp was founded in 2013 by Kevin Gibbon, Jack…
