Gold Tops $2400 Amid Rate-Cut Hope: Is the Bull Run Over?
The anticipation of a Federal Reserve rate cut in September has invigorated the gold market, propelling prices above the $2,400 threshold for the first time since May 22nd. This surge followed the release of US Consumer Price Index (CPI) data on Wednesday, which fell short of Wall Street expectations and prompted the market to price in over a 90% chance of a rate cut in September.
Newmont, Eastman Chemical Among Top Quant Picks in Materials as Earnings Loom
Express News | CNBC Halftime Report Final Trades: Pfizer, L3Harris Technologies, VanEck Gold Miners ETF, Invesco S&P 500 Equal Weight ETF
Newmont Analyst Ratings
Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 07/10/2024 34.26% CIBC $46 → $61 Upgrades Neutral → Outperformer 06/26/2024 10.05% B of A Securities $49 →
Red-hot Stocks Over the Past the Week Include TSLA, NVDA, AMD, and Others
Gold Moves Higher as the Dollar Drops After the Fed's Powell Offers Little Detail on Interest-Rate Cuts
Gold traded higher early on Wednesday as the dollar and yields weakened ahead of the second day of Federal Reserve Chair Jerome Powell's congressional testimony.Gold for August delivery was last
Everything You Need to Know on Wednesday: OPEC Data Shows Some Members Still Surpassing Output Quotas
Good morning mooers! Here are things you need to know about today's market:
Australia's H2 2024 Investment Landscape: How to Seize Market Opportunities?
From macroeconomics to sector analysis, guiding your investment strategy for the second half of the year.
Top 2 Materials Stocks You May Want To Dump This Month
As of July 9, 2024, two stocks in the materials sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.The RSI is a momentum indicator,
US stocks hit new highs, with Apple's market cap surpassing Microsoft's, Tesla rising for the ninth consecutive day, silver futures falling by 3% at one point, and French stocks opening high and falling low.
Waiting for this week's US CPI and PPI inflation and Powell's congressional hearing. The New York Fed survey found that Americans' inflation expectations have fallen for two consecutive months, and the market is still betting on two interest rate cuts later this year. The S&P and Nasdaq have hit new highs for at least four days in a row, and Apple's market cap has surpassed Microsoft to become the largest company. Nvidia's increase has been cut in half after a nearly 4% increase, and TSMC briefly rose more than 4.8% in market cap, breaking the $1 trillion barrier. AI concept stocks such as Arm and Oracle also hit new highs and Intel and Super Micro Computer rose more than 6%. The Chinese concept stock index fell 1%, Xpeng Motors fell more than 6%, and Niu Technologies rose 16%. The second round of the French parliament elections unexpectedly ended without any political party obtaining an absolute majority, and European stocks rose but fell in the final session. The euro and French bond yields also opened high
TD, Royal Bank of Canada Mute Declines in Barrick, Newmont, Sending TSX Higher
Canadian stocks gained Monday as the rally in banks offset the declines in energy and metals and mining.
VanEck Gold Miners ETF ( $GDX ) Perfect Reaction From The Blue Box Area.
AngloGold Ashanti Shares Are Trading Lower Amid a Pullback in Gold Prices.
AngloGold Ashanti Shares Are Trading Lower Amid a Pullback in Gold Prices.
Metals & Mining Monitor | Base and Precious Metals Prices Bounce Back; Freeport Cuts Q2 Outlook for Copper, Gold Sales
Base and precious metals prices bounce back; Freeport cuts Q2 outlook for copper, gold.
AU Morning Wrap: Australia Shares Fall as Iron Ore Prices Weigh; Gold Miners Rise
Australia shares fall as iron ore prices weigh; Gold miners rise. Stocks to watch: GQG Partners, HMC Capital, Ramelius Resources.
Optimistic prospects for interest rate cuts have led to a general increase in major overseas asset classes such as US stocks, gold, silver, and crude oil. Weekly report on major overseas assets.
After the release of non-farm data for the week of July 1-5, the US stock and bond markets rose and the US dollar came under pressure. Upon realizing the 'data detail' that the data in the first two months before non-farm was cut by 0.11 million, US bonds sharply rebounded and the yield curve became steeper.
Gold and silver hit new one-month highs! Behind it is not only the boost of non-agricultural employment, but also the "big purchases" of the Reserve Bank of India.
The Non-Farm Payroll report released a significant signal of cooling in the US labor market, with expectations of a Fed interest rate cut rising and the US dollar under pressure. India's central bank gold reserves increased by over 9 tons in June, the highest level since July 2022.
Amidst the low battery prices, hedge funds quietly bought physical cobalt.
This year, the sales of electric autos have been weaker than expected and the cobalt market has experienced a record oversupply, causing spot cobalt prices to drop to a seven-year low. The cobalt futures price, which will be delivered in one year, is already 20% higher than the spot price. A significant spot discount creates opportunities for arbitrage.
The Fed's Ambivalence: What Investors Can Expect from Its Dovish Shift
While the Federal Reserve has kept interest rates unchanged, recently released economic data such as PCE, CPI, and the unemployment rate suggest that inflation is trending in the right direction, leading the market to believe that a cycle of decreasing interest rates will begin soon. However, the debate continues; it's not about "whether or not," but rather "when and how" rate cuts will occur.
Shares of Precious Metals Stocks Are Trading Higher as Gold and Silver Rise Amid a Drop in the Dollar Following Key US Economic Data.
Shares of Precious Metals Stocks Are Trading Higher as Gold and Silver Rise Amid a Drop in the Dollar Following Key US Economic Data.