Mortgage rates are soaring, and no one is being spared. The average rate on a 30-year fixed-rate mortgage was 5% as of the week ending April 14, representing an increase of 28 basis points from the pr...
Tag: Basic Materials/Resources
Citi upgrades Wells Fargo, cuts view on five other banks as inflation woes mount
Citigroup analyst Keith Horowitz upgraded Wells Fargo to a buy, reiterated a bullish view on M&T Bancorp and cut ratings on five other banks on Monday. While banks looked poised for outperformance...
Dow falls more than 400 points, Nasdaq finishes 2.2% lower as Treasury yields keep surging
Dow industrials and the S&P 500 index book their biggest one-day declines since March on Monday, with energy, tech and other growth names bearing the brunt, as Treasury yields soared and investors...
Tesla Needs Lithium. Elon Musk Suggests It Could Get Into Mining Business.
Tesla CEO Elon Musk has suggested that the electric vehicle maker might get into the mining business. Patrick Pleul/POOL/AFP via Getty Images Text size Tesla CEO Elon Musk lamented the rising cost of ...
The Chip Sector Has a New Worry in Plant Shutdown for Key PFAS Chemicals
Text size PFAS chemicals are used in the etching process for chip manufacturing. Dreamstime The fragile semiconductor supply chain has one more thing to worry about. Chips have been relatively scarce ...
As mortgage rates surge higher, these home buyers are being pushed out of the market
The steep upward climb in mortgage rates still isn’t showing any signs of stopping. The average rate on a 30-year fixed-rate mortgage was 4.72% as of the week ending April 7, Freddie Mac FMCC, -0.03% ...
Intel CEO Gelsinger’s reaps near-$180 million windfall from ‘significant magnitude’ of new-hire awards
Pat Gelsinger had a very, very good year in 2021. He started the year as VMware Inc.’s VMW, -2.00% chief executive officer, where he took in total compensation of $16.5 million during the fiscal year ...
Mortgage rates zoom past 4.5% — here’s what home buyers need to know
Mortgages rates keep climbing, and that poses a major challenge for families looking to score a deal during the busy spring home-buying season. The benchmark 30-year fixed-rate mortgage averaged 4.67%...
Buy Kellogg and Four Other Food Stocks for Rising Inflation. Two to Avoid.
Text size Beyond Meat patties on a shelf Angela Weiss / AFP via Getty Images Inflation is driving up prices at the grocery store, but rising wages and high savings rates have given consumers some abil...
Hycroft Mining stock’s ‘memester’-induced rocket ride is making AMC a lot of money
Shares of Hycroft Mining Holding Corp. rallied in very active trading Tuesday, as the gold and silver miner enjoyed its new meme-like status, with help from new investor AMC Entertainment Holdings Inc...
Cleveland-Cliffs Stock Will Benefit From Russia’s Ukraine War. Here’s Why.
Text size Cleveland-Cliffs could benefit from a shortage of steel. Sean Gallup/Getty Images Cleveland-Cliffs stock is JPMorgan’s top pick in the steel sector, the investment bank said Thursday, as Rus...
How Putin’s War Made These 3 Fertilizer Producers Hot Stocks
Illustration by Elias Stein Text size Since Russia invaded Ukraine, shares of Saskatoon, Canada’s Nutrien , the Western Hemisphere’s top fertilizer maker, have climbed 37%. The Energy Select Sector SP...
How the U.S. and allies can freeze Russian gold
The U.S. and its allies said Thursday they’re moving to block financial transactions with Russia’s Central Bank that involve gold, aiming to further restrict the country’s ability to use its internati...
‘Mortgage rates are likely to push toward 5% before the end of the year’: Rates soar to highest level in over 3 years, putting pressure on home buyers
Mortgage rates are racing toward 5% as the Federal Reserve’s expected trajectory for future rate hikes becomes clearer. The average rate on a 30-year fixed-rate mortgage was 4.42% as of the week endin...
Fertilizer Stocks Soar on Putin’s War. Proceed With Caution.
Text size Nutrien’s potash mine in Saskatoon, Canada. Potash fertilizer prices have soared by three-quarters this year. James MacDonald/Bloomberg Haven’t earned enough on your oil stocks since R...
‘The housing market is in the early stages of a substantial downshift’: Home sales may drop 25% by the end of summer, according to this analyst. Here’s why.
The popular spring home-buying season is just ramping up. But one analyst is warning that it could be a bust. Ian Shepherdson, chief economist and founder of research consulting firm Pantheon Macroeco...
The nickel market tumult: What investors need to know
Like many other commodities, nickel became a victim of the supply concerns brought on by the Russia-Ukraine war, as a price spike on the London Metal Exchange earlier this month led to the suspension ...
Self Driving Stock TuSimple Jumps On a Kind Of New Buy Rating.
Text size TuSimple provides self-driving technology for heavy-duty trucks Courtesy of TuSimple Shares of TuSimple Holdings , a provider of technology for self-driving vehicles, are up in Thursday trad...
A Food Crisis Is Looming. This Fertilizer Stock Stands to Gain.
Text size The invasion of Ukraine could be one of the most disruptive events in the food and agricultural supply chain in decades. Louai Beshara/AFP via Getty Images Russia’s invasion of Ukraine, its ...
A New Meme-Stock Frenzy Led AMC to Gold Mine Stake
Day traders looking to capitalize on commodity price volatility catalyzed a chain reaction that ended with movie theater giant AMC Entertainment Holdings Inc.’s unusual deal to take a stake in a gold-...
AMC stuns investors with investment in gold and silver mine as it puts $1.8 billion war chest to work
AMC Entertainment Holdings Inc. surprised investors Tuesday with the news of an investment in a gold and silver mine that is well outside of its core cinema business. The company is buying 22% of Hycr...
Dow books fifth straight week of losses as Biden says allies trying to avoid World War III
U.S. stocks closed lower Friday, with all three major benchmarks booking another week of losses, after President Joe Biden called for a suspension of normal trade relations with Russia as part of sanc...
JPMorgan Leads Talks to Contain Nickel Crisis Damage
Some of the world’s biggest banks worked over the weekend to resolve a crisis in the nickel market that leaves them on the hook for billions of dollars owed by a Chinese metals giant. JPMorgan Chase J...
Gold back above $2,000 on Russia-Ukraine war, as annual U.S. inflation rate climbs to a 40-year high
Gold futures climbed back above the key $2,000 mark on Thursday as Russia ramped up its attack on Ukraine and a reading on the annual U.S. inflation rate climbed to a 40-year high. Strength in prices ...
Mortgage rates rise as Russia’s war in Ukraine stokes volatility. Experts say the short-term uncertainty over rates could continue
After two consecutive weeks of declines, mortgage rates have moved higher once again. Where they will go in the short term, though, largely depends on what happens overseas. Mortgage rates could fall ...
12 stocks in clean energy, fossil fuels and uranium expected to keep soaring — up to 79% from here
The tragedy in Ukraine is having an economic effect on people all over the world as energy prices rise and other supply sources are disrupted. For investors, the day-to-day action is unpredictable. Bu...
Google’s $5.4 billion deal for Mandiant could have ‘a major ripple impact’ within cybersecurity
Alphabet Inc. plans to acquire Mandiant Inc. for roughly $5.4 billion in a deal that could unleash a long-awaited consolidation across the cybersecurity industry. The Google parent company announced T...
Yale professor is keeping tabs on companies still operating in Russia despite Ukraine invasion — and the list includes some household names
A Yale professor and his research team are keeping tabs on companies that are still operating in Russia in the wake of its invasion of neighboring Ukraine — and the list includes many household names....
It’s Getting Harder to Trade Russian Stocks. What to Know.
Russia’s largest companies, once worth billions of dollars, are now nearly-worthless penny stocks. It may look like an attractive opportunity, but for the most part investors can’t even chance buying ...
Mortgage rates drop amid increased market uncertainty as Russia’s bombardment of Ukraine escalates
Home buyers will have the chance to lock in low interest rates just ahead of the most popular season to purchase a house. The average rate for the 30-year fixed-rate was 3.76%, down 13 basis points fr...
Can gold rally past $2,000? Precious metal rises as Russia’s assault on Ukraine intensifies
Gold futures settled higher Thursday, resuming their climb as fighting in Eastern Europe intensified, with hope dimming of successful talks to end the Russia-Ukraine conflict. “The Ukraine conflict ha...
Here’s how much a 40-year mortgage would save you each month vs. a 30-year loan. And the ultimate cost.
The U.S. home-financing market has been dominated by the 30-year fixed-rate mortgage loan for decades. Now some key players in the U.S. housing market think it is time to give home buyers the option o...