Mark Kiesel is thinking of selling his California home and becoming a renter. Families looking to buy a home make want to take heed. Kiesel, who serves as global credit chief investment officer at Pim...
Tag: Metal Ore Mining
‘Buyers of a median-price home are looking at a monthly mortgage payment that is almost 50% higher than it was a year ago.’ The 30-year mortgage rate dips slightly to 5.1%
The interest rate on the country’s benchmark mortgage product edged downward for the first time since early March, but that doesn’t mean the housing market will see a reprieve. The 30-year fixed-rate ...
Cleveland-Cliffs Crushes Earnings Estimates. Contract Steel Pricing Does It.
Rising prices helped steel maker Cleveland-Cliffs report much better-than-expected first-quarter sales and earnings. Prices for Cliffs steel rose even as spot prices for steel dropped in the first qua...
Mortgage rates soar to highest level in over a decade — even wealthy home buyers are feeling the pain
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...
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 ...
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% ...
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%...
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...
‘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...
‘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 ...
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...
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...
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...
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...
Mortgage rates fall amid geopolitical uncertainty. How the Russia-Ukraine crisis could impact home buyers — and interest rates
Home buyers are seeing temporary relief from rising interest rates as markets react to Russia’s invasion of Ukraine. But in the longer term, inflation remains a serious concern. The 30-year fixed-rate...
Rio Tinto to Pay Its Highest-Ever Dividend After Posting Record Profit
Text size Rio Tinto says it will pay a total dividend for the year of $10.40 a share, including a special dividend of $2.47. Photograph by Denis Charlet/AFP/Getty Images Rio Tinto ‘s earnings for 2021...
Rio Tinto to Pay $7.7 Billion of Dividends After Posting Record 2021 Profit
Text size Rio Tinto Photograph by Denis Charlet/AFP/Getty Images Rio Tinto ‘s earnings for 2021 jumped 72% as prices of commodities soared and the world’s second-largest miner said it would reward sha...
Why Barrick Gold’s CEO Is Looking to Boost Its Copper Business
Text size Barrick aims to boost its gold production to 4.8 million ounces annually by the end of decade from 4.4 million in 2021. David Gray/AFP via Getty Images Mark Bristow, the CEO of one of the bi...
Gold Miner Barrick Unveils Variable Dividend That Could Mean a 3% Yield
Text size Barrick Gold produced 1.2 million ounces of gold in the fourth quarter. David Gray/AFP via Getty Images Barrick Gold, one of the two largest gold mining companies in the world, plans to intr...
Lithium Americas Stock Jumps After a Bullish Call
Text size This photo taken on March 12, 2021, shows a worker with car batteries at a factory for Xinwangda Electric Vehicle Battery Co., which makes lithium batteries for electric cars and other uses,...
Cleveland-Cliffs Stock Is Dropping After Earnings
Text size Prices of hot-rolled steel coil, a benchmark for the market, have dropped to $1,135 a ton from $1,900 at the end of the third quarter. Ina Fassbender/AFP via Getty Images Cleveland-Cliffs st...
Canadian pot company BC Craft files for bankruptcy protection as market shrinks
BC Craft Supply Co. shares fell sharply on Wednesday after the Vancouver-based cannabis producer filed for protection from its creditors under Canada’s Bankruptcy and Insolvency Act. BC Craft Supply C...
Here’s one asset in an ‘up crash’ — and the stocks tied to it are lagging behind the move
There always seems to be an unusual commodity that captures the attention of the market. Last year it was uranium, which had both a theme — the need for clean energy provided by nuclear reactors — and...
Bad news for home buyers: Mortgage rates have soared to their highest levels since March 2020
Interest rates are surging on the heels of data showing a concerning outlook for inflation — and home buyers are set to pay the price. The 30-year fixed-rate mortgage averaged 3.45% for the week endin...
Rio Tinto Is Building Its Lithium Business. The Move to Green Energy Will Boost the Stock.
Diversified miner Rio Tinto is pivoting toward clean-energy products. Courtesy of Rio Tinto Text size A fat dividend and a robust pivot toward clean-energy products should make United Kingdom–based di...
‘The Fed might have to really stop on the brakes’: Mortgage rates surge to highest level in over a year
Mortgage rates rose markedly in the first week of 2022 — potentially setting the tone for a year in which economist expect interest rates to move steadily higher. The 30-year fixed-rate mortgage avera...
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...