High prices for everything from groceries to gas aren’t the only things making this year feel like a throwback to the 1980s. After almost a decade of gains, homeownership in the U.S. also has slipped ...
Tag: Mining/Quarrying
Coal Makes a Comeback as the World Thirsts for Energy
An energy-starved world is turning to coal as natural-gas and oil shortages exacerbated by Russia’s war against Ukraine lead countries back to the dirtiest fossil fuel. From the U.S. to Europe to Chin...
Supreme Court Curbs EPA’s Authority. What’s Happening To Energy Stocks.
Text size The Supreme Court ruled the EPA must get clear congressional approval before making sweeping regulations to deal with climate change. George Frey/Getty Images Coal mining and oil stocks were...
3 crucial financial moves to make now after the Fed’s biggest rate hike since 1994
In a matter of months, it’s become more expensive to carry a credit card balance, a car loan or a mortgage as the Federal Reserve’s interest rate hikes have seeped into borrowing costs. It’s tough med...
Yamana Gold Stock Surges on $6.7 Billion Gold Fields Deal
Text size Yamana Gold holders would receive 0.6 Gold Fields share for each share outstanding under terms of the proposed takeover. David Gray/AFP/Getty Images Yamana Gold stock surged on Tuesday after...
Princeton University Discloses Large Stake in Lithium Miner
Text size Students walk on campus at Princeton University. William Thomas Cain/Getty Images Princeton University disclosed that it owned a large stake in an early-stage lithium miner. In fact, Princet...
‘The pandemic boom in home sales is over’: Mortgage rates soar to highest level since 2009 as the Fed pressures the housing market
Mortgage rates are skyrocketing thanks to the Fed, but buyers who can tough out this difficult, changing market will be rewarded. The 30-year fixed-rate mortgage averaged 5.27% for the week ending May...
‘I think we’re in the final innings.’ Pimco’s Kiesel thinks the housing market has hit its top
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...
‘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% ...
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...
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...
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...
Ukraine Invasion Sends Chill Through TSMC Shares
Text size Taiwan Semiconductor Manufacturing saw its share slide Tuesday even as those of most other chipmakers rose. Sam Yeh / AFP via Getty Images Taiwan Semiconductor Manufacturing shares dropped T...
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...
The Gold Rush Is On. It’s Not Too Late to Get In.
Text size Investors can buy a gold exchange-traded fund like SPDR Gold Shares or iShares Gold Trust, which own the precious metal. Chris Ratcliffe/Bloomberg The chase is on. The chase for gold, that i...
After 2 stormy years of ‘moonshot’ house prices, don’t hold out hope for a major correction. Why COVID-era property values may be here to stay.
There is hope for first-time buyers looking to enter the U.S. housing market, but observers say they will have to be patient. After a two-year surge in home prices during the COVID-19 pandemic, the ho...