US consumer confidence climbed to a 17-year high in November.
As the world’s first cryptocurrency, bitcoin has risen more than 1,000% in less than a year. Bitcoin breach $19,000 per coin on December 7 before returning to the $17,000 range.
Gold prices touched an almost four-month low in early December. After breaching $1,300 per ounce in September due to geopolitical tensions, gold prices have mostly been on a downtrend.
As of December 6, 2017, 3M’s (MMM) one-year forward PE (price-to-earnings) multiple was 24.9x compared to its peer Honeywell International’s (HON) multiple of 19.8x.
Among the 14 analysts covering 3M (MMM) stock, 29% have recommended a “buy, 50% have recommended a “hold,” and 21% have recommended a “sell.”
As of December 6, 2017, 3M’s (MMM) dividend yield is ~2%, the lowest in the past four years.
3M (MMM) will pay its final dividend of 2017 on December 12, 2017, to shareholders of record as of November 24, 2017. The dividend will be $1.18 per share.
At 6:30 AM EST on December 7, the West Texas Intermediate crude oil futures for January 2018 delivery were trading at $56.20 per barrel—a gain of 0.42%.
As of December 4, 2017, Westlake Chemical’s (WLK) one-year forward PE (price-to-earnings) multiple is 15.10x.
About 71% of the 17 analysts covering Westlake Chemical (WLK) have recommended a “buy” for the stock, and 24% have recommended a “hold.”
WLK’s dividend yield rose between 2013 and 2Q16, but since then it has been on a declining trend.
Westlake Chemical’s (WLK) 4Q17 dividend of $0.21 represents an increase of 10.2% on a year-over-year basis.
This year, as of December 5, 2017, WLK has risen a staggering 75.8%. It has significantly outperformed the broad-based SPDR S&P 500 ETF (SPY) and its peers.
The effective tax rates of PotashCorp (POT), Agrium (AGU), and Syngenta (SYT), which have their tax bases outside the US, were below the current 35% in the US.
Fertilizer companies based in the US or have most of their sales in the US stand to benefit from the lower taxes.
Since the Senate approval of the tax bill, the S&P 500 Index (SPY) is up by 48 basis points, and the VanEck Vectors Agribusiness ETF (MOO) is up by 74 basis points.
All four miners that we’re covering in this series are trading below their 20-day and 100-day moving averages except Gold Fields.
In this part of the series, we’ll look at the gold-silver spread, the gold-platinum spread, and the gold-palladium spread.
If we look at the YTD (year-to-date) correlations of the select mining shares to gold, there has been a reasonable fall.
In this part of the series, we’ll look at the performances of mining stocks and some important technical details. We’ll also look at call implied volatilities and RSI levels.