RECENT Industry RESEARCH
Investors look at events in the US financial sector (XLF) to determine the trajectory of economic growth. Major events this week include four earnings releases and several conferences.
The spot price of 2GB (gigabyte) DDR3 (double data rate 3) DRAM fell 1.7% from $1.05 on February 19, 2016, to $1.03 on February 26, 2016.
The Federal Deposit Insurance Corporation’s quarterly report on the health of the US banking industry said that 4Q15 bank earnings rose 11.9% year-over-year.
Financial stocks and bank ETFs have been the worst performers this year, and the Financial Select Sector SPDR ETF (XLF) is down nearly 5.8% year-to-date.
On February 19, the Financial Select Sector SPDR ETF (XLF) closed at $20.98. This is 10% and 6% below its 100-day and 50-day moving averages, respectively.
With the exception of aluminum and nickel, all base metals gained in the week ended February 6, 2016. On the London Metals Exchange, copper rose for the third consecutive trading week.
Copper started 2016 with a negative tone. It reached a multiyear low price level by mid-January. It’s an extension of the downfall it experienced in 2015.
All base metals except copper rose on the LME (London Metal Exchange) on February 8. Copper fell 0.42% and closed the day at $4,610.5 per metric ton.
Coal took center stage as a major source of energy during the Industrial Revolution, as it provided a cheap source of energy to power steam engines and factory furnaces.
Base metals continued to rise. They traded at higher price levels. On February 4, 2016, all of the base metals rose in the LME (London Metal Exchange).
All base metals except zinc and lead fell on the London Metal Exchange on February 2, 2016. Aluminum had the biggest fall of all base metals on the day.
Base metals showed mixed performance on February 1. On Monday, copper, nickel, and tin fell on the London Metal Exchange, while other metals gained.
In the week ended January 30, 2016, with the exception of nickel, the base metals moved to higher price levels. Base metal miners Rio Tinto, BHP Billiton, Alcoa, and Freeport-McMoRan gained 3.7%, 2%, 6.11%, and 16.75%, respectively, in the last week.
On January 29, 2016, base metals on the LME gained. Base metal miners Freeport-McMoRan, Alcoa, and BHP Billiton gained by 4%, 4.1%, and 0.55%, respectively.
Oil is one of the most important and most frequently traded commodities, and offshore drilling is an integral part of the oil industry.
Base metals broke the rising streak and fell on January 28, 2016. All of the base metals, except for lead, fell to lower price levels.
Base metals continued to rise. They traded at higher price levels. On January 27, except for nickel, all of the base metals gained in the London Metal Exchange.
On January 26, 2016, base metals trading on the LME (London Metal Exchange) surged to high price levels. Zinc was the biggest gainer.
The fourth quarter earnings season for banks kicked off on January 14, 2016. All major banks have reported better-than-expected earnings.
On January 25, 2016, all base metals except zinc in the LME (London Metal Exchange) declined. Nickel was the biggest loser with a decline of 1.7%. Zinc rose 0.33%.