Val Kensington
Disclosure: I am in full compliance with all ethics and other policies for Market Realist research analysts. I am not invested in securities that I cover on Market Realist.
More From Val Kensington
Gold and Silver Fell on July 22
At 2:50 PM EDT on July 22, precious metal producers Barrick Gold (ABX), Newmont Mining (NEM), and Royal Gold (RGLD) gained ~1%, ~2.0% ,and ~0.77%, respectively.
S&P 500’s Top Losses: Why Biogen Declined
Biogen, which is an American multinational biotechnology company, was the S&P 500’s top loss on June 18.
Copper Weaker on August 19 Due to Weaker Demand Signs
After starting the day with decreased momentum, copper prices remains mixed on Friday, August 19. At 1:50 PM EDT on August 19, the COMEX copper futures contract for September delivery was trading at ~$2.17 per pound, a gain of ~0.16%.
All of the Base Metals Recovered Except for Tin
After a string of losing days, base metals recovered on January 13, 2016. Except for tin, all of the base metals rose on January 13 in the LME.
Commodities Are Mixed in the Early Hours on March 19
At 6:05 AM EST on March 19, the West Texas Intermediate crude oil futures for May 2018 delivery were trading at $62.20 per barrel—a drop of 0.34%.
Base Metal Miners Recover
In the week ended December 26, the equities of all major base metal miners gained, recovering from losses in the week prior.
Copper Rose to 1-Month High Price Levels on September 20
At 1:15 PM EST on September 20, the COMEX copper futures contract for December delivery rose ~0.35%. It was trading at $2.16 per pound.
Gold Rose amid Increased Demand for Safe-Haven Assets
These economic concerns and monetary stimulus expectations have decreased the probability of an interest rate hike by the US Federal Reserve, and the chances of an interest rate hike in July dropped to zero.
Copper Weakened amid Recovery in Dollar on August 3
After starting the day on a weaker note on Wednesday, August 3, copper maintained the same sentiment throughout the day and declined lower.
Copper Remains Stable as Brexit Fears Eased
Although the fundamentals are not as supportive of the Market’s sentiment, the weakness of the dollar and decreased anxiety over the Brexit vote helped copper on Friday.
Best Buy Was the S&P 500’s Top Gainer on May 25
Best Buy rose to record high price levels on May 25. Despite prevailing weakness in the retail sector, Best Buy posted upbeat first quarter results.
Copper, Gold, and Silver Are Trading Lower on Thursday Morning
Copper is trading lower on Thursday. At 6:36 AM EST, the COMEX copper futures contract for July delivery was trading at $2.06—a decline of 1.1%.
Why Did Copper Ignore Stimulus from China?
Copper prices experienced a roller coaster ride on Monday after important market-moving news from China.
Base Metal Miners Declined the Week Ended January 2, 2016
The equities of major base metal mining companies fell in the week ended on January 2. Freeport-McMoRan, one of the leading copper producers, fell last week and ended in a loss.
Base Metal Miners on Tuesday, March 22: Some Up, Some Down
Freeport-McMoRan (FCX), one of the largest copper miners, rose for the second consecutive trading day on Tuesday, March 22, 2016. It closed the day at $10.99, a rise of 1.8%.
Why Did Merrill Lynch Resume Coverage of Freeport-McMoRan?
On Wednesday, March 2, 2016, Merrill Lynch resumed Freeport-McMoRan’s (FCX) coverage, with a neutral rating and a price target of $9.
Base Metal Miners Freeport-McMoRan and Glencore Fell Last Week
Freeport-McMoRan is one of the largest copper miners in the world. It fell for the second consecutive trading week. In the week ending on April 2, it fell 2.2%.
Gold Trading around $1,300, Silver Declines
At 8:45 AM Eastern time, gold futures contracts for June delivery were trading at $1,298.75 per ounce, a gain of 0.23%. Silver was trading at $17.59 per ounce, a loss of 0.37%.
S&P 500’s Top Gainers: FLIR Systems Rose to Record Highs
FLIR Systems was the S&P 500’s top gainer on July 25. FLIR Systems opened higher on July 25 and rose to record high price levels.
European Markets in the Morning Session on February 5
At 5:05 AM EST on February 5, the DAX Index was trading at 12,728.08—a drop of 0.45%. The iShares MSCI Germany (EWG) fell 2.42% on February 2.
European Markets Are Mixed Early on July 20
At 4:45 AM EST, the FTSE 100 Index was trading at 7,701.14 with a gain of 0.22%. EWU fell 0.43% to $34.49 on Thursday.
Why Is Gold Struggling at a 1-Week Low on August 8?
At 2:40 PM EST on August 8, the COMEX gold futures contract for December delivery was trading at $1,341.35 per ounce—a drop of ~0.23%.
Copper, Gold, and Silver Are Stable Early on October 7
At 6:35 AM EST on October 7, the COMEX copper futures contract for December delivery was trading at $2.15 per pound—a fall of ~0.12%.
Crude Oil Continues to Trade Higher This Morning
Crude oil continues to trade higher due to positive sentiment surrounding the crude oil market. At 7:38 AM EST, WTI crude was trading at $44.88 per barrel.
Why Did Base Metals Fall in the Second Week of March?
LME nickel fell to lower price levels last week and stood as the biggest loser in base metals. It fell 5.5% and ended the week at $8,830 per metric ton.
Base Metals Dive after Opening the Week on a Surge
All base metals declined that day on the LME, and LME nickel was the biggest loser of the day in base metals with a decline of 2.8%.
Why Is Gold Trading at Its Lowest Price Levels in 3 Weeks?
The market is anticipating the speech by the Federal Reserve chair, Janet Yellen, at the annual central bankers meeting to be held in Jackson Hole, Wyoming, on August 26.
Why Is Copper Trading High in the Early Hours on September 14?
At 6:20 AM EST on September 14, the COMEX copper futures contract for December delivery was trading at $2.13 per pound—a gain of ~1.2%.
Base Metals Continue to Rise in the London Metal Exchange
The base metals found some relief on January 13, 2016. They carried the same positive sentiment to January 14. All of the base metals rose in the LME.
Copper Dove in July 22 Due to a Stronger Dollar
At 1:15 PM EDT on July 22, major copper producers Freeport-McMoRan (FCX), Billiton (BHP), and Rio Tinto (RIO) fell by ~1.7%, ~1.7%, and ~1.19%, respectively.
S&P 500, NASDAQ, and Dow Started the Week on a Weaker Note
The S&P 500 started March 6 on a weaker note and maintained the weakness throughout the day. The S&P 500 VIX Index measures uncertainty in the market.
Costco Rose, Citigroup Upgraded the Stock
The S&P 500 Consumer Staples sector rose 0.15% on December 19. Costco Wholesale (COST) and Altria Group (MO) were the top performers.
Harris Corporation: S&P 500’s Top Gainer on January 30
Harris Corporation was the S&P 500’s top gainer on January 30. On January 30, Harris Corporation gained 6.2% and closed the day at $156.31.
Asian Markets Are Strong amid Holidays
The Hang Seng Index gained 1.8% and closed the day at 30,828.00 on April 30. The iShares MSCI Hong Kong (EWH) gained 0.39% on Friday.
Why Did the S&P 500, Nasdaq, and Dow Fall on January 17?
The S&P 500 Index started January 17 on a stronger note, but it wasn’t able to hold the strength due to risk aversion at the beginning of the week.
Biogen: S&P 500’s Top Loser on January 8
Biogen was the S&P 500’s top loser on January 8. Biogen regained strength last week and rose to ten-week high price levels.
Nucor and Acuity Brands Fell on December 14
After gaining for three consecutive trading weeks, Nucor started this week higher but lost upward momentum as the week progressed.
Why Are Asian Market Strong on June 6?
On June 6, the Shanghai Composite Index closed at 3,115.18—a gain of 0.03%. The SPDR S&P China (GXC) gained 0.2% on Tuesday.
How Were Copper, Gold, and Silver Trading on Monday?
China’s better-than-expected growth in real estate investments in April supported copper prices on Monday.
Why Did Transocean Report Weak Quarterly Results?
Transocean, one of the world’s largest offshore drilling contractors, rose to one-week high price levels on Friday. It’s focusing on cost-cutting measures.
European Markets Are Weak amid Increased Caution
At 4:45 AM EST today, the FTSE 100 Index was trading at 7,576.18—a gain of 0.12%. EWU gained 0.08% to $36.1 on Monday.
Performance of Companies in Energy and Mining Sectors on September 21
The companies in the energy sector gained on Wednesday, September 21. The United States Oil ETF (USO) and the PowerShares DB Oil ETF (DBO) rose ~2.7% and ~2.1%, respectively.
Performance of Companies in Energy, Mining Sectors on September 16
The companies in the energy sector fell on Friday, September 16. The United States Oil ETF (USO) and the PowerShares DB Oil ETF (DBO) fell ~1.6% and ~1.5%, respectively.
Health Care and Utilities Sectors: Best Performers on November 29
The health care sector rose 0.65% on November 29. Alexion Pharm (ALXN) (+5.2%) and Centene (CNC) (+3.9%) are the top performers.
Asian Markets Trade Higher amid Global Market Rally
After regaining some strength on Tuesday amid improved global market sentiment, China’s Shanghai Composite Index continued to move higher.
S&P 500, Nasdaq, and Dow Closed at Record Highs
On December 13, the S&P 500, Dow Jones Industrial Average, and Nasdaq rose 0.65%, 0.58%, and 0.95%. They closed at record highs.
Gold Inches Higher on Weaker Dollar and Global Uncertainties
After falling for two consecutive trading days, gold regained its strength on Wednesday, June 29, amid increasing concerns over the stability of the global markets.
Commodities Are Stable, Crude Oil Rose to 3-Week Highs
Crude oil prices regained strength last week amid a decline in crude oil inventory levels and expectations of an extension of the supply cut agreement.
Why Is Netflix Expected to Open Higher on January 19?
After the market closed on Wednesday, Netflix (NFLX) posted upbeat fourth quarter earnings. It reported $2.48 billion in revenue in the fourth quarter.
Copper Stabilizes While Gold Trades near Two-Year High
Copper prices stabilized on Monday, July 4, amid expectations of stimulus from central banks.
Crude Oil Up on September 21 Due to Drop in Inventory Levels
After posting moderate gains on Tuesday, September 20, crude oil prices inched higher on Wednesday, September 21, amid a drop in inventory levels. Crude oil prices also took support from the oil service workers’ strike in Norway.
Why Are Commodities Mixed in the Early Hours?
At 6:30 AM EST on April 27, the West Texas Intermediate crude oil futures contract for June 2017 delivery was trading at $49.16 per barrel—a fall of ~0.93%.
Crude Oil Inched Higher ahead of the Brexit Vote
After showing weakness on June 22 due to the disappointing inventory report, crude oil started Thursday on a positive note.
Crude Oil Prices Were Weaker amid Mixed Sentiments
Crude oil prices were weaker in the early morning trading hours of July 19 amid mixed sentiments.
Commodities Are Mixed in the Early Hours on April 25
At 7:30 AM EST on April 25, the West Texas Intermediate crude oil futures contract for June 2017 delivery was trading at $49.26 per barrel—a gain of ~0.04%.
Crude Oil Remained Stable in the Early Morning on August 12
After gaining more than 4% on August 11, crude oil prices remained stable at three-week high levels in the early morning hours on August 12.
How Range Resources and EQT Corporation Performed on December 28
Range Resources Corporation was the S&P 500’s second-best performer on December 28, 2017.
Energy Sector Led the S&P 500 Lower on February 16
After a brief decline on Wednesday, the S&P 500 energy sector lost strength and fell on February 16. The rise in crude oil inventories dented the sentiment.
Copper Fell and Gold Stabilized on July 5
At 6:40 AM EST on July 5, the COMEX Copper futures contract for September delivery was trading at $2.2 per pound—a drop of 0.81%.
Crude Oil Rose, Copper and Gold Were Weaker in the Early Hours
At 5:35 AM EST, the West Texas Intermediate crude oil futures contract for January 2017 delivery was trading at $47.91 per barrel—a rise of ~5.9%.
FDA Approves Spiranza, Ionis and Biogen Move Higher
Spinraza is a drug for treating spinal muscular atrophy. It was developed by Ionis Pharmaceuticals and licensed by Biogen. It was approved by the FDA.
Analyzing the Energy and Metals Sector on November 14
The companies in the energy sector were mixed on November 14. The major ETFs related to the energy sector such as USO and DBO rose 1.0% and 0.62%.
Base Metals Hammered by Weak Chinese Data
China is the top consumer of base metals, accounting for 45% of global demand, so economic releases from China have a large impact on base metal prices.
European Markets Opened Higher amid Improved Global Sentiment
France’s CAC 40 Index quit falling last week and traded in a range of 5,200–5,100. This week, it opened higher amid improved global sentiment.
Mixed Results for the Metals and Mining Sector on August 2
At 3:20 PM EST, the PowerShares DB Base Metals (DBB) gained ~0.51%, while the SPDR S&P Metals & Mining ETF (XME) fell ~0.73%.
Why Did Crude Oil Prices Hit a 16-Month High?
At 5:45 AM EST on December 5, the WTI crude oil futures contract for January 2017 delivery was trading at $52.18 per barrel—a rise of ~0.97%.
European Markets: Improved Risk Appetite
At 4:40 AM EST, the FTSE 100 Index was trading at 7,756.21 with a gain of 0.71%. EWU gained 0.67% to $36.27 on Friday.
Base Metals Fell Last Week: FCX, AA, GLNCY, BHP
In the week ended on January 9, all base metals on the London Metal Exchange (LME) declined. The LME 3M Lead was the biggest loser of base metals last week with a loss of 9.6%.
European Markets Are Stable, US-EU Trade Concerns Ease
At 4:45 AM EST, the FTSE 100 Index was trading at 7,658.91 with a gain of 0.01%. EWU rose 0.14% to $35.04 on Wednesday.
How Did the Metals and Mining Sector Perform on October 4?
On October 4, the stocks related to base metals and precious metals fell. DBB and XME fell 1.1% and ~4.1%. The SPDR Gold Shares (GLD) fell ~3.5%.
Commodities Are Weaker in the Early Hours on April 26
After regaining strength on Tuesday and breaking the six-day losing streak, crude oil prices opened lower on April 26 and traded weaker.
Energy and Base Metal Sectors Fell on November 11
The companies in the energy sector were weaker on November 11. The major ETFs related to the energy sector such as USO and DBO fell 2.6% and 2.7%.
Crude Oil Reached 5-Week High Price Levels
After gaining for five consecutive trading days, crude oil is trading at five-week high price levels in the early morning hours on August 18.
European Markets Are Stable Early on May 15
At 5:20 AM EST, the FTSE 100 Index is trading at 7,718.10 with a gain of 0.09%. The iShares MSCI United Kingdom (EWU) gained 0.19% to $36.84 on Monday.
Metal and Mining Sector Companies Fell on November 2
On November 2, the stocks related to base metals and precious metal miners moved lower. DBB and XME fell 1.3% and 2%, while GLD rose 0.73%.
European Markets Are Mixed Early on January 11
At 3:45 AM EST on January 11, the DAX Index was trading at 13,275.50—a fall of 0.04%. The iShares MSCI Germany (EWG) fell 0.88% on January 10.
Crude Oil Continued to Rise, OPEC Agreed to the Supply Cut
At 5:45 AM EST, the WTI crude oil futures contract for January 2017 delivery was trading at $49.88 per barrel—a rise of ~0.89%.
Why Did Crude Oil Fall on Thursday, September 1?
After declining for three consecutive trading days, crude oil prices started Thursday, September 1, on a weaker note and declined as the day progressed. At 1:05 PM EDT on Thursday, the WTI crude oil futures contract for October delivery was trading at $43.44 per barrel, a drop of ~2.8%.
European Markets Are Mixed Early on February 7
At 4:00 AM EST on February 7, the DAX Index was trading at 12,446.67—a gain of 0.41%. The iShares MSCI Germany (EWG) rose 3.1% on February 6.
Why Did Crude Oil Fall More than 3% on August 22?
After gaining for seven consecutive trading days, crude oil prices pulled back on Monday, August 22, amid waning expectations of output cut hopes. At 1:30 PM EDT, the WTI crude oil futures contract for October delivery was trading at $47.60 per barrel, a drop of ~3.2%.
Crude Oil Strong on July 1 despite Increase in Oil Rig Count
Although crude oil started the day on a weaker note, it regained strength on Friday, July 1. Baker Hughes reported that the oil rig count increased for the fourth time in the past five weeks, adding 11 new rigs to reach 341 rigs.
Which Base Metal Saw the Biggest Inventory Drop?
LME tin fell the most of all base metals on Tuesday, February 16. The tin inventory level fell 4.2% to 4,085 tons.
US Dollar and US Treasury Yields Rose Early on November 29
After pulling back on November 28, the US dollar recovered in the early hours on November 29. UUP fell 0.23% to 26.18 on November 28.
Signet Jewelers and Illumina Rose on November 27
Signet Jewelers (SIG), the world’s largest diamond jewelry retailer, was the S&P 500’s second-best performer on November 27.
How Did Crude Oil Perform on Tuesday, May 31?
Crude oil had a volatile trading day on Tuesday, May 31, 2016. At 1:40 PM EDT, WTI crude for July delivery traded at $49.67 per barrel, a gain of 0.67%.
Base Metals Surge and Copper Hits a 4-Week High
On December 11, all base metals except aluminum surged and ended the day with gains. LME three-month copper rose 2.5% on Friday and ended the day at $4,703 per metric ton.
Asian Markets Are Weak amid Trade War Concerns
The Shanghai Composite Index declined 0.84% and closed the day at 3,136.63 on April 3. The SPDR S&P China (GXC) declined 2.4% on April 2.
Commodities Are Mixed in the Early Hours on January 9
At 4:35 AM EST on January 9, the West Texas Intermediate crude oil futures for February 2018 delivery were trading at $61.87 per barrel—a gain of 0.23%.
Why Was Copper Weaker in the Early Morning on July 26
At 6:30 AM EST on July 26, the COMEX copper futures contract for September delivery was trading at $2.21 per pound—a drop of ~0.45%.
How Are Copper, Gold, and Silver Performing This Morning?
Copper is trading positive on Friday morning. At 7:21 AM EST, the COMEX copper futures contract for July expiry was trading at $2.08 per pound.
European Markets Rose, Markets Digest Trump’s Speech
The market sentiment was revived by President Trump’s speech to Congress on February 28. President Trump pledged to spend $1 trillion on infrastructure.
Elliott Management Announced Its Stake in Alcoa
On Monday, November 23, Alcoa (AA) shares rose more than 4% after Elliott Management announced its stake in the company.
Base Metals Continue to Trade Higher
After trading higher on December 18, all of the base metals except tin carried the same positive momentum to this week. They started the week with gains.
Base Metals End Week with Gains
In the week ended December 26, the major base metals gained. Copper, aluminum, zinc and lead ended the week in gains, whereas nickel and tin fell.
Base Metal Miners Find Support
Among the base metal miners, Freeport-McMoRan (FCX) recovered yesterday, rising 2.5% to end the day at $6.71.
Energy Sector Inched Higher on June 29
Crude oil continued to trade higher on Wednesday, June 29, amid a significant draw-down in crude oil inventories. This supported the prices of crude oil–related companies.
How Did Alcoa and Rio Tinto Perform Last Week?
Similar to Freeport-McMoRan (FCX) and Glencore (GLNCY), Alcoa (AA) fell 4.6% in the week ending on March 26. It closed the week at $9.57.
Why Are Asian Markets Weaker on December 5?
Asian markets fell on December 5—led by the banking sector. The banking sector lost strength due to the “no” vote during Italy’s referendum.
Asian Markets Are Weaker, Liquidity Concerns Weigh on China
The Shanghai Composite Index continued to fall and reached the lowest close since February 17. Liquidity concerns have been weighing on Chinese markets.
London Metal Exchange: A Base Metal Inventory Update
On February 15, 2016, except for the stock levels of aluminum and nickel, the inventory levels of all base metals fell on the London Metal Exchange.
