The Meaning of Market Volatility (or Lack of) Risk: The Week That Was – What Lies Ahead? Video Companion

We prepare for the week ahead, what is dominating markets as we see tight and failing ranges from stocks to currencies as liquidity is low in most places. Index ranges this week are the tightest since late 2021. S&P with 55.62 points lowest range since November 2021. NASDAQ 258 points lowest range since December 2021. Dow Jones industrial average 340.88 points lowest since August 2021. Oil prices ran out of steam and declined this week, reflecting recession concerns. WTI crude … Continue reading “The Meaning of Market Volatility (or Lack of) Risk: The Week That Was – What Lies Ahead? Video Companion”

Copper Prices Rising While Markets Slide, Why?

Copper is higher today while stock, bond and most commodity prices are sharply lower. A quick look at what is going on. Last week copper rallied 2.2%, it had been a leader in the risk on movement for commodities and is a key for the bigger picture here. The Bloomberg commodity index fell 2.0% and is down 5.6% YTD last week. Enjoy live commentary from Our Trading Room at YouTube – feel free to like and share Live on YouTube … Continue reading “Copper Prices Rising While Markets Slide, Why?”

Freeport McMoran Earnings Slide Along with Copper but Beat Expectations

Freeport-McMoRan, the world’s biggest publicly listed copper producer reported quarterly earnings on Thursday of $404 million from $1.4 billion in the year-ago quarter due to lower copper prices. The results beat expectations and FCX gave a bullish demand outlook for copper going forward. FCX has significant reserves of copper, gold, molybdenum, cobalt, oil, and gas. The company is a key player in energy transition. FCX stock price has been largely mirroring copper prices. $FCX has been repaying debt and distributing … Continue reading “Freeport McMoran Earnings Slide Along with Copper but Beat Expectations”

What to expect with Freeport McMoran Earnings

Freeport-McMoRan, the world’s biggest publicly listed copper producer reports quarterly earnings on October 20. FCX has significant reserves of copper, gold, molybdenum, cobalt, oil, and gas. The company is a key player in energy transition. FactSet analyst estimates provide an EPS consensus of $0.30 and a sales consensus of $4.99bn. FCX stock price has been largely mirroring copper prices and has traded between $24.80 and $51.99 and year-to-date the stock price is down over -32.2% at around $28.14. $FCX has … Continue reading “What to expect with Freeport McMoran Earnings”

Copper in Longest Rally since February 2021 on Tight Supply from Chile

Copper futures prices rose Wednesday for a seventh consecutive trading day. Front-month copper futures contract rose 0.4% to $3.5325. That is the longest winning streak since February 2021. Copper prices have bounced from their lowest level since November 2020 but still off about 30% from 2022 highs. The tight supply from Chile, coupled with lower supply from the ongoing war in Ukraine, has boosted prices. The strength in copper has been boosted by a weaker USD off 25 year plus … Continue reading “Copper in Longest Rally since February 2021 on Tight Supply from Chile”

Freeport McMoran Triples Profit With Record Copper Prices

Freeport-McMoRan, the world’s biggest publicly listed copper producer more than tripled its profit in Q3. Higher copper prices and an increase in demand for the metal at a time when copper inventories are plunging. $FCX has been repaying debt and distributing dividends from the surge in revenues. FCX released its Q3 numbers on Oct. 21 with adjusted net income was $1.3 billion, or 89 cents per share, compared with $430 million, or 29 cents per share, a year earlier. The … Continue reading “Freeport McMoran Triples Profit With Record Copper Prices”

Copper has Reversed $1,000 a Ton Since All-Time High Last Month

Copper prices fell Tuesday to their lowest level in two months on concerns China may intervene on rising commodity prices. Freeport-McMoRan $FCX, the world’s biggest publicly listed copper producer has also fallen. The strength in copper had been boosted by a supply constraint, a weaker USD and China’s economy. Copper prices three-month copper forward on the London Metal Exchange fell 3.8% to $9,582.50 a metric ton Tuesday. it was the steepest one-day decline since March. Speculation that China’s strategic stockpiling body, … Continue reading “Copper has Reversed $1,000 a Ton Since All-Time High Last Month”

Iron Ore Stocks Rally On Chile, US Tax and China Clean Air Reform

Tax Reform euphoria saw the Dow hit it’s 70th high for the year today and leading iron ore stocks went up with it. Leading iron ore stocks, $RIO, $BHP and $VALE have been receiving a boost with China’s clean air program, we also got positive election news for miners in Chile.