Key News Overnight:
Stocks climbed on optimism Mexican tariffs will be avoided, while traders assessed mixed economic data. The S & P 500 and the Dow Jones both rose by 0.8% overnight.
U.S. mining companies have been hesitant to wade back into rare earths after a 2011 price collapse, compounding the challenge of cutting the nation’s reliance on China for the minerals, according to Bloomberg.
West Texas Intermediate crude entered a bear market and Brent tumbled below $60 after U.S. petroleum inventories ballooned, raising fears of a glut as trade disputes threaten demand.
Copper futures settled at the lowest since the start of the year, erasing 2019 gains, as cuts in economic- growth forecasts underscored investor concerns over industrial- metals demand.
Gold futures capped the biggest six-day rally in more than two years after a gauge of U.S. jobs fell to the lowest in almost a decade, encouraging bulls predicting lower interest rates.
In This Issue:
Salt Lake Potash (SO4) |Strategic Placement of $20.25m | SPEC BUY | Analyst | Michael Eidne
Dacian Gold (DCN) | Expectations vs Reality | HOLD | Analyst | James Wilson
Iluka (ILU) | Partnering with IFC in Sierra Leone | Not covered | Matthew Keane
Resolute Mining (RSG) | Opportunity adding to the hedge book | Not covered | James Wilson
Austal Ltd (ASB), Myanmar Metals (MYL)