Key News Overnight:
Stocks in the S&P 500 just rose for the sixth time in eight weeks, jumping another 1.7% and finishing at a record. They did so during a period in which weakening company outlooks led analysts to cut earnings estimates for the rest of the year.
President Trump said China may wait until after the 2020 U.S. presidential election to sign a trade agreement because Beijing would prefer to reach a deal with a Democrat. “I think that China will probably say, ‘let’s wait,’” Trump told reporters on Friday.
Gold futures posted a third weekly gain after a report showing slower U.S. growth kept expectations for a Federal Reserve interest-rate cut on track. While a government report showed second-quarter growth slowed by less than economists expected.
China’s “brewing” copper smelter bottleneck signals deepening supply worries for a metal market that’s already seen facing shortages this year. So-called treatment charges paid in China by miners to smelters have tumbled to $56 a metric ton.
The spread of a deadly pig virus in Asia could permanently change meat consumption patterns as more people shift from pork to beef, according to Brazilian exporter Minerva SA.
In This Issue:
Stanmore Coal (SMR) | Golden Investment attempting to roll the Board | BUY | Analyst |Matthew Keane
Mineral Resources (MIN) | Mt Marion Spodumene pricing drops | Not covered | No rating
Red River Resources (RVR) | June Q Results | Not covered | No rating
West African Resources (WAF) | Grade control results at M1 South| BUY | Analyst | James Wilson
Evolution Mining (EVN) | June Q Report| SELL | Analyst | James Wilson
St Barbara Ltd (SBM) | June Q Report |HOLD | Analyst | James Wilson
OZ Minerals (OZL) | Trending Well | BUY | Analyst | Matthew Keane