Agriculture
On the Ethanol front, the market will follow corn and crude oil and the market settled at 2.010 which was up .010 in yesterday’s market. With the weather forecast on the negative side and supplies dwindling many analysts are calling $6 corn a layup. In the overnight electronic session, the May corn is currently trading at 591 ½ which is 1 ½ of a cent higher. In 2018, it took a stake in Whitbread Plc and pushed for a sale of its Costa Coffee chain.
Currencies
This is how much a buyer of the average stock receives in earnings per dollar invested.
Metals
That gives gold stocks big potential to power much higher during gold’s next bull-market upleg, which is already underway. It works because gold is the dominant primary driver of miners’ earnings, and profits ultimately determine stock prices. That matches well with the leading and dominant GLD SPDR Gold Shares gold ETF in its denominator. Their stock prices are too low relative to both underlying corporate profitability and prevailing gold prices. Another great sector valuation proxy compares the GDX top 25’s average reported all-in sustaining costs to that quarter’s average gold prices.
Yet despite mostly correcting that quarter, the GDX-top-25 gold miners reported record revenues, adjusted earnings, operating cash flows, and cash treasuries. The leading gold-stock benchmark, the GDX VanEck Vectors Gold Miners ETF, is breaking out after a textbook-perfect series of higher lows and higher highs. The gold miners’ fundamentals continue to be outstanding, despite traders’ bearish outlook on this sector spawned by its recent extended correction.
Last week I wrote an entire essay analyzing this contrarian sector’s recent advance, explaining the strong technical case for strengthening gold and gold-stock uplegs. Miners’ stocks way outperform the metal they mine, as their major inherent profits leverage to gold amplifies their gains. With that GDX Q4’20 AISC read at $1,038 per ounce, these major gold miners were earning about $838 per ounce in profits.
That healthy correction accomplished its mission of rebalancing sentiment, eradicating the euphoria surrounding gold stocks’ last upleg topping. less The gold miners’ stocks remain undervalued, strong buys fundamentally. About a month ago I dove into the latest quarterly results from the top 25 gold miners in GDX, which were Q4’20’s. This incredible stock-market-leading performance was driven by higher prevailing gold prices. But that sentiment pendulum had swung back to fear by early March, so gold miners’ Q4’20 results were ignored.
Another young gold-stock upleg is picking up steam as gold recovers from its recent extended correction. That would still be up a strong 22.8% YoY during a tough quarter where gold corrected hard! While gold spent most of last quarter correcting, it still averaged $1,793. Averaging $1,876 per ounce in Q4’20, gold was 26.5% higher from where it traded in Q4’19.
Yet despite mostly correcting that quarter, the GDX-top-25 gold miners reported record revenues, adjusted earnings, operating cash flows, and cash treasuries. The leading gold-stock benchmark, the GDX VanEck Vectors Gold Miners ETF, is breaking out after a textbook-perfect series of higher lows and higher highs. The gold miners’ fundamentals continue to be outstanding, despite traders’ bearish outlook on this sector spawned by its recent extended correction.
Last week I wrote an entire essay analyzing this contrarian sector’s recent advance, explaining the strong technical case for strengthening gold and gold-stock uplegs. Miners’ stocks way outperform the metal they mine, as their major inherent profits leverage to gold amplifies their gains. With that GDX Q4’20 AISC read at $1,038 per ounce, these major gold miners were earning about $838 per ounce in profits.
That healthy correction accomplished its mission of rebalancing sentiment, eradicating the euphoria surrounding gold stocks’ last upleg topping. less The gold miners’ stocks remain undervalued, strong buys fundamentally. About a month ago I dove into the latest quarterly results from the top 25 gold miners in GDX, which were Q4’20’s. This incredible stock-market-leading performance was driven by higher prevailing gold prices. But that sentiment pendulum had swung back to fear by early March, so gold miners’ Q4’20 results were ignored.
Another young gold-stock upleg is picking up steam as gold recovers from its recent extended correction. That would still be up a strong 22.8% YoY during a tough quarter where gold corrected hard! While gold spent most of last quarter correcting, it still averaged $1,793. Averaging $1,876 per ounce in Q4’20, gold was 26.5% higher from where it traded in Q4’19.
Oil
On the Crude Oil front, the market is waiting for the next headline as it digs in its heels to the new higher price levels after the Wednesday rally. Data in recent days showed jobless claims falling to a new pandemic-era low, housing starts rebounding and gasoline demand expanding. A Chinese mega-refiner and some Japanese oil companies have also been snapping up crude cargoes, boding well for the physical market. Exports of Russia’s flagship Urals crude are set to rise sharply in the first five days of May, a move that pressured swap markets tied to the grade.
In the overnight electronic session, the June crude oil is currently trading at 6348 which is 3 points lower. Brent’s nearest timespread was in a bullish backwardation of 50 cents a barrel on Friday.
In the overnight electronic session, the June crude oil is currently trading at 6348 which is 3 points lower. Brent’s nearest timespread was in a bullish backwardation of 50 cents a barrel on Friday.
United States
less Investing.com Follow Looking at the performance of Tesla (NASDAQ:TSLA) shares, it’s no secret that investors don’t see a major competitive threat for the electric-vehicle company in the near-term. Looking at the performance of Tesla (NASDAQ:TSLA) shares, it’s no secret that investors don’t see a major competitive threat for the electric-vehicle company in the near-term. One theory could be that the strong releases could inspire the Fed to taper their monetary accommodation more quickly than expected.
For discussion of what the CPI would look like if actual home prices were used, please see Hello Fed, Inflation is Rampant and Obvious, Why Can’t You See It?
We received stronger than expected results from almost all categories of Retail Sales along with better than expected readings of Empire Manufacturing and the Philadelphia Fed. After earning a Finance MBA from New York University, he spent the 1980s on Wall Street as a Eurodollar trader, equity analyst and junk bond analyst. Today, Wall Street continues to use Zacks research including the Zacks Rank and Zacks Equity Research, which combines the best of quantitative and qualitative analysis.
It shocked partly because Biden has otherwise spent most of his time in office expunging Trump s policies from the record. Frank Barry ICYMIThe U.S. hit 200 million vaccinations.Republicans who voted to impeach Trump are flooded with donations.Raul Castro is stepping down in Cuba.KickersNew ocean menace: biting sea worms. Research from our team of in-house analysts has been quoted by The Wall Street Journal, Bloomberg, MarketWatch, USA Today, Kitco, Reuters, US News & World Report, CNBC, and more.
Dogecoin, the popular meme cryptocurrency, has been on a tear recently with (Nasdaq: TSLA) CEO Elon Musk pumping it almost daily. He has been quoted in a variety of financial news publications, such as CNBC, the Wall Street Journal, and the New York Post. Share Photo: Getty Images/iStockphoto By Charley Grant Close April 16, 2021 12:43 pm ET The $100 million delicatessen is the talk of Wall Street.
Virginia-based Alarm.com (Nasdaq: ALRM) is investing in product upgrades to cater to this growing demand. The mission was announced by President Donald Trump’s administration.
0 For discussion of what the CPI would look like if actual home prices were used, please see Hello Fed, Inflation is Rampant and Obvious, Why Can’t You See It?
We received stronger than expected results from almost all categories of Retail Sales along with better than expected readings of Empire Manufacturing and the Philadelphia Fed. After earning a Finance MBA from New York University, he spent the 1980s on Wall Street as a Eurodollar trader, equity analyst and junk bond analyst. Today, Wall Street continues to use Zacks research including the Zacks Rank and Zacks Equity Research, which combines the best of quantitative and qualitative analysis.
It shocked partly because Biden has otherwise spent most of his time in office expunging Trump s policies from the record. Frank Barry ICYMIThe U.S. hit 200 million vaccinations.Republicans who voted to impeach Trump are flooded with donations.Raul Castro is stepping down in Cuba.KickersNew ocean menace: biting sea worms. Research from our team of in-house analysts has been quoted by The Wall Street Journal, Bloomberg, MarketWatch, USA Today, Kitco, Reuters, US News & World Report, CNBC, and more.
Dogecoin, the popular meme cryptocurrency, has been on a tear recently with (Nasdaq: TSLA) CEO Elon Musk pumping it almost daily. He has been quoted in a variety of financial news publications, such as CNBC, the Wall Street Journal, and the New York Post. Share Photo: Getty Images/iStockphoto By Charley Grant Close April 16, 2021 12:43 pm ET The $100 million delicatessen is the talk of Wall Street.
Virginia-based Alarm.com (Nasdaq: ALRM) is investing in product upgrades to cater to this growing demand. The mission was announced by President Donald Trump’s administration.
