The Red-Hot Copper Bull Market Shows No Signs of Cooling Off
Copper prices have gone ballistic. As we noted on April 26, “With copper prices just beginning to pop on supply-demand issues, stocks like Freeport McMoRan (FCX), Southern Copper (SCCO), BHP Group (BHP), and Riot Tinto (RIO) could move aggressively higher.” As hoped,...
Major Cyberattack Shuts Down Crucial U.S. Pipeline
A few keystrokes are all it takes. All of a sudden, your most private information is in the hands of criminals. Your most personal information, banking details, social security numbers, your children’s information. Yet, we’re still not prepared as it gets worse. Not...
Here’s How to Trade the Chicken Sandwich War of 2021
The last major “chicken war” was in August 2019. Popeyes and Chick-fil-A got into a fight over whose chicken tasted better. Then Wendy’s jumped in, tweeting, “Y’all fighting here about which of these fools has the second best chicken sandwich?” Chickens were running...
International Energy Agency Warns Minerals for EVs Must Increase 30-Fold
This doesn’t come as a big surprise. We’ve been saying this for quite some time. This morning, the International Energy Agency warned, “The supply of critical minerals crucial for technologies such as wind turbines and electric vehicles will have to be ramped up over...
Amazon raises $1 billion sustainable bond for climate, social causes
By Kate Duguid and Simon Jessop NEW YORK/LONDON (Reuters) - Amazon.com Inc issued its first sustainability bond on Monday, raising $1 billion to invest in renewable energy, clean transport, greener buildings and affordable housing. The world's biggest company joins a...
Top U.S. fuel pipeline remains days from reopening after cyberattack
By Stephanie Kelly and Devika Krishna Kumar NEW YORK (Reuters) -America's biggest gasoline pipeline will not resume full operations for several more days due to a ransomware cyberattack blamed on a shadowy criminal network called DarkSide. The attack on the Colonial...
U.S. pipeline hackers say their aim is cash, not chaos
By Raphael Satter and Joseph Menn WASHINGTON/SAN FRANCISCO (Reuters) -The ransomware gang accused of crippling the leading U.S. fuel pipeline operator said on Monday that it never meant to create havoc, an unusual statement that experts saw as a sign the...
U.S. State Dept approves potential sale of AEGIS Combat System to Canada -Pentagon
By Mike Stone WASHINGTON (Reuters) - The U.S. State Department has approved the potential sale to Canada of 4 AEGIS Combat Systems made by Lockheed Martin in a deal valued at up to $1.7 billion, the Pentagon said on Monday. The Pentagon said the sale of the powerful...
U.S. stocks retreat from record high, dollar near 10-week low
By Koh Gui Qing NEW YORK (Reuters) -U.S. stocks fell on Monday and the Dow Jones Industrial Average snapped back from a record high, as worries about accelerating inflation dragged on shares and hobbled the dollar, which struggled at a 10-week low. U.S. equities'...
U.S. pump prices head for highest since 2014 as hacked fuel pipeline shut
By Devika Krishna Kumar, Laila Kearney and Rich McKay NEW YORK (Reuters) -U.S. gasoline prices at the pump jumped 6 cents in the latest week, according to the American Automobile Association (AAA), and could soon be headed for the highest level since 2014 due to a...
Wall Street closes lower as inflation fears prompt tech sell-off
By Stephen Culp NEW YORK (Reuters) - Wall Street closed lower on Monday as inflation jitters drove investors away from market-leading growth stocks in favor of cyclicals, which stand to benefit most as the economy reopens. Industrial and healthcare shares limited the...
Occidental Petroleum loss narrows as crude prices rebound
(Reuters) - Occidental Petroleum Corp on Monday beat Wall Street expectations as it posted a smaller first-quarter adjusted loss than the year prior, boosted by higher crude prices and profits in chemicals and marketing. The company, like many of its peers, has...
Roblox reveals bookings surge in first post-debut report
(Reuters) -Roblox Corp on Monday trounced quarterly bookings estimates in its first earnings report since a blockbuster debut as the U.S. gaming company benefited from a surge in spending by kids stuck at home due to the pandemic. Shares were last up 5% in choppy...
U.S. unions lodge first Mexico labor grievance under new NAFTA
By Daina Beth Solomon MEXICO CITY (Reuters) -The AFL-CIO, the biggest U.S. labor federation, on Monday filed the first petition for the U.S. government to bring a labor complaint against Mexico under the trade deal that replaced the North American Free Trade...
Novavax delays COVID-19 vaccine production timeline, sees filing for authorization in 3rd qtr
By Trisha Roy and Carl O'Donnell (Reuters) -Novavax Inc said on Monday production of its COVID-19 vaccine will ramp up at a slower pace than it had previously anticipated and it does not expect to file for regulatory authorization in the United States, Britain or...