Featured Article

The Pandemic Economy: Which Stocks are Weathering the Storm?

Posted by Jeff Desjardins, The Visual Capitalist

on Friday, 13 March 2020 13:28

When markets get wacky, even the best companies can’t avoid the maelstrom.

Investors were already tiptoeing on broken glass, knowing that the longest U.S. stock market bull run in history was getting long in the tooth.

Then, when the market foresaw the potential damage that could be caused by the COVID-19 pandemic, it quickly created a vortex that would suck almost everything into…Click for full article.

Gold price plummets again – down $172 for the week

Posted by Frik Els, mining.com

on Friday, 13 March 2020 13:09

Gold is headed for its worst two-day drop in history as pandemic panic grips global financial markets.

Gold for delivery in April come close to crashing through the $1,500 level on the Comex market in New York on Friday, down $86 an ounce, or 5.4% from yesterday’s closing price of $1,590.30 an ounce. By the close on Friday, gold pared some of those losses, closing at $1,520.

Contracts representing 52 million ounces of gold had exchanged hands by the close after a week of heavy selling. Gold is down more than…click for full article.

Bank of Canada pumps $7B, expands bond buy-backs to ease economic concerns

Posted by Jordan Press, The Canadian Press

on Thursday, 12 March 2020 16:15

The Bank of Canada prepared to increase the cash it pumps into the financial system and Finance Minister Bill Morneau stressed the need for fiscal measures to manage the impact of COVID-19 as official Ottawa responded to another market plunge.

Thursday saw sharp drops on North American stock markets: 12.34 per cent on the S&P/TSX composite index, and a 9.99 per cent drop on the Dow Jones industrial average — its worst day since 1987.

The Bank of Canada responded with a…Click for full article.

Tesla Plans To Ditch Cobalt In New Batteries

Posted by Stuart Burns, AG Metal Miner

on Thursday, 12 March 2020 11:31

Reuters recently reported on Tesla’s announcement that it is in advanced talks to use batteries from China’s Contemporary Amperex Technology Co Ltd (CATL) that contain no cobalt specifically for use in cars made at Tesla’s Shanghai plant.

The statement went on to say as a result of using CATL’s lithium-iron-phosphate (LFP) batteries, Tesla would be able to substantially lower the cost of those cars using the alternative battery technology, as cobalt is the most expensive component in traditional nickel-cobalt-aluminum (NCA) and nickel-manganese-cobalt (NMC) batteries.

The statement, however, did not say what the impact of the alternative batteries would be on…click for full article.

Deja Vu? The S&P 500 Is ‘Eerily Tracking’ October 2008

Posted by Wayne Duggan, Benzinga

on Thursday, 12 March 2020 11:17

Investors haven’t seen a stock market sell-off like the one they’re seeing this week since 2008. According to DataTrek Research co-founder Nicholas Colas, the 2008 market drop started off almost exactly like things have played out on Wall Street this week.

On Thursday, Colas drew a direct comparison between this week’s extreme market volatility and the volatility that started on Sept. 29, 2008. Colas said that date was the day the financial crisis sell-off transitioned from “worried” to “frantic,” sending the S&P 500 down…Click for full article.