Top stories for April 9, 2024: Piedmont Lithium and JV partner Sayona Mining aim for steady state production by 2024. Royal Gold sells 49,500 GEO in Q1. Hecla Mining sees increases in silver, gold, lead, and zinc production. Coeur Mining begins commercial production at expanded Rochester mine.
Sharp increase in oil prices has led to outperformance of energy stocks, with WTI rising 20% this year. EIA forecasts $90/bbl in Q2 2024 and $3.60/gal in retail gasoline prices by 2024. 3 energy firms in top 10 S&P 500 performers YTD and many more set to report earnings in April 2024.
U.S. stocks traded lower toward the end of trading, with the S&P 500 falling around 0.4% on Tuesday.
The Dow traded down 0.46% to 38,713.72 while the NASDAQ fell 0.24% to 16,215.32. The S&P 500 also fell, dropping, 0.39% to 5,182.36.
Stocks edged lower during midday trading on Tuesday as traders maintained a cautious stance in anticipation of the highly awaited Consumer Price Index (CPI) report scheduled for Wednesday, which could offer crucial insights into the potential course of actions by the Fed.
U.S. stocks traded lower midway through trading, with the Dow Jones index falling around 150 points on Tuesday.
The Dow traded down 0.39% to 38,742.12 while the NASDAQ fell 0.16% to 16,227.77. The S&P 500 also fell, dropping, 0.29% to 5,187.10.
Despite global efforts, China's coal imports are rising, contradicting previous forecasts. Electricity demand and favorable prices drive the country's continued reliance on imported coal for energy needs.
U.S. stocks traded higher this morning, with the Dow Jones index gaining over 50 points on Tuesday.
Following the market opening Tuesday, the Dow traded up 0.20% to 38,972.32 while the NASDAQ rose 0.40% to 16,319.23. The S&P 500 also rose, gaining, 0.32% to 5,219.29.