The global sell-off in the week ended February 9 impacted PPG Industries (PPG). PPG stock fell 2.8% and closed at $112.37 for the week.
International Flavors and Fragrances (IFF) is expected to report adjusted earnings per share (or EPS) of $1.31 in 4Q17.
In the past few months, the number of analysts tracking International Flavors and Fragrances (IFF) has remained more or less steady.
International Flavors and Fragrances (IFF) is expected to report revenues of $831.6 million, its highest-ever fourth-quarter revenue and an increase of ~9.0% over 4Q16.
International Flavors and Fragrances is set to announce its 4Q17 earnings on February 14, 2018, after market hours.
Last month, China imported 443,000 metric tons of unwrought copper and copper product. China imported 450,000 metric tons in December 2017.
Higher Chinese aluminum exports are a risk for aluminum markets. The markets have found a way to live with Chinese aluminum exports—at least for now.
The implied volatility readings of Newmont Mining (NEM), Agnico Eagle Mines (AEM), Wheaton Precious Metals (SLW), and Franco-Nevada Corp. (FNV) are 31.4%, 34.6%, 30.8%, and 28.9%, respectively.
Pan American Silver (PAAS) has witnessed a declining correlation to gold over the past three years. Its three-year correlation of 0.66 dropped to a one-year correlation of 0.62.
First Majestic Silver, Wheaton Precious Metals, and Hecla Mining fell 16.0%, 7.4%, and 8.6% respectively, year-to-date.
The US jobs data for January 2018 were released on February 2, 2018. The data were quite upbeat.
The Fed has long been expecting inflation to pick up. Its targeted 2% inflation rate has been eluding it for more than five years, but the latest US jobs report indicates that inflation could finally get a boost.
After disappointing the markets for a long time, the US dollar (UUP) has finally rallied. The US non-farm payrolls data released on February 2, 2018, were better than expected.
While the Federal Reserve kept interest rates unchanged in its policy meeting in January 2018, it raised its outlook for inflation and flagged “further gradual” rate increases.
The US trade deficit rose a higher-than-expected $53.1 billion in December 2017. Economists polled by Reuters were expecting the deficit to come in at $52.0 billion.
According to the latest COT report, large speculators have cut their bullish net positions on gold for the first time in the last seven weeks.
While a weaker US dollar supported gold prices in January 2018, the picture could change going forward.
What the markets have long been fearing has finally come true, at least in part. The S&P 500 (SPY) (SPX) hit a record high on January 26, 2018. Since then, the index has fallen ~8% as of February 6, 2018.
In this series, we’ll look at fundamental factors such as inflation, the US dollar, interest rates, and the equity market outlook to assess gold’s outlook for the rest of the year.
At one point following Credit Suisse’s (CS) upgrade, Cleveland-Cliffs (CLF) stock was trading at a rise of more than 6% on February 7, 2018.