Global shares rallied for the first time in three days as the Nikkei 225 (NKY) Stock Average rebounded from a slump that sent valuations to a 28-month low and commodities gained. The dollar climbed versus the yen as fires at a Japanese nuclear plant hampered efforts to avert a meltdown.
Tag: Commodities
Buy, Sell or Hold
Sometimes the market offers investors a rare chance to buy shares of a great company on a dip. That’s precisely the opportunity we’re getting right now with Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX).
The current market volatility is giving investors with an eye toward long-term investments a great chance to buy shares in a world-class company.
FCX is one of the best-run global mining companies and a great way to gain exposure to gold and copper. So it’s time to “Buy” Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX) (**).
Hedging Silver
Silver – like gold – has enjoyed a high-octane surge. But what now? How do you keep chasing the profits that inflation is sure to bring without risking the loss of those profits should silver prices reverse? Well, options expert Larry D. Spears last week showed investors how to hedge against a possible decline in the price of gold – and this week he’s back to do the same ….
Oil could reach $300 a Barrel
If the entire Middle East falls under radical control – we could be looking at $300-a-barrel oil and pump prices of $9.57 a gallon. Definitely a stunner.
U.S. oil prices yesterday (Tuesday) hit their highest levels since September 2008 as investors reacted to fears that Middle East tumult would spread from Libya to such key Organization of Petroleum Exporting Countries (OPEC) as Iran and Saudi Arabia. But never fear: Even if the Middle East melts down and oil prices soar, there are moves you can make to hedge away your risk.
Stocks Fall on Concern Japan’s Quake to Hurt Growth; Treasuries, Euro Gain
Global stocks slid, following the biggest drop in Tokyo since 2008, and Treasuries gained amid concern Japan’s biggest earthquake on record will hurt economic growth. The euro rallied as European leaders agreed to expand the region’s rescue fund.
The Standard & Poor’s 500 Index fell 0.6 percent to 1,296.39 at 4 p.m. in New York, paring a drop of as much as 1.4 percent as energy shares rebounded. The Nikkei 225 Stock Average plunged 6.2 percent, with about $285 billion in equity value erased from the Japanese market. Ten-year Treasury yields lost 4 basis points to 3.37 percent. Oil reversed losses after dipping below $99 a barrel. The euro rose against 15 of 16 major peers.
Companies that operate nuclear power plants or supply the fuel helped lead stocks lower, with Entergy Corp. down 4.9 percent in New York and Cameco Corp. tumbling 13 percent in Toronto, while natural gas rallied amid speculation that the atomic-energy industry will suffer as Japan works to contain radiation at damaged reactors. Tiffany & Co. and Coach Inc. lost more than 5.2 percent for the biggest declines in the S&P 500 on concern sales of luxury goods in Japan will slow.