In January, progress on the US-China trade deal seemed to calm the trade war between the two countries. However, everything changed when the coronavirus emerged. Since the beginning of the pandemic, demand—and resultant spot price for silver and gold—reached new highs. The stock market fell and rose several times in the hopes and doubts for a vaccine. Although politics and gold bullion might not seem to have much in common, the gold price is inherently tied to political events. After all, it is deemed a safe-haven metal for a reason. So how do current events affect the 9-year high gold price?
Dozens of pharma and biotech stocks have skyrocketed in the last few months amid the COVID-19 pandemic. The companies are spending heavily on research and development to find a treatment or vaccine for the coronavirus. Typically, most pharma and biotech companies spend about 20% of their revenue on R&D activities. But the R&D spending will likely shoot up this year. Here we take a look at the top ten best and worst performing biotech stocks this year (as of July 16, 2020).
The gold price remains above $1,800 an ounce, but where it will go next depends on what type of economic recovery we see. Many are expecting a V-shaped recovery. However, the resurgence in coronavirus cases in the U.S. suggests we could see a U-shaped or W-shaped economic recovery, which would impact gold prices.
In a big win for Fannie Mae and Freddie Mac preferred shareholders, the Supreme Court has decided it will hear the Collins case. It’s widely expected that the court will rule the net worth sweep illegal, which would mean preferred shareholders would finally receive the big payday they believe they are due.
Tesla stock soared past $1,400 a share today, and talk about whether it’s in a bubble has been reignited. Several analysts have weighed in on the EV maker today, and even some bears are starting to say that the shares could keep rising.
Letter to the editor: I had noted a few months ago that many of these firms getting the PPP loans were not ‘in the spirit’ of the program.