Given that the market has been stressed recently with fears over rising raw material prices stoking inflation and possibly higher interest rates, it makes sense to start looking at some companies that might benefit from these conditions. Two names that spring to mind are Caterpillar (NYSE: CAT) and copper miner Freeport-McMoRan (NYSE: FCX). It might seem strange to designate highly cyclical stocks like Caterpillar and Freeport as winners from a market sell-off.
This is not the highest that Freeport-McMoRan has ever traded. Funny, because Copper trading on the London Metals Exchange traded as high as $10,747 per metric ton earlier this (Monday) morning, after besting the previous record high of $10,190 per metric ton (which was set in 2011) on Friday. As recently as mid-April, Goldman Sachs had predicted that copper prices in London would hit $15K/ton by the year 2025.
Dan Campbell has yet to coach an actual game in Detroit, but the first-year Lions coach is already making an early case as one of the most entertaining coaches in the league with his off-the-cuff style.
Trainer Bob Baffert has been temporarily suspended from entering horses at Belmont Park, the New York Racing Association announced. The decision means controversial Derby champ Medina Spirit will not run in the Belmont Stakes.
Transport for London and London Councils have announced Dott, Lime and Tier Mobility as the winners of its prized e-scooter pilot, confirming last month’s suspicions based on job postings by the companies. Last year, the government legalized e-scooter rental trials by local authorities, although private e-scooter riding is still illegal. This legislation spurred the launch of
Canoo, the Los Angeles-based electric vehicle startup that debuted on the Nasdaq public exchange earlier this year, is being investigated by the U.S. Securities and Exchange Commission, just months after its merger with special purpose acquisition company Hennessy Capital Acquisition Corp. The investigation is broad, covering the Hennessy’s initial public offering and merger with Canoo,
Per a recent report by Bain & Co., e-commerce is expected to grow to $28.5 billion in MENA by 2022 from a 2019 value of $8.3 billion. Egypt, one of the most active e-commerce countries in the region, is anticipated to grow 33% annually to reach $3 billion by 2022. But for any e-commerce business