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Stocks closed higher with the Dow finishing 20 points shy of 12,000 on the strength of materials and tech stocks and as investors awaited a handful of major earnings later this week. Alcoa and IBM rose, while BofA fell.
Stocks trimmed gains, but remained significantly higher, as techs and materials lifted the market as investors awaited a handful of major earnings from the sector later this week. Alcoa and IBM rose, while BofA fell.
The long-awaited expiration of the post-IPO lock-up for Molycorp expires this week, and the company announced about $500 million of shares will be sold by stockholders.
Rare earth proxy Molycorp was halted righted after opening for News Pending; it has resumed trading. The lockup period for its IPO is now expiring; the company is offering a mandatory convertible preferred stock offering and an offering of common stock by some stockholders. Also: Food inflation rears its head at McDonald's.
Where the "Fast Money" traders think the market could go and how they're trading it.
The rare earth story jumped to front pages in 2010. China dominates the market for the arcane metals, which are vital to technology products. Which companies, though, can fill that need, now that China has begun to limit exports?
A short while ago I had Jon Hykawy, Clean Technologies and Materials Analyst at Byron Capital Markets on our air to talk about rare earth proxy Molycorp. Today, Jon sent me the following note in response to the recent runup in MCP.
Rare earth proxy Molycorp recently passed $5 billion in market cap — bigger than well-known names like Abercrombie & Fitch, Sunoco or Pitney Bowes.
Cramer makes the call on viewers' favorite stocks.
These obscure metals, a market totaling only $2.5 billion, are set to be 21st century stockmarket darlings.
Don Bubar, CEO of Avalon Rare Metals, talks about the construction of a new mine and the rare earth metals trade in general.
The Fast Money traders weigh in on whether today's commodity sell-off is a sign of a deflating bubble or a temporary correction.
Stocks ended up nearly a percent or more as investors flocked to stocks, pushing the market to new two-year highs for the first trading day of the year. Bank of America and Alcoa gained, while Coca-Cola fell.
Stocks ended up nearly a percent or more as investors flocked to stocks, pushing the market to new two-year highs for the first trading day of the year. BofA and Alcoa rise, while Coca-Cola slipped.
Stocks surged to new two-year highs as investors flocked to stocks, pushing all the major indexes up more than 1 percent on the first trading day of the year. Bank of America and Alcoa gained, while Coca-Cola fell.
The markets aren't a stranger to getting a jolt on the first trading day of the year. Since 2000, the S&P 500 has moved up or down 1 percent on the first day of the year six times. And each time that has happened..?
Here's our Fast Money Final Trade. Our gang gives you tomorrow's best trades, right now!
Stocks pared gains in the final minutes of trading but still ended at new highs in light trading Wednesday as investors remained optimistic about the prospects for equities next year. McDonald's and Disney rose, while Alcoa fell.
Stocks continued to trade at new highs in light trading Wednesday as the closing bell approach despite an absence of fresh economic reports, as investors remained optimistic about the prospects for equities next year. McDonald's and Disney rose, while Alcoa fell.
In a slow trading week, the talk and news on rare earths has been fast and furious. Reports of China limiting exports have roiled several stocks in the space. On Tuesday, Molycorp touched a new high of $55.22 before dropping about $8, erasing about $300 million in market cap.