Not everyone’s thrilled with the prospect of a U.S.-China trade truce. Shares of companies attempting to build up a Western-only rare earth mining and refining capability, to defang the threat of a China rare earth embargo, are tumbling.
In early trading today, industry bellweather MP Materials (NYSE: MP) stock is down 6.5%. Companies less advanced in their rare earth mining quests, such as Trilogy Metals (NYSEMKT: TMQ) and Energy Fuels (NYSEMKT: UUUU) are down even more, 15% and 12%, respectively.
The Voo still opened 0.8% higher, however.
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Reuters is reporting that the U.S. Department of Energy is forming a $1 billion “partnership” with three big tech companies to build a pair of “supercomputers” to solve complex scientific problems.
Citi analyst Michael Ward raised his price target on Ford (NYSE: F) stock to $13.50 this morning, maintaining a neutral rating on the automotive stock. Ford beat earnings in Q3 despite taking a $1 billion hit from higher tariffs, and now Citi is raising its earnings forecast for Ford stock.
Despite the good news and optimistic words, Ford stock is down 3% today.
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