Have a wonderful Monday
Indications
Nickel 3 month $ 7.883
Cash Last $7.792
Euro 1.138
Yen 163.63
gold $4085.70
silver $59.05
Copper LME $6.263
Copper Comex $6.361
Cobalt $ 28.50-30.25
Zinc $ 1.667
Tin $ 24.63
Crude $ down 90.94 down .09%
Dow Jones up .46%
FTSE 100 up .62%
Dax up 1.68%
Hang Seng up .89%
Nikkei up .50%
U.S. Dollar index 101.34
Quote of the Day
A wise man makes his own decisions, an ignorant man follows the public opinion.— Grantland Rice
Word of the Day
Today’s Word of the Day is: coffers, meaning “the available funds or financial reserves of a government or business.”
Trivia
Who painted the ceiling of the Sistine Chapel?
Answer: at bottom of page under good read.
News of Interest
US stock markets end Friday mixed (S&P 500 +0.1%, Dow +0.5%, Nasdaq -0.6%) (More) | Tesla shares fall almost 15% on weaker-than-expected earnings, spending on cybercab and robot projects
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Canuck Connection |
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Traffic begins flowing between Detroit and Windsor, Ontario, today, with the official opening of the Gordie Howe International Bridge. Jointly owned by Canada and Michigan, it marks the culmination of more than 20 years of planning. Roughly one-third of physical goods traded between the US and Canada flow across the Detroit River, most of which are transported over the privately owned Ambassador Bridge. The nearly 100-year-old structure dumps traffic onto Windsor roads and can cost commercial trucks more than $100 in tolls each way. The new bridge—named after the Hall of Fame Canadian hockey star—connects directly to Ontario’s Highway 401 and will cost about $43 for a five-axle semi. Canada, which footed the $6.4B bill, will split the toll surplus (revenue after operating costs) with the US for the first 15 years. |
🛢️ Oil prices fell after US, Iran halted attacks. As early trading began yesterday, oil prices further receded from the two-month high they set last week. It was also the second day that the US and Iran refrained from launching strikes at each other’s targets. US Ambassador to the UN Mike Waltz told Fox News Sunday that President Trump paused strikes in order to give talks “some space.” A senior Iranian official told Reuters yesterday that Iran would pause its strikes as long as the US does so. The source also said, “The prevailing view is that the pause is tactical rather than genuine.” US officials speaking anonymously with multiple media outlets have said that the US was risking munitions depletion.
🌏 Iran and Ukraine wars overlap with Caspian Sea attacks, “adversary alignment.” On Saturday, Ukrainian President Volodymyr Zelensky said his country’s military “achieved very strong results with long‑range strikes in the Caspian Sea,” hitting “vessels used in military cargo shipments involving Iran, as well as a warship.” Iran said the attacks killed one sailor and left others injured. Iranian Foreign Minister Abbas Araghchi warned on X that Ukraine’s attacks “CANNOT GO UNANSWERED.” Also on Saturday, Zelensky said that he would share evidence with the US that Russia was sharing its satellite intelligence of US military bases with Iran. Earlier in the week, Defense Secretary Pete Hegseth said, “There’s definitely adversary alignment” regarding Iran and Russia, although President Trump disagreed.
🥬Cyclospora outbreak is changing Americans’ eating habits, CBS poll finds. As if arugula didn’t already need a pretty good publicist, a new poll conducted by CBS News/YouGov found that 4 in 10 Americans are buying or eating less produce because of the parasitic outbreak linked to iceberg lettuce in nine states. Most Americans are also following news about the outbreak somewhat closely, per the survey—almost as many as are following coverage of the Iran war. CBS News/YouGov found that respondents’ confidence in the FDA’s ability to solve the problem is mixed, and largely falls along party lines, with Republicans more optimistic. Separately, CBS News reported that staff and program cuts at the FDA may have contributed to the situation.—
Nickel & Related Metal News
Apparent demand for primary nickel rose 12.2% YoY in H1, mainly
supported by robust demand for Class 1 nickel and nickel sulphate. Class
1 nickel imports in June retraced slightly MoM but remained well above
historical levels, indicating continued onshore buying interest.
Good Read
Answer to today's trivia question: Michelangelo