Copper Jul 24 (HG=F)
- Yahoo Finance Video
What gold, copper futures are telling us about the economy
Gold futures (GC=F) have had a record run in 2024, hitting an all-time high in late May. It's been a rally for commodities overall as copper prices (HG=F) moved to a record high in this same timeframe. Barrick Gold (GOLD) CEO Mark Bristow comments on the trends in the commodities trade that have been pushing metal prices higher and how it is acting as an economic indicator. "Mining is a long-term game. It's capital intensive. You've got to allocate capital over the long term. We did this big deal with Randgold back in 2019. We've been consolidating, it's all about delivery, and we've expanding our copper production," Bristow tells Yahoo Finance. "And overall looking to grow our production by 30% by the end of the decade. And bring our costs down. And that's the game in mining." For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Luke Carberry Mogan.
- Yahoo Finance Video
Oil: Why M&A consolidation is emerging as a trend
Mega-merger moves are shaking up the oil sector. Hess (HES) shareholders have given the green light to the company's whopping $53 billion acquisition by Chevron (CVX). Meanwhile, ConocoPhillips (COP) is gearing up to acquire Marathon Oil (MRO) in a massive $17.1 billion all-stock transaction. Joining Market Domination to discuss the outlook for the oil sector amid this consolidation wave are Alpine Saxon Woods Founding Partner Sarah Hunt and CFRA Research Energy Equity Analyst Stewart Glickman. Hunt highlights the entire industry "is under a lot of pressure" as it pivots toward alternative energy sources. "I think this is all about consolidating into a smaller number of players, in a very mature industry, that is looked at as something that is not going to last forever," Hunt tells Yahoo Finance. Glickman, however, doesn't see the Conoco deal as "transformative," suggesting the company is on the defensive. With the Permian Basin posing headwinds for oil output, Glickman argues that by acquiring Marathon, Conoco is decreasing its Permian exposure — ultimately benefiting the company. He adds, "If you're going to grow at all, you're better off growing by acquisition than you are by throwing a lot of money into new cap-ex." For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Angel Smith
- Yahoo Finance Video
Why ConocoPhillips' $17B Marathon Oil deal is 'a surprise'
ConocoPhillips (COP) is set to acquire Marathon Oil (MRO) in an all-stock deal valued at $17.1 billion. Tortoise Portfolio Manager Rob Thummel joins the Morning Brief to explain why this acquisition has come as "a surprise." Thummel commends Marathon Oil's management team, stating that they "have really done a great job of being capital disciplined." This disciplined approach has resulted in a high free cash flow yield, which Thummel believes will be one of the most significant benefits to ConocoPhillips through this acquisition. However, Thummel describes Marathon Oil's actual assets as "good, not great." For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Angel Smith
