Industrial metals are on fire baby, the clearest sign yet the global economy is alive and kicking.
Palladium topped $1,000 for the first time in more than 15 years on Monday, TheStreet's Martin Baccardax reported. Prices for the precious metal used in gasoline and hybrid fuel car engines continues to outperform commodity markets around the world. Palladium hit $1,007.18 an ounce in early London trading, the first time it breached the $1,000 mark since 2001, extending its year-to-date gain past 48%. Not a bad sign on the global economy. Neither is the move in little known metal rhodium, which is used in things such as aircraft spark plugs. On Friday, spot rhodium rallied $40 and hit $1,200 an ounce, more than doubling its gains since the start of the year. The rare metal is up nearly 70% year to date, or $485 an ounce, with prices rebounding from lows of $575 last seen in July 2016. Hey, Boeing's (BA) stock has had a strong year on demand for its airplanes, so rhodium's surge makes sense.
Rounding out this assessment from a guy that has never touched rhodium is the move in copper prices, which is now hovering around a three-year high. Strong reading on the health of the Chinese economy has helped copper, as has expectations on rebuilding efforts in the U.S. following an active hurricane season (think copper wires in homes). All in all, things are looking good out there -- that is until the market says good news is bad news again. Perhaps that happens this earnings season.
You have to hand it to BlackBerry (BBRY) CEO John Chen -- he has done one heck of a job bringing the former smartphone giant back to life.
Shares of BlackBerry have skyrocketed about 66% so far this year as turnaround specialist Chen and his hand-picked team have pivoted BlackBerry toward a play on several key trends. One is providing technology for connected and autonomous cars. In fact, the company scored a nice win last week by having the technology behind Canada's first on-road autonomous vehicle (a Lincoln MKZ if you must know). The other is developing a suite of products levered to cyber-security.
Two good trends to be playing in, no? BlackBerry will transfer its listing to the NYSE on Monday under the new symbol 'BB' as part of bringing more eyes on the company's turnaround efforts. I will be talking with Chen on the NYSE floor around 11 a.m. ET so keep an eye on @BrianSozzi on Twitter.
The Only Things I Want to Hear From Netflix
If you want the in-depth rundown on what to look out for in Netflix (NFLX) earnings after the close Monday, here is a great read from TheStreet's Eric Jhonsa. Since you are starved for time right now, these are the only two things I care about from this must-watch earnings report:
Consumer response to price hikes: Netflix shares have tacked on about 9% inside of a month on optimism recent price increases wouldn't send customers packing. If this latest round of price hikes stick, it would be a sign Netflix could jack up rates elsewhere in 2018. The market is banking on this happening.
The aftermath of Disney: Netflix CEO Reed Hastings has to continue to address Disney's (DIS) decision to get off Netflix so the market can grow more comfortable. When the news hit the wires during the summer, it spooked the bulls who reasoned Netflix's competitive advantage (it's own movie streaming network that people love) would erode over time. We need to here some soothing words from Hastings, or the stock is going right into the toilet.
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Join Jim Cramer, CNBC's Jon Najarian and Other Experts Oct. 28 in New York
Jim Cramer will host CNBC's Jon Najarian, TD Ameritrade's JJ Kinahan, famed analytics expert Marc Chaikin and other market mavens on Oct. 28 in New York City to share successful strategies for active investors.
You can join them as they discuss how smart investors can make the most of options trading, futures contracts, fundamental and quantitative analysis and great ETFs to buy right now. Participants will also get a chance to meet Jim and other panelists and take photos.
When: Saturday, Oct. 28, 8 a.m.-3 p.m.
Where: The Harvard Club of New York, 35 West 44th St., New York, N.Y.
Cost: Special early bird price: $150 per person. (Normal price: $250)
Click here for the full conference agenda or to reserve your seat now.