The commodity market hit a new high in Monday’s trading session, reaching $2,549.90. This performance marks an increase in value for 8 out of the last 9 trading sessions. Gold has surged by 4.5% over the past nine days, while silver has seen an impressive gain of 8.4% during the same period. Additionally, the VanEck Gold Miners ETF (GDX) has climbed by 6.3% in the past week and 10% over the span of nine days.
On Monday morning, the Dollar Index dropped to its lowest level since January 5th. A weaker dollar can often benefit U.S. exporters, as it makes their products more affordable for international buyers. One notable example is Procter & Gamble, whose stock has increased by nearly 5% since the start of August. In comparison, the S&P 500 has risen by approximately 1.5% over the same period.
Within the retail sector, home improvement companies have shown positive trends. Lowe’s has seen a 5% increase in its stock value over the past three months, with an overall gain of 11% in the last year. Similarly, Home Depot has experienced a 5% growth in the last three months and an 11% increase over the past year. However, luxury home furnishings company RH has faced challenges, with shares dropping by 23% in the last year and currently 30% below their September high.
In the sporting goods industry, Amer Sports has encountered a decline of 24% in the past three months, though the company has managed to rise by 12% in the last month. Dick’s Sporting Goods is trailing just 3% below its June high, while Academy Sports and Outdoors is 27% below its 52-week high from March.
A decision from the federal government regarding the merger between Hawaiian Airlines and Alaska Airlines is highly anticipated. Since December 3rd, Alaska Air has seen a 12% decline, while Hawaiian Airlines has soared by 225%. Furthermore, the NYSE Arca Airline Index has dropped by 11% over the same period. SkyWest Airlines has been a standout performer, with shares increasing by 53% since December 3rd.
Texas Instruments is set to hold a “capital management call” on Tuesday, attracting attention from investors. The stock has remained stable following the news of Elliott Management’s stake acquisition back in May. Texas Instruments has seen a significant growth of nearly 18% year-to-date. Additionally, the company is a component of the VanEck Semiconductor ETF (SMH), which has surged by 43.7% this year.
Berkshire Hathaway B shares reached a new high on Monday, with a 26% increase in value so far in 2024. The shares have also seen a 4.3% gain over the past week. This positive performance reflects investor confidence in the company’s strategies and long-term outlook.