Why Newmont Stock Just Popped
Gold prices are fickle, but Newmont stock looks fairly priced.
Overview
Newmont Corporation (NYSE: NEM) stock jumped 2.8% through 10 a.m. ET Thursday as investors backed away from a sell-off sparked yesterday by the U.S. Federal Reserve raising interest rates for the first time in three years.
Image source: Getty Images.
Complaining that "inflation is too high and has been for too long," new Federal Reserve chairman Kevin Warsh announced yesterday the Fed will raise its target interest rate by 0.25%. The new range, 3.75% to 4%, means mortgages are about to become more expensive, credit card interest rates will rise, and bond yields will go up.
Details
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.