For Immediate Release
Chicago, IL –July 12, 2019 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include:Franco-Nevada Corp. (FNV – Free Report) , Royal Gold Inc. (RGLD – Free Report) , Rio Tinto Group (RIO – Free Report) , SSR Mining Inc. (SSRM – Free Report) and BHP Group plc (BBL – Free Report) .
Here are highlights from Thursday’s Analyst Blog:
Gold Pops on Powell’s Rate Cut Signal: 5 Top Picks
Gold price recouped losses and hit one-week high after Fed chairman Jerome Powell gave strong signals of an impending cut in benchmark interest rate later this month. Gold price skyrocketed in June after remaining range bound in the first five months of this year. The rally was primarily driven by three macro factors — a dovish Fed and other major central banks, trade-related conflict across the world and fears of a global economic slowdown.
Fed Signals an Impending Rate Cut
On Jul 10, in a testimony to the House Financial Services Committee, Powell said that the United States is suffering from a bout of uncertainty caused by trade tensions and weak global growth. He added “Crosscurrents have reemerged. Many FOMC participants saw that the case for a somewhat more accommodative monetary policy had strengthened.”
Per Powell, a series of recently released economic data and developments indicate that tensions related to world trade and global economy will continue to weigh on the U.S. economic outlook.
The Fed chair noted that while the U.S. jobs market remains robust and consumer spending may have rebounded in the second quarter, business investment, housing investment and manufacturing output weakened considerably. Inflation is likely to