Gold mining stocks like GDX, NEM, B, and HL are expected to rebound in July due to lower energy costs and gold being oversold. Meanwhile, major AI-focused tech companies such as MSFT, META, AMZN, and ORCL are under pressure from rising AI infrastructure expenses, negative free cash flow, and increased debt issuance. The AI sector faces challenges including project delays and competition from cheaper Chinese AI models, impacting profitability. Additionally, risks in the private credit market are growing with higher redemption requests, record default rates, and exposure to vulnerable sectors like buy-now-pay-later and software firms. These trends highlight shifting dynamics in tech and commodity markets going into the second half of the year.
The VanEck Gold Miners ETF is rated Strong Sell due to overextended precious metals despite recent pullbacks. Treasury Inflation-Protected Securities (TIPS), especially the PIMCO 15+ Year US TIPS ETF, are recommended as better inflation hedges at cur...
The VanEck Gold Miners ETF (GDX) is recommended as a buy due to its strong fundamentals and attractive valuation. Key metrics like free cash flow/EV yield are at record highs, while forward P/E and EV/EBITDA ratios are at five-year lows, suggesting u...
