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Coeur Mining (NYSE:CDE) announced it will acquire SilverCrest Metals (TSX:SIL,NYSEAMERICAN:SILV) in a US$1.7 billion deal, furthering its bid to position itself as a leading global silver producer.

The acquisition will see Coeur integrate SilverCrest’s Las Chispas mine in Sonora, Mexico, a high-grade, low-cost silver and gold operation. The transaction is also expected to bolster Coeur’s silver production, projecting an output of 21 million ounces of silver annually across five North American mining operations by 2025.

The combined entity will also produce an estimated 432,000 ounces of gold per year.

Under the terms, the transaction will involve a share exchange under which SilverCrest shareholders will receive 1.6022 Coeur common shares for each SilverCrest share.

Based on the closing prices of both companies on October 3, 2024, this equates to a per-share valuation of US$11.34 for SilverCrest, a premium of 18 percent over recent trading averages.

Upon completion, Coeur shareholders will own approximately 63 percent of the combined company, while SilverCrest shareholders will hold around 37 percent.

This acquisition is part of Coeur’s strategy to enhance its silver production and operational footprint in North America.

Coeur, which already operates the Rochester silver mine in Nevada and the Palmarejo underground mine in Mexico, will add Las Chispas to its portfolio, who in turn commenced commercial production in late 2022.

The combined company’s operations will focus predominantly on silver, which is projected to contribute 40 percent of revenues by 2025.

Coeur President and CEO Mitchell Krebs highlighted the importance of the acquisition for the company’s growth trajectory, stating that SilverCrest’s operational and financial strength would significantly enhance Coeur’s balance sheet and provide opportunities for investment in other projects.

“With over 15 years of experience operating our Palmarejo underground silver and gold operation next door in Chihuahua, we look forward to adding the high-quality Las Chispas mine to create a leading global silver company at a time when the demand for silver in renewable energy and a wide range of electrification end uses is rapidly rising,” Krebs added.

The acquisition is slated to close by late Q1 2025, pending approval from SilverCrest and Coeur shareholders, as well as regulatory clearances in Canada, Mexico and the US.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

The S&P/TSX Venture Composite Index (INDEXTSI:JX) was up 0.96 percent on the week to 595.59 by 12:00 p.m. EDT on Friday. Meanwhile, the S&P/TSX Composite Index (INDEXTSI:OSPTX) was up 0.69 percent to 24,133.27 points.

The US Bureau of Labor Statistics released its Employment Situation Summary on Friday (October 4). It reported that September saw nonfarm payroll employment increase by 245,000, beating analysts’ estimates of an increase of 140,000 jobs.

Expected to remain flat month-over-month, the unemployment rate instead fell to 4.1 percent compared to 4.2 percent in August, still higher than the 3.8 percent recorded a year earlier. Meanwhile, average hourly earnings also beat expectations with a 0.4 percent month-over-month growth and a 4 percent growth versus the same period in 2023.

The latest jobs data could impact the US Federal Reserve policymakers’ decision at their next meeting on November 6 and 7, as a strong job market can lead to rising inflation. Industry analysts are now overwhelmingly predicting a 25 basis point cut over a 50 point one, a significant change from last week, when the predictions were close to 50/50 with the larger cut coming out on top.

Following the release, markets saw slight gains in morning trading. The S&P 500 (INDEXSP:INX) gained 0.35 percent to 5,719.36, the Nasdaq-100 (INDEXNASDAQ:NDX) was up 0.65 percent to 19,914.45 and the Dow Jones Industrial Average (INDEXDJX:.DJI) climbed 0.31 percent to reach 42,140.31 by 12 p.m. EDT.

Gold and silver experienced high volatility Friday, with gold dropping 0.27 percent to US$2,648.24 per ounce, and silver gaining 1.27 percent to hit US$32.37 per ounce as of 12 p.m. EDT. More broadly, the S&P GSCI (INDEXSP:SPGSCI) gained 0.73 percent to 559.61 points.

Against that backdrop, how did TSX- and TSXV-listed resource stocks perform? Here are the top five gainers.

1. Adyton Resources (TSXV:ADY)

Company Profile

Weekly gain: 60.87 percent
Market cap: C$39.32
Share price: C$0.185

Adyton Resources is working to advance the Feni Island and Fergusson Island gold projects in Papua New Guinea.

The Feni Island site has seen historic exploration, with 212 holes drilled over 18,813 meters. While limited work has been conducted by Adyton, a 2021 resource estimate shows an inferred quantity of 1.46 million ounces of gold on site. The company has been working to expand its gold resource and explore for copper at greater depths than previous exploration.

The company’s Fergusson Island gold project consists of two advanced exploration licenses for the Wapolu and Gameta targets, which host a combined indicated resource of 173,000 ounces of gold from 4 million metric tons (MT) grading 1.33 grams per MT (g/t), and an additional inferred resource of 540,000 ounces from 16.3 million MT grading 1.02 g/t.

The most recent news from Adyton came on Monday (September 30), when it announced it will be undertaking a non-brokered private placement. The company intends to issue up to 53 million common shares at a price of C$0.13 for proceeds up to C$6.89 million. Funds will primarily be used to advance work at Feni Island.

2. Q2 Metals (TSXV:QTWO)

Company Profile

Weekly gain: 50 percent
Market cap: C$133.14
Share price: C$1.11

Q2 Metals is a gold and lithium exploration company with operations in the Eeyou Istchee James Bay region of Québec, Canada, as well as in Queensland, Australia.

Its Mia lithium property in Québec consists of 171 mineral claims. Exploration at the site began in 2023, with surface mapping taking place in June and its inaugural drill program commencing in October. Six kilometers north of Mia, the company owns the Stellar lithium property, which consists of 77 claims covering 3,972 hectares.

In February 2024, Q2 acquired the Cisco lithium property, which consists of 222 mineral claims covering 11,374 hectares to the south of its other projects in the region. Since acquiring the property, the company has completed extensive exploration work with a 12 hole, 3,752.8 meter drill campaign carried out in the spring and an additional five hole, 2,610 meter campaign in the summer.

Shares in Q2 saw gains after the company released assay results on Tuesday from its spring exploration program at Cisco. In the announcement, the company provided a highlighted interval grading 1.69 percent lithium oxide over 215.6 meters, including an intersection of 2.29 percent lithium oxide over 64.6 meters.

Company Vice President Neil McCallum said of the results, “One important observation of these results is the higher-grade nature of the larger mineralized system as we test and track the system progressing to the south.”

3. NOA Lithium Brines (TSXV:NOAL)

Company Profile

Weekly gain: 50 percent
Market cap: C$26.13
Share price: C$0.195

NOA Lithium is a lithium exploration company working to advance three projects located within the lithium triangle area of the Salta province of Argentina: the 37,000 hectare Rio Grande project, the 78,000 hectare Arizaro project and the 10,200 hectare Salinas Grandes project.

Of the three projects, Rio Grande is the most advanced. NOA filed an NI 43-101 report in July 2024 that included an updated resource estimate for the site, with total measured and indicated resources of 499,000 MT of lithium with an additional inferred resource of 384,400 MT.

While the company hasn’t released news recently, it saw significant gains in its share price this week.

4. Jervois Global (TSXV:JRV)

Company Profile

Weekly gain: 50 percent
Market cap: C$32.67
Share price: C$0.015

Jervois Global is working to advance a global portfolio of nickel and cobalt projects. It owns the Idaho Cobalt Operations in the US, at which it suspended mine construction in 2023 due to low cobalt prices.

According to Jervois, the Idaho Cobalt Operations have the largest US cobalt resource. A 2020 feasibility study shows that they have a measured and indicated resource of 50.1 million pounds of cobalt from 5.24 million MT grading 0.44 percent, with inferred values of 12 million pounds of cobalt from 1.57 million MT grading 0.35 percent.

The company announced in June 2023 that it had entered into a US$15 million agreement through the US Department of Defense’s Defense Production Act for exploration activities at its property.

In its most recent announcement from the project, released on July 31, Jervois reported that extensional drilling at the Idaho Cobalt Operations had shown positive resource growth potential, with cobalt, gold and copper mineralization at depth. In the announcement, the company provides a highlighted result of 1.1 percent cobalt, 1.18 percent gold and 0.69 g/t gold over 1.8 meters.

Shares in Jervois Global saw gains this past week but the company did not release news.

5. P2 Gold (TSXV:PGLD)

Company Profile

Weekly gain: 46.15 percent
Market cap: C$13.1 million
Share price: C$0.095

P2 Gold is a gold exploration and development company working to advance projects in the US and Canada.

Its flagship Gabbs gold and copper project is located 233 kilometers from Reno, Nevada, and consists of 543 lode claims and one mining claim covering 4,500 hectares.

In a preliminary economic assessment for the project released on July 4, the company reported an after-tax net present value (NPV) of US$550 million and an internal rate of return of 21 percent with a payback period of 3 years based on a gold price of US$1,950 per ounce. However, the company noted that with a gold price of US$2,414 per ounce, the NPV increases to US$949.2 million.

Additionally, the report included mineral resource estimates for the site with indicated resources of 720,000 ounces of gold, 2.2 million ounces of silver and 297 million pounds of copper from 49.8 million MT, with additional inferred resources of 1.28 million ounces of gold, 3 million ounces of silver and 567.1 million pounds of copper from 112.2 million MT.

The most recent news from the company came on September 17 when it announced it had upsized and closed the final tranche of its non-brokered private placement to raise gross proceeds of US$1 million from the sale of 20 million shares. Proceeds will be used to fund exploration and development expenditures and general corporate purposes.

Data for this 5 Top Canadian Mining Stocks article was retrieved at 12:00 p.m. EDT on October 4, 2024, using TradingView’s stock screener. Only companies trading on the TSX and TSXVwith market capitalizations greater than C$10 million are included. Companies within the non-energy minerals and energy minerals sectors were considered.

Article by Dean Belder; FAQs by Lauren Kelly.

Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.

Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Geopolitical tension clashed with uplifting jobs data, making for an interesting week on Wall Street.

Meanwhile, the crypto market went on a wild ride along with the greater stock market, and the US Securities and Exchange Commission (SEC) revived a nearly four-year-old case against Ripple Labs.

At OpenAI, a previously announced funding round wrapped up, bringing the company’s valuation above estimated projections.

1. OpenAI concludes latest funding round, exceeding target

OpenAI is predicting its revenue will reach US$11.6 billion next year, significantly surpassing the estimated US$3.7 billion it is projected to make in 2024. A Reuters source says this growth will be driven by corporate sales of its AI features and subscriptions to ChatGPT.

Bloomberg reported on September 11 that the company was seeking US$6.5 billion in a new funding round, drawing interest from venture capital investors and industry peers. OpenAI ultimately raised US$6.6 billion, announced on Wednesday (October 2), resulting in a valuation of US$157 billion, according to a press release.

While OpenAI did not disclose the full list of investors, reports indicate participation from Microsoft (NASDAQ:MSFT), NVIDIA (NASDAQ:NVDA) and SoftBank (TSE:9984), along with several venture capital firms. NVIDIA’s contribution of roughly US$100 million marks the company’s first investment in OpenAI. Its share price surged over 3 percent from Wednesday’s close on Thursday (October 3) morning. The company gained 5.69 percent this week.

NVIDIA’s performance, September 30 to October 4, 2024.

Chart via Google Finance.

While Apple (NASDAQ:AAPL) was rumored to be considering participation in the funding round, the Wall Street Journal reported on Monday (September 30) that the company ultimately decided not to invest.

Its share price is down over 2 percent for the week.

The funding round came in the form of convertible notes, with the stipulation of a successful restructuring to give majority control to a for-profit arm. There is also a clause to remove the cap on returns for investors and a condition that prevents inventors from backing rival companies, such as Elon Musk’s xAI, as reported by the Financial Times.

2. Crypto markets rally, end the week on a high note

Bitcoin’s record-breaking September came to an abrupt end on Tuesday (October 1), with the cryptocurrency falling 6.8 percent to US$61,279.47 on Friday (October 4) morning from its peak of US$66,078. Ether, Solana, Cardano, XRP and Ton also experienced losses this week, and hefty outflows from spot exchange-traded funds were observed.

10x Research attributes Bitcoin’s initial drop on Monday to overbought conditions and apprehension surrounding Tuesday’s monthly US ISM Manufacturing data, a key economic indicator.

Further losses across the crypto market were fueled by rising tensions in the Middle East and the dockworkers strike along the east coast of the US. These events quickly dashed hopes of a bullish “Uptober,” a term used to describe a historically positive period for cryptocurrency prices in October.

Amid these volatile trading conditions, on Wednesday crypto asset manager Bitwise filed a Form S-1 with the SEC to launch an ETF for Ripple Labs’ XRP token. This move came as the SEC filed a notice to appeal Judge Analisa Torres’ August 7 ruling on Ripple Labs. The ruling states that Ripple Labs was in violation of securities law only when tokens were sold to institutional investors, and the judge ordered the company to pay a fine of US$125 million for improper selling — just over 6 percent of the US$2 billion the SEC was seeking.

In a statement, an SEC spokesperson said, ‘We believe that the district court decision in the Ripple matter conflicts with decades of Supreme Court precedent and securities laws and look forward to making our case to the Second Circuit.’

Bitcoin’s 24 hour price performance as of Friday at 4:00 p.m. PDT.

Chart via CoinGecko.

However, the tone shifted again on Friday afternoon as the US Department of Labor reported that the economy added 254,000 jobs in September, much higher than the expected 150,00. This provides a compelling rationale for the Federal Reserve to reduce interest rates gradually, which is good news for crypto markets. Bitcoin and Ether are up 2.3 percent and 3.4 percent, respectively, just after Friday’s closing bell, marking the end of a turbulent first week of Q3.

3. California governor vetoes Senate Bill 1047

California Governor Gavin Newsom made a long-awaited decision regarding SB 1047, a comprehensive artificial intelligence policy that would have held developers responsible for “severe harm” caused by their technologies.

Describing the bill as “well-intentioned,” Newsom ultimately decided to veto the bill, authored by Senator Scott Weiner (CA-D). In a statement, the governor said the legislation would have applied “stringent standards to even the most basic functions” and that regulation should be based on “empirical evidence and science”. He also noted that a California-only approach to AI regulation could be warranted, “especially absent federal action by Congress.’

However, SB 1047’s focus on large, expensive AI models could mislead the public about the level of control over this rapidly evolving technology. It’s possible that smaller, specialized models, not covered by the bill, could pose equal or greater risks, potentially stifling innovation that benefits the public.

The idea that overly stringent regulation would stifle progress and innovation in the field was the main argument made by opponents of the bill, which included former House Speaker Nancy Pelosi, Big Tech CEOs and venture capital firm Andreessen Horowitz, which has invested billions in AI.

4. AI startup Cerebras files for IPO

Cerebras Systems, an AI startup that builds specialized computer systems to facilitate deep learning, filed a registration statement for an initial public offering with the SEC on Monday. The company has experienced rapid growth and could one day challenge NVIDIA’s dominance in the chip manufacturing industry in the US.

Cerebras’ flagship product, the Wafer Scale Engine (WSE), is the largest chip ever made. Unlike traditional graphic processing units (GPUs), including NVIDIA’s H100 GPU, which separate processing and memory, the WSE integration is designed to keep data on the chip rather than transferring it to different locations within a system or across a network.

The transfer of data creates what’s often called the Neumann bottleneck, a fundamental limitation that hinders performance by slowing down data access. Cerebras’ architecture minimizes the distance data needs to travel, reducing latency and improving performance. This makes it an ideal solution for tasks that require massive data sets, such as genomic research, climate modeling, fraud detection and of course training large language models.

Recent filings show Cerebras’ revenue surged nearly 70 percent in 2023 to US$78.7 million, compared to US$24.6 million the previous year. At the same time, losses narrowed from US$4.28 per share to US$2.92.

The company will list its Class A common stock on the Nasdaq under the symbol CBRS. The number of shares and the price range were not determined at press time.

5. Tesla stumbles after auto revenue declines

Shares of Tesla (NASDAQ:TSLA) are down 3.78 percent for the week following the company’s release of its Q3 results on Tuesday, which showed the company delivered 463,000 vehicles and produced approximately 470,000.

Tesla also reported a 2 percent increase in annual revenue to US$25.50 billion, topping LSEG estimates of US$24.77 billion. However, auto revenue fell by a whopping seven percent compared to a year ago, topping out at US$19.9 billion. Earnings per share also fell short of estimates, coming in at US$0.52 compared to US$0.62.

The company has had a rocky year, facing increased competition in China and regulatory scrutiny in the US. In July, sources for Bloomberg revealed that time constraints forced the company to delay the unveiling of its highly anticipated robotaxi from August 8 to October 10.

Tesla’s performance, September 30 to October 4, 2024.

Chart courtesy of Google Finance

Following the report’s release right after Tuesday’s closing bell, Tesla stock fell by over 4 percent in after-hours trading. Its share price slid a further 2 percent after the market’s opened on Wednesday before recovering to around US$250, roughly three percent lower than Monday’s opening price. Tesla closed the week at US$250.08.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

A 21-year-old Yazidi woman has been rescued from Gaza where she had been held captive by Hamas for years after being trafficked by ISIS.

The Israel Defense Forces (IDF) said Thursday that Fawzia Amin Sido was freed this week in an operation coordinated between Israel, the United States and other international actors.

She said that she was initially kidnapped by ISIS as a child in August 2014 when the group captured the city of Sinjar in the Nineveh Governorate of northern Iraq, executing Yazidi men and boys and committing acts of sexual violence and rape against women and girls, among other crimes.

Over the next few years, Fawzia was trafficked to different locations across several countries.

“We ended up in Al-Hol camp (in Syria) before we were smuggled to Idlib in 2019, and from there, we went to Turkey. In 2020, they arranged a passport for me in Turkey so I could fly from Istanbul to Hurghada, Egypt, and then to Gaza,” she said.

“Hamas constantly harassed me due to my Yazidi background and contact with my family, even going so far as to format my phone [erase its contents] during their investigations. After a year, they moved me to a guest house.”

When the Israel-Hamas war broke out in 2023, she was again moved around frequently – until October 1, when she said an NGO rescued her.

The IDF said that her captor was killed, “presumably during IDF strikes” in Gaza, allowing her to flee to a hideout, from where she was rescued and taken to the Kerem Shalom border crossing.

“From there, American officials took me and helped return me to Baghdad,” she said.

Israel released a video showing her reuniting with her family members, who were overcome with emotion as they embraced her.

Iraq’s Ministry of Foreign Affairs said she was freed after over four months of efforts from Iraqi government agencies working with American and Jordanian authorities.

US State Department spokesman Matthew Miller confirmed that the US helped evacuate Fawzia from Gaza. He echoed Israel’s account, saying that “the recent death of her captor in Gaza allowed her to escape.”

“We were contacted by the Iraqi government, who was made aware of the fact that she escaped, that she was alive, and that she wanted to come home to her family. And the government of Iraq asked us to do whatever we could to get her out of Gaza and get her home. So over the past few weeks, we worked with a number of our partners in the region to get her out of Gaza,” Miller said at a press briefing on Thursday.

This post appeared first on cnn.com

The fate of a possible successor to Hezbollah leader Hassan Nasrallah is unclear following an Israeli airstrike on Beirut.

Safieddine is a maternal cousin of Nasrallah – the two studied in Iran together in the early 1980s. Just like Nasrallah, Safieddine is a staunch critic of Israel and the West, with deep alliances with the Iranian leadership.

Safieddine served as head of Hezbollah’s executive council and, until his predecessor’s death, was seen as one of the most likely heirs to the organization’s highest-ranking seat. The group has yet to name a successor to Nasrallah.

The executive council is one of five bodies that make up the Shura Council, which is the organization’s decision-making body. The executive council oversees political matters, as opposed to the Jihad Council which is the group’s military body, which Safieddine is a member of.

Safieddine has previously spoken of the “strong relationship” between Hezbollah and Iran’s Revolutionary Guard Corps (IRGC), and especially Iranian general Qasem Soleimani, who was killed in US airstrike at Baghdad airport in 2020. Safieddine’s son is married to Soleimani’s daughter.

The Shiite cleric was born in 1964 in the southern Lebanese village of Deir Qanoun En Nahr. Like the late Hezbollah leader, he wears the black turban signaling that he is a “Sayyid,” a Shiite honorific title denoting descent from Prophet Mohammed.

The 60-year-old cleric has had a visible presence across Hezbollah’s political stage, especially over the past year. Throughout the Gaza war, Safieddine would make statements denouncing Israel’s actions in the enclave and on his country’s southern border.

Nasrallah “started tailoring positions for him within a variety of different councils within Lebanese Hezbollah. Some of them were more opaque than others. They’ve had him come, go out and speak,” Phillip Smyth, an expert who studies Iran-backed Shiite militias, told Reuters.

Speaking at the funeral ceremony of one of the slain Hezbollah members in May, Safieddine boasted that his group is nonetheless strong and resilient, prioritizing – along with their Iranian allies – the Palestinian cause and the need to liberate the Palestinian people.

Following the back-to-back explosions that targeted Hezbollah pagers and walkie-talkies, Safieddine said that his organization “will not back down until the end.”

Saffiedine has long been a hawkish critic of US policy, which he sees as aiding and abetting Israel’s actions in Gaza and southern Lebanon.

In 2021, he accused Washington of “interfering” in Lebanese domestic politics, saying that “American tyranny” is “sabotaging” the region’s nations, citing Iraq and Afghanistan among examples.

The United States designated Hezbollah a foreign terrorist organization in 1997, and in 2017 designated Safieddine a foreign terrorist.

This post appeared first on cnn.com

Yair Pinhas grew up hiking in the hills around Kiryat Shmona, his hometown in northern Israel, near the border with Lebanon.

“We always thought that the October 7 (attack) would happen here, we always talked about it,” he said, rolling a cigarette outside a hotel on the shore of the Sea of Galilee, about 40 miles from Kiryat Shmona.

Pinhas’ parents and his elderly grandmother have been living in this hotel for almost a year, ever since they were evacuated from Kiryat Shmona following the October 7 terror attacks. Pinhas spent months couch-surfing with friends in Tel Aviv before renting an apartment there; he comes regularly to see his family.

Kiryat Shmona, which sits in a pocket of Israeli land surrounded by Lebanon, just a couple of miles to the south and east from the border, sits on the opposite side of Israel to where the Hamas-led attacks took place last year. But its proximity to Lebanon makes it vulnerable to Hezbollah, the Iran-backed militant group that has been attacking Israel on a regular basis over the past year, in support of Hamas.

Israel has responded with cross-border attacks and the two sides have been engaged in a tit-for-tat escalation since October 8. Hezbollah has said it will not stop striking Israel until a ceasefire is reached in Gaza.

The city was hit multiple times in recent months, most recently by a barrage of rockets that caused heavy damage and several fires on Friday morning, according to Israeli police.

“When I was growing up, it wasn’t just sirens like now… it was someone blaring from a car, ‘everybody get to shelters! Everybody get to shelters!’ And in school, when the alarm went off, nobody was freaking out because we were used to it,” he said.

“Everybody goes into the shelter, you hear the bombs and then wait for somebody to tell you it’s safe to leave,” he explained, adding that while the locals have gotten used to attacks from the skies, there has always been the worry that Hezbollah could try to storm them from the ground.

“There was a warning some months before October 7, saying you need to know that the next war won’t be just rockets. They will come here. There are a lot of tunnels, and we need to prepare ourselves… and we didn’t. People are stupid. Until something happens, you don’t really act,” he said.

But then came the shock of the terror attacks, when Hamas and other militant groups killed more than 1,200 people in southern Israel and kidnapped some 250 more into Gaza.

“Everything has changed then,” Pinhas said. “We thought our army was strong and prepared and suddenly you see this, shooting everywhere. I had three friends who were at the Nova festival, one of them died, two were saved,” he said.

‘There will be a lot of deaths’

The Israeli government said the fate of people like Pinhas is among the reasons why it needs to act forcefully against Hezbollah in Lebanon.

Speaking at the United Nations General Assembly meeting last week, Israeli Prime Minister Benjamin Netanyahu said Hezbollah had fired more than 8,000 rockets at Israel since October 8, forcing some 60,000 people to flee their homes along the border.

“Israel has been tolerating this intolerable situation for nearly a year. Well, I’ve come here today to say enough is enough. We won’t rest until our citizens can return safely to their homes,” he said.

Shortly after Netanyahu spoke at the UN, the Israel Defense Forces (IDF) launched a deadly strike on the Lebanese capital Beirut, targeting and killing Hezbollah’s long term leader Hassan Nasrallah.

Three days later, the IDF said it was launching a “limited and localized” ground operation in Lebanon. The IDF’s top spokesperson, Rear Adm. Daniel Hagari, said the move was designed to prevent an October-7 style attack by Hezbollah and “to enable all 60,000 Israelis to safely return back to their homes in northern Israel.”

But at least some of the people whose fates Netanyahu invoked during his speech are questioning the decision.

“I think that it’s very dangerous for the army to go to Lebanon, because there are many, many traps… I think that we can protect the border by plane. Or go (in) and come back… But not stay (in Lebanon), it’s too dangerous,” she said.

Hatan, whose house overlooks the Lebanese border, has lived in Shtula her whole life. She said that she’s worried current warfare is much more deadly than it was in 2006, the last time Israel invaded Lebanon.

Pinhas, too, is conflicted about Israel’s decision to cross the border.

“It’s very hard. On (the) one hand, I can say, yes, you’re right, because we need to go back home and we need to bring peace to our town. So my first thought is we need to do something about it, because their (Hezbollah’s) main purpose is to kill us,” he said.

“But the other thing that I’m feeling, and everybody’s feeling that, is that this is very dangerous, and there will be a lot of deaths. Hezbollah, they know very well their territory there, this is their playground. This is not like in 2006, this is not a small group, we gave them a lot of time to prepare themselves and get a lot of ammunition,” he added, referencing the 2006 Israeli invasion into Lebanon which lasted 34 days and ended in a stalemate after killing some 1,100 people on the Lebanese side and about 170 Israelis.

The Israeli offensive is among the most intense in decades, surpassed only by its bombing of Gaza.

Standing on a hilltop in Kiryat Shmona, the scale of the bombardment becomes apparent as a steady stream of loud bangs reverberates throughout the valley. A loud boom when the artillery round gets fired, followed by a whizz overhead. A while later, a deep thud of the impact somewhere behind the border.

A city of some 22,000, Kiryat Shmona has turned into a ghost town over the past year. Signs of destruction are clearly visible throughout its streets – shrapnel holes in facades, damage caused by falling debris, destruction caused by direct hits by rockets.

On Thursday, marking the Jewish new year, the Pinhas family snuck back into Kiryat Shmona for a brief visit.

“To water the plants and feed the cats. There are many street cats in Kiryat Shmona and they need feeding,” Pinhas said.

Several rockets were fired at the city from Lebanon on Thursday but were intercepted by the Iron Dome air defense systems, the bright light of interceptor missiles popping up in the skies and chasing away the threat.

A black and white cat, meanwhile, continued to rummage through the pile of debris lying in front of a family home destroyed in an earlier rocket attack.

This post appeared first on cnn.com

Israel has pummeled Lebanon with an unprecedented airstrike campaign in less than three weeks, killing over 1,400 people, injuring nearly 7,500 others and displacing more than one million people from their homes, according to the Lebanese health ministry.

The bombardment, which Israel says is targeting Hezbollah strongholds in the country, marks the world’s “most intense aerial campaign” outside of Gaza in the last two decades, according to the conflict monitoring group Airwars.

Over the course of two days, on September 24 and September 25, the Israel military said it used 2,000 munitions and carried out 3,000 strikes.

“This isn’t normal,” Tripp said of both the scale and size of Israel’s strikes on Lebanon.  While Israel’s air campaign is extremely “unusual,” Tripp said its assault on Gaza over the last year – where nearly 60% of buildings are estimated to have been damaged from Israeli strikes – have normalized such mass assaults.

Israel says it takes steps to minimize civilian harm, like making phone calls and sending text messages to residents in buildings designated for attack. Human rights groups like Amnesty International say such warnings do not absolve Israel of responsibilities under international humanitarian law to limit civilian harm.

As a result, the death toll in Lebanon continues to rise, with a fifth of its population now displaced.

Hezbollah and Israel have consistently been exchanging fire since October 8, the day after the Hamas-led attack on Israel, in which more than 1,200 people were killed and 250 taken hostage. Hezbollah, an Iran-backed militant group, has said that it will not stop striking Israel until a ceasefire in Gaza – where the Israeli bombardment has killed more than 41,000 people in the past year, according to the ministry of health in the territory – is reached.

The majority of the fire exchanged between Israel and Hezbollah since the start of the war has come from Israeli strikes, drones, shelling and missiles on Lebanese territory, according to data from ACLED (Armed Conflict Location and Event Data), an organization that collects data on violent conflict.

Israel has launched nearly 9,000 attacks into Lebanon since October 8; Hezbollah launched 1,500 attacks in that same time frame, according to the ACLED data.

On September 25, Israel further escalated its air campaign with an intense barrage of strikes across swathes of Lebanon, marking the deadliest day for Lebanon since the 2006 Israel-Hezbollah war – and a turning point in the current conflict.

While most of Israel’s airstrikes over the past year have targeted southern Lebanon, Israel has also ramped up its attacks on Lebanon’s capital in recent weeks, with multiple airstrikes in southern Beirut flattening residential buildings and heavily populated civilian areas.

A rapid succession of strikes has killed at least seven high-ranking Hezbollah commanders and officials in recent weeks, dealing the most significant blow to the group since its formation in the early 1980s.

Those strikes have mostly been concentrated in the city’s southern Dahiyeh neighborhood, a densely packed residential area and Hezbollah stronghold. It was there that Israel assassinated the militant group’s leader in an air raid on his underground bunker on September 27.

But as Israel’s campaign to disarm Hezbollah continues, civilians are paying the highest price, including 127 children who have been killed in less than three weeks, according to the health ministry.

On September 23 alone, at least 558 people – including 50 children and 94 women – were killed.

Women and girls are also particularly affected by the displacement caused by the airstrikes, according to Lebanon’s country director at the humanitarian agency CARE International. Nearly half of the people in Lebanon’s emergency shelters for displaced people are children, and the facilities are operating beyond capacity, Michael Adams said.

Now, Israel is targeting central Beirut  – not its suburbs – with airstrikes for the first time in nearly 20 years.

Meanwhile, a quarter of Lebanese territory is now under Israeli military evacuation orders​ as Israel intensifies its ground operation in the south, with its inhabitants pushed more than 30 miles north of their homes.

More than 100 villages in southern Lebanon have now been issued the evacuation notices, stoking fears of an expanded ground invasion.

Residents have no idea when they might be able to return – or what they might find remaining.

This post appeared first on cnn.com

S&P 500 and Nasdaq: New support and targets on Friday

  • This week has not been kind to the S&P 500 index
  • The value of the Nasdaq index retreated to the 19614.1 support level on Tuesday

S&P 500 chart analysis

This week has not been kind to the S&P 500 index. On Tuesday, we had a strong bearish consolidation; on Wednesday, we formed a new weekly low at the 5673.1 level. From then until now, we see a sideways movement of the index in the 5675.0-2720.0 range. Additional pressure in the upper zone makes the EMA 200 moving average. Today’s picture has slight positive indications as support has risen to the 5695.0 level.

Expectations are growing that the S&P 500 has enough strength to jump over the EMA 200 and continue towards the weekly open zone around 5730.0. If we succeed in this, the optimism for the continuation to the bullish side grows. Potential higher targets are 5740.0 and 5750.0 levels. For a bearish option, we need a negative consolidation and a pullback of the index below the 5680.0 level. With those steps, we will put pressure on the support zone, and we need a break below to confirm the bearish scenario. Potential lower targets are 5670.0 and 5660.0 levels.

 

Nasdaq chart analysis

The value of the Nasdaq index retreated to the 19614.1 support level on Tuesday. After that, the index starts the initial consolidation in the 19650.0-19850.0 range. During this morning’s Asian session, we moved close to the upper line of the current range, and there we encounter the EMA 200 moving average. To continue on the bullish side, we need an impulse above at least the 19900.0 level.

That should be plenty of room for the Nasdaq to consolidate above the EMA 200 and continue to rise. Potential higher targets are 19950.0 and 20000.0 levels. For a bearish option, we need a negative consolidation and pullback down to the 19650.0 support level. This puts pressure on this week’s support zone. New pressure could easily push the Nasdaq to a new low and thus confirm the move to the bearish side. Potential lower targets are 19600.0 and 19550.0 levels.

 

The post S&P 500 and Nasdaq: New support and targets on Friday appeared first on FinanceBrokerage.

Here’s the issue with gold: it’s difficult to find as much info on it as stocks. For many investors, the buzz around Costco’s (COST) gold sales put gold back on the mainstream radar. But that won’t tell you if it’s still a smart buy or what price you should pay for it.

This is where technical analysis comes in—it examines things from a clearer, more objective perspective. 

In a previous article, I covered gold projections using SPDR Gold Shares ETF (GLD) as a proxy. If you were even semi-bullish on gold, I hope you followed along, as intermediate-term targets were hit, along with an added bonus of a short-term trade.

Let’s take a look.

First, log in to your StockCharts platform and click here for the weekly before/after chart.

CHART 1. WEEKLY CHART OF GLD. The price bars after the orange arrow is what happened after the September 17 article on GLD.Chart source: StockCharts.com. For educational purposes.

In a  nutshell, here’s what happened:

  • The orange arrow pointing at the 127.20% Fibonacci Extension is where the last article left off.
  • The 138.20% Fib target was also reached, and GLD appears to be moving toward the 161.80% target.

The daily chart also pointed out a solid entry point, and now you can see the before and after results laid out clearly.

CHART 2. DAILY CHART OF GLD. The green vertical line denotes the before/after in relation to the September 17 article.Chart source: StockCharts.com. For educational purposes.

Take a look at everything to the right of the green vertical line:

  • As mentioned in the last article, the 50% level at the bottom of the 2nd Quadrant Line marks a strong entry point. The magenta circle highlights the bounce, as anticipated.
  • As price reached the 138.20% Fib extension target of $242.50, there was yet another short-term trading opportunity that occurred—a measured move of 5.2% from the bounce to just under $247.

Can GLD Hit the 161.80% Fib Extension Target Above $250?

Although analyst targets are varied, Goldman Sachs just upped its gold target to $2,900 an ounce, but it’s a long game. If you’re looking at GLD, that would mean a potential price of $280, and Goldman is aiming for early 2025. So expect some bumps along the way, with pullbacks likely. Keeping an eye on the global and economic factors pushing gold is key if you’re in this for the long haul.

Central banks are also playing a big role in the gold market. In 2024, they scooped up 290 metric tons of gold in just the first quarter—the biggest quarterly haul in over 20 years. With no signs of slowing down, central banks are keeping gold demand strong and steady, setting the stage for its long-term growth.

Closing Bell

So let’s wrap it up. There are plenty of reasons to be bullish on gold. If you’re eyeing GLD, keep tracking those Fib targets, but don’t forget that the ride could be bumpy. You will have to redraw a new set of Quadrant Lines and measure both the pullbacks and extensions. You may also find a few more shorter-term trades in the process. While global factors may shake things up along the way, you’ve got the tools to take advantage of the situation, no matter which direction GLD takes.


Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation or without consulting a financial professional.

In this video from StockCharts TV, Julius explores the October seasonal outlook for the S&P 500 and various sectors. Seasonality suggests a potential rise in the S&P 500, fueled by strength in technology, but there are still concerns about the ongoing negative divergence between price and key indicators like RSI and MACD.

This video was originally published on October 3, 2024. Click anywhere on the icon above to view on our dedicated page for Julius.

Past episodes of Julius’ shows can be found here.

#StayAlert, -Julius