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April 12, 2025

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This Report Might Self Destruct in 5 Days

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In the opening scene of Mission Impossible 2, Ethan Hunt receives a message at the top of a sandstone butte. He puts on the glasses and listens to the message, which ends with the computer-generated phrase: “This message will self-destruct in five seconds.” Ethan throws the glasses, and they explode.

Analysis in the current climate lasts more than five seconds, but it is vulnerable to self-destruction in five days. Keep this in mind when digesting reports and analyzing charts. We are in an extremely fluid and volatile period right now.

Note that the stock market timing model at TrendInvestorPro turned bearish in mid-March and remains bearish. Wednesday’s 10.5% surge in SPY was impressive but not enough to reverse this signal or trigger a bullish breadth thrust. Follow-through is what differentiates oversold bounces from bullish breadth thrusts. We will monitor our thrust models closely in the coming days and weeks. Click here to take a trial and get immediate access to all our reports and videos.

Now let’s turn to the bond market. Treasury bonds are plunging, which means long-term Treasury yields are rising—and rising sharply. The 30-year Treasury yield hit 4.86%, rising from 4.40% (+0.46 or 46 basis points). This is the largest 4-day rise in over 30 years. The 10-year Treasury yield is also on the move, hitting 4.44%. Safe-haven bonds are supposed to attract money when volatility and risk rise in the equity market. They are doing the opposite, and this is disconcerting. For history buffs, note that the bond vigilantes were also active from October 1993 to November 1994 as the 10-yr Treasury Yield rose from 5.2% to 8%. 

Bonds move in the opposite direction of yields, which means the 20+ Year Treasury Bond ETF (TLT) is breaking down. The chart below shows weekly candlesticks for TLT over the last four years. TLT fell from December 2021 to October 2023, formed a rising wedge into September 2024, and broke down in October. The ETF continued lower, recording 52-week lows in December and January. The wedge break signaled an end to the corrective bounce and a continuation of the larger downtrend. New lows are expected.

The next chart shows daily candlesticks over the past year. TLT fell sharply from mid-September to early January, rebounded with a rising wedge into early April, and broke down this week. Notice how TLT reversed in the Bearish Setup Zone (pink shading). The 50–61.8% retracement area and resistance from the early December high define this zone. During counter-trend bounces, I use these tools to define a potential reversal zone. TLT reversed with a vengeance this week and broke down. 

The bottom window shows the PPO (5,200,0) with signal lines at +1% and -1% for signals. This indicator shows the percentage difference between the 5-day and 200-day EMAs. I use signal thresholds just above and below zero to reduce whipsaws. The PPO crossed below -1% in mid-October to signal a downtrend, and this signal remains in play. A move above +1% is needed to signal an uptrend and re-evaluate my bearish stance.

As with equities, bond market volatility surged over the last two weeks with TLT surging 5% from March 27th to April 3rd, and then falling 8% the last four days. These swings are based on intraday highs and lows. Volatility makes chart analysis challenging, but I will adhere to signals until they are proven wrong, which could be in five days. Be careful out there! 

It was a busy week in the markets with TrendInvestorPro covering several key issues. We started the week by highlighting the 3 standard deviation decline in SPY and some extremely oversold breadth indicators. We then looked at 2008 to compare Wednesday’s bounce with some of the other bear market bounces. The week ended with analysis of gold, the Yen, TLT, SPY and QQQ. Click here to take a trial and get immediate access to our reports and videos.

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Trade War Mayhem? Here’s How to Cut Through the Noise!

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The current tariff environment is full of sudden moves that could have broad and long-lasting effects. The challenge is that we don’t know what those long-term impacts will be, mainly because it’s unclear how long the tariffs will last or what things will look like if they become permanent. That makes it incredibly hard to plan or make smart decisions right now.

Near-term shocks are preventing us from estimating the longer-term picture. Perhaps an effective way to counterbalance the geopolitical and market news with some objectivity, then, is to look under the stock market’s hood and take a good look at its breadth of movement—specifically, a longer-term summation of advancing vs. declining stocks. One indicator that’s designed specifically to do this, and one you might want to consider, is the McClellan Summation Index.

What Does the McClellan Summation Index Tell You?

Derived from the McClellan Oscillator, the McClellan Summation Index is a long-term market breadth indicator that shows whether more stocks are generally advancing or declining over time.

Think of it as a cumulative McClellan Oscillator of sorts. When the McClellan Oscillator is positive (above zero, meaning more advancers than decliners), the McClellan Summation Index trends upward; when the oscillator is negative (more decliners than advancers), the corresponding summation index trends downward. As you’ll see in Figure 1, uptrend and downtrend are color-coded black and red, respectively, so you distinguish the turns.

Generally, when the summation index is above zero (or +500), it signals bullish momentum (+500 signaling extremely bullish momentum); below zero (or –500), it reflects bearish (or exceedingly bearish) momentum. By smoothing out the short-term noise of the McClellan Oscillator, the summation can help you gauge the underlying strength or weakness of a market trend.

And smoothing out the noise coming out of the current trade war environment is probably something you’ll want to see.

Take a look at a three-year chart of the NYSE McClellan Summation Index paired with the S&P 500.

FIGURE 1. THREE-YEAR CHART OF THE NYSE MCCLELLAN SUMMATION INDEX WITH THE S&P 500. Notice the index turning points as they correspond to the ZigZag lines in the S&P. Chart source: StockCharts.com. For educational purposes.

The NYSE McClellan Summation Index is in negative territory below the zero line, and the S&P is undergoing a steep drop.  The Summation Index shows that declining stocks are far outnumbering advancing stocks, providing a breadth-informed perspective from which to view the broader market’s bearish decline.

While you can wait for the summation index to cross over the zero line (or even above 500), one way to interpret an early bullish signal is to apply a simple moving average (SMA), such as a 20-day SMA (see purple-dotted line).

As you can see in the chart above, there were many crossovers, indicating upturns and downturns. So, how might you avoid getting whipsawed and taking action on a false signal? You have to watch the price action, particularly the swing highs and lows (remember, an uptrend consists of HH + HL, and the reverse is true of a downtrend). This is where the ZigZag line comes in handy.

  • The chart illustrates the S&P 500 trending higher from the last quarter of 2022 to the breakdown in March 2025.
  • Note how almost all crossovers below the negative line (highlighted by the blue circles) forecasted new highs in the S&P 500.
  • The June 2023 crossover was the exception, but the pullback stayed well above the March 2023 low, sustaining its primary uptrend.
  • In October 2024, the summation index began falling as the S&P 500 continued making new highs.
  • The last SMA crossover preceded a new high, but the S&P finally broke down (see dotted line), leading to where we are now.

At the Close: What Now?

The broader market is trading on tariff-driven headlines, with policy shifts carrying enough weight to reshape the underlying fundamentals. Short-term technicals reflect this uncertainty through heightened volatility, some of which feels nearly unprecedented. In contrast, the longer-term picture—viewed through the lens of the McClellan Summation Index—appears steadier, though still susceptible to noise.

For long-term investors seeking early signs of a shift, watch the Summation Index closely. A bullish crossover above its moving average may be the first clue, but the real confirmation comes from trend behavior. Use tools like the ZigZag indicator to track swing highs and lows—what you want to see are higher highs and higher lows taking shape. Until then, most other market interpretations remain at the mercy of sudden geopolitical shifts—moves that are unpredictable in both timing and duration.

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.

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Master the Market: A Guide to StockCharts’ New Market Summary Page

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Stock market analysis, technical indicators, and market trends are crucial for informed investing. StockCharts is making those things easier, and Grayson Roze is here to show you how.

In this video, Grayson provides an in-depth walk-through of the all-new Market Summary Page. This comprehensive tool offers a top-down overview of global and U.S. financial markets, featuring real-time data and professionally curated charts. Learn how to navigate the markets with ease using this centralized resource, designed to enhance your trading strategies and investment decisions. Whether you’re a seasoned trader or just starting out, understanding market dynamics is key. Grayson’s insights will help you leverage the Market Summary Page to stay ahead in the ever-evolving financial landscape.

This video originally premiered on April 11, 2024. Click on the above image to watch on our dedicated Grayson Roze page on StockCharts TV.

You can view previously recorded videos from Grayson at this link.

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Earnings From These 3 Stocks Could Be Key

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This week, we’re getting back to earnings season during the shortened four-day period.

Goldman Sachs Group, Inc. (GS) reports on the heels of JP Morgan’s solid results that saw its shares rally by 12.3% and recapture its 200-day moving average.

Watch the trading revenue numbers as added volatility should help their bottom line exceed expectations. The implied one-day move for earnings day is +/- 7.7% and, if the market is moving that morning, then expect more-than-normal movement.

FIGURE 1. DAILY CHART OF GS. If the stock rallies watch the $520 level. A break above this level could be a positive move.

Technically, shares have been put through the wringer. GS’s stock price has broken many key trendlines and support levels along the way. Maybe, just maybe, it has found a floor.

Like most stocks in this current environment, the swings have been wild. Lines in the sand have been drawn, and maybe GS can follow JPM’s lead as the charts are similar.

Things have been extremely volatile; the range between support and resistance is wide. The $440/$450 area looks to be a strong area of support for now. However, the trend has changed, and there has been much technical damage done. There are levels of resistance above, but it seems more likely that they may get tested before any retest of the lows.

On a rally, watch the $520 level, from which it broke down after breaching its 200-day moving average. If shares eclipse that, then it will likely experience a run back to its 200-day at $540. That would take the stock’s price back to its new downtrend line and should be met with much selling pressure.

Johnson & Johnson (JNJ) has experienced some of the wildest swings since making a new high in early March. The stock price has fallen over 16%. Look for it to get back to its winning ways when the company reports on Tuesday.

Year-to-date, shares are up 5% and in one of the strongest sectors for those playing defense. Like all companies reporting, the focus will be on management’s commentary on future earnings guidance and potential impacts from global economic conditions.

FIGURE 2. DAILY CHART OF JNJ. The stock price could see more downside, or it could move up to its 200-day moving average.Technically, shares are in a bit of a no-man’s land. Price action has been streaky and now they report in the middle of this recent wide range.

The bear case is that shares have yet to reach oversold levels and test major support. They came close, but didn’t get below $140. So more of a downside could be reached before jumping into the stock.

The bull case, at a minimum, is a reversion back to the 200-day moving average, just above current levels. The best case is that it has little tariff exposure, making it a safer haven in tough times and may run back towards old highs.

Overall, outside a safe 3.3% dividend, the case to jump in for a trade is tough to make given its recent price action.

Netflix (NFLX) has given back all its gains from its last earnings cycle and hopes it can regain those levels when it reports on Thursday.

Shares are seen as a safer haven in this tariff war environment, but have not been immune to the wild market swings we have been seeing. NFLX has continued to put up solid numbers and fared better than most growth stocks during this time.

FIGURE 3. DAILY CHART OF NFLX. A head and shoulders top, bullish divergence in the RSI, and bullish MACD crossover lean toward a bullish move.

Technically, there are several more positives than negatives. NFLX’s stock price has formed a head-and-shoulders top, but failed to break its neckline at the $820 level and bounced. That was one positive development, but the pattern still hangs over the stock for now.

Secondly, there’s a bullish divergence in its relative strength index (RSI) when you compare it to recent price action. As price made new lows, the RSI did not. That indicates something has changed — this recent sell-off was not as strong as its predecessor and that a reversal may be coming.

Lastly, we may be experiencing a bullish crossover in its moving average convergence/divergence (MACD). While we always want confirmation, sometimes anticipating the move may be worth the risk. When tied into the above two factors, I believe it is.

The stock has a history of gaps after earnings, so watch that gap and price action immediately afterward. If NFLX experiences a gap higher and above the 50-day moving average, you can use that as a stop to manage risk. To the downside, watch to see if the $820 level holds. If it doesn’t, there could be an accelerated move to the downside.

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Investors on the Move: A Visual Guide to the Stock Market

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Another interesting week in the stock market comes to an end.

The past few days were flooded with the twists and turns of President Trump’s reciprocal tariffs, which were later put on a 90-day pause except for China, which got hit with higher tariffs.

Then came China’s retaliation, which stirred the pot even more. Where tariffs between the two countries will end up is anyone’s guess, but all it’s doing now is adding to even more uncertainty.

The wild swings that we are seeing in the stock market’s price action make it a challenging environment for investors and traders. And with consumer confidence weakening, investors are getting nervous and confused. When the stock market environment is dominated by wild swings based on news headlines, it makes analyzing price charts more difficult. Many charts are technically broken down, and indicators tend to be more skewed due to the recent wide-ranging days.

The daily chart of the SPDR S&P 500 ETF (SPY) is a great example of how the crazy wild swings of the last six days aren’t doing much to help determine trend direction.

FIGURE 1. DAILY CHART OF SPY. The last six trading days have been erratic to say the least. It makes it impossible to determine whether the bulls or bears are in control. Chart source: StockCharts.com. For educational purposes.

The last six candlestick bars display erratic movement with wide range days. Note the 50-day simple moving average (SMA) is trending downward and getting close to the 200-day SMA. While the overall trend is pointing lower, it’s difficult to tell if SPY will move lower or reverse.

You’re better off looking at a longer-term chart, such as a weekly or monthly one, to get a sense of the overall trend direction. The weekly chart of the SPY is less erratic and restores faith in the technical analysis.

FIGURE 2. WEEKLY CHART OF SPY. This is much calmer and clearly shows the longer-term trend. Chart source: StockCharts.com. For educational purposes.

Even though it’s clear that SPY has broken below its 40-week SMA, it’s still above its 150-week, which is a ray of hope. Let’s see where it ends up next week. The more concerning point is that the range of the last two bars is the widest it has been in the last five years.

Watch Bonds

You can’t get past this week’s market action without noticing bonds. With higher tariffs, you’d expect yields to fall, but we’re not seeing that happen. On Friday, the 10-year Treasury yield hit a high of 4.59% on Friday and the 30-year went as high as 4.99%. Although yields pulled back, they are still relatively high.

Bond prices came back a bit after hitting a low that almost coincided with its January low (red dashed line). See the chart of iShares 20+ Year Treasury Bond ETF (TLT) below.

FIGURE 3. DAILY CHART OF TLT. Note the steep decline in the last six bars. Although bond prices came back on Friday, there’s no knowing what will happen next week. Watch this chart closely. Chart source: StockCharts.com. For educational purposes.The big question is if Friday’s upside move is enough to reverse the trend in bond prices. Momentum indicators are still weak and trending to the downside, and, from a technical perspective, it’ll take a lot for bond prices to trend higher.

Falling bond prices don’t bode well for investors. Typically, when equities fall, bond prices rise. Yet we’re seeing the opposite occurring. That investors are selling US bonds and looking at alternative safe-havens worries Wall Street. The rise in bond prices also makes the White House nervous, and it puts the Federal Reserve in a tight spot.

Tariffs can send inflation higher and, generally, an inflationary environment does not support interest rate cuts. But if the US finds itself in a position where inflation is rising and economic growth is slowing, the Fed may have to cut rates.

Who knows what we will hear next week? Remember, this is a headline-driven market, and any news can send values moving drastically in either direction. On Friday afternoon, stocks reversed on the heels of a news release from the White House stating that a deal with China could be in the works. You can’t rule out a weekend risk.

The Dollar Weakens

Another unusual move is the weakening of the US dollar. Increasing tariffs should strengthen the US dollar. Instead, the dollar is weakening. The daily chart of Invesco DB US Dollar Index Bullish Fund (UUP) shows the ETF is trading well below its 200-day SMA (red line).

FIGURE 4. DAILY CHART OF UUP. The ETF is trading below its 200-day SMA. Will it hit its 52-week low? Chart source: StockCharts.com. For educational purposes.

The US dollar is showing no signs of a turnaround in the US dollar. The euro, British pound, Swiss franc, and Japanese yen are strengthening against the dollar. Pull up the charts of  $EURUSD, $GDPUSD, $USDSCHF, and $USDJPY on the StockCharts platform and follow the currency markets. Or head over to the revised Market Summary page, scroll down to the Other Assets panel, and click the Currencies tab. you’ll see all the currency pairs listed.

The Bottom Line

Downtrends in equities, US bond prices, and the US dollar send a message that investors are selling US assets. Where are they parking their cash? Gold is one place. Interest in gold has gone through the roof with gold prices hitting a new all-time high on Friday. When things are as uncertain as they are now, it’s time to step back and observe the macro landscape. That means viewing long-term equity charts, bonds, and currencies. Bonds are critical in this landscape. They give a big picture of the overall strength of the US economy.

End-of-Week Wrap-Up

  • S&P 500 up 5.70% on the week, at 5363.36, Dow Jones Industrial Average up 4.95% on the week at 40,212.71; Nasdaq Composite down 7.29% on the week at 16,724.46
  • $VIX down 17.10% on the week, closing at 37.56.
  • Best performing sector for the week: Information Technology
  • Worst performing sector for the week: Real Estate
  • Top 5 Large Cap SCTR stocks: Elbit Systems, Ltd. (ESLT); Anglogold Ashanti Ltd. (AU); Palantir Technologies, Inc. (PLTR); Gold Fields Ltd. (GFI); RocketLab USA, Inc. (RKLB)

On the Radar Next Week

  • Earnings from Bank of America (BAC), United Airlines (UAL), Citigroup (C); Johnson and Johnson (JNJ), Charles Schwab (SCHW), and many more
  • March export and import prices
  • March Retail Sales
  • March Industrial Production and Manufacturing Production
  • March Housing Starts
  • Several Fed speeches

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.

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Will Rhind: Gold at All-time High, but Price Still Looks Undervalued

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Will Rhind, CEO of GraniteShares, discusses gold’s ongoing price momentum and latest all-time high, saying he sees fear as a key driver right now.

However, increasing M2 money supply is also an important underlying factor for the yellow metal.

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

This post appeared first on investingnews.com

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Trade War Redux: US and China Dig In as Tariff Tensions Spiral to New Heights

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In a rapidly escalating economic conflict that now threatens to fracture global trade, the US and China are locking horns once again in a full-blown, protracted tariff war.

On Wednesday (April 9), US President Donald Trump announced sweeping new tariffs targeting Chinese goods, raising levies to a staggering 125 percent. Hours later, Beijing responded in kind, unveiling retaliatory tariffs of 84 percent on all American imports, as well as tightening restrictions on US companies operating in China.

The Asian country doubled down on Thursday (April 10), hiking tariffs to 125 percent.

Wednesday’s action from the US came as the Trump provided a 90 day pause on reciprocal tariffs for countries that had refrained from retaliating to its targeted tariffs last week. China was excluded from the reprieve because it did retaliate.

“I did a 90-day pause for the people that didn’t retaliate, because I told them, ‘If you retaliate, we’re going to double it,’” Trump told reporters on Wednesday, asserting that China has failed to approach negotiations in good faith.

“China wants to make a deal, they just don’t know how quite to go about it. They’re proud people. President Xi (Jinping) is a proud man. I know him very well. They don’t know quite how to go about it but they’ll figure it out,” he added.

But in Beijing, the narrative is starkly different. Chinese leader Xi has refused to yield to what the Chinese government calls America’s “unilateral bullying,” instead rallying domestic support through a campaign of economic nationalism.

China’s State Council Tariff Commission has sharply rebuked the US, stating that the American escalation severely infringes upon China’s legitimate rights and interests and seriously damages the global trading system.

It has added six US firms to its ‘unreliable entity list,’ barred 12 American companies from receiving dual-use technology with military and civilian applications, and filed a formal complaint with the World Trade Organization (WTO).

“The Chinese government have been preparing for this day for six years — they knew this was a possibility,” CNN quotes Victor Shih, director of the 21st Century China Center at the University of California, San Diego, as saying.

The spiraling tariffs are already having tangible effects. Shipping and logistics costs have surged, global stock markets have dipped sharply and economists are warning of looming inflation as supply chains face disruption.

According to JPMorgan (NYSE:JPM), American consumers may face the equivalent of a US$660 billion tax burden — the highest tax hike in recent decades — before supply chains adapt.

The latest tit-for-tat measures also come at a time of economic vulnerability for both countries. China is attempting to stabilize its economy after a severe downturn in real estate and local government debt.

The US, meanwhile, is grappling with volatile debt markets and rising consumer prices. Just this week, US Treasury yields spiked to 4.5 percent, their highest level since early 2023, prompting a brief but dramatic selloff in global equities.

Markets rebounded slightly after Trump announced the tariff pause for non-retaliating countries, with the S&P 500 (INDEXSP:.INX) closing up 9.5 percent and the Dow Jones Industrial Average (INDEXDJX:.DJI) surging nearly 8 percent.

Still, uncertainty remains around the world as Trump’s 90 day reprieve begins.

Europe, which had also faced stiff levies on steel and aluminum, announced its own retaliatory measures on Wednesday.

While it was later included in Trump’s pause list due to the delay in its response, the European Commission made clear that its tariffs “can be suspended at any time, should the US agree to a fair and balanced negotiated outcome.”

How did we get here? A timeline of the trade war escalation

What began with campaign promises to revamp America’s trade relationships rapidly evolved into a tit-for-tat trade war with key US allies and competitors alike. Here’s a look at what happened.

      • February 10 to 13: The US broadens its tariff scope. Steel and aluminum duties are increased, and Trump unveils a “reciprocal tariff” policy, signaling that countries with higher import taxes on American goods will face equivalent treatment.
      • February 25 to March 1: Trump continues the escalation, ordering probes into tariffs on critical materials like copper and lumber under national security justifications.
              • April 9 to 10: Hours after the higher reciprocal tariffs are triggered, the Trump administration announces a 90 day suspension for most of them — except for China. Trump ratchets China’s tariff burden up to 125 percent (or 145 percent with fentanyl-linked levies). China retaliates with an 84 percent tariff on US goods. Canada and the EU follow suit with their own targeted tariffs, though the EU pauses immediate retaliation, signaling openness to negotiation.

              Bracing for impact

              Despite the mutual saber-rattling, both the US and China have left the door open to dialogue — albeit on vastly different terms. China’s Foreign Ministry urged the US to demonstrate “an attitude of equality, respect, and mutual benefit.” US Treasury Secretary Scott Bessent struck a defiant tone, dismissing China’s retaliatory measures as ineffective.

              “They have the most imbalanced economy in the history of the modern world,” he told Fox Business. “They’re the surplus country. Their exports to the US are five times our exports to China. So, they can raise their tariffs. But so what?”

              Yet economists and international trade experts warn the stakes are high — not just for the two economic giants, but for the world. According to WTO forecasts, the fallout could slash global trade volumes by hundreds of billions of dollars.

              “Our assessments, informed by the latest developments, highlight the substantial risks associated with further escalation,” said WTO Director-General Ngozi Okonjo-Iweala in an April 9 statement.

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

              This post appeared first on investingnews.com

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              5 Top Canadian Silver Stocks of 2025

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              Silver-mining companies and juniors have seen support from a strong silver price in 2025. Since the start of the year, the price of silver has increased by over 11 percent as of April 11, and it reached a year-to-date high of US$34.38 per ounce on March 27.

              Silver’s dual function as a monetary and industrial metal offers great upside. Demand from energy transition sectors, especially for use in the production of solar panels, has created tight supply and demand forces.

              Demand is already outpacing mine supply, making for a positive situation for silver-producing companies.

              So far, aboveground stockpiles have been keeping the price in check, but the expectation is those stocks will be depleted in 2025 or 2026, further restricting the supply side of the market.

              How has silver’s price movement benefited Canadian silver stocks on the TSX, TSXV and CSE? The five companies listed below have seen the best performances since the start of the year. Data was gathered using TradingView’s stock screener on February 12, 2025, and all companies listed had market caps over C$10 million at that time.

              1. Discovery Silver (TSX:DSV)

              Year-to-date gain: 185.92 percent
              Market cap: C$848.98 million
              Share price: C$2.03

              Discovery Silver is a precious metals development company focused on advancing its Cordero silver project in Mexico. Additionally, it is looking to become a gold producer with its recently announced acquisition of the producing Porcupine Complex in Ontario, Canada.

              Cordero is located in Mexico’s Chihuahua State and is composed of 26 titled mining concessions covering approximately 35,000 hectares in a prolific silver and gold mining district.

              A 2024 feasibility study for the project outlined proven and probable reserves of 327 million metric tons of ore containing 302 million ounces of silver at an average grade of 29 grams per metric ton (g/t) silver, and 840,000 ounces of gold at an average grade of 0.08 g/t gold. The site also hosts significant zinc and lead reserves.

              The report also indicated favorable economics for development. At a base case scenario of US$22 per ounce of silver and US$1,600 per ounce of gold, the project has an after-tax net present value of US$1.18 billion, an internal rate of return of 22 percent and a payback period of 5.2 years.

              Discovery’s shares gained significantly on January 27, after the company announced it had entered into a deal to acquire the Porcupine Complex in Canada from Newmont (TSX:NGT,NYSE:NEM).

              The Porcupine Complex is made up of four mines including two that are already in production: Hoyle Pond and Borden. Additionally, a significant portion of the complex is located in the Timmins Gold Camp, a region known for historic gold production.

              Discovery anticipates production of 285,000 ounces of gold annually over the next 10 years and has a mine life of 22 years. Inferred resources at the site point to significant expansion, with 12.49 million ounces of gold, from 254.5 million metric tons of ore with an average grade of 1.53 g/t.

              Upon the closing of the transaction, Discovery will pay Newmont US$200 million in cash and US$75 million in common shares, and US$150 million of deferred consideration will be paid in four payments beginning on December 31, 2027.

              According to Discovery in its full year 2024 financial results, the Porcupine acquisition will help support the financing, development and operation of Cordero. Discovery’s share price reached a year-to-date high of C$2.12 on March 31.

              2. Almaden Minerals (TSX:AMM)

              Year-to-date gain: 136.36 percent
              Market cap: C$16.47 million
              Share price: C$0.13

              Almaden Minerals is a precious metals exploration company working to advance the Ixtaca gold and silver deposit in Puebla, Mexico. According to the company website, the deposit was discovered by Almaden’s team in 2010 and has seen more than 200,000 meters of drilling across 500 holes.

              A July 2018 mineral resource estimate shows measured resources of 862,000 ounces of gold and 50.59 million ounces of silver from 43.38 million metric tons of ore, and indicated resources of 1.15 million ounces of gold and 58.87 million ounces of silver from 80.76 million metric tons of ore with a 0.3 g/t cutoff.

              In April 2022, Mexico’s Supreme Court of Justice (SCJN) ruled that the initial licenses issued in 2002 and 2003 would be reverted back to application status after the court found there had been insufficient consultation when the licenses were originally assigned.

              Ultimately, the applications were denied in February 2023, effectively halting progress on the Ixtaca project. While subsequent court cases have preserved Almaden’s mineral rights, it has yet to restore the licenses to continue work on the project.

              In June 2024, Almaden announced it had confirmed up to US$9.5 million in litigation financing that will be used to fund international arbitrations proceedings against Mexico under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.

              In a December update, the company announced that several milestones had been achieved, including the first session with the tribunal, at which the company was asked to submit memorial documents outlining its legal arguments by March 20, 2025. At that time, the company stated it would vigorously pursue the claim but preferred a constructive resolution with Mexico.

              In its most recent update on March 21, the company indicated that it had submitted the requested documents, claiming US$1.06 billion in damages. The memorial document outlines how Mexico breached its obligations and unlawfully expropriated Almaden’s investments without compensation.

              Shares in Almaden reached a year-to-date high of C$0.135 on February 24.

              3. Avino Silver & Gold Mines (TSX:ASM)

              Year-to-date gain: 98.43 percent
              Market cap: C$373.48 million
              Share price: C$2.52

              Avino Silver and Gold Mines is a precious metals miner with two primary silver assets: the producing Avino silver mine and the neighboring La Preciosa project in Durango, Mexico.

              The Avino mine is capable of processing 2,500 metric tons of ore per day ore, and according to its FY24 report released on January 21 the mine produced 1.1 million ounces of silver, 7,477 ounces of gold and 6.2 million pounds of copper last year. Overall, the company saw broad production increases with silver rising 19 percent, gold rising 2 percent and copper increasing 17 percent year over year.

              In addition to its Avino mining operation, Avino is working to advance its La Preciosa project toward the production stage. The site covers 1,134 hectares, and according to a February 2023 resource estimate, hosts a measured and indicated resource of 98.59 million ounces of silver and 189,190 ounces of gold.

              In a January 15 update, Avino announced it had received all necessary permits for mining at La Preciosa and begun underground development at La Preciosa. It is now developing a 350-meter mine access and haulage decline. The company said the first phase at the site is expected to be under C$5 million and will be funded from cash reserves.

              The latest update from Avino occurred on March 11, when it announced its 2024 financial results. The company reported record revenue of $24.4 million, up 95 percent compared to 2023. Avino also reduced its costs per silver ounce sold.

              Additionally, Avino reported a 19 percent increase in production in 2024, producing 1.11 million ounces of silver compared to 928,643 ounces in 2023. The company’s sales also increased, up by 23 percent to 2.56 million ounces of silver compared to 2.09 million ounces the previous year.

              Avino’s share price marked a year-to-date high of C$2.80 on March 27.

              4. Highlander Silver (CSE:HSLV)

              Year-to-date gain: 90 percent
              Market cap: C$160.17 million
              Share price: C$1.90

              Highlander Silver is an exploration and development company advancing projects in South America.

              Its primary focus has been the San Luis silver-gold project, which it acquired in a May 2024 deal from SSR Mining (TSX:SSRM,NASDAQ:SSRM) for US$5 million in upfront cash consideration and up to an additional US$37.5 million if Highlander meets certain production milestones.

              The 23,098 hectare property, located in the Ancash department of Peru, hosts a historic measured and indicated mineral resource of 9 million ounces of silver, with an average grade of 578.1 g/t, and 348,000 ounces of gold at an average grade of 22.4 g/t from 484,000 metric tons of ore.

              In July 2024, the company announced it was commencing field activities at the project but has not provided results from the program.

              In its December 2024 management discussion and analysis, the company stated it was undertaking a review of prior exploration plans and targets, adding that it believes there is exceptional growth potential.

              Highlander’s most recent news came on March 11, when it announced it had closed an upsized bought deal private placement for gross proceeds of C$32 million. The company said it will use the funding to further exploration activities at San Luis and for general working capital.

              Shares in Highlander reached a year-to-date high of C$1.96 on March 31.

              5. Santacruz Silver Mining (TSXV:SCZ)

              Year-to-date gain: 85.45 percent
              Market cap: C$192.16 million
              Share price: C$0.51

              Santacruz Silver is an Americas-focused silver producer with operations in Bolivia and Mexico.

              Its producing assets include the Bolivar, Porco and Caballo Blanco Group mines in Bolivia, along with the Zimapan mine in Mexico.

              In a production report released on January 30, the company disclosed consolidated silver production of 6.72 million ounces, marking a 4 percent decrease from the 7 million ounces produced in 2023. This decline was primarily attributed to a reduction in average grades across all its mining properties.

              In addition to its producing assets, Santacruz also owns the greenfield Soracaya project. This 8,325-hectare land package is located in Potosi, Bolivia. According to an August 2024 technical report, the site hosts an inferred resource of 34.5 million ounces of silver derived from 4.14 million metric tons of ore with an average grade of 260 g/t.

              Shares in Santacruz reached a year-to-date high of C$0.59 on March 18.

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

              This post appeared first on investingnews.com

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              Crypto Market Recap: Trump Signs First Crypto Bill, SEC Issues Crypto Guidance

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              Here’s a quick recap of the crypto landscape for Friday (April 11) as of 9:00 p.m. UTC.

              Bitcoin and Ethereum price update

              At the time of this writing, Bitcoin (BTC) was priced at US$83,823.99 and up 5.2 percent in 24 hours. The day’s range has seen a low of US$81,675.28 and a high of U$83,968.58.

              Bitcoin performance, April 11, 2025.

              Chart via TradingView.

              Markets recovered on Friday afternoon after a week of unprecedented volatility triggered by an ongoing trade war between the US and China. Stronger-than-expected producer price index data out of the US suggests inflation could be easing, igniting a recovery for the crypto and stock markets.

              Ethereum (ETH) is priced at US$1,565, a 3 percent increase over the past 24 hours. The cryptocurrency reached an intraday low of US$1,549.00 and a high of US$1,582.64.

              Altcoin price update

              • Solana (SOL) is currently valued at US$120.57, up 8.4 percent over the past 24 hours. SOL experienced a low of US$118.23 and a high of US$121.52 on Friday.
              • XRP is trading at US$2.05, reflecting a 4.2 percent increase over the past 24 hours. The cryptocurrency recorded an intraday low of US$1.99 and a high of US$2.06.
              • Sui (SUI) is priced at US$2.22, showing an increaseof 6.5 percent over the past 24 hours. It achieved a daily low of US$2.17 and a high of US$2.24.
              • Cardano (ADA) is trading at US$0.6279, reflecting a 4.9 percent increase over the past 24 hours. Its lowest price on Friday was US$0.6175, with a high of US$0.6313.

              Crypto news to know

              Trump overturns IRS DeFi rule

              US President Donald Trump has signed into law a bill nullifying an Internal Revenue Service (IRS) rule that controversially expanded the definition of “broker” to include decentralized finance (DeFi) platforms.

              The regulation, finalized in the waning days of the Biden administration, would have required DeFi protocols — which operate without intermediaries — to report detailed user transaction data to the IRS, something crypto developers argued was both technically unfeasible and legally dubious.

              With bipartisan support, both chambers of Congress passed the reversal using the Congressional Review Act. The decision is part of Trump’s broader pledge to position the US as a global crypto leader.

              In his first week back in office, he created a federal working group on cryptocurrency regulation and signed an executive order to build a national Bitcoin reserve. The Trump administration has also repeatedly criticized the Biden-era IRS framework as stifling innovation and creating legal liabilities for developers.

              SEC issues guidance on crypto securities disclosures

              Intending to build on the US Securities and Exchange Commission’s (SEC) Crypto Task Force, the commission’s Division of Corporation Finance issued guidance on how federal securities laws should apply to crypto.

              The commission said companies issuing or dealing with tokens that could be securities should give better details about their business. However, the statement didn’t provide clarity on what digital assets could be securities.

              Crypto companies typically provide details about their operations, the function of their tokens, and their plans for generating revenue. They also address their future involvement with any launched crypto networks or apps, specifying who will take responsibility for them if the company itself does not.

              The SEC has requested that cryptocurrency companies provide additional details about their technology. This includes specifying whether their product uses a proof-of-work or proof-of-stake blockchain, as well as information about its block size, transaction speed, reward mechanisms and the measures taken to ensure network security.

              The SEC also asked whether the protocol is open-source or not.

              It added that a company should share if a protocol’s code can be modified, and if so, who can make such changes and whether the smart contracts involved have been subjected to a third-party security audit.

              Other disclosures the statement mentioned are whether the token’s supply is fixed and how it was or will be issued, along with identifying executives and “significant employees.”

              New York moves to let state agencies accept crypto payments

              New York could soon become one of the first US states to formally integrate cryptocurrency into government operations.

              A newly filed bill, Assembly Bill A7788, introduced by Assemblymember Clyde Vanel, proposes to allow state agencies to accept crypto — including Bitcoin, Ethereum, Litecoin, and Bitcoin Cash — for a wide range of payments such as taxes, fees, rent, and fines.

              The proposed legislation would authorize agencies to enter agreements with crypto payment providers, ensuring that final settlements are made in fiat currency to shield state budgets from crypto market volatility.

              More importantly, the bill stipulates that debts would not be considered legally settled until the state receives full fiat payment, preserving the integrity of public finance processes.

              Agencies may also charge service fees to offset transaction costs and volatility hedging. While this is not the first time such a proposal has emerged — similar bills were introduced in previous legislative sessions but failed to advance — the current climate of growing mainstream adoption and Trump-era pro-crypto sentiment may improve its chances.

              SEC and Ripple seek abeyance in legal proceedings

              The SEC and Ripple have filed a joint motion to put their appeals in abeyance, pausing proceedings in a sign that both entities anticipate a settlement will be reached when newly appointed SEC Chairman Paul Atkins takes over.

              The Senate confirmed Atkins on April 9; however, no date has been set for his swearing-in.

              “An abeyance would conserve judicial and party resources while the parties continue to pursue a negotiated resolution of this matter,” the parties jointly stated in an April 10 court filing. Ripple’s defense attorney, James Filan, said the new filing supersedes the April 16 deadline for Ripple to respond to the SEC’s brief filed in January.

              In other developments, the SEC dismissed its lawsuit against Helium developer Nova Labs for allegedly issuing unregistered securities.

              BlackRock reports digital asset inflows

              BlackRock (NASDAQ:BLK) released its Q1 earnings report on Friday, reporting US$84 billion in total net inflows in the first quarter of 2025, marking a 3 percent annualized growth in assets under management (AUM).

              Its performance was led in part by US$107 billion in net inflows to its iShares ETFs, roughly US$3 billion, or 2.8 percent, directed to digital asset products. Digital AUM amounted to US$50.3 billion at the end of Q1, roughly 0.5 percent of the firm’s US$11.6 trillion total AUM.

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

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

              This post appeared first on investingnews.com

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              Tech 5: Tech Stocks React to Tariffs in Bumpy Trading Week

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              Global markets took a beating this week as investors and world leaders reacted to sweeping tariffs announced by the Trump administration on April 2, with tensions between the US and China escalating.

              After last week’s losses, this week started with a brief but sizable 8.5 percent surge on Monday (April 7), followed by a sharp decline that extended into Tuesday’s (April 8) trading day.

              The move came after news outlets reported a potential 90 day pause on US President Donald Trump’s widespread tariffs. While the White House was quick to deny the rumour, Trump ultimately did opt to pause reciprocal tariffs for most nations amid a falling bond market and public opposition from within the Republican Party.

              The pause brought a substantial 9.5 percent gain by the closing bell, but Thursday (April 10) saw another 6.3 percent fall as uncertainty continued to plague the market.

              The president has now narrowed his focus to China, increasing the country’s tariff rate from 104 percent to 125 percent on Wednesday (April 9). On Thursday, the Trump administration confirmed that those levies would be added to the previous 20 percent tariff, bringing the total to 145 percent. China has responded in kind, levying 125 percent tariffs against all products coming from the US, up from its previous retaliatory figure of 84 percent.

              All Magnificent 7 stocks, which were already down for the year, have fallen considerably since April 2; however, the Information’s Martin Peers notes that Apple (NASDAQ:APPL), a product maker with manufacturing ties and a large customer base in China, has experienced steeper declines than chip makers and software providers Google (NASDAQ:GOOGL), Broadcom (NASDAQ:AVGO), Meta Platforms (NASDAQ:META) and Amazon (NASDAQ:AMZN).

              Peers also points out that Microsoft’s (NASDAQ:MSFT) diversified business model and less dramatic recent growth make it well positioned to handle market volatility.

              While the current tariff regime has exemptions for semiconductors, other data center materials are exposed, as highlighted by Gil Luria, managing director and head of technology research at DA Davidson.

              Luria told Fortune that at least one-quarter to one-third of data center costs are non-semiconductor components, casting a shadow of uncertainty over the trillion-dollar data centers planned over the next few years.

              Adding to the volatility, an article published last week by global market intelligence company IDC suggests tariffs could lead to a notable slowdown in global IT spending in 2025.

              With that, let’s dive into this week’s top stories.

              1. NVIDIA CEO meets with Trump

              The White House will reverse plans to put additional export restrictions on NVIDIA’s (NASDAQ:NVDA) cutting-edge H20 chips, according to NPR. Anonymous sources say CEO Jensen Huang spoke to the president at a dinner in Mar-a-Lago last week, committing to increase its investment in the US artificial intelligence (AI) data center buildout.

              After the dinner, the administration opted to pause a months-long plan to place additional export restrictions on NVIDIA’s H20 chips, the most advanced chips US-based enterprises can sell to China under the current laws.

              The plan had been in the works since lawmakers began lobbying the administration to limit China’s access to cutting-edge technology following the release of DeepSeek’s AI chatbot, R1.

              “If NPR’s reporting is accurate, this news is a significant positive for NVIDIA, as well as a more modest tailwind for other portions of the server supply chain,” Wedbush Securities analyst Matt Bryson said in a client note on Thursday.

              After the Trump administration’s tariff announcement last week, Reuters reported that Chinese companies, including Alibaba Group Holding (NYSE:BABA), ByteDance and Tencent Holdings (OTC Pink:TCE:HY,HKEX:0770), had placed roughly US$16 billion in orders for NVIDIA’s H20 chips.

              2. Apple customers fear price increases

              Customers filed into Apple stores across the US over the weekend, fretting that the iPhone maker may be forced to raise prices on its products in the face of rising manufacturing costs stemming from the ongoing US-China trade war.

              The tech giant is heavily reliant on Asian assembly lines, and experts widely agree that a return of tech manufacturing to the US is a complex and time-consuming process, making it an unlikely immediate solution for a company whose products are high in demand and require rapid production and distribution. The company is planning a series of new product releases for 2025, with the release of the iPhone 17 slated for September.

              In the short term, Apple appears to be turning to India as an alternative to mitigate the impact of the tariffs. The company reportedly loaded flights from India with iPhones before the tariffs went into effect, allegedly lobbying Chennai International Airport authorities to cut down customs from 30 hours to six hours to speed up the airlift.

              So far, Apple hasn’t made any official announcements on potential price adjustments.

              The company managed to secure an exemption when Trump imposed tariffs in his first presidential term, but it’s unclear if the president will be swayed to grant a waiver again.

              3. Pichai reaffirms Google’s AI strategy

              Amid stock market turbulence and a downturn in the tech sector, Google CEO Sundar Pichai reiterated the company’s commitment to substantial investment in developing its AI infrastructure and product line, reaffirming its plans to allocate a significant budget of US$75 billion towards capital expenditures.

              The update came as the company convened at its Cloud Next conference, held this week in Las Vegas, Nevada. During the event, Google unveiled a suite of new AI services.

              Among the many developments shared with attendees, Google Cloud and Samsung (KRX:005935) announced a strengthened partnership aimed at integrating Google Cloud’s advanced generative AI technology into Samsung’s Ballie, an innovative home AI companion robot slated to hit US and South Korean markets this summer.

              This collaboration signifies the growing convergence of AI capabilities and home robotics, paving the way for a new era of intelligent and interactive home companions.

              Samsung hasn’t announced pricing for Ballie, but tariffs could inflate costs. The 90 day pause and productive trade talks with South Korea, where Samsung has manufacturing locations, offer a glimmer of hope for consumers.

              4. New autonomous driving and EV entrants

              The landscape of electric vehicles (EVs) continues to evolve despite a shifting political backdrop.

              This week saw reports that Zoox, Amazon’s robotaxi subsidiary, has begun testing its autonomous taxi services in Los Angeles, signaling the company’s confidence in its self-driving technology.

              Meanwhile, TechCrunch reported that Slate Auto, a Michigan-based EV start-up with ties to Amazon, is going ahead with plans to begin production of an entry-level US$25,000 electric pickup truck as soon as next year.

              The company has reportedly raised at least US$111 million and hired hundreds of employees from Ford (NASDAQ:FORD), General Motors (NYSE:GM), Stellantis (NYSE:STLA) and Harley-Davidson (NYSE:HOG).

              According to the report, the company plans to supplement the truck’s small margins by selling aftermarket vehicle accessories and apparel. Slate hopes to begin production in Indiana by late 2026.

              Adding to an influx of new EV players, Taiwanese manufacturing company Foxconn Technology (TPE:2354) announced its intention to bring two new battery EVs to the US market, with one slated to hit the markets in late 2025.

              In the realm of driverless technology, Nissan Motor (TSE:7201) said Thursday that it will integrate self-driving technology developed by the UK’s Wayve in its ProPilot assisted driving feature starting next year.

              These developments follow a Washington Post report earlier this week that found Americans’ interest in EVs is waning in the face of the Trump administration’s effort to pull back spending on EV infrastructure, including canceling a Biden-era initiative to build EV charging stations across the country and potentially repealing EV tax credits.

              5. OpenAI considers hardware acquisition, counter-sues Musk

              A Monday report from the Information suggests that OpenAI is in talks to acquire io Products, a hardware startup co-founded by the company’s CEO, Sam Altman, and former Apple design chief, Jony Ive.

              According to the report, the startup has been collaborating with Ive’s design studio, LoveFrom, on the development of a new hardware device that would act as an interface between users and voice-enabled AI assistants.

              While the two companies are reportedly exploring partnerships that don’t involve an acquisition, the potential deal could value io Products at up to US$500 million, according to the report.

              In other developments, OpenAI countersued Tesla (NASDAQ:TSLA) CEO Elon Musk on Wednesday, citing ongoing harassment since the startup began transitioning toward a for-profit structure in 2023.

              “Through press attacks, malicious campaigns broadcast to Musk’s more than 200 million followers on the social media platform he controls, a pretextual demand for corporate records, harassing legal claims, and a sham bid for OpenAI’s assets, Musk has tried every tool available to harm OpenAI,” the company wrote in a court filing.

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

              This post appeared first on investingnews.com

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