Commodities have soared on prospects for a post-coronavirus vaccine economic recovery. And copper is one of the best commodities to own in order to invest in the recovery of the global economy--and especially the growth in the Chinese economy--as the coronavirus pandemic recedes in 2021. I already own Southern Copper (SCCO) in my Dividend Portfolio and First Quantum Minerals (FQVLF) in my Volatility Portfolio. Those stocks were up 56.83% and 77.64%, respectively, in 2020. Tomorrow, January 6, I will add shares of Freeport McMoRan Copper & Gold to my Jubak Picks Portfolio.
Initial claims for unemployment dropped to 814,000 last week from 873,000 the prior week, the Labor Department reported today, Thursday, December 31.
The Standard & Poor's 500 closed up 0.64% today to a new closing high and ended the year ahead more than 16%. The Dow Jones Industrial Average also closed in record territory after a gain of 0.65% on the day. The Dow is up about 7% for 2020. The NASDAQ Composite managed a gain of 0.14% to bring its gain to 40% for 2020. Today's advance in the Santa Claus period--which historically also includes the first two trading days in January so it's not quite over yet--is a good omen for 2021.