"The Vanguard S&P 500 ETF ( NYSEMKT: VOO) started the week with a loss of 0.35% yesterday, and is down again premarket Tuesday, albeit less than 0.1%. Popular AI plays such as Nvidia ( Nasdaq: NVDA) and Palantir ( Nasdaq: PLTR) both lost investors money yesterday. But the bigger news is in commodities. Commodities report Gold and silver prices both slumped on Monday as investors cashed out big gains won earlier in the year."
"This morning, though, the bargain hunters emerged. According to CNBC data, though, silver is making good essentially all of its losses from yesterday and trading 7% higher premarket at more than $75 an ounce. Gold prices are up more than 1% at $4,395 an ounce. Newmont Corporation ( NYSE: NEM), not just a gold and silver miner but an S&P 500 component company, too, is trading 2.3% higher premarket."
"The other big commodity news today is copper. Demand for electricity to power artificial intelligence data centers (copper is a great conductor of electricity) has copper on track for about 41% better prices at year-end than at the start of 2025. The metal is trading 1.5% higher this morning at $12,405 per metric ton. Freeport-McMoRan ( NYSE: FCX), one of the world's biggest copper miners and an S&P 500 component company as well, is up nearly 2% this morning."
The Vanguard S&P 500 ETF opened the week down 0.35% and is marginally lower premarket, with notable weakness in AI-linked names such as Nvidia and Palantir. Gold and silver initially slumped as investors took profits, then attracted buyers with silver rebounding roughly 7% premarket to over $75 per ounce and gold trading above $4,395 per ounce. Newmont Corporation is trading higher alongside precious metals. Copper is rallying on elevated electricity demand for AI data centers, trading near $12,405 per metric ton and projected for about 41% stronger year-end pricing versus early 2025, boosting Freeport-McMoRan.
Read at 24/7 Wall St.
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