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Advanced Micro Devices (NASDAQ: AMD) is still racing higher.
Up another $2.50 to $252.30, AMD is still gaining momentum on news that it just appointed former Accenture CFO KC McClure to the company’s board, a move seen as strengthening financial oversight and strategic direction. In addition, analysts at KeyBanc just reiterated an overweight rating on the stock with a $270 price target.
From its current price of $252.30, we’d like to see AMD closer to $300 this year.
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Lithium stocks, such as Albemarle (ALB), are still surging higher.
For one, lithium remains one of the most strategically important commodities for the global shift to electrification, clean energy, and energy storage. Additionally, demand for lithium is only rising, as supply continues to dwindle due to lower mine activity.
In fact, lithium is shifting from oversupply to a tight deficit again.
As noted by Seeking Alpha, “Industry forecasts continue to point to lithium demand more than doubling by the end of the decade, with 2026 shaping up as a key inflection year where demand growth clearly outpaces new supply.”
“Several higher-cost producers have slowed production or paused expansions, while permitting timelines and capital discipline are keeping new mines from coming online as quickly as once expected. As a result, analysts increasingly expect the lithium market to move from surplus toward deficit starting in 2026,” they added.
With President Trump calling off Greenland-related tariffs and any military action, markets are exploding to higher highs.
The S&P 500 is up 50 points, or by 0.74%. The SPDR S&P 500 ETF (SPY) is up 0.67%. The Dow is up 406 points, or by 0.96%. The Nasdaq is up 218 points, or by 0.94%.
Again, that’s thanks to cooling tensions over Greenland.
In fact, according to President Trump, he and NATO Secretary General Mark Rutte have formed the framework of a future deal with respect to Greenland. Stocks are also rebounding on news that the U.S. will not acquire Greenland by force.
“The Greenland crisis appears to be defusing and reversing the recent sell-off, although details are still forthcoming around the ‘framework,’” said Eric Teal, chief investment officer for Comerica Wealth Management, as quoted by CNBC.
Gold Quickly Nearing $5,000
Gold last traded at $4,825 and could easily test $5,000.
While a substantial number of analysts have been calling for $5,000 gold for some time, we’re now seeing calls for $7,000 gold. According to SAMCO Securities, gold could test $7,000, driven by further geopolitical uncertainties, sky-high deficits, central bank demand, and the real interest rate environment, as noted by Business Standard. In addition, analysts at Jefferies expect gold prices to test $6,600 over the next few months.
Uranium Stocks up on Trump’s Davos Speech
President Trump just praised nuclear power during his speech at Davos.
He said, “I’ve signed an order directing and approval of many new nuclear reactors. We’re going heavy into nuclear. I was not a big fan, because I didn’t like the risk, the danger, but they have … what the progress they’ve made with nuclear is unbelievable, and the safety progress they’ve made is incredible. We’re very much into the world of nuclear energy, and we can have it now at good prices and very, very safe,” as quoted by the World Economic Forum.
In addition, as the demand for artificial intelligence grows, tech giants are turning to nuclear power to fuel their energy-intensive data centers. Meta Platforms, for example, just said it will use nuclear power to run its AI data centers. In fact, it will work with Vistra, TerraPower, and Oklo, which are expected to help add 6.6 gigawatts of power by 2035. Meta also announced a 20-year agreement with Constellation Energy last year to buy nuclear power.