Posts Tagged ‘Lithium Arbitration’

Week of Dec 22 2017 Weekly Recap & The Week Ahead

Monday, December 25th, 2017

“Only when the tide goes out do you discover who’s been swimming naked.” — Warren Buffett
Merry Christmas and Happy New Year — from the staffs of EGS

1. Chile’s Corfo, SQM Seek Settlement of Lithium Mining Claims — Corfo and Pampa Calichera, a Chilean development agency that controls Sociedad Quimica y Minera de Chile (NYSE:SQM) stated that it had agreed to suspend its arbitration battle with SQM for 30 days as they try to solve a dispute over lithium mining claims. Chile will be able to expand its lithium production “significantly” if the negotiations are successful.
2. China Looks to Curb Greenhouse Emissions — China is planning to start a giant market to trade credits for the right to emit greenhouse gases. The program would initially cover the nation’s state-dominated power generation sector, which produced almost half of the country’s emissions from burning fossil fuels last year.
3. AAII Weekly Sentiment Survey — the weekly sentiment survey from the American Association of Individual Investors (AAII) showed that bullish sentiment increased from 45.0 up to 50.5%. That’s the first 50%+ reading since the first week of 2015! That streak of 154 weeks without a 50%+ reading was the longest in the history of the survey!

4. The Tax Cuts and Jobs Act Passed by Congress and Signed into Law by President Donald Trump — the new tax law will be a mixed bag of give-and-take for individual taxpayers, with benefits sharply skewed to the wealthy. The main component, the top corporate tax rate will drop from 35%—one of the highest top rates levied by developed nations—to 21% in 2018. Most taxpayers will see their tax burdens decline and their after-tax income rise in 2019, after the new law is fully in effect.
5. Congress Passes Stopgap Spending Bill — Congress has passed a stopgap spending bill that keeps the government funded through mid-January, punting thorny policy debates into next year. The most contentious part of the bill is what’s called a “pay-go” waiver. The provision suspends rules that bar the government from enacting expensive new programs, like the GOP tax cuts, unless there is enough money in the current year’s budget to pay for them.
6. Wall Street Strategists’ Forecast Year-End Price Targets — according to Bloomberg, the consensus S&P 500 price target for the end of 2018 stands at 2,854. That would represent a 2018 gain of roughly 6%.
Below is a chart showing consensus year-end price targets for the S&P 500 for every year going back to 2000. For each year, we show where Wall Street strategists saw the S&P 500 trading at the end of the year, the estimated annual percentage change based on the price target, and the actual percentage change that the S&P 500 experienced that year.

The week ahead — Economic data from Econoday.com:

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