Weekly Roundup: Newmont Rises, Nvidia Soars, JPMorgan Up
Apr 11, 2025
This week, Newmont's shares surged after a major analyst upgrade, coinciding with gold hitting a record high as a safe haven against market turmoil. Meanwhile, Nvidia's stock saw wild swings, reflecting the rollercoaster ride of the tech sector driven by AI demand. JPMorgan Chase reported an impressive revenue boost from chaotic market conditions, surpassing expectations and setting new records. The podcast blends serious market analysis with lighthearted commentary, making sense of the week’s financial drama.
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Gold's Safe Haven Status
Newmont, a gold miner, saw its best week since 1998, highlighting gold's safe-haven appeal.
UBS upgraded Newmont and raised gold's price target due to a supportive macro backdrop.
question_answer ANECDOTE
Nvidia's Rollercoaster Week
Nvidia's stock experienced extreme volatility throughout the week, reflecting overall market uncertainty.
Despite being a top weekly performer, Nvidia remains down 17% year-to-date.
insights INSIGHT
JPMorgan's Record Revenue and Dimon's Caution
JPMorgan Chase achieved record equity market revenue in Q1 due to market volatility.
CEO Jamie Dimon expressed caution about the US economy, citing potential turbulence.
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- Shares of Newmont (NEM) rose after UBS analyst Daniel Major upgraded the gold miner to "buy" from "neutral" and hiked the price target to $60 from $50 before the opening bell on Friday. The comes as gold rose to a record above $3,200 an ounce, as concerns about the impact of tariffs on the global economy boosted bullion’s appeal as a haven for investors. Prices gained as much as 1.9% to $3,237.89 on Friday, eclipsing the previous all-time high posted Thursday. Prices headed for a weekly increase of about 6%. Gold’s haven status has been underlined this week, with President Donald Trump’s flip-flopping on tariffs sparking frantic selloffs for US stocks, bonds and the dollar, as fears of a worldwide recession engulfed Wall Street.
- Wall Street’s gyrations shook markets anew, with stocks wiping out losses to extend their best weekly gain since 2023. Shares in chip giant Nvidia (NVDA) saw wild swings, rising as high as 18% on Wednesday before closing up about 3% in Friday trading.
- JPMorgan Chase's (JPM) stock traders took in a record haul in the first quarter, boosted by chaotic market moves set off by President Donald Trump’s policy announcements after he took office in January. The biggest US bank boosted equities markets revenue 48% to $3.81 billion, trouncing analysts’ expectations as well as the firm’s previous stock-trading record set four years ago. Still, Chief Executive Officer Jamie Dimon struck a cautious tone about prospects for the US economy in a statement Friday accompanying the results. “The economy is facing considerable turbulence (including geopolitics), with the potential positives of tax reform and deregulation and the potential negatives of tariffs and ‘trade wars,’ ongoing sticky inflation, high fiscal deficits and still rather high asset prices and volatility,” Dimon said in the statement.
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