On Tuesday, Shares of Freeport-McMoRan Inc. (NYSE:FCX), lost -3.12% to $9.92, hitting its lowest level, as gold and copper prices fall following better U.S. data, which strengthened the dollar and raised possibilities for a U.S. rate hike in September.
Higher U.S. interest rates will pressure falling metal prices since they do not accrue interest.
“September, when we expect the first U.S. rate hike, is going to be crucial for the precious metal’s medium-term direction,” Georgette Boele, an ABN Amro analyst, told Reuters.
Freeport-McMoRan Inc., a natural resource company, engages in the acquisition of mineral assets, and oil and natural gas resources. It primarily explores for copper, gold, molybdenum, cobalt, silver, and other metals, in addition to oil and gas.
Shares of General Motors Company (NYSE:GM), inclined 0.32% to $31.71, during its last trading session.
General Motors Company is adding 181,000 cars in the U.S. and Canada to a 2014 recall for headlights that can stop working, and it will have to repair thousands more for a second time because the first fix could fail again, according to AP.
The expansion covers the 2005 Buick LaCrosse and the 2007 Pontiac Grand Prix in the U.S., in addition to the 2005 Buick Allure in Canada.
The recall expansion came after U.S. safety regulators sent the Detroit Company a list of consumer complaints about headlight failures in GM cars. AP Reports
General Motors Company designs, builds, and sells cars, crossovers, trucks, and automobile parts worldwide. It operates through GM North America, GM Europe, GM International Operations, GM South America, and GM Financial segments.
Finally, Yum! Brands, Inc. (NYSE:YUM), ended its last trade with -0.98% loss, and closed at $84.20.
YUM! Brands declared that long–time YUM veteran, Micky Pant, 60, has been designated Chief Executive Officer of Yum! Restaurants China, succeeding Sam Su, 63, who declared his plans to retire as Chairman and CEO of the China Division. Su will serve as an Executive Advisor through February 2016 and also remain on the Yum! Brands, Inc. Board of Directors to ensure a smooth and seamless transition. The Company also declared that Joey Wat, 44, President of KFC China, and Peter Kao, 58, Senior Vice President and Brand General Manager of Pizza Hut China, have each been promoted to the position of Chief Executive Officer of KFC and Pizza Hut, respectively, reporting to Pant.
YUM! Brands, Inc., together with its auxiliaries, operates quick service restaurants. It operates in five segments: YUM China, YUM India, the KFC Division, the Pizza Hut Division, and the Taco Bell Division. The company develops, operates, franchises, and licenses a system of restaurants, which prepare, package, and sell various food items.
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