Diamonds and Dogs


Lam Research (LRCX) keeps surging. The chip equipment maker is up 3% today thanks to an upgrade at Morgan Stanley. Lam Research is up over 50% in the last year due to strong capital spending in both semiconductor and display or phone companies. The investment cycle has been particularly strong thanks to a boon in memory chips and phones switching to new OLED technology. Morgan Stanley's price target is $168 a share.

Gold (GLD) falling to an eight-week low. The decline in gold has come as the equity markets rebounded along with the US dollar. Precious metals and the US dollar are significantly inverted related since the metals are dollar-denominated assets. The bromance developing between Trump and Putin isn't helping gold either.

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