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Early adopters will be able to tell Microsoft’s Copilot assistant to take action on files stored on their Windows 11 PCs.

The Euro (EUR) strengthens against the Swiss Franc (CHF) on Thursday, with EUR/CHF snapping a four-day losing streak after briefly dipping to its lowest level since April 17 earlier in the day.

USTR Greer said that China is taking actions as if it wants to decouple, noting that the U.S. will do more to strengthen its position in rare earths. He added that additional U.S. stakes in rare earth companies are possible, as Washington and its allies focus on reshoring critical supply chains. Greer’s remarks come amid a period of heightened U.S.-China trade tension, though both sides have so far refrained from further escalation. Markets continue to expect a gradual de-escalation over the coming days and weeks.

Two days ago, Greer was more positive about finding a solution with China.

So what companies have US support?

• MP Materials (NYSE: MP) -Trading at $92.88 premarket

  • The U.S. Department of Defense (DOD) is investing $400 million in preferred stock (making it the company’s largest shareholder).

  • Back in 2022, MP has been awarded $35 million (and multiple contracts) by DoD to build heavy rare earth (HREE) processing capabilities at its Mountain Pass site.

  • It has apublic-private partnershipwith DoD to build out a U.S. “mine-to-magnet” supply chain, including a second magnet manufacturing facility (the “10X Facility”).

  • It has also received $58.5 million in U.S. government support to advance its magnet-making facility in Texas.

  • The DoD has guaranteed aprice floor(for key elements like NdPr) under a long-term agreement.

• Ucore Rare Metals (TSXV: UCU / OTCQX: UURAF) – Trading at $7.49

  • Ucore has secured a US$18.4 million funding agreementwith the DoD to build its RapidSX™ commercial-scale rare earth separation facility in Louisiana.

  • That award is an expansion of an existing government-backed demonstration project (with earlier $4 million funding).

  • Ucore’s project has been designated under DPAS (Defense Priorities & Allocation System), which gives it priority status for defense contracts.

• Critical Metals (CRML) – trading at $26.04 pre-market

  • While not directly a recipient of large government equity funding as of latest, Critical Metals signed a 10-year supply agreement to deliver heavy rare earth concentrate to U.S. government-funded processing plants (like Ucore’s facility).

  • This places it in the U.S. strategic supply chain network, though its government support is more via offtake / supply contracts than large equity or capital infusions.

The problem for investors is the companies have already run higher.

• MP is up 475% in 2025
• UURAF is up 1300%
• CRML is up 234%

The cost of extracting rare earths is also high and earnings? What earnings?

MP EPS in August came in at -$0.18% on revenues of $57.39M with market capitalization at $15.91B

UURAF last EPS was -$0.03 with a market capitalization of $725.69M

CRML last EPS released on Oct 6 came in at -$0.16 vs -$0.03. It has no revenues.

Some other names in the space:

• Lynas Rare Earths (ASX / OTC: LYC) – Trading at $20.40
  One of the few large non-Chinese players with real scale. It mines in Australia and has been developing separation capacity (including a U.S. facility) to reduce reliance on China’s processing.

• Energy Fuels (NYSEAMERICAN: UUUU / TSX: EFR) – Trades at CAD$35.05 on the Toronto Exchange
  Not solely a rare earth play (also works in uranium), but is pushing into rare earth separation at its White Mesa mill. It’s part of the nascent rare earth push in North America.

• USA Rare Earth (USAR) – Trades at $34.10 pre-market
  A more speculative name. It aims for mine-to-magnet integration, building domestic supply chains and magnet capacity in the U.S.
  But it has yet to generate revenue profitably and remains a higher-risk, high-potential bet.

All are very risky but rare earths is becoming the buzz word as concerns about disengagement puts the US at risk. We know that the Trump administration is ok with making deals with companies under the “National Security” concerns, and rare earths falls under that category.

This article was written by Greg Michalowski at investinglive.com.

That pretty much seals it, but it was fully priced in anyway.

This article was written by Adam Button at investinglive.com.

That pretty much seals it, but it was fully priced in anyway.

This article was written by Adam Button at investinglive.com.

Russia Central Bank Reserves $: $729.5B vs $722.5B

Taiwan Semiconductor Manufacturing Company reported a 39.1% increase in third-quarter profit, hitting a fresh record despite missing estimates.

TSMC reported a strong quarter, and Salesforce delivered rosy long-term guidance.

Crazy amounts of money are being thrown at AI right now, particularly on chips and power.

Analysts at Goldman Sachs have a funny way of saying it’s sustainable. They dismiss concerns, arguing investment levels are sustainable. Why? Because AI deployments are boosting productivity.

That’s a funny way of justifying it a day after Sam Altman announced that OpenAI will allow adult erotica on ChatGPT.

In any case, Goldman argues that AI capex is at roughly 1% of GDP in 2025 and will rise to 2-2.5% in 2027 and 2028. They estimate that generative AI could lift labor productivity by 1.5 percentage points annually as adoption spreads.

I think that’s all a bit fanciful as it’s entirely unclear that the people making the investments are the ones who will capture the ROI from the productivity boosts. Chips also have a very short life, so there could easily be a cash-incinerating time mismatch.

This article was written by Adam Button at investinglive.com.

Fed Governor Christopher Waller told Bloomberg that even without the official employment data, the available evidence points to a clear slowdown in hiring across the U.S. economy. He noted that private and survey-based indicators have been consistent in signaling weaker labor demand, reinforcing the view that the job market is losing momentum. Waller argued that […]

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