Top 10 News Items 12/27-12/31: Rare Earth Stocks All The Rage, Jobless Claims Fall Below 400K Mark, Chicago PMI Rises to 20-Year High
31. 12. 2010 21:50 - Streetinsider.com
Here is a recap of the top news items from this week:
1. Rare element stocks were extremely momentous this week following news that China reduced its rare earth export quota for next year by more than 10%. China currently produces 97 percent of the world's rare earths. Shares of Rare Element Resources (AMEX: REE) jumped more than 50% and Molycorp (NYSE: MCP), the only US-based rare element producer, rose more than 10%. The frenzy created insane volatile in many other US-listed Chinese stocks.
2. Jobless claims for last week fell below the 400,000 mark for the first time in quite a
