Market Wrap-Up for Sept.1 (BHP, FCX, COH, BKC, CLF, BEN, more)

in bhp billiton copper dividend economy freeport mcmoran Gold Gold Investment lead shares by admin — September 1, 2010 1:11 pm | no comments

It was great to hear last night that U.S. troops will soon be leaving Iraq and rejoining their families back at home. President Obama’s message is about the country fixing what is broken here (the economy) and spending more resources to do just that. Let’s hope this comes with a push for new jobs that come from the corporate world as a result of new innovations. We need new industries to bring some manufacturing back to the states, as well. Following the initial euphoria of the troops coming home comes the reality of the lack of jobs once they’re back on U.S. soil. Our soldiers will be joining millions of other Americans that are currently jobless and are scrambling to provide for themselves and their families. Let’s hope Washington has a plan, and that the decision we made in Iraq wasn’t just aimed at feeling good in front of the November elections. Looking at today’s action, the buying was definitely in the high-beta names that have been the leaders of late, i.e. the commodity space. BHP Billiton ( BHP ) , Freeport McMoran ( FCX ) , and Cliffs Natural Resources ( CLF ) all paced the gains. We also saw names like Coach ( COH ) and Franklin Resources ( BEN ) pushing higher as well. Burger King ( BKC ) was up this morning on rumors of a private equity takeover of the company.