🚀 China tightens grip on rare earth minerals

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Market Overview
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Year To Date Performances:

1. U.S. rare earth and critical minerals stocks surged Thursday after China tightened export controls, requiring foreign companies to obtain licenses for products containing more than 0.1% domestically sourced rare earths or using Chinese extraction, refining, or recycling technology. Ramaco Resources jumped 12%, Energy Fuels nearly 8%, USA Rare Earth over 7%, and MP Materials more than 6%, amid speculation that the Trump administration will accelerate domestic supply chain investments. Rare earths, vital for weapons, EVs, robotics, and electronics, have been a central trade tension point, and the White House has already taken equity stakes in MP Materials, Lithium Americas, and Trilogy Metals this year. Analysts say Beijing’s move strengthens its negotiating position ahead of a planned Xi-Trump meeting at the Asia-Pacific Economic Cooperation summit.

2. Shares of Ferrari plunged on Thursday after the luxury automaker released updated full-year and 2030 guidance that fell short of analyst expectations. Milan-listed shares tumbled as much as 16%, later recovering slightly to a 13% decline, marking the worst trading day since Ferrari’s 2016 IPO. The company now expects 2025 net revenue of at least €7.1 billion ($10.7 billion) and targets €9 billion by 2030, with EBITDA of at least €3.6 billion. Ferrari also revised its 2030 electric vehicle target down to 20% of its sports car lineup, from a prior goal of 40%, citing client preferences and market conditions. The company revealed the chassis and powertrain of its first EV, the “elettrica,” with deliveries expected in late 2026. Analysts noted the guidance is conservative but highlighted strong long-term demand and management execution as positives.

3. Delta Air Lines beat third-quarter profit expectations and projected a stronger finish to 2025, driven by higher airfares and robust demand for premium travel. Adjusted Q3 earnings came in at $1.71 per share versus the $1.53 expected, on revenue of $15.2 billion, up 4% year over year. Premium cabins outperformed, with revenue rising 9% to nearly $5.8 billion, while main cabin revenue fell 4%. CEO Ed Bastian highlighted strong corporate and luxury travel demand and noted that Delta’s domestic unit revenue rose 2% despite a 4% capacity increase. The airline forecast Q4 adjusted EPS of $1.60–$1.90 and full-year 2025 EPS of $6, signaling continued margin expansion and earnings growth into 2026. Shares jumped more than 6% in early trading on the upbeat results.

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