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August 21, 2025

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S&P 500 Breaking Out Again: What This Means for Your Portfolio

The S&P 500 ($SPX) just logged its fifth straight trading box breakout, which means that, of the five trading ranges the index has experienced since the April lows, all have been resolved to the upside.

How much longer can this last? That’s been the biggest question since the massive April 9 rally. Instead of assuming the market is due to roll over, it’s been more productive to track price action and watch for potential changes along the way. So far, drawdowns have been minimal, and breakouts keep occurring. Nothing in the price action hints at a lasting change — yet.

While some are calling this rally “historic,” we have a recent precedent. Recall that from late 2023 through early 2024, the index had a strong start and gave way to a consistent, steady trend.

From late October 2023 through March 2024, the S&P 500 logged seven consecutive trading box breakouts. That streak finally paused with a pullback from late March to early April, which, as we now know, was only a temporary hiccup. Once the bid returned, the S&P 500 went right back to carving new boxes and climbing higher.

New 52-Week Highs Finally Picking Up

If there’s been one gripe about this rally, it’s that the number of new highs within the index has lagged. As we’ve discussed before, among all the internal breadth indicators available, new highs almost always lag — that’s normal. What we really want to see is whether the number of new highs begins to exceed prior peaks as the market continues to rise, which it has, as shown by the blue line in the chart below.

As of Wednesday’s close, 100 S&P 500 stocks were either at new 52-week highs or within 3% of them. That’s a strong base. We expect this number to continue rising as the market climbs, especially if positive earnings reactions persist across sectors.

Even when we get that first day with 100+ S&P 500 stocks making new 52-week highs, though, it might not be the best time to initiate new longs.

The above chart shows that much needs to align for that many stocks to peak in unison, which has historically led to at least a short-term consolidation, if not deeper pullbacks — as highlighted in yellow. Every time is different, of course, but this is something to keep an eye on in the coming weeks.

Trend Check: GoNoGo Still “Go”

The GoNoGo Trend remains in bullish mode, with the recent countertrend signals having yet to trigger a greater pullback.

Active Bullish Patterns

We still have two live bullish upside targets of 6,555 and 6,745, which could be with us for a while going forward. For the S&P 500 to get there, it will need to form new, smaller versions of the trading boxes.

Failed Bearish Patterns

In the chart below, you can view a rising wedge pattern on the recent price action, the third since April. The prior two wedges broke down briefly and did not lead to a major downturn. The largest pullbacks in each case occurred after the S&P 500 dipped below the lower trendline of the pattern.

The deepest drawdown so far is 3.5%, which is not exactly a game-changer. Without downside follow-through, a classic bearish pattern simply can’t be formed, let alone be broken down from.

We’ll continue to monitor these formations as they develop because, at some point, that will change.

New Rare Earths Venture to Target High-grade Assets in US and Brazil

Privately owned Rare Earths Americas (REA) has formed in a bid to explore and develop high-grade rare earths assets in the US and Brazil, looking to consolidate supply chains for various domestic sectors.

The company, which raised AU$25 million in a private funding round, said it combines experienced operators and investors with “deep expertise across global mining, energy and critical materials.”

Included in the company’s portfolio is the Foothills discovery, located in Georgia, US.

The site contains grades of up to 41.3 percent total rare earth oxides, including heavy rare earths crucial for high-performance magnets. REA has highlighted its strong logistics, low-cost power and streamlined path to permitting.

In Brazil, the Alpha and Constellation projects hold more than 1 billion metric tons of high-grade ionic clay rare earths mineralization, including dysprosium and terbium, which are essential for permanent magnets.

The Homer project, also located in Brazil, targets multiple carbonatite clusters with the potential for niobium discoveries in a region known for leading niobium mines.

“The rare earths market is undergoing a generational shift as the West races to secure its rare earths future,” said CEO Donald Swartz in a Monday (August 18) press release.

REA’s timing aligns with broader US efforts to reduce reliance on China, which currently controls nearly 70 percent of global rare earths processing and accounts for most heavy rare earths production.

In April, Beijing restricted shipments of seven rare earths to the US and other countries, prompting concern among automakers and defense contractors dependent on these materials.

The US government recently proposed a pricing support mechanism for domestic rare earths ventures in order to increase production and mitigate China’s influence.

Discussions last month, led by former White House Trade Advisor Peter Navarro and National Security Council official David Copley, included rare earths producers and major tech firms reliant on these critical minerals.

China’s dominance stems from billions of dollars invested in mining and processing since 2000, often with minimal environmental or safety oversight, allowing the country to produce rare earths at lower cost than western competitors.

The US response to the Asian nation’s rare earths stranglehold has included efforts to develop domestic mine supply and build out refinement, processing and production capacity. American companies have also sought to secure alternative sources in Africa and Latin America, but investment and technology barriers remain significant.

Mountain Pass in California, the country’s only large-scale rare earths mine, produces bastnaesite carbonate, but relies heavily on foreign processing. MP Materials (NYSE:MP), the mine’s operator, posted a net loss of US$65.4 million in 2024, highlighting the challenge of competing with China’s low-cost production model.

REA’s launch positions it as a potential strategic player in this evolving landscape.

According to the company, the Foothills project offers a “streamlined permitting pathway” in the US, while the Alpha and Constellation projects in Brazil provide access to large-scale, high-grade heavy rare earths.

“With grade and strategic geography on our side, we intend to advance our rare earths projects to support the long-term supply of critical materials essential to domestic innovation,” Swartz added.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Guide to Uranium Mining in Canada

Uranium mining in Canada accounts for 13 percent of global output, making the Great White North the second largest producer of uranium in the world, behind only Kazakhstan.

Canada hosts 9 percent of the world’s uranium resources and is home to the biggest deposits of high-grade uranium. Their grades of up to 20 percent uranium are 100 times greater than the global average.

Canadian uranium deposits are found mainly in the provinces of Saskatchewan, Newfoundland and Labrador, and Québec, as well as the territory of Nunavut. Of these, Saskatchewan leads the country in both uranium exploration and production.

In this article

    Top Canadian uranium mines

    Canada is home to three producing uranium mines, Cigar Lake, McArthur River and McClean Lake, all of which are located in Saskatchewan’s Athabasca Basin.

    Saskatchewan is a premier uranium mining jurisdiction as home to the Athabasca Basin, a mining-friendly region in the north of the province that’s renowned for its high-quality uranium deposits. The area’s long uranium-mining history has made Canada an international leader in the uranium sector.

    Canada’s major uranium mining companies are Cameco (TSX:CCO,NYSE:CCJ) and Orano Canada, a subsidiary of the multinational company Orano Group. Cameco is the majority owner and operator of Cigar Lake and McArthur River. Orano holds a significant stake in both mines, and is also the majority owner and operator of the recently restarted McClean Lake operation.

    Data and information on the Canadian uranium mines and advanced projects discussed below is taken from mining database MDO. The database only includes projects that have at least partial ownership by public companies.

    1. Cigar Lake Mine

    Ownership:
    54.547% — Cameco
    40.453% — Orano Canada
    5% — TEPCO Resources
    Province: Saskatchewan
    Mine type: Underground
    Deposit type: Unconformity-related

    Cigar Lake, which entered commercial production in 2015, is one of Canada’s largest uranium mines and the world’s highest grade uranium mine. The underground mining operation involves the use of innovative mining methods such as jet boring, which was purposely designed by Cameco to tackle the unique challenges of the Cigar Lake deposit.

    For 2024, production at the Cigar Lake mine was reported at 16.9 million pounds U3O8, up 2 million pounds from the previous year. Guidance for 2025 stands at approximately 18 million pounds.

    Cigar Lake’s proven and probable reserves stand at 551,400 metric tons of ore grading 15.87 percent U3O8 for 192.9 million pounds of contained U3O8. Its mine life is expected to run until 2036.

    2. McArthur River-Key Lake Mine

    Ownership:
    McArthur River mine
    69.805% — Cameco
    30.195% — Orano Canada
    Key Lake mill
    83.3% — Cameco
    16.7% — Orano Canada
    Province: Saskatchewan
    Mine type: Underground
    Deposit type: Unconformity-related

    The McArthur River-Key Lake operation is home to the McArthur River mine and Key Lake mill, respectively the largest high-grade uranium mine and largest uranium mill in the world, according to MDO.

    McArthur River was first brought into production in 2000 using raiseboring and blast hole stoping mining methods, but was put on care and maintenance temporarily in early 2018 due to low uranium prices. Cameco brought the mine and mill back into production in late 2022, progressively ramping up output over the next few years.

    Production in 2024 came in at 20.3 million pounds U3O8, up nearly 43 percent from the previous year’s output, and production guidance for 2025 has been set at 18 million pounds.

    McArthur River’s proven and probable reserves total 2.49 million metric tons grading 6.55 percent U3O8 for 359.6 million pounds of contained metal. Its mine life extends out to 2044.

    3. McClean Lake Mine and Mill

    Ownership:
    77.5% — Orano Canada
    22.5% — Denison Mines (TSX:DML)
    Province: Saskatchewan
    Mine type: Surface mine
    Deposit type: Unconformity-related

    The McClean Lake mine re-entered production in July 2025, 17 years after it was shuttered in 2008 due to low uranium prices made the operations uneconomic.

    After studies demonstrated that the joint venture partners’ patented surface access borehole resource extraction (SABRE) mining method could bring McClean back to life economically, the decision was made in January 2024 to bring the asset back into production.

    The site hosts multiple deposits, including the now-producing McClean North deposit. It also boasts the only mill in the world designed to process high-grade uranium ore without dilution, according to MDO. The mill has the capacity to produce 24 million pounds of uranium concentrate, or yellowcake, annually. Currently, the mill is processing ore from the Cigar Lake mine under a toll mining agreement.

    Proven reserves at McClean Lake are in the form of ore stockpiles, and total 90,000 metric tons at a grade of 0.37 percent for U3O8 for 700,000 pounds of contained metal. The site also hosts significant indicated and inferred resources of 25.4 million pounds across the McLean North, Sue D and Sue F deposits.

    The partners expect to produce approximately 800,000 pounds of U3O8 from McClean North in the first year of operations. In addition, mining at the McClean North and Sue F deposits has the potential to produce about 3 million pounds from 2026 to 2030.

    Upcoming Canadian uranium mines

    There are a handful of contenders for Canada’s next uranium mine: Patterson Lake South, Rook 1 and Wheeler River. None are in the construction stage yet, but most are expecting to come online in the next few years. Learn about the advanced uranium projects below.

    1. Patterson Lake South

    Ownership: Paladin Energy (TSX:PDN,ASX:PDN)
    Province: Saskatchewan
    Mine type: Underground
    Deposit type: Basement hosted vein-type or fracture-filled

    Currently in the permitting phase, the Patterson Lake South (PLS) project hosts the large, high-grade and near-surface Triple R deposit, which has the potential to produce both uranium and gold. The project has a probable mineral reserve estimate of 93.7 million pounds of contained uranium from 3 million metric tons grading 1.41 percent U3O8.

    The 2023 feasibility study for PLS highlights average production of approximately 9 million pounds U3O8 per year over a 10 year mine life.

    Paladin added the PLS uranium project to its portfolio in December 2024 via its acquisition of Fission Uranium. The company is continuing to develop the PLS’s resource potential outside of the Triple R deposit, with a significant focus on the project’s Saloon East zone. Advancing through the environmental permitting process remains ongoing.

    2. Rook 1

    Ownership: NexGen Energy (TSX:NXE)
    Province: Saskatchewan
    Mine type: Underground
    Deposit type: Basement-hosted, vein-type

    NexGen Energy’s Rook 1 project, home to the Arrow deposit, is in the permitting stage with a feasibility study completed in February 2021. Arrow hosts probable mineral reserves of 239.6 million pounds of U3O8 from 4.57 million metric tons of ore at a grade of 2.37 percent, as well as a measured and indicated resource of 256.7 million pounds from 3.75 million metric tons at 3.1 percent.

    Over its 11.7 year mine life, Rook 1 is expected to produce an average of 19.8 million pounds of U3O8 per year, including over 25 million pounds during the first five years.

    Provincial environmental assessment approval was granted in November 2023, and the federal environmental impact statement was accepted as final in January 2025. In March 2025, the company shared that the Canadian Nuclear Safety Commission has proposed hearing dates for the Rook I project on November 19, 2025, and February 9 to 13, 2026.

    NexGen states that a full project execution team is at the ready and the site is fully prepared for construction activities to commence following final federal approval.

    3. Wheeler River

    Ownership:
    95% — Denison Mines
    5% — Uranium Energy (TSX:UEC,NYSEAMERICAN:UEC)
    Province: Saskatchewan
    Mine type:
    Phoenix — In-situ recovery

    Gryphon — Underground
    Deposit type: Unconformity-related

    The Wheeler River uranium project, billed as the largest undeveloped uranium project in the eastern region of the Athabasca Basin, is home to the high-grade Phoenix and Gryphon deposits. Each deposit is considered a standalone asset, and the Phoenix deposit is the more advanced of the two.

    A feasibility study for the Phoenix deposit as an in-situ recovery operation was completed in mid-2023. In February 2025, Denison reported that the Canadian Nuclear Safety Commission is set to conduct hearings for the project’s environmental assessment and license to prepare and construct a uranium mine and mill on October 8 and December 8 to 12, 2025. If granted approval, Denison is prepared to start construction in early 2026, followed by first production by the first half of 2028.

    As for the Gryphon deposit, an update to the pre-feasibility study for a conventional underground mining operation was completed in 2023. Denison conducted a field program in the first quarter of 2025 as part of its efforts to support a feasibility study.

    Canadian uranium exploration companies

    Canada is also home to a slew of uranium exploration and development companies focused on discovering uranium in Saskatchewan, Nunavut and Newfoundland and Labrador.

      For more insight on the uranium companies operating in the Athabasca Basin discussed in this article, check out our breakdown of the 15 uranium companies exploring the basin.

      Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.

      This post appeared first on investingnews.com

      Apple just landed a key win for the global encryption fight

      Apple clinched a major win Monday after the U.S. government announced that the U.K. had agreed to drop its demand for the company to provide a “back door” granting officials access to users’ encrypted data.

      The iPhone maker won’t be alone to rejoice in the outcome.

      The development came after extensive talks between Britain and the U.S., which had raised national security concerns over the request.

      At the root of the row was end-to-end encryption, a technology which secures communications between two devices in a way that means not even the company providing a chat service can view any messages.

      The story of Apple’s U.K. privacy battle started earlier this year, when it was reported that the British government had demanded access to the company’s encrypted cloud service via a technical “back door.”

      Such a back door has long been contested by Apple. In 2016, the Federal Bureau of Investigation tried to get Apple to create software that would enable it to unlock an iPhone it recovered from one of the shooters involved in the 2015 terror attack in San Bernardino, California.

      Other companies have also had to fend off government attempts to undermine end-to-end encryption. For example, when Meta announced plans to encrypt all messages on its Facebook Messenger app, the move drew condemnation from the U.K. Home Office. Meta had already offered encryption on WhatsApp.

      The Monday news could have broader implications for the debate around end-to-end encryption globally.

      Governments and law enforcement agencies have long pushed for methods to break such encryption systems to assist with criminal investigations into terrorism and child sexual abuse.

      However, tech companies have said that building an encryption back door would not only undermine user privacy, but also expose them to possible cyberattacks. Cybersecurity experts say that any back door built for a government would eventually be found and exploited by hackers.

      U.S. national intelligence officials were also worried by the ramifications of Apple offering such a back door.

      For Apple, the U.K.‘s concession over encryption could mean that the company can bring back its most secure service for users’ cloud data, Advanced Data Protection (ADP), which the company stopped offering to Brits in February.

      It is not yet clear if Apple will reintroduce its ADP service to the U.K. market.

      CNBC has reached out to Apple and the U.K. government for comment.

      This post appeared first on NBC NEWS