Markets Today: Coal Deal Delayed, Nvidia Rallies, Gold Soars

Peabody’s coal deal stalls after mine fire, Nvidia stock jumps as chip restrictions ease, gold hits record, and Citibank Canada names a new CEO.

Did you catch the news? Recently, Trump’s Treasury Secretary let slip: “We’re going to monetize the most valuable asset of the United States.”
What did he mean, exactly? As you’ll see, Trump could soon unleash a massive new boom in America. One that could dwarf the rise of crypto and NVIDIA, combined.
Former Presidential Advisor, Jim Rickards says: “We’re talking about a state asset that’s so large – if you divide the figure by the number of households in America, it’d be enough to make every family millionaires.”

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Market-Moving News

Energy

Peabody Reconsiders Anglo American Coal Asset Deal After Mine Fire

PeabodyEnergy is hitting pause on its blockbuster 3.78 billion bid for Anglo American’s Australian coal mines after a fire ripped through the Moranbah North operation—a crown jewel in the deal. The blaze, which shut down production, has forced the U.S. coal giant to renegotiate terms with Anglo American. While both sides are still talking, Peabody’s making noise about protecting its legal rights, hinting the fire could delay or reshape the acquisition originally set to close by mid-2025.

The deal includes four major mines in Queensland’s coal-rich Bowen Basin: Grosvenor, Aquila, Capcoal, and the now-smoldering Moranbah North. Peabody had agreed to pay $2.05 billion upfront, with extra cash tied to performance goals—like restarting Grosvenor, which was already recovering from a 2020 explosion. For Anglo American, this sale is part of a fire sale of “non-core” assets (coal, nickel, platinum) to go all-in on copper and iron ore. But the mine fire has thrown a wrench into what was supposed to be a clean exit from coal.

Financial Services

Raymond Gatcliffe Takes Helm as CEO of Citibank Canada

Citibank has appointed Raymond Gatcliffe as the new Country Officer and Chief Executive Officer for Citibank Canada, effective April 1, 2025. Succeeding John Hastings, who will remain on the Citibank Canada Board of Directors, Gatcliffe steps into the role with a mandate to drive Citi’s strategic vision in Canada. His responsibilities will include advancing the bank’s position as a leading partner for cross-border institutional clients, overseeing its transformation efforts in the country, and acting as Citi’s primary regulatory liaison.

The move isn’t random. Gatcliffe’s a has experience running Citi teams in Europe, the Middle East, and the Caribbean. But Canada’s familiar turf for him. “I’m thrilled to be back,” he said, nodding to Citi’s 106-year history in the country (they first opened shop in 1919). The bank, which employs over 2,500 Canadians, pitches itself as a go-to partner for businesses eyeing global markets.

Citi’s Canadian footprint spans offices in Toronto, Montreal, Calgary, and Vancouver, offering everything from corporate banking to wealth management. Gatcliffe’s appointment signals the Wall Street giant isn’t backing off Canada—if anything, it’s doubling down on making the country a key hub in its worldwide network.

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Healthcare

Health Net and Centene Foundation Commit $9M to Strengthen California’s Physician Pipeline

In a significant move to address California’s growing physician shortage, Health Net and the Centene Foundation have pledged over $9 million to support a broad range of initiatives aimed at expanding and diversifying the state’s physician workforce. This comprehensive investment targets every stage of the medical career pipeline—from early education to medical residency and leadership development.

A major portion of the funding, over $3 million, has been allocated to Physicians for a Healthy California to support a long-term physician pathway project that starts as early as pre-kindergarten. The initiative will not only nurture early interest in medicine but also remove structural barriers, promote cross-sector collaboration, and encourage investment from additional partners to scale impact.

Another $5.5 million grant will go to Charles R. Drew University of Medicine and Science to provide full-tuition scholarships and resources that support medical residents, helping ensure future doctors are well-equipped to offer high-quality, culturally competent care in underserved communities. An additional $1 million+ has been granted to the National Hispanic Health Foundation to strengthen mid-career physicians’ leadership and policy advocacy skills. Together, these targeted efforts represent a transformative step toward addressing California’s physician shortage while promoting equity and representation in healthcare.

Industrials

APTIM and BWXT Win $1.4B Contract to Oversee US Strategic Petroleum Reserve

The U.S. Department of Energy just handed a 1.4 billion contract to manage the Strategic Petroleum Reserve (SPR)—the world’s largest emergency oil stash. The duo, teaming up as Strategic Storage Partners, will oversee the SPR’s sprawling Gulf Coast operations in Texas and Louisiana for at least five years, with a potential extension bumping the total payout to $2.6 billion. Their job? Keep the SPR’s facilities in tip-top shape, ensure oil quality, and roll out new tech to keep America’s energy safety net ready for crises.

The SPR isn’t just any stockpile—it’s 714 million barrels of crude stashed in underground salt caves, acting as a global shock absorber when oil markets go out of control.

APTIM and BWXT, both heavy hitters in high-stakes infrastructure projects, are taking the reins as the U.S. rebuilds the reserve after draining millions of barrels to calm prices during recent global chaos. This deal isn’t just a cash cow—it’s a bet on modernizing the SPR to handle everything from hurricanes to wars.

Tech

Nvidia Gains Relief as U.S. Backs Off China Chip Sales Restrictions

In a pivotal development for Nvidia, the Trump administration has reportedly abandoned plans to further restrict the company’s sales of its H20 AI chips to China, according to NPR.

The H20 is Nvidia’s most powerful graphics processing unit currently approved for the Chinese market, though it remains less advanced than the Blackwell series used in the U.S. The reversal reportedly came after Nvidia CEO Jensen Huang attended a dinner with Trump at Mar-a-Lago.

This move lifts a major overhang that had been weighing on Nvidia stock and offers a strong boost for the company’s China-focused business, analysts say. Firms like Alibaba, ByteDance, and Tencent have already placed H20 orders totaling an estimated $16 billion for 2025.

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