Afternoon Spy: Precious Metals Explode, Rare Earths Big Find (JVA, EXK, GORO, NFLX, BIDU, MSFT, MCP, AVL, QCOM, YNDX, SINA)

The markets continue to trade flat today. Factory orders increased 0.8% in May after falling 0.9% in April. Analysts’ consensus was for orders to increase by 1%. In other economic news, motor vehicle sales fell from 9.09 million in May to 8.84 in June. This is the weakest number since September 2010.

Today’s Top tickerspy Indexes:

Coffee Stocks (up 5.4%, see graph): Shares of Coffee Holding Company (JVA) are leading the Index higher on well above average volume. The stock has performed well the past month, up over 175%.

Canadian Mining Stocks (up 5.1%, see graph): The Index is performing very well as a whole this morning with shares of Endeavour Silver (EXK) pulling the Index higher on average volume. It appears investors have returned to precious metals stocks with concerns over the Chinese economy and the Greek debt crisis. Also performing well today is the Gold and Silver Stocks Index. Gold Resource (GORO) is the only stock in the red after Barron’s said the company could be overvalued, based on an uncertain earnings growth outlook.

Social Networking Stocks (up 3.4%, see graph): Shares of SINA (SINA) are trading higher today on average volume. The stock has risen more than 25% over the last 5 trading days.

Dotcom Retailer Stocks (up 3.1% today, see graph): Netflix (NFLX) is leading the Index higher after the company announced it will begin offering service in Latin America and the Caribbean for streaming TV shows and movies later this year.

Today’s Top Market Headlines

What Does Microsoft Give Up With China Baidu Deal?: Baidu (BIDU) and Microsoft (MSFT) announced that Bing, Microsoft’s decision engine, will provide English search results to Baidu users in China.

Under The Sea: The New Place To Find Rare Earths Deposits: Shares of Molycorp (MCP), the largest U.S.-based rare earths miner, and rival Avalon Rare Metals (AVL) are down today after Japanese scientists announced that massive deposits of the 17 elements used to produce hybrid cars, laptops, smartphones and other high-tech devices can be extracted from the floor of the Pacific Ocean.

Qualcomm’s Target, Estimates Raised at Sterne Agee: Qualcomm (QCOM) saw its price target and earnings estimates boosted by analysts at Sterne Agee.

Yandex: 5 Analysts Launch; All Bulls Except For Goldman: Five investment firms picked up coverage of the Russian Internet search giant Yandex (YNDX), mostly with a positive spin.

Berkshire’s Munger Disbands His Investor Cult With Barbs for Walls Street: Charles Munger, the 87-year-old billionaire, used his farewell conference to criticize Wall Street, reflect on investing and raising children, and treat a fawning audience to his gratitude and familiar jibes.

Tags: AVL, BIDU, EXK, GORO, JVA, MCP, MSFT, NFLX, QCOM, SINA, YNDX