Ah, the dangers of groupthink in financial markets—the gold edition. There are some very dumb people among gold bulls—real, imagined, and in hedge funds and the like—who ignore the possibility of negative events hitting sentiment and momentum just when they should have been alert to the dangers. Take last week—at Thursday’s close, gold futures on […]
Groupthink in financial markets – gold edition Read More »
It’s no wonder Tesla CEO Elon Musk has knocked down stories that the company is planning to refresh its key seller, the Model Y EV, this year. US media reports say that unsold Teslas are so numerous that they can be seen in satellite images from space. The story emerged at the same time as
Tesla’s Model Y dilemma Read More »
Elon Musk wants shareholders in Tesla to approve his controversial multi-billion dollar share deal at Thursday’s annual meeting. To show that he has their best interests at heart, he says he will ban Apple products from Tesla cars and other products if the phone giant integrates OpenAI’s technology into its iPhones. Such a ban, if
Elon Musk threatens Apple ban over OpenAI integration Read More »
After the excitement of last week, this week should be quieter, even though two central banks are meeting – The US Fed and the Bank of Japan on Friday. The May US consumer inflation report mid-week could trigger a return of volatility to markets if the data shows no change in US price pressures (as
A handful of results, and lots of annual meetings, are scheduled for the US and European markets this week. Major companies due to report this week include tech giants Oracle, Broadcom, and Adobe, as well as major grocery chain Kroger, which is attempting to merge with rival Albertsons. However, strong opposition from consumer groups and
Market highlights: Tech earnings, investor concerns, Berkshire’s moves Read More »
The US Federal Reserve meets this week, and one thing is certain: after the surprise surge in US job numbers in May, the Fed won’t be following the European Central Bank and Bank of Canada in cutting its key interest rates anytime soon. The addition of 272,000 new jobs was a shock, and even if
Central Banks’ diverging paths Read More »
Reality drifted through global oil markets last week after OPEC+ bowed to reality and announced it would start easing its production caps, while keeping others in place until next year. It was an admission that even with control over 30% of the global oil market — around 40% if Russia is assumed to be a
OPEC+ adapts amidst shifting oil markets Read More »
Amid the slower-than-forecast imports for China for May, the usual suspects – iron ore, copper, and coal – stood out, but oil slid, even though global prices were not all that strong. In fact, some canny analysts reckon China trimmed oil imports because of weak refining margins and the growing impact of growing sales of
China’s import trends in May Read More »
Nvidia and the tech sector help the S&P 500 and Nasdaq close at new record highs as investors look to Wednesday’s Fed Policy meeting. The S&P 500 closed up 0.26 per cent at a record 5,360.79. The Nasdaq finished 0.35 per cent higher also setting a new record close at 17,192.53. The Dow Jones closed
US markets hit new records ahead of Fed Policy meeting Read More »
