hernancortes
Fly on the Wall
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- 78
Record high gold price over the weekend, but average attendance again at our local coin show. Dealers raised their prices though probably anticipating PMs going up.
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By Tatiana Darie, Bloomberg markets live reporter and strategist
The stocks selloff is displaying features that were often seen back when shares plunged in 2022, which is a warning for equities now.
The S&P 500 has fallen for seven of the past 11 trading sessions through Monday, leaving its hit ratio — the amount of daily gains as percentage of total trading days — at 36.4%, on pace for its weakest since December 2022.
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U.S. stock futures were higher on Wednesday morning after the S&P 500 notched its third straight day of losses.
Futures tied to the S&P 500 climbed 0.3%, while Nasdaq-100 futures gained 0.1%. Dow Jones Industrial Average futures advanced 47 points, or 0.1%.
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Mayfield sees equities trading mostly range-bound in the near term, with an exception being if any geopolitical event spikes oil prices even higher.
"The primary headwind is the hawkish repricing of Fed expectations. I don't think Fed Chair Powell did much to ease those concerns today, perhaps intentionally," he told CNBC. "The market is getting to a place where it's questioning whether there will be a rate cut at all in 2024."
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"When we do the risk assessment around that baseline, the chances that we would have something like a global recession is fairly minimal. At this point, it will take a lot to derail this economy. So there has been tremendous resilience in terms of growth prospects," Pierre-Olivier Gourinchas, economic counsellor and director of the research department at the IMF, told CNBC's Karen Tso on Tuesday at the group's meeting in New York.
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People, average Joe on the street types... are waking up to reality...?I forgot another link related to the mystery buyer:
People, average Joe on the street types... are waking up to reality...?
and you can charge it!Hmm. Where are these mysterious price-insensitive buyers?
The Cloward-Pliven strategy at work...
Thanks! Yeah, that's how the game is played. Same as it ever-was.I missed this on Friday:
They raised the margin requirements for the second time in (roughly) two weeks.
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Friday, The U.S. Department of Commerce said its core Personal Consumption Expenditures price index increased 0.3% last month. The data rose in line with economists’ expectations.
However, in the last 12 months, consumer price pressure rose slightly more than expected to 2.8% in March, unchanged from February; according to consensus forecasts, economists were looking for price pressure to increase at a somewhat slower pace of 2.7%. Inflation remains well above the Federal Reserve’s target of 2%.
The report said headline inflation rose 0.3% last month, in line with expectations. However, continuing the trend, annual headline inflation was slightly hotter than expected, rising 2.7%, versus expectations for a 2.6% increase.
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The Fed won't be able to justify cutting rates with this data.
Only way out (as in past) is war... world war.Good interview and IMO spot on.
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The latest Kitco News Weekly Gold Survey showed retail investors increasingly losing faith in the precious metal, while analysts and institutional players see this week’s consolidation as a harbinger of further gains.
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Next week’s economic news highlights are the Federal Reserve’s monetary policy decision on Wednesday and the nonfarm payrolls report on Friday, but markets will also pay attention to Tuesday’s U.S. Consumer Confidence report, Wednesday’s ADP nonfarm employment, ISM manufacturing PMI, and JOLTS job openings, weekly jobless claims on Thursday, and the Friday release of ISM Services PMI.
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