Walk The World In this week’s market update we as always start in the US, cross to Europe, Asia and end in Australia. Markets have started to look through the recession fears it seems, banking on the Fed slowing its rake hikes, and reversing later in 2023.
Yet the signals are still mixed, and earnings are clearly under pressure in many market sectors. But it does seem to me to be a question about seeing the wood for the trees. The bigger trend on markets still is pointing lower, despite the short term moves higher. We are not, I think out of the woods yet… remembering Central Banks over nearly 20 years have tried to engineer growth through massive stimulation and debt, and economies have been distorted beyond belief. As support is removed, asset values are still over done, and the cost of debt rises.
The Dow cut losses to close higher Friday, as investors bought the early-day dip in banks following a string of better-than-expected results, though concerns about a weaker economy linger. In the end the S&P 500 and Nasdaq finished at their highest levels in a month on Friday, leaving the S&P 500 up 4.2% so far in 2023.
For the week, the S&P 500 gained 2.7% and the Dow rose 2%. The Nasdaq increased 4.8% in its biggest weekly percentage gain since Nov. 11. The CBOE Volatility index -Wall Street’s fear gauge -closed at a one-year low. The U.S. stock market will be closed Monday for the Martin Luther King Jr. Day holiday.
*CONTENTS*
0:00 Start
0:15 Introduction
1:15 US Markets
4:10 Consumer Sentiment
5:59 US Dollar
7:05 Oil
7:30 Best Stocks From Goldman
10:30 Europe
12:55 Global Growth Slowing
14:00 Gold
14:15 Asia
15:35 Australia
18:30 Crypto SEC Action
20:00 Bitcoin
20:25 Summary and Conclusion
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My shares Clawed back $2000 in losses last week so now I feel better being A Capatolistic Pig and I hope that was not Racist.
Podcast edition: https://episodes.castos.com/dfa/c758bf4e-5da2-4817-a70d-7e2e984cdc28-SHGN7-S001-S001-T022-ISO1-1.mp3
If peoples superannuation is worth 20 cents in the dollar in a few months I would be surprised.
America has destroyed its strategic oil reserves the USA needs to refill its reserves just as China is opening up what could possibly go wrong in the USA
It was so obvious as there were no big sell off's of stocks so I kept Mine and now My Portfolio is still Kicking Ass.
Martin Your information run's through My Brain which Improves My Life as one piece of the puzzle You provide.
The trend isn't determined by any of those things. Real world conflict has a hundred fold more impact. Which means climate change does. Think about it. What has caused the largest local disruption in Australia in the past twelve months? Floods.
You, like every other economist, are making a fundamental mistake
We live in a big woods, much bigger than North can predict.
How can a failing fiat financial system possibly compete with a gold backed currency?
Would it give the opportunity for the gold backed currency to purchase fiat system assets at a bargain price?
Australia can soon ‘kiss its arse!’
See Argentia Default even while in export surplus!
See Australian debt clock’
$ 8 Trillion ( $3 trillion private debt)
I'm thinking equities will fall 5 to 10% in the next 6 weeks. Maybe I'm watching too much J Bravo.
New Year's Day Jig (live studio recording) is all it is. food and energy higher for longer.
Just as I've been predicting.
Thanks Mr. Martin.
Picoin is rising! Time to get Stokes before it dives again!
I hope the wood burns to ashes!