Tag: stock market
-
![World stock markets tumble as bond yields rise]()
World stock markets tumble as bond yields rise
Global equity markets are selling off hard this morning as the probability of more rate hikes increase. The real action is in the bond markets as yields are rising. The US 2 year yield actually broke out into new recent highs taking out the March 2023 peak. The 10 year yield is also breaking out…
-
![Make or break for silver?]()
Make or break for silver?
Silver (XAGUSD) remains consolidated after making a one leg down move with the price breaking below $24.50 and then retesting this breakdown zone. This move lower was not a surprise to our readers given my analysis on gold. Silver tends to follow gold rather than copper even though most consider silver a more industrial metal…
-
![Gold below $1900? Gold breaks critical technical support on hawkish Fed]()
Gold below $1900? Gold breaks critical technical support on hawkish Fed
Gold and other precious metals were rocked last week and have broken below critical technical levels as the likelihood of a Fed soft landing diminish and the likelihood of a recession increases. In the month of June, the Fed ‘paused’ raising interest rates, but Powell did mention the Fed is looking to raise rates two…
-
![Canada’s largest uranium producer Cameco breaks out as uranium price rips!]()
Canada’s largest uranium producer Cameco breaks out as uranium price rips!
Cameco is on a run due to uranium’s good fortune. In previous uranium articles, I spoke about how the technical charts were hinting at some downside. This did occur and charts we use to assess the uranium price hit our support levels, or price floor. Uranium itself was at a key psychological level testing the…
-
![Japan’s Nikkei near 20 month highs, closes above 30,000]()
Japan’s Nikkei near 20 month highs, closes above 30,000
While US stock markets, European stock markets, and many other Asian stock markets continue to chop around and range, one market in Asia is on a tear. Japan is drawing in investor money and it really all began with the Oracle of Omaha, Warren Buffett. I recently gave my thoughts and technical levels on Japan…
-
![Home Depot posts worst revenue miss in 20 years, signs of recession?]()
Home Depot posts worst revenue miss in 20 years, signs of recession?
Home Depot (HD) reported fiscal first quarter 2023 earnings which mostly missed estimates and has raised concerns that the consumer is being tapped out. Put it another way in our consumer based economy, are signs of an economic slowdown or recession increasing? This has been on the mind of investors ever since the Fed has…
-
![Palantir (PLTR) stock rips over 20% on earnings and unprecedented AI demand]()
Palantir (PLTR) stock rips over 20% on earnings and unprecedented AI demand
This year, one of the largest sector momentum trades was/is AI. The US markets saw AI stocks pop to kick off 2023. Take for example C3.ai under the ticker AI: BigBear.ai under the ticker BBAI: We saw the same pop move in Canadian AI names such as FOBI AI: Big pops at the beginning of…
-
![Fed hawkish pause, regional banks tanks, and gold nears record highs!]()
Fed hawkish pause, regional banks tanks, and gold nears record highs!
Well what developments in the past 24 hours. Investors and traders were anticipating the Federal Reserve meeting. A 25 basis point hike was expected along with some statement hinting at no more interest rate hikes. Well, the market got the 25 basis point hike (the Fed’s 10th rate hike in a row), and some sort…
-
![First Republic Bank troubles weigh in on stock markets]()
First Republic Bank troubles weigh in on stock markets
As earnings continue to come out mixed, and raising the probabilities of an upcoming recession, leave it to the regional banks to once again take center stage. Many analysts warned that the regional bank crisis is not over when you consider the fact that deposits are shrinking, lending (a bank’s primary business) is slowing, and…
-
![Short bet against Canadian Bank TD increases by 45%]()
Short bet against Canadian Bank TD increases by 45%
Two weeks ago, Canadian bank Toronto-Dominion (TD) became the world’s most shorted bank. Hedge fund bets against TD hit $4.2 billion. This news raised some concerns for Canadians as hedge funds are clearly shorting TD for some reason. Is it a bet against the Canadian economy? Most analysts agree the short is a sympathy play…
