The latest market news, commentary and strategy by Adrian Rowney
5 Things that Grabbed my Attention
1. At some stage in the cycle we will see surging OIL prices with a falling global economy.....The resulting STAGFLATION is going to be horrendous......STAGFLATION will be absolute rocket fuel for PRECIOUS METALS
2. FEDERAL RESERVE just printed another $93bn out of thin air to bail out banks....HAHAHA....Print away Jerome!!
3. The market is pricing in the RBA to keep rates on HOLD next month....I am still expecting Dr Phil to go another 0.25%.
4. Rick Rule who is a bit of legend when it comes to commodities, said that if the price of URANIUM doesn't go up then the lights go out (in parts of the world reliant on nuclear).....Prices desperately need to spike to encourage investment in uranium mines....BIG URANIUM BOOM IS COMING: BUY URNM.
5. Accenture is sacking 19,000 employees....This is a strong indication that business is starting to cut back on IT upgrades/spending.
ASX Market Update
ASX 200 down 13 points to 6955
Block Inc (SQ2) tanked 18% on the ASX after allegations of rampant fraud/money laundering/drug dealing is happening on its CASH APP platform.
Remember, Ross Ulbricht - the computer geek who created the SILK ROAD platform is rotting away in prison, sentenced to life without parole?....Well Jack is unlikely to even get a slap on the wrist.
Look at this garbage....Those chasing income are getting smoked!
The Day Ahead
- Our SPI is down 3 points
- Bitcoin down 1.6% to $27,394 (Sunday morning price)
Movements affecting our resource stocks today (USD)
- BHP in the US up 0.94%
- Gold down 0.75% to $1981
- Paper Silver up 0.47% to $23.36
- Platinum down 0.66% to $986
- Copper down 1.2% to $4.07
- Brent Crude down 1% to $74.99
Asian Market Update
Hong Kong down 0.67%, China off 0.64% and Japan dipped 0.13%
Always a top priority for the Xi Man is energy security....BUY YAL,WHC,SMR + NHC
#China will extend the policy to cut import #tariffs for all types of #coal to zero, set to expire on Mar 31, to the end of 2023, in a move to ensure stable coal supply, the Customs Tariff Commission of the State Council said.
— YUAN TALKS (@YuanTalks) March 25, 2023
Global Market Update
DOW up 132 points to 32,237
Just incase you are wondering what has been going on in America.....
Brits down 1.26%, Germans fell 1.66% and Frenchies were off 1.74%
Go to Twitter and type in #FranceProtests.....oh my GOD!!
Key Market Summary