Precious Metals
Stocks Sink As ‘Appulus’ Fails To Impress; Gold Up, Crypto Down, Oil Flat
Stocks Sink As ‘Appulus’ Fails To Impress; Gold Up, Crypto Down, Oil Flat
Eurozone PPI plunged overnight, but ugly US Services PMI data and…
Stocks Sink As ‘Appulus’ Fails To Impress; Gold Up, Crypto Down, Oil Flat
Eurozone PPI plunged overnight, but ugly US Services PMI data and slumping factory orders sent yields dramatically lower. For context, this was the worst day for the US macro surprise index since the first week of January…
Source: Bloomberg
The overnight extension of Friday’s yield surge (pushing yields up by 6-8bps before the data hit) was cut short by the weakness in US macro data, plunging yields 10-14bps lower, leaving yield lower on the day by 1-2bps…
Source: Bloomberg
But the big story going into today was Apple’s WWDC event. Apple Surged up to an all-time high in the morning session but as they released the VR/AR headset, the price plunged into the red for the day. ‘Appulus’ starts at $3499 and won’t be released until 2024..
And that weighed on the broader market. Small Caps had been lagging all day, not helped by chatter of much higher capital requirements for ‘mid’-sized banks. Nasdaq was leading the day until AAPL shit the bed. The S&P and Dow ended red…
S&P pushed into a ‘bull market’, up 20% off the October lows intraday, finding resistance at a key level though…
Source: Bloomberg
It is worth noting that the Nasdaq/Russell2000 ratio rebounded today but was unable to recover its record highs from March 2000…
Source: Bloomberg
Bank stocks tumbled on the Basel III Endgame headlines…
Additionally, early in the day, the SEC sued Binance – the world’s largest crypto exchange – and that sent all cryptocurrencies lower with Bitcoin back down to $25,500…
Source: Bloomberg
The dollar ended basically flat on the day, erasing overnight gains as the weak US data hit…
Source: Bloomberg
2Y yields broke back below 4.50%…
Source: Bloomberg
Oil prices surged higher on Sunday night after Saudi’s production cuts, with WTI topping $75. But as the day wore on WTI slipped lower to end basically unchanged…
Get back to work MbS!
Gold rallied on the bad econ news, ripping all the way up to pre-payrolls levels…
Finally, tick tock on the latest bubble-fest?
Source: Bloomberg
Did ‘Appulus’ just distract the world from AI long enough for some rational thought to return?
Tyler Durden
Mon, 06/05/2023 – 16:00
dollar
gold
bubble
nasdaq
Max discovers new copper-silver target at CESAR – Richard Mills
2023.09.23
The importance of copper exploration projects cannot be understated. In an era dictated by continued global warming, the world requires more…
Silver Co. Makes New Plan For Its Operations in Peru
Source: Timothy Lee 09/22/2023
The objectives of the Canadian miner’s fresh strategic direction are to improve production and reduce costs,…
Time to Load up on Gold and Silver
Source: Michael Ballanger 09/22/2023
Michael Ballanger of GGM Advisory Inc. takes a look at the current state of the gold and silver market…
-
Companies14 hours agoMax discovers new copper-silver target at CESAR – Richard Mills
-
Uncategorized14 hours agoCopper Road intersects broad zones of visible copper mineralization at its namesake project in Ontario – Richard Mills
-
Economics17 hours agoTime to Load up on Gold and Silver
-
Base Metals23 hours agoSalzgitter orders 100 MW green hydrogen plant from ANDRITZ for low CO2 steel production: SALCOS
-
Financing News15 hours ago1844 Announces a Non-Brokered Private Placement of Flow-Through Units, Extends the Previously Announced Private Placement of $2,000,000 and Provides Update Regarding Option Agreement
-
Energy & Critical Metals21 hours agoAn Improved FedEx Can Deliver A New High: This Is Why
-
Economics17 hours agoUAW Strike Eventual Agreement Could Carry Inflationary Implications
-
Economics15 hours agoWhy Did Bill Gates Make Sudden U-Turn On Climate Doom Narrative?
