Stocks Rally Shakes Off ‘Tiny Bit Hawkish’ Powell…
What Does It Mean – Japanese stocks are expected to decline due to concerns over potential interest rate hikes following Shigeru Ishiba’s victory in the ruling party’s leadership race. Ishiba’s win suggests a shift towards tighter monetary policy, which could strengthen the yen and negatively impact exporters. Additionally, mixed economic data, including a drop in industrial production and a rise in retail sales, contribute to market volatility. The anticipation of higher rates contrasts with China’s recent market surge, driven by measures to address its property crisis.
Prospect of Second Big Fed Cut Hinges on Powell and Jobs Report…
What Does It Mean – Federal Reserve Chair Jerome Powell’s upcoming speech and the latest jobs data are expected to clarify the Fed’s interest rate path. Powell will discuss the economic outlook, emphasizing a gradual approach to rate cuts. The September jobs report is anticipated to show moderate job growth, with payrolls rising by 146,000 and the unemployment rate holding at 4.2%. This data will help gauge the labor market’s health and inform the Fed’s policy decisions amidst ongoing labor unrest and economic uncertainties.
Jeff Currie on Why Copper Is His Highest-Conviction Trade Ever…
What Does It Mean – Jeff Currie, a long-time copper bull and commodities veteran, argues that copper is his highest-conviction trade due to its critical role in electrification and decarbonization. He highlights the long-term demand for copper driven by electric vehicles and new grids, despite recent price declines. Currie explains that the mismatch between short-term prices and long-term supply is due to the slow pace of new mining capacity coming online. He also discusses the impact of mergers and acquisitions on production, the tightness in copper concentrates, and the broader implications for the energy transition.
Helene Has the US South Facing Another Deadly Flooding Day…
What Does It Mean – Hurricane Helene has caused severe flooding and destruction across the southeastern U.S., resulting in at least 84 deaths and extensive damage to homes and infrastructure. The storm, which made landfall in Florida as a Category 4 hurricane, has left millions without power and isolated many communities due to washed-out roads and collapsed phone service. Floodwaters continue to pose a threat, particularly in Georgia and South Carolina. The economic impact is significant, with damage estimates ranging from $35 billion to $110 billion. A public health emergency has been declared in several states, including North Carolina.
‘Absolutely incredible’: Man rowing solo across Atlantic is surrounded by whales…
Tom Waddington is on a quest to row across the Atlantic Ocean all by himself — but on Sunday, he found plenty of company at sea, when a pod of pilot whales thronged around him. They followed him for hours, growing from a few playful animals to hundreds of large creatures. At least one smacked into his small boat.
“It was absolutely incredible,” Waddington said.
The encounter didn’t harm the boat, or its progress across open water.
Between favorable winds and waves, and what Waddington called “whale-fueled adrenaline,” his boat is making good progress, he added. You can track its voyage online.
Data supplied by HS Dent Research
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Relative strength measures the price performance of a stock against a market average, a selected universe of stocks or a single alternative holding. Relative strength improves if it rises faster in an uptrend, or falls less in a downtrend. It is easily applied to individual positions in your portfolio and to sectors and asset classes.
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