Loading ...and that’s about it for now.
Dollar is flat, rates down 2.4 bips, oil down 1%, Bitcoin was up 5-6% over the weekend above $104K, now giving 1% back this am
Fed meeting this week, hard to see anything positive for us there, whether they cut or not. If they don’t cut, all hell will break out in pm’s after the meeting. If they do cut, we’ll just get hit less hard. Regardless, the SM will just keep steaming ahead.
Some eco data today – PMI’s @ 0945 am. In fact, quite a bit of eco data this week, including retail sales, GDP.
Truth is, I’m having a hard time seeing anything that will be bullish for the metals after the drubbing last Thurs. & Friday. Paper is king with TSLA almost having doubled since the election, Nasdaq up something like 33% this year, I think the S & P is looking at back-to-back years of 20% gains. Bitcoin a double.
We’ve had a decent year in the metals, but why doesn’t it feel that way?