I wanted to shoot you a little update on some market trends and news that caught my eye. Keep in mind these are subject to change every day. The financial markets are very over-reactive. Any slight news can destroy the thoughts here.
We missed last week, but the market sentiment hasn’t changed. Higher inflation and geopolitical turmoil is causing stocks to end lower, just as they did Friday.
We should start thinking about the r-word, recession. I am not saying this will happen, but as this point we have two choices. Inflation or recession, which will it be? If you are a long term investor, the correction is a blessing. Either way, I think we see a continued downtrend for a few months at least.
Gold has fallen off it’s high horse once again, after rumors Putin and Ukraine are in peace talks.
Like we just spoke about, inflation is running hot. The FOMC begins it’s two day policy meeting this week. The central bank is expected to start raising interest rates at the end of the meeting. We aren’t entirely sure if this will be 0.5% or 1%. Something has to be done.
Data released on Thursday is expected to show claims for state unemployment benefits dropped 7,000 claims. We should also expect to see housing sales this week.
Earnings this week:
FedEx - Thursday
Dollar General - Thursday
For a few days, crypto finally ended it’s lockstep with the stock market. There was a pump to the upside. Was this because Russia and it’s citizens realized were buying?
President Biden signed an executive order this week detailing crypto. At first glance it is promising. They stated crypto is here to stay and we need to be a top country in innovation.
I like where this is going, but this could also be an advertisement for Central Bank Digital Currencies. Which are the exact opposite of a free cryptocurrency.
I really feel like the only coins worth DCAing into are Bitcoin and Ethereum at these levels. I do play other alt coins, but not DCAing into them.
I should have a write up out soon on FLUX and PRE. Stay ready for those.
Have a good week and let’s make some money.
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