(as of 6:45 AM PST)
It's a bit of a minefield for investors as they weigh global and economic events this morning. While the effects of the tragic terror attack in Orlando wane and thoughts of a Federal Reserve interest rate hike diminish, attention now shifts to the very likely prospect that British voters will vote to exit the European Union. Several polls show that the vote to exit is solidly in the lead in a vote to be held on June 23rd. A vote for a British exit or 'Brexit' as the event has become known would signal a shift from global cooperation to nationalism, a concept that is also being pushed by the 'Trump for President' agenda. Despite the stream of concerns, the US economy continues to provide a strong positive force to the global economy with unemployment at very low levels and longer term corporate growth projections (4th quarter of 2016) looking very strong. US markets continue to lag in what might be the fourth consecutive day of declines. Oil is on the decline again, but worries about a supply glut are on the decline, with projected demand numbers increasing and turmoil inside of Nigeria putting a dent is global supplies. Precious metals continue their upward trend with the price of gold approaching $1300 per ounce. Don't be surprised to see markets turn to the upside as the day wears on as oil prices react positively to a recent uptick in the demand for oil and energy stocks lead the way.
No comments:
Post a Comment