Discover more from Grit Capital
MONDAY MARKET UPDATE
*This is sponsored advertising content.
Good Morning Everyone!
Remember, if you sold all your stocks recently this investing thing just isn’t for you. You gotta stay in the game!
Quiet Day ahead of U.S. Fed meeting on Wednesday
Japan is closed
U.K. holiday for Queen Elizabeth funeral
June 2022 lows 3666
Today we are 5% above the June lows
CNBC this morning
Thomas Petterfy, CIO Interactive Brokers
“cash balances are at all-time highs”
Central Bank meetings this week:
U.S., Japan, Sweden, Switzerland, Norway, U.K.
Jay Powell very likely to go 75 basis points
Fed Rate upper bound rate
2.5% + 0.75 this week + 0.50 in November + 0.50 in December = 4.25% by year-end
Crude 82 -3%
OPEC heavyweight UAE (United Arab Emirates) is speeding up plans to boost oil production
Goal is to produce 5 million barrels a day by 2025 vs. 2030 previous plans
UAE produced 3.4 million barrels a day in August
Germany’s Chancellor Scholz
to travel to UAE and Saudi Arabia this week
expected to sign contracts to secure natural gas supplies from the Middle East
Digital asset flows (last week)
Low activity, $7 million total inflows
Ethereum: continued caution post-Merge
$15 million outflows (4th consecutive week)
Bitcoin: snaps 5-week outflow streak
$17 million inflows
Inflows to multi-asset products have remained steady
Only a few weeks of outflows YTD
Nearly same YTD inflows as Bitcoin
Safety in numbers
MEME OF THE DAY
WallStreetBets Fear & Greed Index = FEAR
Disclaimer: The publisher does not guarantee the accuracy or completeness of the information provided in this page. All statements and expressions herein are the sole opinion of the author or paid advertiser.
Grit Capital Corporation is a publisher of financial information, not an investment advisor. We do not provide personalized or individualized investment advice or information that is tailored to the needs of any particular recipient.
THE INFORMATION CONTAINED ON THIS WEBSITE IS NOT AND SHOULD NOT BE CONSTRUED AS INVESTMENT ADVICE, AND DOES NOT PURPORT TO BE AND DOES NOT EXPRESS ANY OPINION AS TO THE PRICE AT WHICH THE SECURITIES OF ANY COMPANY MAY TRADE AT ANY TIME. THE INFORMATION AND OPINIONS PROVIDED HEREIN SHOULD NOT BE TAKEN AS SPECIFIC ADVICE ON THE MERITS OF ANY INVESTMENT DECISION. INVESTORS SHOULD MAKE THEIR OWN INVESTIGATION AND DECISIONS REGARDING THE PROSPECTS OF ANY COMPANY DISCUSSED HEREIN BASED ON SUCH INVESTORS’ OWN REVIEW OF PUBLICLY AVAILABLE INFORMATION AND SHOULD NOT RELY ON THE INFORMATION CONTAINED HEREIN.
No statement or expression of opinion, or any other matter herein, directly or indirectly, is an offer or the solicitation of an offer to buy or sell the securities or financial instruments mentioned.
Any projections, market outlooks or estimates herein are forward looking statements and are inherently unreliable. They are based upon certain assumptions and should not be construed to be indicative of the actual events that will occur. Other events that were not taken into account may occur and may significantly affect the returns or performance of the securities discussed herein. The information provided herein is based on matters as they exist as of the date of preparation and not as of any future date, and the publisher undertakes no obligation to correct, update or revise the information in this document or to otherwise provide any additional material.
The publisher, its affiliates, and clients of the a publisher or its affiliates may currently have long or short positions in the securities of the companies mentioned herein, or may have such a position in the future (and therefore may profit from fluctuations in the trading price of the securities). To the extent such persons do have such positions, there is no guarantee that such persons will maintain such positions.
Neither the publisher nor any of its affiliates accepts any liability whatsoever for any direct or consequential loss howsoever arising, directly or indirectly, from any use of the information contained herein.