Q: What is notable about the recent equity market rally?
A: Per a recent article in the Wall Street Journal (WSJ), “A broader group of companies has fueled the recent climb to records”.
Q: 2024 Cryptomania: What is FOMO and how does it relate to record highs in Bitcoin as well as other cryptocurrencies?
A: Fear of missing out compels investors to complete new purchases on the next “big thing” and that builds momentum.
Q: What are some things investors should know about the recent rally in Gold?
A: Central banks all over the world have been hoarding approximately 30% of global mining production over the past two years led by Turkey and China. Price Risk is something investors should be aware of as in previous cycles high prices have led to large supplies of secondary market sales. Lastly, Recent social media posts have been targeting women to round up old & unused jewelry for fast cash.
Headline Round Up
*Oil Tops $80 After Inventories Drop!
*Huge Divergence Between International Energy Agency (IEA) and Organization of the Petroleum Exporting Countries (OPEC) Demand Forecasts.
*TikTok Tow! Former Treasury Secretary Steven Mnuchin Putting Together a Group to Buy TikTok After House Passes Bill to Force Sale.
*Reality Check? Electric Vehicle (EV) Euphoria Dead? “While none of the automakers has officially announced changes to its long-term goals, there’s a notable shift in tone & messaging around their goals”.
*WSJ: EV Startup Fisker Preparing for Possible Bankruptcy Filing.
*Porsche Warns Investors Margins Squeezed as It Launches New EV and Hybrid Models.
*Oops!? Miami’s Tallest Planned Tower Can’t Fill Its Space.
*Dollar Tree Now Up To a $7 Tree! The Uptown Hunt for the Elusive $20 Lunch.
*Boeing Delivery Delays Force Southwest, United, and Alaska Air to Cut Schedules?
*Uh Oh! Wells Fargo Analyst, Colin Langan, Calls Tesla a “Growth Company with No Growth.
*Albemarle Opening Auction Market to Sell Some of Its Metal.
*Nuclear Small Modular Reactors (SMR) Projects Expand 65% Since 2021.
*Oracle Spikes After Reporting Robust Cloud Computing Business.
*3M New CEO, William Brown, Celebrated in Price Rally?
*Blackstone Inc.’s President Jon Gray Says It’s Time to Buy Real Estate.
Mergers and Acquisitions!
*Kimmeridge Energy Management Co. Proposes Texas Shale Gas Merger with SilverBow Resources, Inc.
*EQT Corp. Strikes $5.5 Billion Dollar Deal to Buy Back Equitrans Midstream.
Skid Row
*Beware of Flashy Bling: Rodeo Drive Scamster Sells Fancy Watches on Consignment and Keeps All Cash.
SPDR Standard & Poor’s 500 Index Exchange Traded Fund Trust (01/01/1993 – 12/31/1999)
– Courtesy of Bloomberg LP
Dow Jones Industrial Average Index (12/29/2023 – 03/15/2024)
– Courtesy of Bloomberg LP
Energy Select Sector SPDR Fund & SPDR Standard & Poor’s 500 Exchange Traded Fund Trust (12/29/2023 – 03/15/2024)
– Courtesy of Bloomberg LP
Profit Report
*The McGowanGroup Wealth Management’s solutions toolbox for astute client questions.
