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Brief look at early Monday markets …

edited April 24 in Other Investing
Major U.S. stock index futures down by about -.66% across the board (-220 points on Dow)

Japan’s Nikkei down over 2%.

Most Asian markets off sharply.

Rising Covid deaths and lockdowns affecting many Asian economies

Most commodities off sharply led by iron ore - down by over 6%

Oil off over 2.5%

Gold down slightly at $1925. Positive article about gold in this week’s Barron’s.

The Euro is gaining based on French election result favoring more liberal / pro-NATO candidate

U.S, Bonds are up slightly with yields retreating. Treasuries: 5-year 2.88% / 10-year 2.84% / 30-year 2.90%

Buckle up.

Comments

  • ork. Bette Davis time.
  • edited April 24
    Large US tech companies are reporting next week. Netflix took a big hit the week and will the rest of FAANG stocks do better.

    Also crude oil future declined to $99 per barrel as the Chinese demand has soften due to lockdown on several large cities.
  • edited April 24
    Miner Rio Tinto (RIO) is fairly diversified, but heaviest in iron ore. I lightened up on it as it rose this year but resisted the temptation to unload all of it a week ago - Woulda Coulda Shoulda.
  • edited April 25
    Gold is still ok so far. The future market for Monday continues to decline today.

    At least you did not invest with Cathie Wood. Her flagship ETF is down 45% so far.
  • edited April 25
    Like turbulence on a plane trip -- or life itself, the only way out is thru.

    Or, as Dr Sidney Freeman would say on M*A*S*H, "ladies and gentlemen, take it from me. Pull down your pants, and slide on the ice...."
  • And both the equity and bond markets just bounced back to positive territory today. Much ado about nothing.
  • Saying is, dumb money in the morning after the opening, smart money in the afternoon before the closing.
  • edited April 25
    Well … no intention on my part to create hysteria. Fido would appear to agree with me that the overnight Asian / global markets and U.S. futures are worth watching. Sometimes they’re accurate predictors of the next day’s activity and sometimes they’re not. Fact remains that if you own Asian stocks you’re a bit poorer today. And if you invest in gold or commodities it was a rough day.

    Fidelity: “You don't have to trade futures to understand what the markets are doing globally. Global markets move on news and it can be seen in the advancement or the decline in the index futures as stocks trade around the world. For information on what the market will do when it opens at 09:30 ET, the index futures are one indicator that offers important information as we approach that open.”

    https://www.fidelity.com/learning-center/trading-investing/trading/using-futures-as-indicator

  • Or, as Dr Sidney Freeman would say on M*A*S*H, "ladies and gentlemen, take it from me. Pull down your pants, and slide on the ice...."

    Yup. glad to see the green, rather than the red. But will it do much to help me with my own holdings? I see BHB is down on the day, still. I'm waiting a while before throwing any new money into this Market. Further to fall. My fearless prognostication. But I'm holding onto what I've already got. In no particular order:

    PRWCX (owns zero Rivian?????)
    PRISX
    PRIDX
    TUHYX
    PRFRX
    BHB
    ENIC
    BRUFX
    TRAMX
    PRNEX
    PRTXX (sweep)
  • edited April 25
    Weird day. The VIX jumped from a sedate 20 where it’s been stuck a long while to an elevated 30 early in trading, but fell back to about flat at day’s end. Longer dated bonds did well as the futures markets suggested they would. My newest acquisition, GNMA , gained .94%.

    DKNG, a speculative play, was my best performer, up 4.63%. I’ve been hoping for a buyout offer and the action in Twitter has sparked some market speculation about potential acquisitions in the internet area generally. That said, my position in DKNG is still down slightly from average purchase price. Miners got slammed today so badly that I slightly lagged my benchmark. Overall, it wasn’t a bad day. I wish I understood what propelled the midday shift when the Dow moved from down 300-400 points to positive. Perhaps Musk’s Twitter buyout had something to do with it?

    Thanks to all who contributed to the thread. A classic Bette Davis scene from @Crash.
  • edited April 26
    Sven said:


    At least you did not invest with Cathie Wood. Her flagship ETF is down 45% so far.

    I hope her fund isn't a leading indicator for the stock market in general...

    .
  • edited April 26
    DavidF said:

    I hope her fund isn't a leading indicator for the stock market in general...

    Looks like ARKK lost a bit over 6% today. You need a tough constitution to bear that kind of volatility and not spill your guts. I’ve been playing with one of hers, DKNG, for nearly a year - in, out, in.:) It fell 4.5% today after gaining about as much yesterday. It’s like taking a long shot on a dark horse hoping to score big. However, I couldn’t bear to have a significant amount in either.

    Overall, some froth is coming out of the markets which I think is good. Dow off around 800 points today. I started tracking an EM etf for the hell of it today just to get a sense. That category lost about 2% today. Prompted me to add a few dollars to DODEX.
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