“Catching up on data out of China helped lift miners to the top of the heap as investors mulled over increasing signs the world’s second largest economy has bottomed out. But even as oil prices propelled the shares of BP and Shell up alongside the likes of Fresnillo and Anglo American, London’s blue-chip index slipped back following that old ‘good news is bad news’ scenario playing out across the Atlantic.
“The US economy is simply looking too healthy for US central bankers to administer a rate cut shot in the arm quite yet. Wait and see feels like the obvious play here and remarks by Fed chair Jay Powell at the weekend suggest he’s got that pencilled in at least for now, with investors having to consider that three cuts this year might prove to be a touch optimistic.”
Trump Media
“Hot on the heels of the news that Donald Trump has managed to raise enough cash to pay a New York court bond, the presidential hopeful has enjoyed another small boost to his fortunes.
“After watching shares in his media company sink on news it’s haemorrhaging cash and showing no sign that it’s on any kind of path to profitability, he’s seen things rebound with plenty of investors willing to speculate that Trump supporters will rush to get in on the action, even if the business case looks more than a bit shaky.
“Time will undoubtedly pass its own judgement on Trump Media & Technology Group but at the moment it can be viewed as a real-time litmus test of the former president’s current popularity. With supporters willing to part with hundreds of dollars for a pair of gold logoed trainers, it’s hardly a stretch to imagine many will also clamour to own a little bit of Trump’s company.
“Could this be the greatest meme stock of all time? If it is, Trump will no doubt find a way to use that label to his own advantage.”
Tesla
“It’s been another bad day for Elon Musk after Tesla reported its first fall in quarterly deliveries in almost four years. The EV distributor has become increasingly tainted by its founder, whose outspoken comments have become too X-rated for some motorists to contend with.
“But Tesla’s not alone when it comes to waning excitement about the shift to green motoring, as price sensitive consumers are less likely to change ingrained habits.
“This feels more like a bump in the road than a stop light, but caution will undoubtedly be in the minds of investors considering Tesla’s investment journey going forward.”
These articles are for information purposes only and are not a personal recommendation or advice.
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- Thu, 02/05/2024 - 10:55