Gold Soars to Record Highs Amid Global Uncertainty
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Here's how some major markets/indexes performed in the last 5 days:
(USD)
As of 10/18/2024 at 12:05pm PST
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?? Tech Stocks Lift Wall Street as Netflix Powers Ahead
Wall Street futures jumped today, driven by Netflix's strong earnings, which sent its shares up 13%. Tech stocks led the rally, with the Nasdaq rising as investors bet on continued tech outperformance. Netflix’s better-than-expected results—thanks to subscriber growth and password-sharing crackdowns—sparked optimism across the sector.
Meanwhile, bond markets faced a sell-off as traders reassessed the likelihood of future Federal Reserve rate cuts. Rising yields have dampened expectations of any major Fed moves, with markets now pricing in a more cautious monetary approach.
Why it matters: The tech-driven rally offers a positive signal amid the broader market uncertainty. However, the sell-off in bonds reflects a re-evaluation of the Fed’s trajectory on interest rates, signaling continued volatility ahead.
Bottom line: Tech remains a bright spot in a market navigating Fed uncertainty, but the shifting bond landscape suggests investors should keep an eye on broader economic signals.
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?? Gold Soars to Record Highs Amid Global Uncertainty
Gold has hit record highs, surpassing US$2,700 an ounce for the first time ever. The precious metal’s surge is fueled by a cocktail of factors: falling interest rates, which make non-yielding investments like gold more attractive, and geopolitical tensions, which often drive investors toward safe-haven assets.
Why it matters: With the U.S. election looming and global uncertainties intensifying, gold's value is climbing as investors seek security. The precious metal’s momentum signals growing concerns over market stability—and could continue its upward trend.
Bottom line: As gold glitters with record highs, it remains a beacon for risk-averse investors navigating a volatile landscape.
(TSX: AGI, NYSE: AGI)
Get to know Alamos Gold, a Canadian gold producer renowned for its sustainable practices and diversified North American operations.
(TSX.V: VCU, OTCQB: VCUFF)
Vizsla Copper is advancing its Wood Jam project in British Columbia, focusing on expanding its copper-gold resources and becoming a mid-tier copper producer.
??? This Week's Selected Company News:
CMI Financial Group Surpasses $1 Billion in Mortgage Assets Under Management
In September, CMI Financial Group announced it had exceeded $1 billion in mortgage assets under management. This milestone highlights CMI’s continued growth and its prominent role within Canada’s mortgage lending industry. Congratulations to CMI on this significant achievement!
Ivanhoe Electric and Red Sun Form Grid-Scale Battery Joint Venture
Ivanhoe Electric’s VRB Energy subsidiary and Red Sun Energy Co. have signed definitive agreements to form a new joint venture aimed at developing grid-scale vanadium flow battery systems in China. This collaboration aims to enhance China’s energy storage capacity and help the country meet its renewable energy goals. By utilizing VRB’s innovative energy storage technology, the partnership will address China’s growing demand for sustainable, large-scale battery solutions.