Joel Elconin, Co-Host of the Benzinga Pre-Market Prep Show takes a broad look at the US markets and shares what has him worried. These worries range from weakness in oil stocks, yield curve inversions, and the government now attacking the tech stocks. Even though the markets were at all time highs not too long ago the bearish argument is starting to build up steam.
Ed Moya, Senior Market Analyst at OANDA joins me to recap some of the weak earnings reports we saw today as well as the Department of Justice focusing on the big tech companies. Both of these events you would think should have market down significantly however the Fed put remains the largest influence on investors minds.
It was a big week for gold which closed at a 5 year high, right at $1,400. While gold was heading higher US markets also touched all time highs and the Dollar moved down. These moves were helped by the Fed statement mid-week and a continued dovish shift by the central banks around the world. I discuss all of these market moves in this hour as well as receive a comprehensive update from Auryn Resources.
I hope you all enjoy the show! Please keep in touch by emailing me at Fleck@kereport.com. Have a great weekend!
- Segment 1 – Marc Chandler, Managing Partner at Bannockburn Global ForEx shares his thoughts on the statements from both Jerome Powell and Mario Draghi, and looks ahead to market moving events next week and the G20.
- Segment 2 – Mike Larson, Editor of The Safe money Report weighs in on the Fed’s inability to create inflation and the what a rate cutting cycle will look like.
- Segment 3 – Allison Ostrander, Director of Risk Tolerance at Simpler Trading takes a look at some of the big name tech stocks and what the charts are telling her.
- Segment 4 – A full update on Auryn Resources from Executive Chairman Ivan Bebek. We discuss the Sombrero Project in Peru (including your permitting questions) and the drill program about to be started at Committee Bay in Nunavut. Click here to visit the Auryn Resources website.
Exclusive Company Updates This Week
- Cypress Development Corp – Updates On The PFS, Metallurgical Testing, and The Overall Lithium Market
Allison Ostrander, Director of Risk Tolerance at Simpler Trading joins me to look into the recent news regarding the major tech companies and Congress launching an antitrust investigation. Interestingly the drop on Monday brought the stocks right down to strong support on many of the charts. We refer to the charts of Facebook, Google, and Amazon to weigh in on if the selloff is done for now.
There was a lot to talk about today with Joel Elconin, Co-Host of the Benzinga Pre-Market Prep Show. We start off with the volatile big name tech stocks which got hit yesterday on the news that Congress is looking into them on antitrust allegations. However these stocks are getting bought back strong today. Next up is a discussion on Powell’s speech and now seeming to warm up to rate cuts sooner rather than later. Finally we look into gold and the nice start to June.
Click here to learn more about the Benzinga Trading Seminar. Remember the discount code of PMP15.
Joel Elconin, Co-Host of the Benzinga Pre-Market Prep Show joins me today for a general market recap. We talk a trading strategy for those short term traders. Also a look into the corporate debt situation and why it doesn’t matter right now. Finally a couple comments on the semi-conductor sector and Tesla selloff today.
Click here to learn more about the Benzinga Trading Summit in New York on June 20th. Or email Joel at firstname.lastname@example.org.
Allison Ostrander, Director of Risk Tolerance at Simpler Trading joins me to share her thoughts on a few select stocks. We start with Boeing that has been in the news a lot recently due to the issues with the 747 Max 8 airplane. The stock has taken a hit but recently bounced right off resistance. W then move in to the tech sector which also has been moving higher since late last year. Microsoft is back to all time highs but the other high fliers are still a little ways off.