Stock Market Today
Latest update: 03-08-2021 19:01
I constantly follow all the stock market news. I only post here the stock market news that really sets stock markets in motion.
Prices are really going up. The day started with news from China. There were reports that the Chinese government is now going to tackle online gaming. As a result, many tech stocks were under pressure today.
The earnings season is still in full swing. However, it gives little direction to the stock markets. They mostly went sideways today.
There was not much stock market news or economic news. We are clearly in the slack holiday season. Concerns about the economic recovery are increasing somewhat.
I read a report from the British Ipsos Moris. That was about the willingness to buy and travel of British citizens. There was a huge difference from last year. A year ago, after the lockdowns were lifted, the British were eager to do everything they could again.
This year, however, they are considerably more cautious. The same is visible in many European countries. It is therefore expected that the acceleration of economic growth will slow down as a result.
Producer prices in the eurozone were announced today over June. An increase of 1.4% on a monthly basis. However, 10.2% on an annual basis. That's big. It normally takes six months or more before we see higher producer prices reflected in the inflation figures.
The gold and silver price
This high inflation is a fact and there is growing evidence that inflation will remain high for a long time to come. Yet gold and silver are not rising yet. I think the high stock markets are playing tricks on gold and silver.
Those stock markets are making all time highs and then it seems that you have to go there with your money. Gold and silver are mainly going sideways this year and then that seems uninteresting dead trade.
At least for investors who make their investment decision solely on the basis of prices. Based on the fundamentals, you now have to go into gold, silver and mining stocks and out of the all-time highs. How will that end? In the end, the fundamentals always win.
Started the day weak but still managed to close with a profit. Not only at the AEX but at all stock exchanges it can be seen that the strength of last week is no longer there. The flow of money to the stock markets seems to be weakening.
The coming days will show whether this is really the case. Once that money flow from the leftover holiday budget has dried up, attention will again turn to the fundamentals.
The disappointing economic growth will then receive more attention. My expectation remains that a correction is imminent.
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