Skip to content

News   /   Uncategorized

[Platinum Insights] (6.23.23)

[Platinum Insights] (6.23.23)
August 22, 2023

Good morning. 

US stock futures declined this morning after the major averages ended mixed during Thursday’s regular session, as investors continued to assess the economic and monetary policy outlook. 

In a testimony before Congress, Federal Reserve Chair Jerome Powell emphasized that FOMC members are currently in a broad consensus that interest rates must continue to rise. “The latest data aggravated fears about a potential recession, which has further dampened risk appetite,” a note from Deutsche Bank said. 

Treasury Secretary Janet Yellen said the odds of the U.S. tipping into a recession has come down and suggested a slowdown in consumer spending may be required to conclude the mission of reining-in inflation. 

Global equity funds suffered substantial outflows during the seven days to June 21 amid concerns over borrowing costs staying higher for longer as the European Central Bank raised interest rates and the Federal Reserve signaled more hikes. The U.S. and European equity funds witnessed outflows of $16.47 billion and $1.81 billion, respectively, while investors pumped about $2.6 billion into Asian funds. Meanwhile, global bond funds extended their inflows streak to a 14th straight week, with about $4.07 billion flowing in. 

S&P Global’s Purchasing Managers’ Index for both U.S. manufacturing and services activity will be on investors’ radar later in the day and will provide more clues on the strength of the economy. Investors will also monitor comments from St. Louis Fed President James Bullard, Atlanta Fed President Raphael Bostic and Cleveland Fed’s Loretta Mester. 

WTI crude futures fell below $69 per barrel. Gold held near $1,910 an ounce while the yield on the US 10-year Treasury note was trading around 3.8%. 

See you later today on the Platinum ZOOM call at 11:30 AM central time! Have a great weekend

Share this article:

More in Uncategorized:

Best of US Investors

The Looming Global Debt Crisis: A Ticking Time Bomb

The world is facing an unprecedented debt crisis, with global government debt reaching a staggering $315 trillion in the first...

Trent Grinkmeyer in front of stock market with bull background

Trent Grinkmeyer
June 11, 2024

Best of US Investors

A Safe Way to Invest in Cannabis with Innovative Industrial Properties

The U.S. cannabis industry remains highly fragmented and risky, but there is one outlier that provides investors with a relatively...

Trent Grinkmeyer in front of stock market with bull background

Trent Grinkmeyer
May 17, 2024

Best of US Investors

7 Stocks With Cosmic Potential - Finding the Next "Moonshot" Investments

May 16, 2024 By Kerry Grinkmeyer There are only two main ways to make big money in the stock market....

[Platinum Insights] (6.23.23)
May 16, 2024

Best of US Investors

Unveiling the Future with Emily Leproust and Twist Biosciences

In a world grappling with environmental challenges and the relentless pursuit of longevity, a visionary figure has emerged – Emily...

Kerry Grinkmeyer in a suit standing in front of a stock chart with a bull on it

Kerry Grinkmeyer
May 15, 2024

Best of US Investors

Uncovering Explosive Growth Potential: The Case for Navitas Semiconductor (NVTS)

As investors, we’re constantly on the hunt for opportunities that offer substantial upside potential. In the ever-evolving world of semiconductors,...

Kerry Grinkmeyer in a suit standing in front of a stock chart with a bull on it

Kerry Grinkmeyer
May 15, 2024

Best of US Investors

Are We Headed for Stagflation? Examining the Economic Warning Signs

The latest economic data continues to show stubbornly high inflation, with the Producer Price Index (PPI) up again in April...

Trent Grinkmeyer in front of stock market with bull background

Trent Grinkmeyer
May 14, 2024

Register for the Best of US Investors Newsletter

Get daily financial news delivered to your inbox. Join today.

©2024 Best of US Investors. All rights reserved.

Site by KMA

Disclaimer

This Best of US Investors website is not and should not be considered investment advice. This Best of US Investors website is for informational purposes only. Nothing on this Best of US Investors website constitutes a recommendation to buy, sell or hold any security at any time. Always consult with a financial professional that is familiar with your specific situation before making any investment or trade.

Use of this Best of US Investors website is at your own risk. Best of US Investors makes no warranties about the accuracy, completeness or reliability of any content on this Best of US Investors website.

All the information on this Best of US Investors website is provided “AS IS”. Do not rely on any statements made on this Best of US Investors website.

In no event shall Best of US Investors be responsible or liable for any damage that occurs while using or reading any content on this Best of US Investors website.

Best of US Investors may have a position (long, short or neutral) in any security mentioned on this Best of US Investors website and therefore may realize significant gains in the event that the price of the security mentioned on this Best of US Investors website declines or appreciates.

Best of US Investors may buy and/or sell any security mentioned on this Twitter account at any time and for any reason. I may trade contrary or different to the information provided on this Best of US Investors website. You should assume that any email or post on this Best of US Investors website may cause the price of the security mentioned to appreciate or decline in a dramatic way.

Best of US Investors may continue to transact in any security mentioned on this Best of US Investors website an indefinite period of time after any email or post and such positions may be long, short or neutral at any time hereafter regardless of the initial view or positions stated on this Best of US Investors website.

In no event shall Best of US Investors be liable for any claims, losses, costs or damages of any kind including direct, indirect, punitive, exemplary, incidental, special or consequential damages, arising out of or in any way connected with any information presented on this Best of US Investors website. This limitation of liability applies regardless of any negligence or gross negligence of Best of US Investors or any company affiliated with Best of US Investors. You accept all risks in relying on the information presented on this Best of US Investors website.

If any statement in this legal disclaimer is held to be invalid or unenforceable, then the remaining provisions shall continue in full force and effect.

For more information, contact [email protected] .