Yellen... see what a nice glass of red wine does for morale?
Janet Yellen, you little beauty…………..
You finally listened to us…..
See what a nice glass of red with your pasta, over a meal with your family does for morale?
· Dow Jones +163 points
· SP500 + 1.09%
· Canada’s stocks jump the most in 11 weeks
· Crude oil +0.32%
· Gold +1.49% ($13/oz)
· SPI +33 points, signalling a positive day ahead
Yes, the Fed last night “hinted” a December rate hike, however, here’s a question….
When was the last time the fed actually raised rates in an election year???
The central bank’s so-called “dot plot”, which it uses to signal its outlook for the path of interest rates, showed that officials expected one quarter-point rate increase this year.
Policy makers see two rate hikes next year, down from their June median projection of three.
As we’ve been saying, this is positive for commodities such as Gold, Oil, Copper, Zinc and base metals so we are looking to increase our exposure here, as the Fed pushes back its expectations….
In Oz, we should have a good day today, driven by banks and infrastructure stocks will also get a boost.
NUF came out with a strong headline result in yesterday’s earnings and this strong “positive earning’s surprise”, should see some further upside in today’s trading session.
The SPI is up 33 points this morning
Niv Dagan is an Executive Director of Melbourne based boutique funds management and corporate advisory firm, Peak Asset Management (www.peakassetmanagement.com.au). He is also a regular financial commentator on Sky Business