Independent thinking for complex markets and current events
via Mike Shedlock: Refineries are closing due to environmental pressure. However, the public does not want EVs and the demand for diesel and jet fuel is on the rise. Refining Bottleneck Bloomberg reports A Crunch in Key Corner of Oil Market Leaves Consumers Vulnerable to Heat and War. Oil demand growth has outpaced the increase in …
by confoundedinterest17 Fridays are always fun in the market. Bitcoin is up 3.23% as The Fed took a pause yesterday. Note that bitcoin and gold are moving together since March 2023 as the US Dollar deteriorates. And expectations of Fed rate hikes (yellow dashed line) increases. As least Desperate Housewives star Eva Longoria knows better …
by confoundedinterest17 The Artificial intelligence (AI) boom is resulting in Nvidia’s stock soaring to 429.9. At the same time, Bitcoin (yellow), the US Dollar (blue) and Gold (gold) are declining. Of course, markets are dynamic and gold/silver are likely to start up again along with bitcoin and other cryptos.. The leading crypto today? Dogecoin! AI …