Tuesday 13 October 2020

Roaring Casinos. This Time It’s Different. La Nina.

Baltic Dry Index. 1807 -85  Brent Crude 41.79

Spot Gold 1912

Coronavirus Cases 13/10/20 World 37,880,134

Deaths 1,084,010

 

“October extinguished itself in a rush of howling winds and driving rain and November arrived, cold as frozen iron, with hard frosts every morning and icy drafts that bit at exposed hands and faces.”

J.K. Rowling.

In the stock casinos, it’s back to the roaring 20s, fueled by trillions of central bankster free money. Besides, no matter who wins the US elections, both parties are good for stocks! 

In the real economy, where most people work or used to, an increasing perception that “this time it’s different,” this time it’s a depression rather than a recession.

Plus, don’t look now but global coronavirus infections are about pass 38 million today. By year end we’re on target for 60+ million.

In following stock and commodity markets since 1968, this old dinosaur has never seen such a disconnected commercial world.

Nasdaq gains 296 points in best day since September as tech stocks surge

Oct. 12, 2020 / 5:02 PM

Oct. 12 (UPI) -- The Nasdaq Composite recorded its best day in a month on Monday as tech stocks helped to push the broader markets higher.

The tech-heavy index climbed 296.32 points, or 2.56%, its best day since Sept. 9, when it rose 2.7%. The Dow Jones Industrial Average also gained 250.62 points, or 0.88%, while the S&P 500 ended the day up 56.96 points, or 1.64%.

Apple stock led Monday's tech surge, gaining 6.37% ahead of the expected announcement of its first 5G iPhone, as Apple shares have historically outperformed the broader market following the launch of an iPhone.

Amazon also grew 4.75% Monday, Facebook gained 4.27%, Google's parent company, Alphabet, increased 3.58% and Microsoft rose 2.59%.

Monday's gains helped push the Nasdaq closer to exiting corrections territory -- defined as a 10% drop from a recent high -- as it hit 11,876.26 points, nearing a new record peak of more than 12,056.44.

The tech push helped markets rise Monday despite ongoing turbulence in negotiations over an additional round of COVID-19 stimulus before November's election.

Over the weekend, House Speaker Nancy Pelosi said that the White House's most recent $1.8 trillion proposal as "insufficient" while Treasury Secretary Steve Mnuchin and White House Chief of Staff Mark Meadows called for Congress to hold a separate vote on releasing unused Paycheck Protection Program funds.

https://www.upi.com/Top_News/US/2020/10/12/Nasdaq-gains-296-points-in-best-day-since-September-as-tech-stocks-surge/7491602533632/

Asian shares defy Wall St. gains as China rally cools

October 13, 2020

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