The Case for $3,000 Gold
More debt... more problems...
Wall Street's rally hit a speed bump this morning, with futures signaling caution ahead of a deluge of corporate earnings.
As 114 S&P 500 companies prepare to report, the market's charge toward 6,000 takes a momentary pause.
From defense contractors like Lockheed and Raytheon to tech giant Tesla, this week's earnings reports are expected to continue the trend of “easy beats.” So far, 79% of companies have exceeded expectations, aided by low analyst estimates.
Meanwhile, Treasury yields are increasing as analysts again eye 5% for 10-year notes due to fiscal spending concerns. Feels like we warned about this months ago…
With geopolitical tensions and election uncertainties looming, every headline, earnings report, and move higher for gold threatens to tip markets into a reality check.
Insider Buying:
Worst Buy/Sell Ratio of Insider Buying since February 2013
Top Purchase Friday: $42m of Sirius XM (SIRI) by Warren Buffett’s Berkshire Hathaway
Top Sell: $77m of Janux Therapeutics (JANX) by Ja…
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