US close.20 Mar 2026 06:47
The BOE held rates at 3•75% as expected. Given how global mrkts might react to a raise which most thought highly unlikely its not surprising. Yet mrkts were unconvinced the Fed is on top of the economic shocks expected down the road should the Iran war drag on despite Trump telling the Japanese President the war will end soon. Considering Irans Army, Navy & Airforce have been wiped out so said Trump, they seem to be doing remarkably well.
Futures called the Dow 400 points lower at this afternoon's open as investors continue to desert mrkts for safer havens. That poses the question is this a must buy opportunity for brave investors or a swerve to the sidelines?
That's the usual "should I" "shouldn't I" .....problem all investors face at one time or another. Having been lucky enough to buy MSi at tuppence halfpenny i'm not that bothered though i would def sit on the sidelines at current levels given the yo-yo's in mrkts.
In the event of a mrkt meltdown and MSi at sub 800p im staying out unless the Dow slumps below 30,000 last seen in 2020 when 'sleepy Joe' was first elected during the covid crisis. I pray that does not come to pass. But I have some ammo ready just in case.
Meanwhile we have shuttered our oil reserves in the North sea to pay more to foreign suppliers, thats surely plain lunacy? In the next decade we will be paying more for our oil and gas unless we start to 'drill baby drill' now. This crisis could overpower any country unable to survive an economic catastrophe with horrendous consequences for their populace. That's very much a 'doomsday' scenario but there have been previous! Still, look at this way I can still go and lie on a desert island tomorrow so its not all bad in the world.....
Back in the mrkts the Dow has traded flat after an initial 200 point fall to the days low of 45,760 before bottom fishers decided bargains were there to be had. At the mid'break the Dow was trading only 32 lower due in part to 'hedging' activity from mrkt professionals limiting the damage.
On the big board 11/30 stocks were ahead led by Cisco, Chevron and GS. In the red Boeing, P&G and 3MCo saw sellers dominate the days action. Stocks under pressure inc Visa, Sea, Gartner & Micron Tech over concerns the tech sector cannot single-handedly support mrkt highs in the face of inflationary worries and geo political risks. By the close the Dow resumed its downpath ending off 204 at 46,021 some 4% down ytd.
I'll end on a bit of good news, the US comedy institution 'Sat Night Live' re-launches this weekend on Sky & NOW. Regrettably not on a terrestrial channel which will limit it's reach. As I refuse to pay the 'Dirty Digger' for his ad infested Sky Channels its a series i will have to live without. No doubt it will turn up one day on Netflix.
Wk 12.
US close.
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Issues 2835
Advances 1179
Declines 1572
U/c 84
NH 79
NL 175
T/vol (tn) 1•40
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