Gold and Copper Look Well-Positioned in 2023
Retail demand for bars and coins in the U.S. and Europe hit a new annual record last year in response to stubbornly high inflation and the war in Ukraine. Western investors gobbled up 427 tons (approximately 15 million ounces), the most since 2011.
S&P 500 Snapshot: Ends Week Up 1.62% Despite Friday Fall
The S&P 500 reached it's highest close year to date on Thursday and finished this week up 1.62% from last week, despite Friday's fall. The index is up 7.73% YTD and is 13.76% below its record close.
ISM Services Bounces Back in January
The Institute of Supply Management (ISM) has now released its January services purchasing managers' index (PMI). The headline composite index is at 55.2 percent and is up 5.6 from 49.6 last month. Today's number came in almost 5 percentage points above the Investing.com forecast of 50.4 percent.
January Employment: 517K New Jobs, Crushes Forecast
This morning's employment report for January showed a 517K increase in total nonfarm payrolls, which far exceeded the Investing.com forecast of 185K jobs added. The unemployment rate ticked down to 3.4%.
Intel's Planned US Chip Plant Has Bankers Looking for Similar Deals
Brookfield Infrastructure Partners LP’s $15 billion commitment last year to help finance Intel Corp.’s giant new semiconductor complex in Arizona, the first deal of its kind, sent investors and bankers racing to find similar opportunities.
Market Cap to GDP: Buffett Valuation Indicator
With the Q4 GDP advance estimate and the January close data, we now have an updated look at the popular "Buffett indicator" -- the ratio of corporate equities to GDP. The current reading is 140.1%, down from 146.7% the previous quarter.