OP: Markets Tumble on News of Capital Gains Tax Plan mrtopstep.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mrtopstep.com Daily Mail and Mail on Sunday newspapers.
Inflation is poised to regain influence on how cheaper U.S. stocks perform relative to shares of faster-growing companies, according to Morgan Stanley Wealth Management. The firm cited the ratio between the S&P 500 Pure Value and Pure Growth indexes, whose components best fit the categories of value and growth within the S&P 500, in a report Monday. Federal Reserve policy has broken down a traditional link between the ratio and the pace of inflation, the firm wrote, citing the breakeven rate for five-year Treasury securities. “We expect that fiscal policy will ultimately get the relationship back in place.”
Our View
OP: Stock Market Fatigue Continues mrtopstep.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mrtopstep.com Daily Mail and Mail on Sunday newspapers.
Chart of the Day
Copper (MAY)
Last week, copper looked like it was breaking out a wedge consolidation but China clamping down erased the break. Now it has taken a second run and broken the mid-March high.
At GMTT we went long Copper last Wednesday at 4.04 and our target of 4.23 is reached. Very short term we get the next target of 4.29, while a good close above confirms a move towards 4.46. We suggest raising the protective sell stop to 4.21.
On another note Gold (JUN) – long from 1726 – reached our given target of 1789 and its next upside target is 1806. We raised this morning the protective sell stop to 1774 – but Gold only elects a sell signal below 1759.
OP: Big Banks, Big Profits mrtopstep.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mrtopstep.com Daily Mail and Mail on Sunday newspapers.