Experts say U.S. stocks are on track to mark their worst first half in more than 50 years. According to Dow Jones Market Data Group, the S&P 500 is down around 18% year-to-date, on track for its worst first half of any year since 1970 — the fifth-worst half performance on record. In other news, Brent Cook, Founder of Exploration Insights, says copper, nickel, and gold will be the best assets to own this year.

 

Fox Business/Suzanne O’Halloran
S&P 500 heads to worst first half since 1970s

Stocks are about to turn in the worst first half in fifty years when the second quarter wraps on Thursday as inflation sits at a 40-year high.

The S&P 500, the broadest measure of stocks, is down nearly 18% this year the worst since 1970, as tracked by Dow Jones Market Data Group. That makes 2022 the fifth-worst half performance on record.

Stocks are falling as the possibility of a recession rises.

“I think there is a very real risk of a recession, it is perhaps inevitable we do have an economic downturn before 2024,” said John Lonski, president of economic forecasting firm Thru the Cycle.

You can read the full article, here.

 

Kitco News
‘Copper, nickel, and gold’ have the best investment potential this year – Brent Cook

As we head into a ‘recapitulation’ stage for commodities, copper, nickel, and gold will be the best assets to own, said Brent Cook, Founder of Exploration Insights.

“I’m very certain that the copper price is going to do well,” he said. “Demand is way going to exceed supply. Nickel is the same. Gold looks good.”

Cook spoke with David Lin, Anchor and Producer at Kitco News, at the PDAC 2022 Convention in Toronto.

Copper, nickel, gold

Keep reading, here.

 

Yahoo News/Emily McCormick
Inflation will probably fall, but it won’t be the Fed’s doing: Morning Brief

The Federal Reserve is working hard to bring down inflation, raising interest rates at the fastest pace in nearly 30 years.

Recently, some analysts have begun to explore the idea that inflation may moderate in the coming months.

But this decline likely won’t be due to the efforts of the Powell Fed.

It “increasingly looks like markets mistook [the] ‘bullwhip’ effect of supply chain (including food) for secular inflation,” Tom Lee, Fundstrat’s head of research, wrote in a note Sunday.

The “bullwhip effect” describes, roughly, the tendency of businesses to over- or under-estimate the amount of inventory they will need relative to consumer demand, resulting in volatility in orders across the supply chain.

Continue reading, here.

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