Categories: General Market Commentary- DPC
Topics: General Market Commentary- DPC

A Wild First Week for the Markets

Since last week: 

To start the year off, the market has experienced a series of ups and downs. This is the sort of volatility that can be played to the advantage of smart investors. 

1. Bitcoin’s Wild Week

Bitcoin had an interesting start to 2024. Between Jim Cramer endorsing the cryptocurrency and one outlet spreading rumors that ETF approval would be denied, the price of Bitcoin experienced some shock and has been on a rollercoaster since. This illustrated the volatility of the coin, but also created an opportunity for investors to buy up more at a cheaper price. The catalysts for it to take off are still there. You can learn all about why it still has a bright future here. 

2. 40% and Rising

According to the US Energy Information Agency, 40% of electricity in the country is now emissions-free. The country has made strides in both nuclear power and renewables, and there’s still plenty of room to grow. As far as renewables go, you’ll want to buy the raw materials that make the technology possible. That means buying copper, which you can learn about by clicking here. 

3. Hedge Fund Yellowcake

Hedge funds know that the uranium bull is here and is only going to get stronger. That’s why they’re stockpiling uranium concentrate at a facility run by a firm that provides services to utility companies that run nuclear power plants. The price of the yellow metal has to go up in order to meet demand, and those hedge funds are placing their bets and getting ready to reap the profits. You can do the same by clicking here. 

4. Gold vs The Dollar

To start off the year, the dollar applied some pressure to gold, with gold prices slipping somewhat due to both a rising dollar index and uncertainty as to when Fed rate cuts will be coming. Still, it has steadied itself and is proving to be resilient in a strong sign for investors who hold it. Gold should be part of your portfolio, and this is the company you should be buying into. 

What to Look For:

Reports just came out that the number of jobs added in December exceeded expectations, showing the labor market’s strength. This may delay a decision from the Fed to cut rates.

Keep your eyes open,

Ryan Stancil
Editor, Daily Profit Cycle