The producer price index is what producers are paying for raw materials in the US. Last night the PPI showed a dramatic fall meaning - no demand for raw materials. That's possibly the reason why the metals and mining index (including BHP) has gone a bit limp.
On Thursday night unemployment and the Philadelphia Fed Survey is released. If these figures indicate a worsening economy we could be in for a significant correction.
So I'm remaining on the sideline for now.
no demand driving prices down
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Last
$44.39 |
Change
-0.380(0.85%) |
Mkt cap ! $225.1B | |||
| Open | High | Low | Value | Volume |
| $44.52 | $44.68 | $44.21 | $228.3M | 5.147M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 93 | $44.38 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $44.40 | 13049 | 4 |
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| Last trade - 16.10pm 05/07/2024 (20 minute delay) ? |
| BHP (ASX) Chart |