Why IMU is a multi multi bagger, page-21206

European markets were largely flat overnight - and in the red.

The FTSE fell 2 points (.035%), the DAX fell 14 points (.084%) abd the CAC fell 2 points (.03%).

Despite geopolitical pressures and various company earnings reports, the main stress on markets is to do with monetary policy - mainly in the US.

Monetary policy is a sledgehammer - unlike IMU that seeks to cure cancer and preserve life, monetary police tends to kill off economies in order to cure the inflation ailment.

US Federal Reserve chief made comments that interest rates will not be brought down early, and this spooked all global markets.

"The danger of moving too soon is that the job’s not quite done, and that the really good readings we’ve had for the last six months somehow turn out not to be a true indicator of where inflation’s heading.
We don’t think that’s the case. But the prudent thing to do is to, is to just give it some time and see that the data continue to confirm that inflation is moving down to 2% in a sustainable way."

Jerome Powell also predicted that more small banks in the US will close or merge due to commercial real estate woes in the US.

In the US, the DOW fell 274 points (.71%), the NBI rose a single point (.02%), the NASDAQ Composite fell 31 points (.2%) and the Russell small cap index fell heavily by 25 points (1.3%).

The fall in the Russell index would indicate a more risk averse market.

The US Treasury 10 year bond yield rose to 4.17%

Oil prices rose - Brent crude at US$78.10 per barrel.

The gold price dropped to US$2,024 per oz.