Lithium – Lithium stocks have surged again this week amidst strong sales of electric vehicles. Spodumene concentrate has risen from $US400 a tonne to US$2400 since August 2020. JP Morgan predict it will continue to rise to US$5000 in 2023.
Twitter – Twitters stock price surged more than 25% on Monday after news Elon Musk had bought a 9.2% stake in the social media platform. The investment makes musk Twitters top share holder. He has now been appointed to the board of Directors.
Interest Rates – The big four banks are now predicting a interest rate rise in June after the RBA meeting on Tuesday prompted revised forecasts. Westpac is tipping rates to hit 1.25% by end of year from the current records lows of 0.1%.
Berkshire Hathaway – Warren Buffets Berkshire Hathaway has purchased a $US4.2 billion stake in HP, causing a surge in the stock price roughly 17% on Thursday. This is a third multi billion dollar investment Berkshire have made in a month, the others being a take over of Alleghany and Occidental Petroleum.
Oil Release – US President Bident has ordered the release of 1 million barrels a day from the their Strategic Petroleum Reserve in an attempt to offset the loss of Russian Crude Oil, cut costs at the petrol pump and starve Russa of revenue. The release is the biggest withdrawal in 46 years, an indication that Biden anticipates a prolonged conflict in Ukraine.
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