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.
Click here to open a POEMS trading account
Disclaimer
This publication has been prepared solely for the information of the particular person to whom it was supplied by Phillip Capital Limited (“PhillipCapital”) AFSL 246827. This publication contains general securities advice. In preparing the advice, PhillipCapital has not taken into account the investment objectives, financial situation and particular needs of any particular person. Before making an investment decision on the basis of this advice, you need to consider, with or without the assistance of a securities adviser, whether the advice in this publication is appropriate in light of your particular investment needs, objectives and financial situation. PhillipCapital and its associates within the meaning of the Corporations Act may hold securities in the companies referred to in this publication. PhillipCapital believes that the advice and information herein is accurate and reliable, but no warranties of accuracy, reliability or completeness are given (except insofar as liability under any structure cannot be excluded). No responsibility for any errors or omissions or any negligence is accepted by PhillipCapital or any of its directors, employees or agents. This publication must not be distributed to retail investors outside of Australia.