The past week saw a rollercoaster ride in the markets amid global tensions. Stocks whipsawed between gains and losses as investors grappled with conflicting economic signals.
The interplay of Middle East instability, inflation data, oil prices and bond market developments made for an eventful week of shifting market sentiment. While uncertainty remains high, some see reasons for cautious optimism if geopolitical and economic conditions stabilize.
Patient capital stays invested through the ups and downs. For companies building the future, temporary turmoil is just noise. Their eyes stay fixed on the horizon, here is a list of a few companies we believe are shaping the future.
LithiumBank Upsizing Of PP To $3M LithiumBank Resources Corp. boosts its private placement to $3M to expedite asset advancement in Canada, with significant insider participation for its Boardwalk project. | VERSES Engages Integrous VERSES AI Inc. collaborates with Integrous Communications to bolster investor relations, amidst strategic advancements in its Genius™ AI platform and efforts towards global AI standards. |
MCF Energy on Large Welchau Gas Prospect MCF Energy progresses with the permitting for its Welchau gas prospect in Austria, eyeing environmental clearance to kickstart drilling operations in Q4 2023, amidst a slight delay. | Volt Lithium on the road Volt Lithium Corp. gears up for two investor conferences in October 2023, with CEO Alex Wylie presenting the company’s vision of pioneering lithium production from oilfield brine in North America. |
Symbol | Company | Closing Price | % Gain |
---|---|---|---|
VERS | Verses AI | $1.43 | 15.32% |
VLT.V | Volt Lithium Corp | $0.30 | 1.69% |
LBNK.V | LithiumBank | $0.95 | -1.05% |
MCFNF | MCF Energy | $0.33 | 26.92% |
Oil Prices Surge Amid Middle East Conflict
- The outbreak of fighting between Israel and Hamas sent oil prices soaring.
- West Texas Intermediate jumped over 4% to top $86 per barrel.
- Fears grew that wider regional conflict could disrupt oil production.
- In response, defense and oil stocks rallied.
Inflation Data Stokes Rate Hike Concerns
- Key inflation reports heightened worries about Fed policy.
- September’s Consumer Price Index rose 0.4%, exceeding forecasts.
- This sparked concerns the Fed may hike rates more aggressively.
- Stocks dropped on inflation fears, with the Nasdaq and S&P 500 both down 0.6%.
Weak Demand at Bond Auction Rattles Investors
- An auction of 30-year Treasurys saw tepid foreign demand.
- This raised concerns about waning appetite amid heavy debt issuance.
- It could drive yields higher, lifting borrowing costs.
- Yields surged after the auction, with 30-year yields nearing 4.9%.
Falling Yields Boost Stocks
- On Tuesday, stocks rose as Treasury yields declined.
- This came as geopolitical tensions over Israel-Hamas eased.
- The Dow added 0.6%, the Nasdaq gained 0.4%, and the S&P 500 rose 0.6%.
The interplay of Middle East instability, inflation data, and bond market developments made for an eventful week of shifting market sentiment. While uncertainty remains high, some see reasons for cautious optimism if geopolitical and economic conditions stabilize.
Have a Great weekend and see you next week