We are just a week away from Trumps 1 August deadline for tariff negotiations to wrap up.
By the look of things at the moment the market seems confident deals can be done, and the economy will rebound nicely once uncertainty is out of the way.
US stocks are hitting new all-time highs on a daily basis and daily, weekly and monthly trends are pointing up.
Trump has put a rocket under the beaten up future facing metals sector and Callum and I have been pointing out many possible opportunities in that space over the last few months.
But despite the general bullishness there has been some weakness showing up in certain areas.
Banks in particular have seen some stiff selling pressure over the last few weeks with some of that money finding its way into the large resource stocks such as BHP Group [ASX:BHP], Rio Tinto [ASX:RIO], and Fortescue [ASX:FMG].
With Commonwealth Bank of Australia [ASX:CBA] so clearly overvalued, we must ask the question whether now is the time to short sell the stock. I answer that question in the Closing Bell video below.
I also have a look at the US Dollar Index [TSV:DXY] which is looking weak with potentially a lot more downside to come. That will put a rocket under commodities and the Aussie dollar.
We finish today’s session looking at various stocks in the future facing metals space that are powering ahead, with potentially a lot more upside to come.
If you have made some money on the ideas we have been sharing with you and enjoy the show please click on the ‘YouTube’ text in the bottom right of the video and when you are in the YouTube version of Closing Bell give us a ‘like’.
Regards,
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Murray Dawes,
Editor, Retirement Trader
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