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The charts that matter: Amazon hits a bump in the road
Amazon shares slid back this week despite results surprising to the upside. Here’s what happened to the charts that matter most to the global economy.
This week’s magazine focuses on Big Tech. The speed at which it has taken over our lives is astonishing, and the amount of data we willingly hand over to the world’s biggest companies defies belief. Sure, we’re getting some fantastically convenient technology in return, but, if you stop to think about it for a little while, the power we’ve relinquished over our lives is quite frightening. Our every move –almost our every thought –can be taken down and may be used in evidence against us. Dominic Frisby takes a look at just what’s possible and asks if Big Tech is morphing into Big Brother. Of course, all this is very profitable, and Dominic also picks some of the sector’s best stocks for your consideration.
In the podcast this week, Merryn talks to Gabrielle Boyle, manager of the Trojan Global Equity fund. Gabrielle explains her investment philosophy, why sustainability and diversity make good business sense, and makes a plea for more women to enter the fund management business. Listen to what she has to say here.
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Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.
Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.
This week’s “Too Embarrassed To Ask” video takes a look at Ponzi schemes, perhaps the best-known of the many financial scams people seem to get into, and explains what they are and how they work. Watch that here.
Gold perked up again, continuing its rally after early March’s low.
(Image credit: Gold price chart)
(Gold: three months)
The US dollar index (DXY – a measure of the strength of the dollar against a basket of the currencies of its major trading partners) bounced a little after its recent falls.
(Image credit: US dollar index chart)
(DXY: three months)
The Chinese yuan (or renminbi) seemed to be treading water against the US dollar (when the red line is rising, the dollar is strengthening while the yuan is weakening).
(Image credit: USD/CNY currency chart)
(Chinese yuan to the US dollar: since 25 Jun 2019)
The downward drift in the yield on the ten-year US government bond resumed.
(Image credit: US Treasury bond yield chart)
(Ten-year US Treasury yield: three months)
The yield on the Japanese ten-year bond also resumed its decline.
(Image credit: Japanese government bond yield chart)
(Ten-year Japanese government bond yield: three months)
The yield on the ten-year German Bund, found the approach to zero a little too rich for its liking, and dropped back.
(Image credit: German Bund yield chart)
(Ten-year Bund yield: three months)
There was no stopping Copper’s resumption of its bull market, something that’s likely to continue, as Dominic explained on Tuesday.
(Image credit: Copper price chart)
(Copper: nine months)
The closely-related Aussie dollar hasn’t followed the red metal up quite so strongly, however.
(Image credit: AUD/USD currency chart)
(Aussie dollar vs US dollar exchange rate: three months)
Cryptocurrency bitcoin trod water, in contrast to ether, the second-biggest cryptocurrency, which hit an all time high, as Saloni wrote about this week.
(Image credit: Bitcoin price chart)
(Bitcoin: three months)
US weekly initial jobless claims continued their decline – down 92,000 to 498,000, compared to 590,000 last week (revised up from 553,000). It’s the lowest number of claims since March 2020. The four-week moving average fell to 560,000, down 61,000 from 621,000 (which was revised down from 611,750) the week before.
(Image credit: US weekly jobless claims)
(US initial jobless claims, four-week moving average: since Jan 2020)
The oil price continued to climb.
(Image credit: Brent crude oil price chart)
(Brent crude oil: three months)
Amazon hit its highest price for six months or so, but then sold off sharply, despite posting better than expected results. A blip, or a re-start of the “great rotation” out of growth and back to value?
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