‘Guy on Rocks’ is a Stockhead series looking at the significant happenings of the resources market each week. Former geologist and experienced stockbroker Guy Le Page, director and responsible executive at Perth-based financial services provider RM Corporate Finance, shares his high conviction views on the market and his “hot stocks to watch”. Market Ructions
Gold was up US$18 at one-point before settling at US$1,828/ounce for the week after abysmal non-farm payrolls that came in at 235,000 (consensus 720,000). Data for July and August however was revised upwards slightly while US unemployment fell from 5.4% (July) to 5.25% (August).
Wage inflation was up 0.60% in August from 0.40% recorded in July.
I wonder what Uncle Jerome is going to do now? Let me guess, print more greenbacks…? Other economic data out last week was also somewhat tepid with the Institute for Supply Management (ISM) non-manufacturing index returning 61.7% (consensus 61.9%) for […]
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