My prediction that gold will rise in 2022 is looking good because it started the year up and rose fractionally again today to $1813.15. My reasoning is based on history. When US Treasury yields rise so does gold. The 10-year T-bond yield gained 0.13%Jan. 3.
London stocks finished their first day in 2022 nicely up thanks to hopes that the Omicron variant will not be as severe as prior Covid-19. Travel shares were particularly strong. This should play out in the USA as well. although the rise in sterling, up nearly 0.5%, will cut the US gain somewhat.
Finance
*According to Asia Times, central banks have loaded up on gold to reach a 31 year high.
*Our Lazard was boosted from hold to buy with a higher target price up $1.48. LAZ.
*American Express was upgraded to buy from hold with a target price up $1.80. AmEx rose 2.75%.AXP.
*Banco Santander gained 1.8% today. SAN.
*State St Bank rose 3.94%. STT.
*Bank of America also rose. BAC.
Pharma
*One way Covid will become less harmful has been discovered in Israel, which now has decent relations with some OPEC countries after 4th jabs were given in a trial. No 4 boosts the antibody level 5-fold according to Israeli officials. As a result of the Israeli news, many drug stocks have fallen since their outlook is no longer likely to as great because of covid-19 needs, and estimates were lowered.
*The exceptions were Pfizer and BioNTech because their vaccine for kids was backed by the CDC.
*And TBPH Theravance of the Cayman Islands which rose 11.1%. I have no idea why.
*TEVA gained because it will be presenting at a Morgan Stanley conference.
*Worst hit was VIR, which fell over 6%.
Industrials
*Chinese crackdowns on tech stocks and thought control against Hong Kong media led to a selloff in PRC shares like Alibaba and Tencent. This boosted other tech.
*Tesla opened a showroom in Xinjiang despite human rights violations there for which it was criticized.
*The US Navy will pay $154 mn to BAE Systems of Britain for an integration service, whatever that may be. BAESY.
*NIO fell 4.42% after it was down-rated by Investors Observer to a much lower rating of 37 on a scale of 100.
*IBM gained 2.15%.
*Vodafone gained 2.27%. VOD.
*Deere rose 4.14%. DE.
*GE is up 3.23%.
Oilpatch
*Another riser is oil thanks to Opec opting to boost output as covid cases fall.
*Schlumberger Ltd. gained 3.64% today in European trading. SLB.
*Shell rose 3.07%. RDS-B.
*My best stock today was US energy play CTRA, up 4.7% after its creation by merger.
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