Interest Rate Hikes And Stocks

Photo by Annie Spratt on Unsplash

After Fed Head Jerome Powell told the world that inflation will be corralled using interest rate hikes, I decided to go long both US and ADR shares. I also bought a lot more GLD ETF. I bought more Deere DE because its new tractor is not being viewed favorably in this country. 

My chief US rises were for golden oldies tipped by analysts today: General Electric GE and American Express AXP. I averaged down on Cameco, the Canadian energy firm, CCJ, after it fell, and on Algonquin Energy AQN. I bought more highly volatile UUUU.

As usual, I bought a lot of drug shares because that is my favorite sector. But I focused more today on large caps with global reach rather than riskier start-ups.

I gobbled up stock in Takeda TAK of Japan, Bristol Myers BMY of the USA, and Roche RHHBY of Switzerland.

This stuff takes time even with an online brokerage account. I have to watch the way prices move because this is often manipulated. So I test both a buy and a sell. As it is freezing out there I am not hopping over to my brokers.

The mother country is in an uproar because Prime Minister Boris Johnson appears to have violated covid-19 isolation rules a second time, in May of 2020 when he invited staff to bring their own booze and hang out in the tiny garden of his official residence. The Financial Times seems to think this will end his ministry.

Meanwhile, in faraway Australia, the rules on the virus have apparently been successfully violated by a Serbian tennis ace.

The message here is that all the drug companies racing out with new tests for omicron and new jabs to treat the disease are at risk because the quarantine has been undermined. The covid gold rush is over.

Now for the rest of the world:


*Abnormal flooding in northwest Brazil has blocked iron ore mining which resulted in a jump in the price of ore. Earlier it had fallen because of relatively restrained demand from China property companies last year.

*In Mexico, Citibank may sell its branch networks to Banco Santander, SAN.


*Weyerhaeuser was upgraded from hold to buy with a 0.461 consensus earnings rise for Q4 2021. WY.

*Nutrien's target price was also raised but it doesn't get a rating for some obscure reason. NTR.


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