The graphite sourcing deal will support Ultium Cells LLC, GM's battery manufacturing joint venture with LG Energy Solution, and may also extend to other GM ventures.
I have about 20% cash and I'm looking forward to seeing the PMO index reach all the way down to the bottom of its range so that I can redeploy cash by taking advantage of price dips that represent buying opportunities.
The SPX index hit a new all-time high on Thursday, but it then closed well off its high. The breakout wasn't the best, and combined with the nervousness about the election, I think the market will continue to be difficult until the end of October.
Last week, I thought for sure that the market would need more time near the recent lows before it could move higher. However, prices are now pushing up towards all-time highs once again.
Rising consumer sentiment bodes well for household spending in the coming months. Investors can tap the encouraging trend in the basket form through consumer discretionary ETFs.
A short-term uptrend began on Thursday, Aug. 8. The uptrend was led higher by technology stocks. Now, after a strong move higher, it is probably a bit late to buy technology stocks, but the opportunity is still there for the rest of the market.
The major indexes are pushing higher and higher, but the majority of stocks are not participating. My theory is that this condition exists because of the inverted yield curve, but who really cares why?
Stocks continued their impressive 2023 rally through July, buoyed by rapidly falling inflation, steady GDP and earnings growth, improving consumer and investor sentiment, and a fear of missing out.
While the cap-weighted indexes have surged to new highs as recently as early September, the equal-weight and small-cap indexes have been trading sideways since March.
