From Port Phillip Insider (Australia)-
Today’s Port Phillip Insider comes to you on a delayed broadcast from Melbourne Airport.
Hold the excitement if you can. Your editor’s normal contribution will be brief [Readers’ voice: praise the Lord!]. But it will be followed by an essay from Jim Rickards…which may not be brief [Readers’ voice: Lord help us!].
We’re about to begin our long journey to Baltimore, Maryland. We’re paying a visit to the head honchos at the ‘ranch’.
So, by the time you receive this delayed message, we hope to be somewhere over the Pacific. Hopefully, high over the Pacific.
We’ll report in as normal tomorrow. For now…
Overnight, the US Dow Jones Industrial Average closed up 78 points, or 0.44%.
The S&P 500 index closed higher by 11.18 points, or 0.54%.
In Europe, the Euro Stoxx 50 index ended the day down 51.51 points, or 1.83%. Meanwhile, the FTSE 100 index closed down 1.25%, and Germany’s DAX ended the day down by 1.67%.
In Asian markets, as we write, yes, it’s still too early. The markets haven’t opened. By the time you receive this, they will have closed. You can check the latest details in the Market Data section at the end of this letter.
On the commodities markets, early this morning, West Texas Intermediate crude oil was trading for US$47.82 per barrel. Brent crude was US$48.80 per barrel.
Gold is trading at US$1,369 (AU$1,820) per ounce. Silver is US$20.16 (AU$26.84) per ounce.
The Aussie dollar is worth 75.1 US cents.
Feel that grip