BN Daybreak Thurs 29 Jan: Meta, Tesla, ASML shine; Gold jumps another $300 to $5,500; Grantham’s Bubble Truth
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On this morning’s BizNews Daybreak, Alec Hogg unpacks a massive overnight shift in global markets:
The "Fear & Greed" Trade: Gold has surged $300 to a record $5,566/oz, pulling JSE miners like Harmony Gold (+10%) and Gold Fields (+8%) skyward. The FT’s Katie Martin and Rob Armstrong argue this isn't just a safety play—it’s a "heady cocktail" of fear, greed, and naked speculation.
The "Permabear" Warning: Legendary investor Jeremy Grantham reveals a "dirty trick" he played at a 1990s conference, proving that 99% of Wall Street professionals knew the Dotcom crash was inevitable but refused to say so publicly due to career risk.
Fed vs. Trump: The US Federal Reserve has held interest rates steady, with Chair Jay Powell firmly asserting the central bank's independence amid pressure from the Trump White House.
Tech Earnings: Big beats from Tesla, Meta, and ASML have steadied Wall Street, with Elon Musk doubling down on investments in xAI despite scepticism.
Currency Check: The Rand has strengthened significantly, starting today below R15.70/$ amidst the Dollar's continued wobble.
The "Fear & Greed" Trade: Gold has surged $300 to a record $5,566/oz, pulling JSE miners like Harmony Gold (+10%) and Gold Fields (+8%) skyward. The FT’s Katie Martin and Rob Armstrong argue this isn't just a safety play—it’s a "heady cocktail" of fear, greed, and naked speculation.
The "Permabear" Warning: Legendary investor Jeremy Grantham reveals a "dirty trick" he played at a 1990s conference, proving that 99% of Wall Street professionals knew the Dotcom crash was inevitable but refused to say so publicly due to career risk.
Fed vs. Trump: The US Federal Reserve has held interest rates steady, with Chair Jay Powell firmly asserting the central bank's independence amid pressure from the Trump White House.
Tech Earnings: Big beats from Tesla, Meta, and ASML have steadied Wall Street, with Elon Musk doubling down on investments in xAI despite scepticism.
Currency Check: The Rand has strengthened significantly, starting today below R15.70/$ amidst the Dollar's continued wobble.
