Yesterday, the Federal Reserve released an FOMC edict and it’s Chairman, Jerome Powell, gave a press conference. The end result is that they basically promised a rate cut not only in September, but even set the stage for more to come after that!

Markets rallied on that news, and on CNBC, which is what I was watching, talking head, after talking head, came on talking about the necessity for more rate cuts and expected the stock market to completely explode as they come out.

This is exactly what was needed before the November election and stocks went up and so did ETF’s.

Democrats must be happy, because, by the end of the day, the betting odds on Predictit.org of a Trump win fell by 2% and are now near even.

Who knows what this will look like in October.

Don’t let politics influence your investing and trading.

Gold, went up 1.81% and silver rose 2.17%, to beat the 1.63% gain in the S&P 500, while Bitcoin actually went down, making people “HODLING” it missing out on the gains in everything else.

Stocks, which represent ownership in real world companies, are superior investments than virtual currencies that represent ownership in nothing.

Would you rather own a real home or a virtual home?

I want to point out to you, though, that bond funds went up.

Take a look at the LQD ETF, in the chart above, which is the corporate bond ETF.

Bonds go up in value when their yields go down.

TLT and JNK bond ETF’s went up too.

I believe now is a good time to lock in current yields before the rate cuts come, because once they do money markets will pay less.

If you buy a CD now or a bond, you can get locked in current yields, before those rate cuts.

It’s smart to do this now.

BTW - the Bank of Japan RAISED interest rates yesterday.

The Japanese yen went up in value 2.29% against the US dollar.

No “AI” was used to write this email or edit it.

And…..

NEM closed yesterday at a new high for the year.

I own NEM stock and talked about it last week before it reported earnings, which completely smashed analyst estimates.

These are the type of earnings that gurus promise big tech companies to one day make with “AI.”

The difference is mining companies are doing it now for real, while paying dividends. This is what higher gold prices are doing for mining companies.

Gold miner KGC reported earnings after the close yesterday and also posted nice revenue growth. The stock popped 1.21% on the news in after hours trading.

Miner IMPUY went up 5.39% yesterday too.

I own NEM, KGC, and IMPUY.

If you have not yet upgraded to WSW Pro now is a good time to do it.

Just click here:

https://wallstreetwindow.beehiiv.com/upgrade

-Mike

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