Crude Oil Futures
Crude Oil futures are trading at $73.50 after the U.S. warned Houthi militants against attacks in the Red Sea and OPEC pledged unity to support market stability.
We remain buyers of oil-related trades.
QBE: Trade Table Holding
QBE Insurance Group was added to the ASX200 Trade Table on the 19/12.
S&P500 Futures
The S&P500 futures are trading below the 10-day average, following last Thursday’s pre-alert red arrow. Place the stop loss on a reversal above 4828.
Iluka
Iluka Resources is added to our watchlist and we’ll revisit this one later in the week.
S&P500 Magnificent Seven
The biggest contributors to the S&P 500’s banner year have been the usual suspects, currently dubbed the Magnificent Seven, which are Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia and Tesla. This group is up 75% in 2023, while the remaining 493 companies in the S&P 500 are about 12% higher.
S&P500 PE Valuation
S&P500 PE valuation excluding the magnificent 7 is trading at the long-term average of 16x, suggesting that most of the market is at fair value.
Crude Oil Futures
Crude Oil futures are trading at $71.50
Boss Energy
Boss Energy is producing uranium, and therefore can take advantage of the current high price. Uranium prices have doubled in 2023 and are now trading at 15-year highs of US$87/lb.
Domain
Crude Oil ETF
BetaShares Crude Oil Index ETF-Currency Hedged
Oil prices rose as tankers shun the Red Sea on the back of heightened attacks by Iran-backed Houthi militants which have disrupted international shipping routes.
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