“US oil reserves surpassed those of Saudi Arabia and Russia”, reported Financial Times. This again may have an effect on the price of crude which already hit record lows the last years. But there’s a chance that it will rise, so oil still might be a good investment.
On Monday, the rather important S&P500 index hit a new record high at 2137 point, so the panic that came after the Brexit referendum seems to have vanished. There are several local and global reasons that may have led to this, and we can expect a future of slow growth.
Asia is becoming a more important part of the global economy every day and that started to show in global wealth as well. We have seen new statistics lately describing how Asian wealth is growing but now a new research by Capgemini proved that Asia’s millionaires control more wealth than North Americans do.
The UK referendum surprised the markets and brought a fall on the stock exchange that we haven’t seen in a while. What’s more, it pushed the GBP into a 30-year depth. The fall seems even harder as the markets were optimistic on the week before the referendum. In the near future, uncertainty might be a part of the markets and politics but we don’t need to panic since markets will probably normalize and this might be a chance to get into investing.
Today is the day of UK’s EU referendum and that worries investors. This and other factors make them cautious and lead to a record high cash level at fund managements since 2001. Interestingly, at the same time analysts seem to be positive about the near future, but patience might be an important virtue in the next days.