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2021/06/26

📝 The Cheat Sheet - June 26, 2021

 
Profit Trends

12.5% YTD

14% YTD

11.4% YTD

Dow Jones Industrial Average

S&P 500 Index

Nasdaq Composite

 
Las Vegas Sign

Las Vegas Tourism Will Help This Cannabis Superstore Soar

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Connecticut Map
 

Connecticut is the latest state to legalize recreational cannabis. On Tuesday, Gov. Ned Lamont signed a bill to legalize, tax and regulate cannabis for adults who are 21 and older. He said that sales will start in May 2022.

This comes seven years after the state legalized medical use in 2014. Now only two states in New England prohibit adult-use cannabis: Rhode Island and New Hampshire.

 

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Video - Matthew Carr

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Left Quote

There are clear signs that the economy is strengthening and consumers are remaining resilient. The U.S. is in store for the fastest economic growth since at least 1984.

Right Quote
 

- Matthew Carr
Chief Trends Strategist

 
 
Chart - Price of Copper per Metric Ton
 

Clean power and electric vehicles are driving copper demand higher. The copper deficit could reach 10 million metric tons annually if no more mines are opened.

Back on May 17, 2021, speculators drove copper prices to $10,500 per metric ton. As a result, China - which uses more than half of the world's copper produced every year - started dumping its copper inventory on the market to lower prices.

It was an effective strategy. And as of June 18, copper prices had dropped to $9,427 per metric ton.

But China's strategy won't work for much longer. Overall demand for copper just continues to increase...

Read more...

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