In an era of uncertainty for price lists, financial analysts apply themselves to art. Today, just a few hours after the publication of the Netflix accounts, analyzes on the effect of Korean are wasted "Squid Games” (135 million viewers in 90 countries in the first twenty days of programming) on the accounts of the leading streaming platform. Calculation is not simple, because it involves putting together the numbers of new subscriptions, the loyalty of old subscribers and the duration of the listening, naturally after having subtracted all the costs. The result gives $891 million of more value for Netflix since September 17 when the Korean soft power phenomenon exploded. Since then, even before the math, Netflix stock is up 7%. Not bad if you think that in mid-September the reports underlined the risk that the platform, once out of the lockdown, would face a downturn.
In short, it is easy to make mistakes in a phase of difficult market to understand: inflation is rising, even the central banks admit that the "temporary" nature of the increases will last longer than expected. But it is not easy to run for cover. And so, despite the periodic warnings against speculative excesses, the Chinese real estate crisis, the slowdown in growth in Asia or in a large part of the USA or the disasters of the logistics supply chain, one week after the tapering anticipated by the Fed, the markets have not abandoned the bags. But is it the right solution?
– the index MSCI World based on all markets on the planet, is one step away from new absolute record after four consecutive days of growth, of 0,15%, thanks above all to the contribution of American techs. Only one percentage point, in the middle of the session, separates the index from the historical record set at the beginning of September.
The Stoxx Energy index on Tuesday also supported the rally on opening new highs since February 2020 and that of US banks, both slowing towards the end of the session. Many are predicting an adjustment in prices, but at least two factors make a real slowdown difficult: the Chinese "hunger" for energy, amplified by the approach of winter and the almost desperate situation of electricity in the industrial north; OPEC+'s difficulty in increasing production. The lack of investments in some countries, such as Nigeria and Angola, weighs so much that the goal of increasing production by 400 barrels per day, as planned, has remained on paper.
On the other hand, commodities, among the great protagonists of the surge in prices (seven positive weeks in a row), experienced a temporary slowdown. Continue there volatility of natural gas, Tuesday up and down 30% based on news coming out of Russia. But there will certainly be surprises.
In great evidence above all the technological stocks both in the USA and in Europe. But new mold solutions should not be overlooked. There technology rush, with software in the lead, is pushing the Indian Stock Exchange to continuous all-time highs.
Finally, great anticipation for the debut at the Nyse of the first ETF (passively managed investment fund) on bitcoin futures, now one step away from the April record. This was communicated by ProShares, the company that managed to obtain the green light from the US stock market authority, which in the last four years had rejected the launch of at least ten ETFs, under the direction of Jay Clayton. In August, the new director Gary Gensler had instead opened up the possibility of investment vehicles of this type. It could be the occasion for a new upswing.
Finally, thegold. Optimistic comments are starting to appear because a higher global inflation rate should help it in the long run. But, so far, the world of finance has favored the cryptocurrency solution.
