The world’s 500 richest people increased their fortunes by 30% during 2021. These billionaires added approximately $ 1 trillion to their wealth.
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rssApple valuation Apple valuation in 1977: in 2022: $3 million $3 trillion
China cash liquidity demand estimated above US$700bn in January, up around 20% from 2021
Bloomberg with the estimate of demand for cash liquidity during the month. Citing a “wall of maturing debt” and an expected seasonal demand for cash.
- Demand for liquidity may total about 4.5 trillion yuan ($708 billion) in January, 18% more than the amount seen last year
- An increase in the amount of policy loans coming due and demand for cash to be spent during the Lunar New Year, which takes place earlier in 2022, are drivers.
Chinese New Year in 2022 is February 1. Extended holidays in China will be January 31 to February 6, inclusive.
2022 is Year of the Tiger.
Opec+ ministers meet today, Tuesday 04 January 2022
Which is keeping the 400K output boost expectation on the simmer. OPEC+ has previously announced this plan and it seems unlikely to deviate at this meeting.
S&P and Dow industrial average close at a record highs to start the trading year S&P index falls just short of record closing levels
The major stock indices all posted gains in trading today, with the S&P and Dow industrial average both closing at a new record highs to start the trading year.
- The NASDAQ index closed higher for the first time in five sessions
- Dow closed above its previous record close at 36488.64. Its hi price today was short of the all-time intraday high of 36679.44
- S&P index closed above its record high 4793.05. The high today was short of all time record high at 4808.93
Energy lead the way with a 3.1% gain followed by consumer discretionary is at 2.9%. Financials rose by 1.2% and technology rose 0.9%.
Apple topped 3 trillion in market capitalization today but backed off below that level at the close.
The final numbers are showing:
- Dow industrial average rose 246.76 points or 0.68% at 36585.07
- S&P index rose 30.38 points or 0.64% at 4796.57. Its hi price reached 4796.64
- NASDAQ index rose 187.83 points or 1.2% at 15832.80.
- Russell 2000 rose 27.24 points or 1.21% at 2272.55.
Thought For A Day
Natural gas prices in Europe fell for a ninth straight day in the longest streak of losses in seven years (!) due in part to a jump in LNG deliveries
Global LNG exports surged to a record last month as projects boosted output, according to ship data bloomberg.com/news/articles/
In 1998, Yahoo turned down a chance to buy Google for $1 million. Today, Google is worth $1.9 trillion.
Billionaires are selling their shares.
SNB total sight deposits w.e. 31 December CHF 722.8 bn vs CHF 722.3 bn prior
- Domestic sight deposits CHF 648.9 bn vs CHF 650.0 bn prior
Prior week’s release can be found here. Little change in terms of overall sight deposits in the past week but the overall trend remains clear that the SNB is continuing to intervene to limit franc strength. Their balance sheet remains bloated and will continue to keep that way in 2022 surely.