Another great week with lots of tradeable trends… In this Friday Five for January 25, 2019 we have the following highlights to get you out of your winter doldrums:
- Gold trades above $1300.
- Florida Governor DeSantis calls for recreational marijuana legalization.
- Drudge reports on deal to temporarily re-open US government.
- Super Bowl weekend coming up next week
- US Energy Storage Monitor estimates 2018 energy storage at 338 MW and growing 1000% in 2019
Gold prices surge above $1300
Gold is trading back above $1300 and futures are looking strong. The US Dollar also went down in value, which could certainly be part of the reason. There are any number of volatile situations to point to, such as the US political situation, Venezuela, and Chinese QE that could be driving Gold higher and higher in the coming weeks and months.
Florida Governor Ron DeSantis demands that ban on recreational cannabis be lifted
Florida’s marijuana industry has strong tailwinds, with bullish politicians such as Representative Matt Gaetz and Governor Ron DeSantis. Coming off Florida’s recent announcement that it was legalizing the medical marijuana flower those winds have become even stronger with Governor DeSantis demanding this week an end to the ban on smokable cannabis.
Temporary lift of government shutdown according to Drudge Report (update)
This morning Drudge Report reported that the President would be announcing a deal to re-open the government with no funds for the wall. While this could lead to a boost in some stocks, the effect may be muted as most of the President’s supporters seem to be abandoning him over this move, which could add further volatility and uncertainty as to what comes next in a very divided governing situation. Update: This has been confirmed by a Presidential address. The response from the President’s constituency has been swift and fierce.
Super Bowl 53 could bode well for related stocks
It was announced this week that NFL ratings for the 2018 season significantly surpassed the numbers for 2017 and 2016. Which bodes well for the upcoming Super Bowl 53. Stocks that could see a lift from that include Walt Disney, Anheuser-Busch Inbev, and Pepsico, all of which are official sponsors of the league.
US energy storage 338MW in 2018, expected to grow to 3.9GW in 2019
The US Energy Storage monitor released its Q4 2018 report that measured the US Energy Storage market at 338MW for 2018 and projects 1000% growth for 2019, all of which bodes well for cobalt mining stocks among others.