New week, same bounce. Stock futures point to fresh gains as investors grow optimistic that a bond rout is ending, and the Fed’s rate-hike plans will get pruned due to a global slowdown.
That brings us to a literal off-the-grid call of the day from Cornerstone Futures’ Brynne Kelly who warns the next black swan for markets could be failing power grids and electricity shortages. That is, until something big happens, like the freak 2021 winter storm in Texas that knocked the state’s lucrative energy companies offline, along with transportation, water distribution and telecoms.
And then there’s electric vehicles, of which there is expectations of immense growth, “a user segment of the power grid that is basically nonexistent at the moment,” she said. Shares of Epizyme EPZM rose 63% after French biotech Ipsen IPN announced a deal to acquire the U.S. oncology drugmaker for around $247 million.
Quick! Buy electric cars!