Market Talk – May 9, 2024
ASIA: The major Asian stock markets had a mixed day today: NIKKEI 225 decreased 128.39 points or -0.34% to 38,073.98 Shanghai increased 25.84 points or 0.83% to 3,154.32 Hang [...]
Kilauea jolted the Island with a 5.4 magnitude Earthquake & Ash reaching 10,000 feet above sea level
COMMENT: Mr. Armstrong; It is really getting bad here in Hawaii. Thank you for your writings on volcanos. It helped me convince my family to move to another island. There was a very loud explosion. That was simultaneous with a fairly large earthquake here we felt everywhere. It really keeps getting worse.
Thank you
REPLY: Yes, it was a 5.4 quake which is something you will feel in the entire region. The ash reached 10,000 feet high. No, it is not over yet. Because of the type of this volcano sitting on top of a hot spot, it is strikingly different than most. The sudden eruption throwing ash now into the sky is concerning for this has been a volcano that continuously has had activity. It is now in a phase of higher volatility from a cyclical perspective.
Once again, the more volcanic activity that erupts from 2018 onward will cool the climate and set the tone for the commodity rally into 2024 that our model is projecting.
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