The Morning Call
5/2/24
The
Market
Technical
Wednesday in the
charts.
More charts.
https://www.zerohedge.com/the-market-ear/massive-moves
Fundamental
Headlines
The
Economy
US
March construction spending fell 0.2% versus
forecasts of +0.3%.
The March JOLTS
(job openings) report showed total available jobs at 8.4 million versus projections
of 8.9 million.
https://www.calculatedriskblog.com/2024/05/bls-job-openings-decreased-to-85.html
The April manufacturing
PMI was 50.0 versus estimates of 49.9.
The April ISM
manufacturing index was 49.2 versus expectations of 50.0.
International
The April German
manufacturing PMI was 42.5 versus consensus of 42.2; the April EU manufacturing
PMI was 45.7 versus 45.6.
Other
March median household income.
https://politicalcalculations.blogspot.com/2024/05/median-household-income-in-march-2024.html
The
Fed
The FOMC wrapped
its latest meeting yesterday. Rates were left unchanged. The rhetoric in the official
statement was slightly more hawkish but the QT tapering was reduced more than anticipated
(in other words it was somewhat dovish). Cue the Market confusion. Here is the
redlined statement.
https://www.zerohedge.com/markets/fomc-15
The elections are making the Fed’s job
tougher.
https://www.nytimes.com/2024/05/01/business/economy/federal-reserve-presidential-election.html
Fiscal
Policy
How to think about debt.
https://collabfund.com/blog/how-i-think-about-debt/
Inflation
More signs of inflation.
Bottom line
Wednesday’s market
wrap.
Update on Q1
earnings.
https://sherwood.news/markets/stocks-earnings-q1-analyst-expectations/
Update on
valuations.
https://mrzepczynski.blogspot.com/2024/04/cash-is-king-again-and-stocks-are.html
Measuring
sentiment.
https://econbrowser.com/archives/2024/04/confidence-sentiment-and-news-in-april-some-time-series
News on Stocks in Our Portfolios
Paychex
(NASDAQ:PAYX) declares $0.98/share quarterly dividend, 10.1% increase from prior
dividend of $0.89.
UPS (NYSE:UPS) declares $1.63/share quarterly dividend, in line with
previous.
C.H.
Robinson Worldwide press release (NASDAQ:CHRW): Q1 Non-GAAP EPS of
$0.86 beats by $0.23.
Revenue
of $4.41B (-4.1% Y/Y) beats by $130M.
What
I am reading today
What
to do if you are getting audited.
The best foods to
eat to stave off arthritis.
What
foods you really need to eat to reduce inflammation (nationalgeographic.com)
Markets have to
clear.
https://www.fortunesandfrictions.com/post/queue-with-the-peasants
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for Survival’s website (http://investingforsurvival.com/home)
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