The Morning Call--Optimism remains high

 

The Morning Call

 

1/21/21

 

The Market

         

    Technical

 

            Wednesday in the charts.

            https://www.zerohedge.com/markets/bullion-bonds-big-tech-bid-bitcoin-bust-bidens-big-day

 

            Optimism remains high.

            https://allstarcharts.com/sentiment-report-1-19-20/

 

For the gold bulls.

https://www.zerohedge.com/markets/lytikainen-gold-bull-market-just-getting-started

 

Wither bitcoin?

https://www.zerohedge.com/the-market-ear/cwcwmnigpu

 

    Fundamental

 

       Headlines

 

              The Economy

 

                        US

 

                          Weekly jobless claims rose 900,000 versus estimates of 910,000.

                          https://www.zerohedge.com/markets/900000-americans-filed-first-time-jobless-benefits-last-week

 

                          Month to date retail chain store sales fell less than in the prior week.

 

December housing starts rose 5.8% versus consensus of slightly down; building permits were up 4.5% versus slightly down.

                          https://www.zerohedge.com/personal-finance/rental-exodus-sparks-surge-single-family-housing-starts-permits

 

                          The January housing index came in at 83 versus predictions of 86.

                          https://www.advisorperspectives.com/dshort/updates/2021/01/20/nahb-housing-market-index-drop-in-december-builder-sentiment-still-high

 

The January Philadelphia Fed manufacturing index came in at 26.5 versus projections of 12.0.

 

                        International

 

The December Japanese trade balance was +Y751 billion versus forecasts of +Y942.8 billion.

 

The Q1 UK business optimism index was reported at -22 versus the Q4 reading of 0.

 

                        Other

 

More regulation, but that is not necessarily a bad thing in the case of the securities industry.

                          https://www.marketwatch.com/story/wall-street-should-fear-new-biden-financial-regulators-experts-say-11611088268?mod=home-page#

 

                                                  Architecture billings continue to lose ground.

                          https://www.calculatedriskblog.com/2021/01/aia-architecture-billings-continue-to.html

                                               

                        The Fed

 

              A masterpiece of central bank absurdity.

              https://www.nakedcapitalism.com/2021/01/central-bank-machinations-with-no-exit-ecb-leaks-new-thingy-its-doing-yield-spread-control.html

 

                          ECB leaves monetary policy unchanged.

              https://www.zerohedge.com/markets/ecb-keeps-policy-unchanged-affirms-size-pandemic-program-despite-growing-lockdowns

 

                        Fiscal Policy

 

              The US government’s spending disaster.

              https://www.washingtontimes.com/news/2021/jan/18/offsetting-the-misery-of-the-us-governments-spendi/

 

                Bottom line.

 

              Outlook for S&P dividends in 2021.

              https://politicalcalculations.blogspot.com/2021/01/the-future-for-s-500-dividends-in-2021.html#.YAh5nehKiM8

 

 

    News on Stocks in Our Portfolios

 

Qualcomm (NASDAQ:QCOM) declares $0.65/share quarterly dividend, in line with previous.

 

What I am reading today

 

            These retirement expenses could bust your budget.

            https://www.usatoday.com/story/money/personalfinance/retirement/2021/01/17/taxes-health-care-longterm-care-expenses-retirement/115292554/

 

Visit Investing for Survival’s website (http://investingforsurvival.com/home) to learn more about our Investment Strategy, Prices Disciplines and Subscriber Service.