The Morning Call
10/27/21
The
Market
Technical
Tuesday in the
charts.
https://www.zerohedge.com/markets/long-bond-big-caps-black-gold-bid-china-tech-chunders
Epic reset in
volatility
https://www.zerohedge.com/the-market-ear/volatilitynote
A list of Market
risks.
https://www.zerohedge.com/the-market-ear/risks
Fundamental
Headlines
The
Economy
US
Weekly mortgage
applications were up 0.3% while purchase applications were up 3.5%.
Month to date retail
chain store sales grew at approximately the same rate as in the prior week.
The August Case
Shiller home price index was up 0.9% versus estimates of up 1.5%.
https://www.calculatedriskblog.com/2021/10/case-shiller-national-house-price-index.html
September new home
sales rose 13.9% versus predictions of +8.2%.
https://www.calculatedriskblog.com/2021/10/new-home-sales-increase-to-800000.html
September durable
goods orders declined 0.4% versus projections of -1.1%; ex transportation, they
advanced 0.4%, in line.
https://www.zerohedge.com/economics/us-durables-goods-orders-slide-september
October consumer confidence
came in at 113.8 versus forecasts of 108.3.
The October
Richmond Fed manufacturing index was reported at 12 versus -3 in September.
International
September YoY
Chinese industrial profits increased 44.7% versus +49.5% in August.
November German consumer
confidence was reported at +0.9 versus expectations of -0.5.
Other
Who owns the national debt?
Update on household income.
Inflation
More on the ‘transitory’ argument.
https://alhambrapartners.com/2021/10/24/weekly-market-pulse-inflation-scare-2/
Counterpoint.
https://www.bloomberg.com/graphics/opinion-authers-inflation-tracker/?srnd=premium
The coronavirus
More on Fauci’s (NIH’s) lie.
Bottom line
Balancing emotion
and science in volatile markets.
https://www.advisorperspectives.com/commentaries/2021/10/26/staying-calm-even-if-markets-arent
News on Stocks in Our Portfolios
3M (NYSE:MMM): Q3 Non-GAAP EPS of $2.45 beats by $0.22; GAAP EPS
of $2.45 beats by $0.24.
Revenue
of $8.94B (+7.1% Y/Y) beats by $270M.
UPS (NYSE:UPS): Q3 Non-GAAP EPS of
$2.71 beats by $0.16; GAAP EPS of $2.65 beats
by $0.10.
Revenue
of $23.2B (+9.2% Y/Y) beats by $630M.
C.H. Robinson Worldwide (NASDAQ:CHRW): Q3 GAAP EPS of
$1.85 beats by $0.42.
Revenue
of $6.3B (+49.3% Y/Y) beats by $820M.
Microsoft (NASDAQ:MSFT): Q1 Non-GAAP EPS of
$2.27 beats by $0.19; GAAP EPS of $2.71 beats
by $0.64.
Revenue
of $45.3B (+21.8% Y/Y) beats by $1.3B.
Automatic Data Processing (NASDAQ:ADP): Q1
GAAP EPS of $1.65 beats by $0.16.
Revenue
of $3.83B (+9.4% Y/Y) beats by $80M.
General Dynamics (NYSE:GD): Q3 GAAP EPS of $3.07 beats by $0.09.
Revenue
of $9.57B (+1.5% Y/Y) misses by $290M.
What
I am reading today
Robert
Shiller on the future of home prices.
Visit Investing
for Survival’s website (http://investingforsurvival.com/home)
to learn more about our Investment Strategy, Prices Disciplines and Subscriber
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