The Morning Call---The Fed on valuations

 

The Morning Call

 

11/19/21

 

 

The Market

         

    Technical

 

            Thursday in the charts.

            https://www.zerohedge.com/markets/growth-stocks-near-record-highs-value-bitcoin-bloodbaths-2mo-lows

 

            Margin debt rose in October.

            https://www.advisorperspectives.com/dshort/updates/2021/11/17/margin-debt-and-the-market-up-3-6-in-october

 

            What happens when sentiment plunges?

            https://sentimentrader.com/blog/these-2-sectors-soar-when-sentiment-plunges/

 

    Fundamental

 

       Headlines

 

              The Economy

 

                        US

 

The November Kansas City Fed manufacturing index came in at 17 versus estimates of 23.

 

                        International

 

                          October Japanese CPI was -0.3% versus forecasts of +0.1%.

 

October UK retail sales rose 0.8% versus consensus of +0.5%; ex fuel, they were up 1.6% versus +0.6%.

 

                        Other

 

            The coronavirus

           

              How fanatics took over the world.

              https://brownstone.org/articles/how-fanatics-took-over-the-world/

 

     Bottom line           

 

            More on valuations---from the Fed.

            https://www.advisorperspectives.com/commentaries/2021/11/17/fed-issues-stock-market-warning-as-valuations-surge

 

    News on Stocks in Our Portfolios

 

Williams-Sonoma (NYSE:WSM): Q3 Non-GAAP EPS of $3.32 beats by $0.22; GAAP EPS of $3.29 beats by $0.13.

Revenue of $2.05B (+16.5% Y/Y) beats by $70M.

 

Home Depot (NYSE:HD) declares $1.65/share quarterly dividend, in line with previous.

 

What I am reading today

 

           

 

 

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