The Morning Call--Q4 looking better

 

The Morning Call

 

11/16/21

 

 

The Market

         

    Technical

 

            Monday in the charts.

            https://www.zerohedge.com/markets/stocks-bonds-dump-dollar-pumps-breakevens-soar

 

            Bond bubble isn’t over.

            https://www.zerohedge.com/markets/bubble-bond-markets-has-long-way-go-it-can-burst

 

            Crypto carnage.

            https://www.zerohedge.com/crypto/crypto-carnage-erases-10-global-market-cap

 

    Fundamental

 

       Headlines

 

              The Economy

 

                        US

 

The November NY Fed manufacturing index came in at 30.9 versus expectations of 21.2.

                          https://www.advisorperspectives.com/dshort/commentaries/2021/11/15/empire-state-mfg-survey-strong-growth-in-november

 

                        International

 

Q3 EU 2^nd estimate GDP growth was +2.2%, in line.; employment grew by 0.9% versus +0.8%.

 

September UK unemployment rate was 4.3% versus predictions of 4.4%; average earnings were up 5.8% versus +5.6%.

 

                        Other

 

Current nowcasts point to improving growth in Q4, but inflation remains a problem.

                          https://www.capitalspectator.com/us-gdp-growth-appears-set-for-strong-rebound-in-q4/

 

            Inflation

 

              El Erian: Fed is losing credibility.

              https://www.zerohedge.com/economics/el-erian-fears-fed-losing-credibility-dudley-warns-hope-not-strategy

 

    News on Stocks in Our Portfolios

 

Home Depot (NYSE:HD): Q3 GAAP EPS of $3.92 beats by $0.55.

Revenue of $36.82B (+9.8% Y/Y) beats by $2B.

 

Genuine Parts (NYSE:GPC) declares $0.815/share quarterly dividend, in line with previous.

 

What I am reading today

 

           

 

 

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