The Morning Call
12/2/21
The
Market
Technical
Wednesday in the
charts.
https://www.zerohedge.com/markets/omicrysteria-powellocalypse-slam-stocks-bond-yields-black-gold
The Dow fell below
its 200 DMA; if it remains there though next Monday, it will revert to
resistance. The S&P closed below the lower boundary of its short term
uptrend for the second day; if it ends there today, it will reset to a trading
range.
Fundamental
Headlines
The
Economy
US
October
construction spending was up 0.2% versus expectations of up 0.4%.
https://www.calculatedriskblog.com/2021/12/construction-spending-increased-02-in.html
The November final
manufacturing PMI came in at 58.3 versus estimates of 59.1.
The November ISM manufacturing
index was reported at 61.1 versus predictions of 61.0.
International
The October EU unemployment
rates was 7.3%, in line; October PPI was 5.4% versus 3.5%.
November Japanese
consumer confidence came in at 39.2 versus consensus of 40.0.
Other
October median household income.
The
Fed
The velocity of M2
https://econbrowser.com/archives/2021/11/so-you-want-to-be-a-monetarist
Fiscal
Policy
The absurdity of Biden’s claim that his
infrastructure bill is free.
https://townhall.com/columnists/byronyork/2021/12/01/the-bidenbuttigieg-pitch-its-all-free-n2599873
News on Stocks in Our Portfolios
Kroger (NYSE:KR): Q3 Non-GAAP EPS of $0.78 beats by $0.11; GAAP EPS
of $0.64 misses by $0.07.
Revenue
of $31.9B (+7.3% Y/Y) beats by $680M.
What
I am reading today
Bitcoin and electricity
https://marginalrevolution.com/marginalrevolution/2021/11/bitcoin-and-electricity.html
Assured misery.
https://www.collaborativefund.com/blog/assured-misery/
Fossil fuels are good.
https://www.masterresource.org/fossil-fuel-utility/brendan-spicked-fossil-fuels-good/
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