Wednesday, January 5, 2022

The Morning Call--Update on valuations

 

The Morning Call

 

1/5/22

 

 

The Market

         

    Technical

 

            Tuesday in the charts.

            https://www.zerohedge.com/markets/big-tech-bonds-battered-banks-bitcoin-bid

 

    Fundamental

 

       Headlines

 

              The Economy

 

                        US

 

Weekly mortgage applications declined 5.6% while purchase applications were off  10.2%.

 

                          Month to date retail chain store sales grew slower than in the prior week.

 

November job openings totaled 10.5 million versus forecasts of 11.1 million.

 

The December ISM manufacturing index came in at 58.7 versus projections of 60.0.

https://www.advisorperspectives.com/dshort/updates/2022/01/04/december-ism-manufacturing-index-slight-improvement-in-labor-resources-supplier-delivery

 

                        International

 

December Japanese consumer confidence was reported at 39.1 versus estimates of 39.8.

 

The final December German services PMI was 48.7 versus consensus of 48.4; the final December composite PMI was 49.9 versus 50.0; the final December EU services PMI was 54.1 versus 53.3; the final December EU composite PMI was 53.3 versus 53.4.

 

                        Other

 

            The coronavirus

 

              Enough already with the covid state.

              https://www.realclearscience.com/articles/2022/01/04/enough_already_of_the_covid_state_810407.html

 

      Bottom line

 

            Update on valuations.

            https://www.advisorperspectives.com/dshort/updates/2022/01/04/the-q-ratio-and-market-valuation-december-update

                https://www.advisorperspectives.com/dshort/updates/2022/01/04/regression-to-trend-185-above-trend-in-december

 

            The latest from JP Morgan.

            https://www.bloomberg.com/news/articles/2022-01-04/jpmorgan-says-global-stock-market-party-is-far-from-over?srnd=premium&sref=loFkkPMQ

 

    News on Stocks in Our Portfolios

 

Johnson & Johnson (NYSE:JNJ) declares $1.06/share quarterly dividend, in line with previous.

 

 

What I am reading today

 

           

 

 

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