The Morning Call
2/3/22
The
Market
Technical
Wednesday in the charts.
https://www.zerohedge.com/markets/paypal-pukes-google-gains-crypto-crokes-dollar-dumps
These five charts reveal
much about the Market.
https://www.riskhedge.com/outplacement/5-charts-reveal-everything-about-the-stock-market/rcm
Bond/equity fear ‘divide’
is back.
https://www.zerohedge.com/the-market-ear/cz4tbgbqox
All clear?
https://www.zerohedge.com/markets/authers-be-warned-turbulence-time-different
Fundamental
Headlines
The
Economy
US
Weekly jobless claims were 238,000 versus
expectations of 245.000.
Preliminary Q4
nonfarm productivity was up 6.6% versus forecasts of +3.2%; unit labor costs
rose 0.3% versus +1.5%.
International
December EU PPI was +2.9% versus projections
of +2.8%.
The final January
Japanese services PMI was 47.6 versus estimates of 46.6; the composite PMI was
49.9 versus 48.8; the final January German services PMI was 52.2 , in line; the
composite PMI was 53.8 versus 54.2; the final January EU services PMI was 51.1 versus
51.2; the composite PMI was 52.3 versus 52.4; the final January UK services PMI
was 54.1 versus 53.3; the composite PMI was 54.2 versus 53.4.
Other
Business cycle indicators at the beginning of
February.
https://econbrowser.com/archives/2022/02/business-cycle-indicators-at-the-start-of-february
Recession risk returning?
https://www.zerohedge.com/the-market-ear/recessionrisk
The
Fed
Credit continues to ease.
ECB reiterates pledge to withdraw stimulus
gradually.
Bank of England raises rates and ends QE.
Inflation
Will oil prices continue to rise?
https://www.nytimes.com/2022/02/02/business/economy/oil-price.html
Geopolitics
US deploys troops to NATO’s eastern flank.
The
coronavirus
Studies show
lockdowns impose enormous economic and social costs with little benefit to
public health.
Bottom line.
What could go
right?
https://www.linkedin.com/in/edward-yardeni/detail/recent-activity/
Return of capital versus
return on capital.
https://www.zerohedge.com/markets/return-capital-takes-center-stage-return-capital
News on Stocks in Our Portfolios
Illinois Tool Works press release (NYSE:ITW): Q4 GAAP EPS of
$1.93 beats
by $0.03.
Revenue of $3.7B (+5.7% Y/Y) beats by
$150M.
W.W. Grainger press release (NYSE:GWW): Q4 Non-GAAP EPS of
$5.44 beats by $0.21.
Revenue of $3.36B (+14.3% Y/Y) beats by $100M.
Cummins press release (NYSE:CMI): Q4 GAAP EPS of $2.73 misses by
$0.41.
Revenue of $5.9B (+1.2% Y/Y) beats by $90M.
Becton, Dickinson press release (NYSE:BDX): Q1 Non-GAAP EPS of $3.64 beats by
$0.79.
GAAP Revenue of $5B (-6.0% Y/Y) beats by
$240M.
Qualcomm press release (NASDAQ:QCOM): Q1 Non-GAAP EPS of
$3.23 beats by $0.23.
Revenue of $10.7B (+29.9% Y/Y) beats by $270M.
What
I am reading today
How
Tom Brady made greatness routine.
https://www.si.com/nfl/2022/02/01/tom-brady-retires-nfl-what-made-him-great
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for Survival’s website (http://investingforsurvival.com/home)
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