The Morning Call---Who said volatile headlines?

 

The Morning Call

 

2/17/22

 

 

The Market

         

    Technical

 

            Wednesday in the charts.

            https://www.zerohedge.com/markets/stocks-crypto-dumpnpump-meh-fed-minutes-reverse-early-russia-rout

 

            Margin debt collapsing.

            https://www.zerohedge.com/the-market-ear/cfxehdxs

 

            Volatility in the Treasuries market near highs.

            https://www.ft.com/content/51c88469-d9a1-4928-8b99-b424daf8114f

 

    Fundamental

 

       Headlines

 

              The Economy

 

                        US

 

                          Weekly jobless claims totaled 248,000 versus predictions of 219,000.

 

January housing starts  fell 4.1% versus consensus of -0.5%; building permits were up 0.7% versus -4.0%.

                          https://www.zerohedge.com/personal-finance/housing-starts-tumble-january-building-permits-hits-16-year-high

 

January industrial production rose 1.4% versus expectations of +0.4% capacity utilization was 77.6 versus 76.8.

https://www.advisorperspectives.com/dshort/updates/2022/02/16/the-big-four-industrial-production-up-1-4-in-january

 

January business inventories were up 2.1%, in line.

 

The February housing index came in at 82 versus projections of 83.

                          https://www.calculatedriskblog.com/2022/02/nahb-builder-confidence-decreased-to-82.html

 

The February Philadelphia Fed manufacturing index was reported at 28.1 versus forecasts of 31.0.

 

                        International

 

December Japanese machinery orders were up 3.6% versus estimates of -1.8%; its January trade balance was -Y2191 billion versus -Y1607 billion.

 

                        Other

 

            The Fed

 

              World Bank economist says the Fed should act immediately and decisively.

              https://www.reuters.com/markets/europe/us-fed-should-act-soon-decisively-raise-rates-world-banks-reinhart-2022-02-15/

 

The Fed released the minutes from its January FOMC meeting. There was little new in them. But for those who love being bored, here they are.

              https://www.zerohedge.com/markets/fomc-minutes-show-fed-rush-rate-hikes-leaves-qt-details-air

 

The one thing that did stand out was an apparent growing awareness that the Fed is responsible for the mispricing of risk.

              https://www.zerohedge.com/markets/fed-explains-why-time-fed-put-much-lower

 

            Inflation

 

              Holy guacamole! An avocado shortage.

              https://www.bloomberg.com/news/articles/2022-02-15/the-u-s-mexico-avocado-dispute-is-already-causing-shortages?srnd=premium&sref=loFkkPMQ

 

              Soaring lumber prices.

              https://www.cnbc.com/2022/02/15/soaring-lumber-price-adds-nearly-19000-to-the-cost-of-a-new-home.html

 

              And now for some really negative s**t.

              https://www.zerohedge.com/markets/inflation-cassandra-speaks

 

            Geopolitics

                    

              The latest.

              https://www.zerohedge.com/geopolitical/ukraine-and-donbass-rebels-accuse-each-other-violating-ceasefire-kremlin-denies-troop

 

              Can Russia weather sanctions?

              https://econbrowser.com/archives/2022/02/russia-fx-reserves-and-external-pressures-in-the-event-of-war

 

              Russia mocks US.

              https://www.zerohedge.com/markets/russia-mocks-us-requests-full-list-ukraine-invasion-dates-year-ahead

 

            The coronavirus

 

This study is on the shelf life of airborne coronavirus. In reading it remember that masks do not stop airborne virus---the holes in the masks are much larger than the virus. However, masks are helpful in preventing an infected person from spewing droplets into the air.

              https://www.nakedcapitalism.com/2022/02/new-study-explain-how-coronavirus-stays-airborne-longer-than-previously-thought.html

 

 

    News on Stocks in Our Portfolios

 

Sherwin Williams (NYSE:SHW) declares $0.60/share quarterly dividend, 9.1% increase from prior dividend of $0.55.

 

Cisco press release (NASDAQ:CSCO): Q2 GAAP EPS of $0.84 beats by $0.16.

Revenue of $12.7B (+5.8% Y/Y) beats by $30M.

 

Cisco (NASDAQ:CSCO) declares $0.38/share quarterly dividend, 2.7% increase from prior dividend of $0.37.

 

What I am reading today

 

            Why I hate politics.

            https://americanconsequences.com/pj-orourke-stansberry-conference-political-panel/

 

                        Permissionless innovation.

            https://www.adamsmith.org/blog/a-short-message-from-marc-andreessen

 

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