The Morning Call
5/24/22
The
Market
Technical
Monday in the charts.
https://www.zerohedge.com/markets/dimon-hands-lift-stocks-bonds-dollar-dumped
Note: despite
yesterday’s explosive pin action, the S&P still did not recover enough to
challenge even the shortest term downtrend---which means there is nothing to
argue that the short term trend has changed. Let’s see if we get some follow
through to the upside today.
Another contrary
indicator
https://twitter.com/jasongoepfert/status/1528720908537430017/
S&P snapshot:
correction territory, cusp of bear
The worst years
ever in the stock market.
https://awealthofcommonsense.com/2022/05/the-worst-years-ever-in-the-stock-market/
It is probably not
over.
https://www.zerohedge.com/markets/tchir-its-too-early-fed-change-their-messaging
Fundamental
Headlines
The
Economy
US
International
The May Japanese
flash manufacturing PMI was 53.2 versus estimates of 53.0; the flash services
PMI was 51.7 versus 50.2; the flash composite PMI was 51.4 versus 50.5.
The May German flash manufacturing PMI was 54.7
versus predictions of 54.0; the flash services PMI was 56.3 versus 57.2; the
flash composite PMI was 54.6 versus 54.0.
The May EU flash
manufacturing PMI was 54.4 versus consensus of 54.9; the flash services PMI was
56.3 versus 57.5; the flash composite PMI was 54.9 versus 55.3.
The May UK flash
manufacturing PMI was 54.6 versus forecasts of 55.0; the flash services PMI was
51.8 versus 57.0; the flash composite PMI was 51.8 versus 56.5.
Other
Housing
inventory update.
https://www.calculatedriskblog.com/2022/05/housing-inventory-may-23rd-update.html
Update
on four high frequency economic indicators.
https://www.calculatedriskblog.com/2022/05/four-high-frequency-indicators-for_23.html
US
announces major Asian economic deal.
Inflation
Cross country core CPI trends.
https://econbrowser.com/archives/2022/05/cross-country-core-cpi-trends
China’s oil demand must remain weak or we are
in for a tough summer.
Inflation concerns are soaring around the
world.
https://www.zerohedge.com/personal-finance/inflation-concerns-are-soaring-around-world
Fiscal
Policy
Analysis of the magnitude of US aid to
Ukraine.
https://www.nytimes.com/interactive/2022/05/20/upshot/ukraine-us-aid-size.html
Bottom line
This is a bit of a
sales piece; but it contains enough investment logic that I include it.
https://evergreengavekal.com/inflation-infatuation/
More on valuation.
https://politicalcalculations.blogspot.com/2022/05/what-should-value-of-s-500-be.html#.YouhBnbMKUk
Morgan Stanly sees
the S&P at 3400.
Credit market
warnings are piling up.
https://www.zerohedge.com/markets/credit-market-warnings-are-piling
News on Stocks in Our Portfolios
Hormel Foods (NYSE:HRL) declares $0.26/share quarterly dividend, in line with previous.
What
I am reading today
Why
Turkey doesn’t want Sweden and Finland to join NATO.
https://www.cnbc.com/2022/05/23/why-turkey-doesnt-want-sweden-finland-to-join-nato.html
I try to avoid politics in these
notes. But this story is too important to ignore.
https://www.zerohedge.com/political/what-it-means-hillary-clinton-did-it
Visit Investing
for Survival’s website (http://investingforsurvival.com/home)
to learn more about our Investment Strategy, Prices Disciplines and Subscriber
Service.
No comments:
Post a Comment