The Morning Call---Earnings recession coming

 

The Morning Call

 

6/28/22

 

Gone for the fourth. Back on 7/18.

 

 

The Market

         

    Technical

 

            Monday in the charts.

            https://www.zerohedge.com/markets/good-news-sends-stocks-bonds-lower-oil-gas-prices-soar

 

            Update on margin debt.

            https://www.advisorperspectives.com/dshort/updates/2022/06/27/margin-debt-down-2-6-in-may

 

    Fundamental

 

       Headlines

 

              The Economy

 

                        US

 

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

                       

The April Case Shiller home price index rose 2.3% versus consensus of  +2.8%.

 

                          May pending home sales rose 0.7% versus expectations of -3.7%.

                          https://www.advisorperspectives.com/dshort/updates/2022/06/27/pending-home-sales-edged-up-in-may

 

The June Dallas Fed manufacturing index was reported at -17.7 versus consensus of +1.0.

                          https://www.advisorperspectives.com/dshort/updates/2022/06/27/dallas-fed-manufacturing-growth-decelerates-in-june

 

                        International

 

July German consumer confidence came in at -27.4 versus projections of -27.6.

 

                        Other

 

                          More spasms of the post lockdown economy.

                          https://brownstone.org/articles/more-spasms-of-the-post-lockdown-economy/

 

                          Russia defaults on loan payment.

                          https://www.reuters.com/markets/europe/russia-slides-towards-default-payment-deadline-expires-2022-06-26/

 

            The Fed

 

              This author believes that the Fed won’t chicken out.

              https://blogs.cfainstitute.org/investor/2022/06/23/the-fed-isnt-bluffing-the-real-threat-of-an-upside-down-depression/

 

            Fiscal Policy

 

              Government waste.

              https://www.zerohedge.com/political/anus-scanning-camera-just-how-much-federal-pork-and-waste-are-your-tax-dollars-funding

 

            Recession

 

              Recession signs increase.

  https://realinvestmentadvice.com/recession-signs-increase-as-fed-dismisses-   risk/?utm_medium=email&utm_campaign=Real%20Investment%20Report%20Recession%20Signs%20Increase%20As%20Fed%20Dismisses%20Risk&utm_content=Real%20Investment%20Report%20Recession%20Signs%20Increase%20As%20Fed%20Dismisses%20Risk+CID_3e1815789f011b639e905df1ab8cd4fb&utm_source=RIA%20Email%20Marketing%20Software&utm_term=READ%20MORE

 

                       

            Earnings recession coming.

            https://www.zerohedge.com/markets/earnings-recession-coming-fed-hikes-rates

 

     Bottom line

 

            Morgan Stanley sees temporary respite from sell off.

https://www.bloomberg.com/news/articles/2022-06-27/morgan-stanley-s-wilson-sees-temporary-respite-from-bear-market?srnd=premium#xj4y7vzkg&sref=loFkkPMQ

 

 

    News on Stocks in Our Portfolios

 

 

 

What I am reading today

 

           

 

 

Visit Investing for Survival’s website (http://investingforsurvival.com/home) to learn more about our Investment Strategy, Prices Disciplines and Subscriber Service.