The Morning Call---NASDAQ at critical level

 

The Morning Call

 

7/8/22

 

 

The Market

         

    Technical

 

            Thursday in the charts.

            https://www.zerohedge.com/markets/bitcoin-big-tech-black-gold-bid-hawkish-fedspeak-batters-bonds

 

            NASDAQ at critical level.

            https://www.zerohedge.com/the-market-ear/cd2foxv76

 

            JP Morgan sees sudden change in sentiment.

            https://www.zerohedge.com/markets/massive-uptick-etf-demand-and-short-covering-jpm-sees-sudden-change-market-sentiment

 

            You know what would really be crazy?

            https://www.zerohedge.com/markets/you-know-what-would-be-really-irritating-crazy-rally-new-highs

 

    Fundamental

 

       Headlines

 

              The Economy

 

                        US

 

                          June nonfarm payrolls rose by 372,000 versus estimates of 268,000.

 

                        International

 

                          May Japanese household spending fell 1.9% versus forecasts of +0.8%.

 

                        Other

 

                          More brilliance from the political class.

                          https://www.nakedcapitalism.com/2022/07/the-g7-is-still-pushing-its-nutty-russia-oil-price-cap-idea.html

 

                          Why does consumer sentiment have echo crashes?

                          https://ritholtz.com/2022/07/consumer-sentiment-echoes/

 

            The Fed

 

              Market to Fed: no need to panic.

              https://scottgrannis.blogspot.com/2022/07/market-to-fed-no-need-to-panic.html

 

The latest from  David Stockman. While I agree, in general, with his assessment of Fed policy, I think that there are enough signs of slowing (lower?) inflation to make his conclusions suspect. Still, he is always fun to read.

https://www.zerohedge.com/markets/david-stockman-why-great-reckoning-has-begun

 

            Recession

 

              Recession signals flashing red.

              https://www.advisorperspectives.com/commentaries/2022/07/06/recession-signals-flashing-red

 

              Mortgage demand drops even as rates decline.

              https://www.cnbc.com/2022/07/06/mortgage-demand-sinks-even-as-rates-drop.html

 

            Inflation

 

              Roaring US rental market showing early signs of cooling off.

              https://www.bloomberg.com/news/articles/2022-07-06/cheap-rent-here-s-where-apartment-market-is-starting-to-cool-off?sref=loFkkPMQ

 

     Bottom line

 

            Forward performance after bad first half of the year.

            https://quantifiableedges.com/forward-performance-after-bad-1st-halves-of-the-year/

 

            June dividends by the numbers.

            https://politicalcalculations.blogspot.com/2022/07/dividends-by-numbers-in-june-2022-and.html#.YscWwHbMKUk

 

            Update on valuations.

            https://www.advisorperspectives.com/dshort/updates/2022/07/07/p-e10-june-2022-update

 

            An update from John Hussman

            https://www.advisorperspectives.com/commentaries/2022/07/07/are-we-there-yet

 

            Artificial wealth versus GDP.

            https://www.zerohedge.com/markets/artificial-wealth-vs-gdp-why-earnings-stock-market-will-get-crushed

 

    News on Stocks in Our Portfolios

 

 

What I am reading today

 

            The economic problem with LIV golf.

            https://www.pragcap.com/the-economic-problem-with-liv-golf/

 

            Quote of the day.

            https://cafehayek.com/2022/07/quotation-of-the-day-3953.html?utm_source=feedburner&utm_medium=email

 

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