The Morning Call--Disappearing earnings

 

The Morning Call

 

11/8/22

 

 

The Market

         

    Technical

 

            Monday in the charts.

            https://www.zerohedge.com/markets/midterms-loom-stocks-rally-everything-else-drops

 

            Brief reprieve or back to the bear market?

            https://www.advisorperspectives.com/dshort/updates/2022/11/04/s-p-500-snapshot-brief-reprieve-but-back-to-the-bear

 

            A vote for ‘back to the bear market.’

            https://www.advisorperspectives.com/commentaries/2022/11/07/what-to-watch-a-look-at-bear-market-rallies

 

            And another.

            https://www.advisorperspectives.com/commentaries/2022/11/07/october-market-lows-and-the-end-of-bear-markets

 

            More speculation on whether the dollar has peaked.

            https://www.zerohedge.com/markets/price-action-suggests-dollar-has-peaked-now

 

    Fundamental

 

       Headlines

 

              The Economy

                                             

                        US

 

The October small business optimism index was reported at 91.3 versus estimates of 92.0.

 

                        International

 

Preliminary September Japanese leading economic indicators  were 97.4 versus expectations of 100.1.

 

September EU retail sales were up 0.4%, in line.

 

                        Other

 

                                  Update on big four economic indicators.

                          https://www.advisorperspectives.com/dshort/updates/2022/11/07/the-big-four-economic-indicators-october-employment

 

                                  Early signs of a weakening in the jobs market.

                          https://www.advisorperspectives.com/commentaries/2022/11/07/the-jobs-data-trend-is-durations-friend

 

                                  Update on four high frequency economic indicators.

                          https://www.calculatedriskblog.com/2022/11/four-high-frequency-indicators-for.html

 

                The Fed

 

              The consequences of irresponsible monetary (and fiscal) policy (must read).

              https://www.zerohedge.com/markets/global-rate-hikes-smash-wall-debt-maturity

 

                Inflation

 

              The PMI-prices paid index suggests falling inflation.

              https://www.yardeniquicktakes.com/pmi-prices-paid-indexes-predicting-falling-inflation/

 

                  Wholesale used car prices fell in October.

              https://www.calculatedriskblog.com/2022/11/wholesale-used-car-prices-declined-in.html

 

                   Labor or capital driven inflation? (must read)

              https://ritholtz.com/2022/11/labor-or-capital-driven-inflation/

 

                Recession

 

              Investors are betting heavily on a ‘soft’ landing.

              https://www.zerohedge.com/markets/equity-investors-are-betting-heavily-soft-landing-economy

 

                Fiscal Policy

 

              Republicans need a coherent economic policy.

              https://www.bloomberg.com/opinion/articles/2022-11-03/midterm-elections-republicans-have-no-plan-to-fix-the-economy?leadSource=uverify%20wall&sref=loFkkPMQ

  

 

                  Another example of how bureaucracy only causes problems, not solves them.

             https://www.adamsmith.org/blog/45yw663hsf6yvjy1wx53xff6rl8sd1

 

      Bottom line

 

            Disappearing earnings.

            https://www.schwab.com/learn/story/disappearing-act-earnings?cmp=em-QYC

 

                Goldman cuts S&P earnings estimates.

            https://www.bloomberg.com/news/articles/2022-11-07/goldman-cuts-s-p-500-earnings-estimate-citing-margin-headwinds?sref=loFkkPMQ

 

                        For the bears and all those who love to be depressed.

            https://www.zerohedge.com/markets/no-no-no-no-no-no-no-no-no-no

 

    News on Stocks in Our Portfolios

 

What I am reading today

 

            The exceptions to your problems holds the key to your solutions.

            https://traderfeed.blogspot.com/2022/11/trading-psychology-advice-3-solution.html

 

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