The Morning Call
2/22/24
The
Market
Technical
Wednesday in the
charts.
https://www.zerohedge.com/markets/bonds-stocks-dumped-ahead-jensens-big-night
Note: while the
S&P finished up on the day, it was not enough to regain the lower boundary
of its very short term uptrend, thus voiding it. However, futures are up this
morning on the Nivida earnings news. If that pushes the index back above the
very short term uptrend boundary, I will reinstate that trend. But the S&P
must still deal with the upper boundary of its short term uptrend.
Sentiment remains positive.
https://www.bespokepremium.com/interactive/posts/think-big-blog/sturdy-sentiment
Fundamental
Headlines
The
Economy
US
Weekly initial
jobless claims totaled 201,000 versus predictions of 218,000.
Month to date
retail chain store sales grew more rapidly than in the prior week.
The January
Chicago national activity index came in at -0.3 versus consensus of -0.19.
International
January EU CPI was -0.4%, in line.
The February
German flash manufacturing PMI was 42.3 versus expectations of 46.1; the
February flash services PMI was 48.2 versus 48.0; the February flash composite
PMI was 46.1 versus 47.5; the February EU flash manufacturing PMI was 46.1
versus 47.0; the February flash services PMI was 50.0 versus 48.5; the February
flash composite PMI was 48.9 versus 48.5; the February UK flash manufacturing
PMI was 47.1 versus 47.5; the February flash services PMI was 54.3 versus 54.1;
the February flash composite PMI was 53.3 versus 52.9.
Other
January architecture
billings were sluggish.
https://www.calculatedriskblog.com/2024/02/aia-architecture-billings-index-reports.html
The
Fed
The Fed released
the minutes from the last FOMC meeting. They more hawkish than was generally
expected. But I thought that the Market took it reasonably well.
https://www.zerohedge.com/markets/fomc-minutes-7
The Market continues to price in a path to
rate cuts in 2024.
https://www.capitalspectator.com/markets-continue-to-price-in-path-for-rate-cuts-in-2024/
Inflation
It has been thirty years since food ate up
this much of your income.
Government
Shutdown
The deadline looms.
Bottom line
Knowns, known unknowns
and unknown unknowns.
https://alhambrapartners.com/2024/02/20/weekly-market-pulse-questions/?src=news
Cliff Arness’ top ten peeves.
https://www.aqr.com/Insights/Research/Journal-Article/My-Top-10-Peeves
Getting the big
things right.
https://theirrelevantinvestor.com/2024/02/17/get-the-big-things-right/
News on Stocks in Our Portfolios
What
I am reading today
Higher
education crapification.
The coming flip
from El Nino to La Nina.
https://www.zerohedge.com/weather/coming-collapse-el-nino-and-flip-la-nina
Which
lifestyle changes can help you live longer?
https://www.zerohedge.com/medical/which-lifestyle-changes-can-make-you-live-longer
Visit Investing
for Survival’s website (http://investingforsurvival.com/home)
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