Investing for Survival

 

The Morning Call

 

9/26/24

 

 

 

The Market

         

    Technical

 

            Wednesday in the charts.

            https://www.zerohedge.com/markets/stocks-bonds-crypto-crude-fade-ahead-powellpce

 

            Flows into the equity market continue.

            https://www.zerohedge.com/the-market-ear/fun-flows-expect-more-same

 

    Fundamental

 

       Headlines

 

              The Economy

 

                        US

                        

Weekly initial jobless claims totaled 218,000 versus forecasts of 225,000.

 

Final Q2 GDP growth was +3.0%, in line; the PCE price index was +2.5%, also in line; real consumer spending was up 2.8% versus +2.9%.

 

August durable goods orders were flat with July versus predictions of -2.6%; ex transportation, they were up 0.5% versus +0.1%.

 

August new home sales fell 4.7% versus estimates of -5.1%; August   building permits were up 4.6% versus +4.9%.

                         https://www.calculatedriskblog.com/2024/09/new-home-sales-decrease-to-716000_25.html

 

                       International

 

The October German consumer confidence index was -21.2 versus projections of -21.5.

 

                        Other

 

            Fiscal Policy

 

              The Budget blowout.

              https://www.advisorperspectives.com/commentaries/2024/09/25/financial-plan-blowout

 

              ‘Buy American’ policy doesn’t help Americans.

  https://www.bloomberg.com/opinion/articles/2024-09-23/-buy-american-policies-don-t-help-americans?utm_source=website&utm_medium=share&utm_campaign=twitter&sref=loFkkPMQ

 

The cost of Trump’s promises. (I want to point out that my beef with Trump isn’t political, its economic. Tax cuts, tariffs, mandatory reduction in credit card interest rates, in my opinion, are an anathema to the capitalist system and will be a huge burden on the citizenry.)

https://econbrowser.com/archives/2024/09/do-you-feel-lucky-part-ii

 

            Tariffs

 

              Protective tariffs are theft.

              https://cafehayek.com/2024/09/protective-tariffs-are-theft.html

 

            The Financial System

 

              The financial system is becoming more stable.

              https://www.apolloacademy.com/debanking-continues/

 

              Who holds all those Treasuries?

              https://www.nakedcapitalism.com/2024/09/who-holds-all-these-us-treasuries-update-on-the-investors-in-the-ballooning-us-national-debt-in-q2.html

 

            China

 

              China goes all out to save its economy.

              https://www.zerohedge.com/markets/china-goes-all-outas-xi-vows-save-private-economy-stabilitze-real-estate-and-boost-stock

 

     Bottom line

 

            The most important investment decision.

            https://investorplace.com/market360/2024/09/this-may-be-your-most-important-decision-for-every-investment/

 

    News on Stocks in Our Portfolios

 

Accenture (NYSE:ACN) declares $1.48/share quarterly dividend, 14.7% increase from prior dividend of $1.29.

 

The company’s Board of Directors has approved $4.0 billion in additional share repurchase authority, bringing Accenture’s total outstanding authority to approximately $6.7 billion.

 

What I am reading today

 

            The latest from Howard Marks.

            https://www.oaktreecapital.com/insights/memo/shall-we-repeal-the-laws-of-economics

 

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