Thursday, September 12, 2024

The Morning Call---The collapse of the old political system.

 

The Morning Call

 

9/12/24

 

The Market

         

    Technical

 

            Wednesday in the charts.

            https://www.zerohedge.com/markets/jensen-saves-day-nvidia-ceo-sparks-market-meltup-sends-nvda-250-billion-higher

 

            Can using a twelve month moving average increase your performance?

            https://www.priceactionlab.com/Blog/2024/09/beta-investing/

 

    Fundamental

 

       Headlines

 

              The Economy

 

                        US

 

                          Weekly initial jobless claims totaled 230,000, in line.

 

August PPI came in up 0.2% versus estimates of up 0.1%; core PPI was up 0.3% versus +0.2%.

                          https://www.zerohedge.com/markets/producer-prices-rose-more-expected-august

 

                        International

 

August Japanese PPI fell 0.2% versus expectations of 0.0%; August German PPI fell 0.8% versus +0.1%.

 

                        Other

 

                          The index for commercial real estate construction went up 3% in August.

                          https://www.calculatedriskblog.com/2024/09/leading-index-for-commercial-real.html

 

            Monetary Policy

 

              Markets remain uncertain about what a rate cut means.

              https://www.wsj.com/economy/central-banking/a-recession-signal-is-flashing-red-or-is-it-da02b509?mod=economy_lead_story

 

              ECB cuts rates by 25 bp.

              https://www.zerohedge.com/markets/ecb-cuts-rates-25bps-expected-projects-worsening-stagflation

 

              This analyst disagrees.

              https://www.ft.com/content/74c43985-309e-4889-b5f8-5fce56fbdd8d

 

            Fiscal Policy

 

              The financial cost of political inference.

              https://www.realclearmarkets.com/articles/2024/09/11/the_cost_of_financial_sector_political_interference_1057455.html

 

            Inflation

 

              Inside yesterday’s CPI number.

  https://wolfstreet.com/2024/09/11/beneath-the-skin-of-cpi-inflation-core-cpi-again-accelerates-month-to-month-fueled-by-hot-core-services-cpi-durable-goods-prices-drop-further/

 

 

            The Financial System

 

              New proposed rule changes regarding bank capital increase uncertainty.

              https://www.reuters.com/markets/us/details-new-us-bank-capital-rules-still-uncertain-with-election-looming-2024-09-11/

 

            Civil Strife

 

              The collapse of the old political system.

              https://www.zerohedge.com/political/enabling-brutus-slay-elon-musk-caesar

 

    Bottom line

 

            When the smart money is wrong.

https://smeadcap.com/missives/when-smart-money-is-wrong/?utm_campaign=Missives&utm_medium=email&_hsenc=p2ANqtz-8S8xgjEBrHKOEo6Gri2kHf2JRAlOL26aOhlJUnqG3dZc3xTigS2kftGJN1PJhbySlkCEbvd_P5NyWCLFtbBjQW9nZSPB-sYOVxmJSpjiaMQUCOvUw&_hsmi=323883710&utm_content=323883368&utm_source=hs_email

 

 

    News on Stocks in Our Portfolios

 

Kroger press release (NYSE:KR): Q2 Non-GAAP EPS of $0.93 beats by $0.02.

Revenue of $33.91B (+0.2% Y/Y) misses by $210M.

 

What I am reading today

 

            The impact of technological advances.

            https://www.advisorperspectives.com/commentaries/2024/09/11/technological-advances-things-better-or-does-it

 

 

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