The Morning Call
9/27/24
The
Market
Technical
Thursday in the
charts.
https://www.zerohedge.com/markets/stocks-gold-crypto-surge-ahead-pce
Fundamental
Headlines
The
Economy
US
August personal income
was up 0.2% versus predictions of +0.4%; August personal spending was up 0.2%
versus +0.3%.
The August PCE
price indicator was up 0.1%, in line.
August pending home sales rose 0.6% versus
consensus of +0.3%.
https://www.calculatedriskblog.com/2024/09/nar-pending-home-sales-increase-06-in.html
The September Kansas
City Fed manufacturing index came in at -18 versus expectations of +9.
International
The July Japanese leading
economic indicators were 109.3 versus estimates
of 109.5; the September YoY core CPI was up 2.0%, in line.
August Chinese YoY,
year to date industrial profits were up 0.5% versus projections of +3.5%.
The September
German unemployment rate was 6.0%, in line.
The September EU economic
sentiment index was 96.2 versus forecasts of 96.6; the September industrial
sentiment index was -10.9 versus -9.8; the September services sentiment index
was +6.7 versus +5.6; the September consumer confidence index was -12.9, in
line.
Other
A breakdown of the new home sales data.
https://politicalcalculations.blogspot.com/2024/09/us-new-home-market-muted-in-august-2024.html
Monetary
Policy
Markets
starting to discount another 50 bp rate cut.
https://www.capitalspectator.com/markets-lean-into-another-%c2%bd-point-rate-cut-by-the-fed/
Fed’s rate cut is leading to increased
borrowing/spending by small businesses.
Recession
This recession indicator shows a low risk over
the next several months.
https://www.zerohedge.com/markets/soft-or-hard-landing-why-chaos-recession-misunderstood
Civil
Strife
I am not sure of
what to make of this author’s most dire predictions; but we do know that (1) there
are lots of undocumented people in this country and (2) they include criminal
gangs from Mexico, Venezuela and Cuba. We just don’t know (yet) whether they
include terrorist.
https://www.zerohedge.com/geopolitical/stage-being-set-greatest-period-chaos-us-history
Tariffs
The case for tariffs----NOT.
China
Goldman thinks that there is more stimulus to
come.
Bottom line
The accounting
behind the new price highs.
https://www.carsongroup.com/insights/blog/the-new-record-high-for-markets-is-not-a-sugar-high/
News on Stocks in Our Portfolios
What
I am reading today
How
to avoid financial scams.
https://humbledollar.com/2024/09/stay-safe-out-there/
Visit Investing
for Survival’s website (http://investingforsurvival.com/home)
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