The Morning Call
9/20/24
The
Market
Technical
Thursday in the
charts
https://www.zerohedge.com/markets/delayed-reaction-buy-all-things-trade-engaged-after-fed-crisis-cut
A word of caution.
https://www.capitalspectator.com/mixed-risk-appetite-signals-sharpen-debate-for-markets-outlook/
Versus: rising
odds of a melt up.
https://www.zerohedge.com/the-market-ear/rising-odds-melt
Fundamental
Headlines
The
Economy
US
August existing home sales fell 2.5% versus
estimates of up 0.9%.
https://www.calculatedriskblog.com/2024/09/nar-existing-home-sales-decreased-to.html
Fannie Mae remains gloomy about home sales.
The August leading
economic indicators were down 0.2% versus predictions of -0.3%.
International
August Japanese CPI was up 0.5% versus
consensus of +0.3%.
August German PPI was up 0.2% versus
expectations of 0.0%.
August UK retail
sales were up 1.0% versus forecasts of +0.4%; ex fuel, they were up 1.1% versus
+0.5%; September consumer confidence came in at -20 versus -13.
Other
Monetary
Policy
Inside the FOMC formal statement.
The change in the Fed Funds rate versus where
it should be.
https://econbrowser.com/archives/2024/09/change-in-fed-funds-vs-where-the-fed-funds-should-be
A skeptics view of
the Fed’s rate cut.
https://www.zerohedge.com/markets/fed-pivots-panics
Bank of England
leaves rates unchanged.
Fiscal
Policy
The ruling class can’t even get their pet
projects right.
Recession
The Fed has improved the odds of a soft
landing.
Bottom line
What rate cuts
mean for equity sectors.
https://www.lpl.com/research/blog/what-rate-cuts-could-mean-for-equity-sectors.html
Dividend futures
post FOMC meeting.
https://politicalcalculations.blogspot.com/2024/09/dividend-futures-before-and-after-fed.html
Solving problems
by doing less not more.
https://collabfund.com/blog/take-something-away/
News on Stocks in Our Portfolios
Kroger (NYSE:KR) declares $0.32/share
quarterly dividend, in line with previous.
FedEx press
release (NYSE:FDX): Q1 Non-GAAP EPS of $3.60 misses by
$1.17.
Revenue of
$21.6B (-0.5% Y/Y) misses by $310M.
What
I am reading today
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