The Morning Call---The economic data over the next couple of weeks will be a mess

 

The Morning Call

 

10/29/24

 

 

The Market

         

    Technical

 

            Monday in the charts.

            https://www.zerohedge.com/market-recaps/squeezy-moves-stocks-bitcoin-bid-ahead-catalyst-heavy-week

 

                The start of the best trading period of the year.

            https://www.zerohedge.com/the-market-ear/crashy-oil-smooth-gold-and-immune-equities

 

            Late to the rates and dollar party.

            https://www.zerohedge.com/the-market-ear/late-rates-and-dollar-party

 

            The latest investor sentiment reading.

            https://www.bespokepremium.com/interactive/posts/think-big-blog/half-a-year-of-bulls

 

    Fundamental

 

       Headlines

 

              The Economy

 

                        US

 

The October Dallas Fed manufacturing index came in at -3 versus estimates of -1.

 

                        International

 

The September Japanese unemployment rate was 2.4% versus projections of 2.5%.

 

The October German consumer confidence index was -18.3 versus consensus of -20.5.

 

                        Other

 

                          The economic data over the next couple of weeks will be a mess.

                          https://www.wsj.com/economy/jobs/at-a-pivotal-moment-u-s-economic-data-will-be-a-mess-9224ad9f?mod=economy_lead_story

 

            Tariffs

 

              Trump 2.0 tariffs.

              https://econbrowser.com/archives/2024/10/trump-2-0-tariffs-and-wisconsin

 

            The Election

 

              Vote in the booth not your portfolio.

              https://www.advisorperspectives.com/commentaries/2024/10/28/what-will-election-mean-markets

 

              Economists warn of new inflation hazards after the election.

              https://www.wsj.com/economy/trump-harris-election-inflation-0797554a?mod=economy_lead_pos2

 

    Bottom line

 

            The Treasury yield curve responds to higher inflation fears.

            https://wolfstreet.com/2024/10/26/treasury-yield-curve-un-inversion-hits-milestone-on-inflation-fears-tsunami-of-supply-and-qt-mortgage-rates-near-7/

 

            A billion here, a billion there….

            Modern Monetary Magic At Work

 

            Thus far, Q3 earnings beats have disappointed.

https://www.bloomberg.com/news/articles/2024-10-28/s-p-500-profit-beats-disappoint-as-season-kicks-into-high-gear?srnd=homepage-americas&embedded-checkout=true

 

 

    News on Stocks in Our Portfolios

 

What I am reading today

 

           

 

 

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