The Morning Call
10/30/24
The
Market
Technical
Tuesday in the
charts.
Key market
indicators for November.
Key
Market Indicators for November 2024 - RIA
Earnings reports
are increasing price volatility.
https://www.ft.com/content/f87e5d13-0801-4951-b69e-8b8648a099ce
Fundamental
Headlines
The
Economy
US
Weekly mortgage applications
fell 0.1% while purchase applications rose 5.0%.
Month to date
retail chain store sales grew more rapidly than in the prior week.
The August Case
Shiller home price index fell 0.3% versus forecasts of -0.1%.
https://www.calculatedriskblog.com/2024/10/case-shiller-national-house-price-index_29.html
September job openings (JOLTS) totaled 7.4
million versus predictions of 7.9 million.
https://www.calculatedriskblog.com/2024/10/bls-job-openings-little-unchanged-at-74.html
Q3 advanced GDP
growth was 2.8% versus consensus of 3.0%; the Q3 advanced PCE price index was
1.8% versus 2.7%; the Q3 advanced core PCE was 2.2% versus 2.1%; Q3 advanced
real consumer spending was 3.7% versus 3.0%.
https://www.zerohedge.com/economics/us-q3-gdp-growth-disappoints
October ADP
private payrolls grew 233,000 versus expectations of 115,000.
The October
consumer confidence index was reported at 108.7 versus estimates of 99.5.
https://econbrowser.com/archives/2024/10/confidence-surprises-on-the-upside
International
Q3 EU flash GDP growth
was +0.4% versus projections of +0.2%; the October economic sentiment index
came in at 95.6 versus 96.3; the October industrial sentiment index was -13.0
versus -10.5; the October services sentiment index was 7.1 versus 6.6; the
October consumer confidence index was -12.5, in line.
Q3 German flash
GDP increased 0.2% versus forecasts of -0.1%; the October unemployment rate was
6.1%, in line.
The October
Japanese consumer confidence index was 36.2 versus predictions of 37.0.
Other
Monetary
Policy
Is the prospect for another rate cut fading?
https://www.capitalspectator.com/is-the-prospect-for-another-fed-rate-cut-fading/
Tariffs
Trump’s tariffs would rock global trade.
https://www.nytimes.com/2024/10/28/us/politics/trumps-tariffs-global-trade.html
The
Election
Four history lessons on how the market will
react in this election.
https://www.zerohedge.com/markets/4-history-lessons-how-market-will-react-election
Bottom line.
Rose colored
glasses?
https://alhambrapartners.com/weekly-market-pulse-rose-colored-glasses/?src=news
Keep politics out
of your portfolio.
https://klementoninvesting.substack.com/p/the-growing-partisan-divide-in-us
In praise of
master limited partnerships.
https://www.advisorperspectives.com/commentaries/2024/10/29/stop-me
Weird
things are happening in the bond market.
News on Stocks in Our Portfolios
AbbVie (NYSE:ABBV) declares $1.64/share
quarterly dividend, 5.8% increase from prior dividend of $1.55.
Illinois Tool
Works Inc. press
release (NYSE:ITW): Q3 Non-GAAP EPS of $2.65 beats
by $0.12.
Revenue of $4B
(-1 Y/Y) misses by $20M.
Automatic Data
Processing press
release (NASDAQ:ADP): Q1 Non-GAAP EPS of
$2.33 beats by $0.12.
Revenue of $4.8B
(+6.7% Y/Y) beats by $30M.
What
I am reading today
The
golden boy of ancient Rome.
Who
killed Germanicus, the golden boy of ancient Rome?
Big lies and little progress---another
ruling class f**kup. I note that this article
comes
from a liberal website.
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for Survival’s website (http://investingforsurvival.com/home)
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