The Morning Call---Liquidity doesn't get much stronger than this

 

The Morning Call

 

10/2/24

 

The Market

         

    Technical

 

            Tuesday in the charts.

            https://www.zerohedge.com/markets/strikes-missiles-dockworkers-spark-surge-oil-gold-bonds-big-tech-bitcoin-battered

 

            The Market isn’t obeying its seasonal trends.

https://www.riskhedge.com/outplacement/the-invisible-computing-age/rcm?utm_campaign=RH-144&utm_content=RH144OP687&utm_medium=ED&utm_source=rcm

 

    Fundamental

 

       Headlines

 

              The Economy

 

                        US

 

Weekly mortgage applications declined 1.3% while purchase applications were up 1.0%.

 

August job openings (JOLTS report) totaled 8.04 million versus consensus of 7.65 million.

https://www.calculatedriskblog.com/2024/10/bls-job-openings-little-unchanged-at-80.html

 

August construction spending fell 0.1% versus projections of +0.1%.

https://www.calculatedriskblog.com/2024/10/construction-spending-decreased-01-in.html

 

The September manufacturing PMI was reported at 47.3 versus estimates of 47.0.

 

The September ISM manufacturing index came in at 43.9 versus predictions of 47.0.

                          https://www.calculatedriskblog.com/2024/10/ism-manufacturing-index-unchanged-at.html

 

September vehicle sales totaled 15.8 million units versus forecasts of 15.7 million units.

 

September ADP private payrolls rose by 143,000 versus expectations of 120,000.

                                  https://www.zerohedge.com/economics/adp-employment-report-shows-strong-rebound-jobs

 

                        International

 

                          The September EU unemployment rate was 6.4%, in line.

 

The October Japanese consumer confidence index was 36.9 versus consensus of 37.1.

 

                        Other

 

                          August median household income.

                          https://politicalcalculations.blogspot.com/2024/10/median-household-income-in-august-2024.html

 

            Monetary Policy

 

              Liquidity doesn’t get much stronger than this.

              https://www.zerohedge.com/markets/liquidity-doesnt-get-much-stronger

 

              Is the ‘soft landing’ good policy or luck?

              https://www.nakedcapitalism.com/2024/10/the-fed-and-the-soft-landing-policy-or-luck.html

 

            Fiscal Policy

 

              Why aren’t Trump/Harris talking about the national debt/deficit?

              https://www.aei.org/op-eds/the-debt-that-shall-not-be-named/

 

            Recession

 

              Longshoremen’s strike poses fresh threat to US economy.

              https://nypost.com/2024/09/30/opinion/longshoremens-strike-poses-a-fresh-threat-to-the-us-economy/

 

      Bottom line.

 

            One analyst’s thoughts on future stock performance.

            https://mypersonalcfo.com/2024/09/30/stock-market-outlook-below-average-returns-for-the-sp-500/

 

            Where the real ‘dry powder’ exists.

            https://www.carsongroup.com/insights/blog/heres-the-real-dry-powder-that-matters/

 

            Goldilocks has arrived.

            https://www.apolloacademy.com/goldilocks-has-arrived/

 

            How long will this ‘everything’ market last?

            The "Everything Market" Could Last A While Longer - RIA (realinvestmentadvice.com)

 

            A ‘max long’ moment?

            https://www.marketwatch.com/story/this-hedge-fund-manager-says-its-a-max-long-moment-for-stocks-65bc50eb

 

    News on Stocks in Our Portfolios

 

Nike press release (NYSE:NKE): Q1 GAAP EPS of $0.70 beats by $0.18.

Revenue of $11.6B (-10.4% Y/Y) misses by $50M.

 

What I am reading today

 

           

 

 

Visit Investing for Survival’s website (http://investingforsurvival.com/home) to learn more about our Investment Strategy, Prices Disciplines and Subscriber Service.