Tuesday, November 19, 2024

The Morning Call--Reasons to be worried

 

The Morning Call

 

11/19/24

 

The Market

         

    Technical

 

            Monday in the charts.

            https://www.zerohedge.com/market-recaps/bitcoin-bullion-black-gold-bonds-bid-trump-trade-builds

 

            Reasons to be worried.

            https://www.zerohedge.com/the-market-ear/warrens-worried-should-you-be-too

 

            Gold suffers worse week in three years.

            https://www.ft.com/content/760ec80b-68ef-471a-b712-23c4cc16d1ed

 

            Whither gold?

 

 

            https://www.zerohedge.com/the-market-ear/gold-post-trump-puke

 

    Fundamental

 

       Headlines

 

              The Economy

 

                        US

 

                          Month to date retail chain store sales grew faster than in the prior week.

 

October housing starts fell 3.1% versus expectations of -0.2%; building permits were off 0.6% versus +2.5%.

 

                          The November housing index was reported at 46 versus estimates of 44.

                       

                        International

 

                          October EU CPI was up 0.3%, in line.

 

                        Other

 

                          Consumers have money and they plan to spend it during the holidays.

                          https://www.tker.co/p/household-finances-strong-holiday-shopping-preview

 

                          Prime and subprime auto loan delinquency rates.

  https://wolfstreet.com/2024/11/16/auto-loan-balances-burden-subprime-prime-delinquency-rates-and-subprime-dealer-americas-car-mart-in-q3-2024/

 

                          Interest rates, inflation and housing.

                          https://bonddad.blogspot.com/2024/11/whither-housing-look-at-interest-rate.html

 

            Fiscal Policy

 

              Markets could have the final say of Trump’s tax and tariff policies.

              https://thehill.com/opinion/finance/4990672-trump-election-stock-market/

 

              Cutting spending will be harder than you think.

              https://www.advisorperspectives.com/commentaries/2024/11/18/trump-inflation-problem

 

            Inflation

 

              The battle against inflation has not been won.

              https://www.zerohedge.com/economics/inflation-fire-not-extinguished-yet-far-it

 

            Recession

 

              Big four recession indicators.

              https://www.advisorperspectives.com/dshort/updates/2024/11/15/the-big-four-recession-indicators

 

              New Q4 nowcast---very close to ‘muddle through’.

              https://www.capitalspectator.com/slower-growth-expected-for-the-us-economy-in-q4/

 

            Geopolitics

 

              Ukraine fires US made missiles deep into Russian territory.

              https://www.zerohedge.com/markets/ukraine-launches-first-atacms-strike-russia-sending-markets-reeling-amid-ww3-fears

 

              We are going to get lots more escalation on multiple fronts.

              https://www.zerohedge.com/markets/we-are-going-get-lots-more-escalation-multiple-fronts-ahead-and-it-unclear-how-we-then

 

    Bottom line

 

            Stocks may be rising but don’t get careless.

            https://investorplace.com/market360/2024/11/stocks-may-be-melting-up-but-we-cant-get-careless/

 

                If Buffett is selling, should we be buying?

            https://www.zerohedge.com/markets/if-buffett-selling-should-anyone-be-bullish

 

            Fiscal policy is on an unsustainable path; how will it affect markets?

            https://www.tker.co/p/household-finances-strong-holiday-shopping-preview

 

            The obsession with round numbers.

            https://www.optimisticallie.com/p/the-obsession-with-round-numbers

 

    News on Stocks in Our Portfolios

 

What I am reading today

 

           

                        Quote of the day.

            https://cafehayek.com/2024/11/quotation-of-the-day-4832.html

 

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