The Morning Call---Momentum mayhem

 

The Morning Call

 

12/10/24

 

The Market

         

    Technical

 

            Monday in the charts.

            https://www.zerohedge.com/market-recaps/momo-massacred-bullion-black-gold-bid-stocks-bonds-crypto-tank

 

            Momentum mayhem.

            https://www.zerohedge.com/the-market-ear/monday-momentum-mayhem

 

            The latest from Goldman’s trading desk.

            https://www.zerohedge.com/markets/goldman-trader-market-sentiment-unburdened-what-could-have-been

 

            The case for continuing strength in the dollar.

            https://www.apolloacademy.com/no-plaza-accord-today/

 

            Gold breaks to the upside as China resumes purchasing.

            https://www.zerohedge.com/precious-metals/gold-breaks-out-volatility-collapse-after-china-resumes-buying

 

    Fundamental

 

       Headlines

 

              The Economy

 

                        US

 

Q3 nonfarm productivity increased 2.2%, in line; Q3 unit labor costs were up 0.8% versus +1.5%.

 

The November small business optimism index came in at 101.7 versus forecasts of 94.2.

 

                        International

 

The November Chinese trade balance was $97.4 billion versus expectations of $95.0 billion.

 

November Japanese machine tool orders were up 3.0% versus consensus of +3.2%.

 

November German CPI fell 0.2%, in line.

 

                        Other

    

                          Big four recession indicators.

                          https://www.advisorperspectives.com/dshort/updates/2024/12/06/the-big-four-recession-indicators

 

                          The leading index for commercial real estate fell 2% in November.

                          https://www.calculatedriskblog.com/2024/12/leading-index-for-commercial-real.html

 

                          Yellow flags from the November jobs report.

                          https://bonddad.blogspot.com/2024/12/yellow-flags-from-november-jobs-report.html

 

                          Results from the NY Fed’s survey of consumer expectations.

                          https://www.zerohedge.com/economics/household-expectations-improving-financial-conditions-surge-five-year-high-after-trump

 

            Monetary Policy

 

              China eases monetary policy for the first time in 14 years.

              https://www.ft.com/content/7a9c963c-b1af-4c92-860e-f57dc546cf1f

 

              A trade war could stimulate rate cuts in the EU.

              https://www.ft.com/content/08c155fa-fd5d-480a-8ad5-82d1588ad932

 

            Inflation

 

              Reducing government spending is the key to reducing inflation.

              https://www.zerohedge.com/political/reducing-government-spending-key-reduce-inflation

 

              Used car prices turning into inflation headwind.

              https://wolfstreet.com/2024/12/07/used-vehicle-prices-turn-into-inflation-headwind-after-historic-2-year-plunge-helped-power-the-deceleration-of-core-cpi/

 

     Investing

 

            Wall Street’s S&P price target for 2025.

            https://www.tker.co/p/wall-street-2025-stock-market-outlook

 

            Understanding when enough is enough.

            2025 - Do Economic Indicators Support Bullish Outlooks? - RIA

 

            Investors haven’t been this complacent in two years.

            https://sherwood.news/markets/implied-volatility-hits-two-year-low/

 

    News on Stocks in Our Portfolios

 

Oracle press release (NYSE:ORCL): Q2 Non-GAAP EPS of $1.47 misses by $0.01.

Revenue of $14.1B (+9.0% Y/Y) misses by $20M.

 

Oracle (NYSE:ORCL) declares $0.40/share quarterly dividend, in line with previous.

 

 

What I am reading today

 

            Preference falsification.

            The Clock Strikes Thirteen - by Glenn Harlan Reynolds

 

 

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