Friday, August 15, 2025

The Morning Call---The beginning of a profit squeeze?

 

The Morning Call

 

8/15/25

 

The Market

         

    Technical

 

            Thursday in the charts.

            https://www.zerohedge.com/market-recaps/bitcoin-bullion-dumped-hot-ppi-prompts-plunge-bonds

 

                Thursday in the technical stats.

            https://www.barchart.com/stocks/momentum

            https://www.barchart.com/stocks/sectors/rankings

 

            The latest from Goldman’s trading desk.

            https://www.zerohedge.com/markets/why-goldmans-trading-floor-buying-todays-dip-both-hands

 

            Retail investors have changed the game.

            https://www.zerohedge.com/markets/retail-investors-have-changed-game-and-goldman-flows-gurus-dont-see-it-ending-anytime-soon

 

            Charts for the beach.

            https://www.advisorperspectives.com/commentaries/2025/08/14/charts-for-beach

 

            Sentiment and stock prices diverge.

            https://talkmarkets.com/content/stocks--equities/sentiment-and-stock-prices-diverge?post=515542

 

            ETH fever.

            https://www.zerohedge.com/the-market-ear/eth-fever-fomo-treasuries-buying-and-25k-price-targets

 

    Fundamental

 

       Headlines

 

              The Economy

 

                        US

 

July retail sales were up 0.5%, in line; ex autos, they were up 0.3%, also in line.

 

                          More on retail sales from BofA.

                          https://www.zerohedge.com/markets/july-consumer-spending-unexpectedly-surges-signals-big-retail-sales-beat-bofa-card-data

 

The August NY Fed manufacturing index came in at 11.9 versus projections of 1.0.

 

                        International

 

Q2 Japanese YoY private consumption was up 0.2% versus estimates of +0.1%; Q2 YoY capital expenditures were up 1.3% versus +0.5%; the Q2 YoY price index was up 3.0% versus +3.1%; June industrial production was up 2.1% versus +1.7%.

 

July Chinese YoY industrial production rose 5.7% versus predictions of +5.9%; July YoY retail sales were up 3.7% versus +4.6%; July YoY fixed asset investments were up 1.6% versus +2.7%; the July unemployment rate was 5.2% versus 5.1%.

 

                        Other

 

                          Slowly strangling the pharmaceutical industry.

                          https://www.civitasinstitute.org/research/slowly-strangling-the-pharmaceutical-industry

 

                          Update on business cycle indicators.

                          https://econbrowser.com/archives/2025/08/business-cycle-indicators-w-monthly-gdp

 

                          Mortgage delinquencies decreased slightly in Q2.

                          https://www.calculatedriskblog.com/2025/08/mba-mortgage-delinquencies-decreased.html

 

                          The beginning of a profit squeeze.

                          https://bonddad.blogspot.com/2025/08/producer-prices-for-july-apparently.html

 

            Fiscal Policy

 

              National security for sale.

              https://www.cato.org/blog/nvidia-amds-deal-trump-administration-national-security-sale

 

              What data falsification looks like.

              https://www.aei.org/foreign-and-defense-policy/what-data-falsification-looks-like/

 

              Where is Bessent getting his rate model?

              https://www.nytimes.com/2025/08/13/business/wall-street-banks-crypto-stablecoins.html

 

     Investing

 

            The magnificent 493.

            https://ritholtz.com/2025/08/the-magnificent-493/

 

            How bubbles form.

https://www.marketwatch.com/story/if-youre-feeling-fomo-envy-and-greed-about-record-stock-prices-youre-not-alone-its-how-market-bubbles-form-9167d073?st=MhaCLW

 

                        Are investors being too pollyannish?

            https://www.ft.com/content/045d2054-ebf7-4462-b761-2138c4ebd7f0

 

Wall Street’s abrupt switch on crypto.

            https://www.nytimes.com/2025/08/13/business/wall-street-banks-crypto-stablecoins.html

 

            Ethereum’s moment?

                https://talkmarkets.com/content/ethereums-moment-why-10k-eth-is-back-on-the-table?post=515543

 

    News on Stocks in Our Portfolios

 

 

 

What I am reading today

 

            Friday morning humor.

            7 Major Advantages Of Female Umpires | Babylon Bee

 

 

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