The Morning Call
1/8/26
The
Market
Technical
Wednesday in the
charts.
https://www.zerohedge.com/markets/stocks-slide-bitcoin-bullion-and-brent-battered
Note: the S&P
traded back below its all-time high. That negates Monday’s break to the upside.
Another move above that high will necessitate restarting the clock for
determining a breakout.
Wednesday in the
technical stats.
https://www.barchart.com/stocks/momentum
https://www.barchart.com/stocks/sectors/rankings
https://www.barchart.com/stocks/signals/new-recommendations
The latest from
Citadel’s trading desk.
Fundamental
Headlines
The
Economy
US
Weekly jobless claims totaled 208,000 versus
consensus of 205,000.
Q3 nonfarm productivity rose 4.9% versus predictions
of +2.9%
October factory
orders (clearly old news) fell 1.3% versus estimates of down 0.8%; ex
transportation, they were off 0.2% versus -0.3%.
The October trade
balance was -$29.4 billion versus projections of -$54.0 billion.
November job openings
(JOLTS) totaled 7.15 million versus forecasts of 7.7 million.
The December ISM
services index came in at 54.4 versus expectations of 52.0.
https://bonddad.blogspot.com/2026/01/ism-services-report-for-december.html
International
November Japanese
YoY average cash earnings were up 0.5% versus consensus of +2.3%; the December
consumer confidence index was 37.2 versus 38.1.
The November EU
unemployment rate was 6.3% versus predictions of 6.4%; November PPI was +0.5%
versus +0.4%; the December economic sentiment index was 96.7 versus 96.9; the
December industrial sentiment index was +9.0, in line; the December services sentiment
index was 5.6 versus 5.1; the December consumer confidence index was -13.1
versus -14.6.
Other
Credit growth
expanding in US and Europe.
https://www.apolloacademy.com/credit-growth-accelerating-in-the-us-and-europe/
November median household income.
https://politicalcalculations.blogspot.com/2026/01/median-household-income-in-november-2025.html
Recap of 2025 US auto sales.
Overnight News
The White House is drafting an executive order
broadly targeted at addressing Americans’
frustration with the cost of living, including a push to allow people to dip
into their retirement and college savings accounts to afford down payments on
homes. The draft is also expected to move toward banning large investors from
acquiring single-family homes.
Trump said our
military budget for the year 2027 should not be $1tln, but rather $1.5tln.
Trump signs a
Presidential Memorandum directing withdrawal of US from participation in 66
international organisations.
US officials are
said to be working on options for business deals in Greenland, including rare
earth minerals mining and hydroelectric power, to step up links to the island.
President Trump
and his advisers are planning a sweeping initiative to dominate the Venezuelan
oil industry for years to come, and the president has told aides he believes
his efforts could help lower oil prices to his favored level of $50 a barrel.
US oil companies
want “serious guarantees” from Washington before they make splashy investments
in Venezuela as Trump urges them to back his bid to reshape energy markets.
Following Trump’s
approval, The Senate could vote as soon as next week to impose new sanctions
aimed at pressuring Russia to end its war with Ukraine.
BoE DMP (Dec): 1yr
ahead CPI expectations maintained at 3.4%; 3yr ahead maintained at
2.9%. Wage Growth1yr ahead: 3.7% (prev. 3.8%).
RBA Deputy
Governor Hauser said likely seen the last rate cut in the cycle and the
likelihood of near term rate cuts is very low, also noted November CPI data was
helpful, but largely as expected, according to ABC interview.
Inflation
EU inflation falls to target rate (2%).
https://www.wsj.com/economy/central-banking/eurozone-inflation-falls-to-ecb-target-5e1ccf99
The
Dollar
The
genius of a stable dollar.
Geopolitics
Threatening to seize Greenland shows the lack
of understanding of trade.
https://reason.com/2026/01/06/trump-wants-to-seize-greenland-because-he-doesnt-understand-trade/
Continuing fallout from Venezuela.
Investing
Wall Street’s
expensive candy (structured products).
https://www.wealthmanagement.com/investing-strategies/wall-street-s-expensive-candy
Is silver about to
crash?
https://www.zerohedge.com/markets/silver-about-crash-why-two-banks-thinks-meltdown-looms-next-week
News on Stocks in Our Portfolios
What
I am reading today
Best
wildlife photos of 2025.
Here
are the best wildlife photos of 2025 | National Geographic
The potential threat from foreign,
nonregistered commercial truck drivers.
Visit Investing
for Survival’s website (http://investingforsurvival.com/home)
to learn more about our Investment Strategy, Prices Disciplines and Subscriber
Service.
No comments:
Post a Comment