Independent thinking for complex markets and current events
Fed better ignore this one off spike or risk the real pain. Do the math. 🧮 Headline: 172K. Leisure & hospitality – World Cup staffing – was 70K of it, vs. a 14K normal pace. Back out just the abnormal ~56K and you’re at ~116K. Back out the whole sector and you’re at ~102K – …
Ride the hype if you want but when that 119x dream cracks the next bagholder massacre will be biblical for everyone who bought the fairy tale at the top.
Reddit reported better-than-expected profit and revenue in its first-quarter earnings report on Thursday, and also issued an optimistic forecast. The stock jumped over 9% in extended trading. Here’s how the company did compared with LSEG estimates: Earnings per share: $1.01 vs. 58 cents expected Revenue: $663 million vs. $611 million expected Revenue jumped 69% in …
PASADENA, Calif. — Finally, the team that was supposed to win did. No. 1 Indiana shut down No. 9 Alabama and picked up a convincing 38-3 win at the Rose Bowl on Thursday afternoon. The Hoosiers, who are now a perfect 14-0 this season, will advance to the Peach Bowl next week to take on …
Stocks fell Thursday, with the Dow Jones Industrial Average registering its worst day of 2024, as a post-earnings rally in Nvidia failed to lift the broader market. The 30-stock Dow slid 605.78 points, or 1.53%, and closed at 39,065.26 for its worst session of the year. Boeing was the biggest laggard in the Dow, falling …
BY DAVID HAGGITH The numbers may be fake, but they have plunged a dagger into the back of the Powell pivot fantasy Photo by Reza Hasannia on Unsplash A scorching-hot jobs report finally woke up a few bond vigilantes today to recognize they have priced bonds on the wrong side of history. With so many jobs supposedly added to the …
Also: Jobs data tends to lag, indicating the situation might be worse than the market currently anticipates. Paradoxically, this is bullish for the near future as the market is eager to price in the cuts. TLDR: Bad news is good news. — Phoenix Capital (@PhoenixCapitalH) December 5, 2023 Job openings/S&P500 h/t Tonight We Ride!