Independent thinking for complex markets and current events
via Mike Shedlock If someone tell you the consumer is strong, please have them read this post. The strong consumer is all a mirage of inflation. Nominal and Real (inflation adjusted by the CPI) retail sales chart by Mish. The Bloomberg Econoday consensus expected retail sales would advance by 0.3 percent in May. Instead, the …
High Volume of Recent Sales: Since 2000, a large proportion of residential property sales in China have taken place in recent years: 56% of all sales occurred after 2015. 38% of all sales occurred after 2018. Falling Property Prices: Second-hand property prices have fallen back to their 2018 levels. Potential Negative Equity: Due to the …
This is something most people miss. Just because someone has a fixed rate mortgage it doesn’t mean their cost of ownership can’t increase. And if other costs do increase it’s identical to having an adjustable rate mortgage. At some point the owner has to sell. pic.twitter.com/t292RSSmCk — George Gammon (@GeorgeGammon) June 11, 2024 Fixed Rate …
Boeing received orders for only four new planes in May — and for the second straight month, none for its best-selling 737 Max, as fallout continues from the blowout of a side panel on a Max during a flight in January. The results released Tuesday compared unfavorably with Europe’s Airbus, which reported orders for 27 …
by BLOWED UP REAL GOOD I have noticed that retail sales for a lot of corporations are HORRIBLE these days. People are NOT spending money based in the results that I have seen from corporate sales data from a lot of huge corporations. I think this economy is heading for a collapse soon! I have …
The number of NEW single-family houses for sale has surged to 480,000 in April, the highest since the 2008 Financial Crisis. Excluding the 2008-2009 housing crisis this is by far the largest supply of new homes in US history. Here’s the FRED chart in case anyone questions the veracity of the chart: https://fred.stlouisfed.org/series/HNFSEPUSSA New home …
US housing has become the most expensive in history: The median sale price of houses sold in the US hit another all-time high of $387,600 in May, measured as a 4-week average. Prices increased 4% year-over-year and exceeded the June 2023 record. Since 2021, the median home… pic.twitter.com/K9ltjcfI85 — The Kobeissi Letter (@KobeissiLetter) May 30, …
Target just issued a very concerning earnings report. Stating that their sales dropped and fewer customers are coming into the store. A concerning signal about the health of the US consumer in 2024. In particular – Target is warning that inflation-battered consumers across America are now starting to cutback on spending. A signal that the …
by confoundedinterest17 After (unexpectedly) tumbling in March, existing home sales were expected to rise modestly (+0.8% MoM) in April. Analysts were wrong as March’s data was revised marginally up from -4.3% MoM to -3.7% MoM and April printed -1.9% MoM (a big miss). That left existing home sales down 1.9% YoY… Source: Bloomberg That pushed the …
Magnificent 7 Insider Sales this year excluding Zuckerberg $META and Bezos $AMZN pic.twitter.com/Bp3UKc65fX — Barchart (@Barchart) May 10, 2024
Selling a home is now so profitable that many more Americans are getting hit with an unexpected tax bill. Roughly 8% of 2023 home sales brought windfalls over the $500,000 limit for couples to be exempt from capital-gains taxes, more than double the share in 2019, according to CoreLogic, a real-estate data firm. More sellers …
On Tuesday, weekly car insurance data for China was released, indicating that Tesla sold 11,000 vehicles in the country from April 29 to May 5. This includes 600 units of the revamped Model 3, with the remaining 10,400 units being Model Y. Comparing to the same week last year, Tesla registrations were 96 percent higher, up from …
The AI chip market faces a significant downturn with net sales plummeting by nearly 25% sequentially and over 40% compared to the previous year. Amidst inflationary pressures and concerns over misdirected investments, every chip company is being labeled as an AI play, raising doubts about the sustainability of the market. https://twitter.com/GregCrennan/status/1787580544479572371 Every chip company is …
In a quarter marked by challenges, Apple’s latest financial report unveils a surprising resilience, defying expectations and igniting investor enthusiasm. Despite a turbulent market and fierce competition, the tech giant showcases strength in key sectors, signaling enduring potential amidst adversity. Key points: Apple’s second-quarter results surpassed expectations, with sales declining less than anticipated and profits …
Misses got punished much more than usual pic.twitter.com/AnATDa9i5W — Win Smart, CFA (@WinfieldSmart) April 29, 2024 $SPY and $QQQ short interest falls to the lowest level in AT LEAST the last 6 years, according to JP Morgan pic.twitter.com/2mn9NsdjJ1 — Win Smart, CFA (@WinfieldSmart) April 29, 2024 Normally when volatility explodes, bears can claim they were …
Tesla’s recent earnings stumble, coupled with its first year-over-year sales drop, casts a shadow over the electric vehicle giant. Despite bold initiatives like the Cybertruck launch and pricing adjustments, revenue plummeted by 9% in Q1, prompting investor alarm. Despite Tesla's efforts, including the launch of the Cybertruck and refreshing the Model 3 with lower prices …
by confoundedinterest17 Somehow, today’s Existing Home Sales number don’t soothe me. After the collapse in housing starts and permits in March, it is no surprise that existing home sales disappointed in the same month, dropping 4.3% MoM (-4.1% exp) after surging 9.5% in February. That is the biggest drop since Nov 2022. Sales were down almost 10% from a …
Despite a seemingly positive uptick in retail sales, recent data unveils a troubling reality: inflation’s pervasive impact on essential goods like food and energy. While headline figures may suggest economic resilience, deeper analysis reveals concerning trends, with nondiscretionary goods experiencing significant month-over-month price increases. The disparity between sectors, with gas stations and groceries recording notable …
BEIJING (AP) — China on Thursday announced rare sanctions against two U.S. defense companies over what it called their support for arms sales to Taiwan, the self-governing island democracy Beijing claims as its own territory to be recovered by force if necessary. The announcement freezes the assets of General Atomics Aeronautical Systems and General Dynamics …
Once again, the UK government shamelessly backs arms sales to Israel, fueling outrage amidst airstrikes and humanitarian crisis in Gaza. Despite mounting pressure, their review finds no reason to halt export licenses. Foreign Secretary Lord Cameron has confirmed that UK arms sales to Israel will not be suspended. The announcement follows mounting pressure on the …
Last December, wholesale retailer Costco announced that they had sold over $100 million worth of gold in Q3 2023. Now, Wells Fargo estimates that Costco “may now be running at” $100 million to $200 million per month in gold sales. “Our work suggests there has been significant interest given COST’s aggressive pricing and high level …
And who can blame them with inflation accelerating? pic.twitter.com/YRIyJbfCt3 — Michael J. Kramer (@MichaelMOTTCM) April 9, 2024 US small-business optimism dropped to a more than 11-year low in March as sales expectations slumped and inflationary pressures remained a trouble spot, according to the National Federation of Independent Business. The index of sentiment fell 0.9 point …
A group of Republican Wyoming lawmakers want to phase out the sale of electric vehicles in the Cowboy State by 2035, saying the move will help safeguard oil and gas industries. The bill, introduced into the state legislature on Friday, claims electric vehicles will hinder Wyoming’s ability to trade with other states. “Wyoming’s vast stretches of highway, coupled with a lack of electric …
A majority of voters in Britain back a ban on arms sales to Israel, according to a YouGov poll. One of the first up-to-date assessments of whether Israel is losing public support in key allied states, the research also suggests most people believe the Israeli government is violating human rights in Gaza. The loss of …
It’s taken 7 lives of citizens from western countries for the mainstream media say we should suspend the sale of arms to Israel… This comes after Israel has taken the lives of 35,000 Palestinians including over 15,000 children… This proves it’s not just Israel that has been… pic.twitter.com/6vvFA32GUf — Pelham (@Resist_05) April 3, 2024 ❓Can …
JUST IN: Home owners in the UK have been told that "compulsory selling of home" will be enforced to house illegal migrants … Elderly people are being told their houses are too big for them and they need to sell. This must be a joke. 🚨🚨🚨 pic.twitter.com/nswNL2yzKl — Wall Street Mav (@WallStreetMav) April 2, 2024 …
Tesla published its first-quarter vehicle production and deliveries report on Tuesday showing deliveries of 386,810, a steep drop from the same quarter last year. According to a mean of 11 estimates compiled by FactSet, analysts were expecting deliveries of around 457,000 for the first three months of the year. This was Tesla’s first year-over-year decline in deliveries …
In the realm of economic indicators, recent trends in the US retail sector are sending warning signals. Real retail sales have declined by 1.6% year over year, a concerning downturn that historically precedes a recession. Moreover, the stagnation in retail sales is mirrored by a surge in unsold new-build inventory, indicative of weakening consumer demand. …
Why did the Bud Light boycott affect the beer brand’s sales when many other boycotts have only marginal or short-term impact? An analysis of sales data confirms that Bud Light suffered a sustained downturn in sales, more pronounced in Republican-leaning counties in the U.S. And it explains several factors that determine how vulnerable a brand …
Its CEO, Michael Dell, sold shares worth $465 mln in March (source: FinFab app for iPhone): h/t ChampionshipUsed9855