US PPI Final Demand (M/M) Jul: 0.1% (est 0.2%; prev 0.2%)
– PPI Ex Food And Energy (M/M) Jul: 0.0% (est 0.2%; prev 0.4%)
– PPI Final Demand (Y/Y) Jul: 2.2% (est 2.3%; prev 2.6%)
– PPI Ex Food And Energy (Y/Y) Jul: 2.4% (est 2.6%; prev 3.0%)— LiveSquawk (@LiveSquawk) August 13, 2024
Futures on a tear this morning after Jul PPI prints slightly lower than expectations: headline 0.1% M/M, 2.2% Y/Y, core 0.0% M/M, 2.4% Y/Y – of course, the last four months were revised up in today's report, and that gets completely ignored b/c we're so obsessed w/ rate cuts… pic.twitter.com/ctTsubnm2D
— E.J. Antoni, Ph.D. (@RealEJAntoni) August 13, 2024
Breaking
PPI very cool. Especially on Core 🧊
Stocks liked the news but you have to worry that the economy is slowing rapidly.
Market doesn’t want to focus on that though.
Carry on. Let’s the open and if it holds. https://t.co/71QaVFZoVD
— QE Infinity (@StealthQE4) August 13, 2024
Another example of a large US corporation with no clue about the strong economy and strong consumer. I don't understand why they don't as Wall Street. pic.twitter.com/vyF7DHzTI1
— Charles V Payne (@cvpayne) August 13, 2024
🚨HOME DEPOT CUTS OUTLOOK
– Expects comparable sales to drop -3% to -4% this year (vs. -1% previously)
– Adjusted EPS projected to fall -1% to -3%
– Comparable sales down -3.3% —7th straight quarter of declines
With high interest rates and inflation, consumers are holding off… pic.twitter.com/hMhLG7TkJm
— Genevieve Roch-Decter, CFA (@GRDecter) August 13, 2024
Starbucks, $SBUX, since CEO Laxman Narasimhan was hired (and fired today):
1. 2 straight quarterly declines in revenue for first time since 2020
2. Same store sales in China fell 14% in ONE quarter
3. Nearly $40 billion in market cap was lost in $SBUX
4. US and international… pic.twitter.com/uby7XbFFsE
— The Kobeissi Letter (@KobeissiLetter) August 13, 2024
🚨U.S. Chapter 11 bankruptcies are SOARING:
– Total filings +34% YoY in first half of 2024
– Small business filings up +61% YoY
– June saw the highest corporate bankruptcies since 2020
Small and mid-sized businesses, especially in consumer discretionary sectors like clothing… pic.twitter.com/lm194RzIuq
— Genevieve Roch-Decter, CFA (@GRDecter) August 12, 2024
Caution on Hiring pic.twitter.com/eSMkrJcaxd
— Win Smart, CFA (@WinfieldSmart) August 13, 2024
Microsoft🪟
Bellwether .
Little more churn before letting go .
Technical poetry depicted.
Enjoy . pic.twitter.com/d8vWaMoEKB
— The Great Martis (@great_martis) August 12, 2024
Small business optimism rose in Jul to highest level since Feb '22, but that's a low bar – this was 31st month in a row below long-run average of 98 and far below pre-pandemic levels, or even late '20 readings; inflation, specifically labor costs, still crushing small firms: pic.twitter.com/4hHrQLdU3G
— E.J. Antoni, Ph.D. (@RealEJAntoni) August 13, 2024
Buckle up, here comes the inventory.
There is no demand pic.twitter.com/0qEZsyQvAG
— Darth Powell (@VladTheInflator) August 12, 2024