We have some insights from Powell's latest speech.
China - trying to talk up markets.
Big week for eco data - the softer, the better.
PLUS we are now on Spotify and Amazon Music/Podcasts!
Click HERE for Show Notes and Links
DHUnplugged is now streaming live - with listener chat. Click on link on the right sidebar.
Love the Show? Then how about a Donation?
Follow John C. Dvorak on Twitter
Follow Andrew Horowitz on Twitter
Warm Up
- Powell Said - NOTHING NEW, Nothing Old, Nothing Really
- Unions are next concern for inflation (wages)
- Airlines weighing people
- Big week for ECO - investors hoping for some weak numbers
Market Update
- China - Stock Market Support - Govy Trying
- markets up last week 0- broke a couple week down streak
- End of month - markets watching for employment data this week (Friday)
- Players hitting the ask on high-flyers
- ESG - not for $
- Crypto Moving on court rulling
SPECIAL EPISODE -666. We are asking you for your support on this devlish episode 666 - Donate exactly 66.60 - BUT Donors that go out for the big $666 will get a copy of Too Many Eggs hardcopy - that is well worth it.
Big Bounce - Fed threads the needle again
- Or the algos set to just buy as Fed talks
- Butting up against resistance
- Looks more like oversold bounce into end of month
Yields
- 10-Year - drops to 4.25 from 4.45%
- Plenty arguing that the latest move was a top in rates
- Avg mortgage rate tops 7%
Yields - Tuesday Drop
- Yeilds and USd dumping after soft JOLTs report
- This is a good JOLTS report from the Fed's perspective. The labor market is cooling. U.S. job openings decreased to 8.8 million (lower than consensus expectations of 9.5), the lowest since March 2021. The mismatch between labor demand (openings) & labor supply (hired) narrowed.
- Growht names moving up - dragging entire market with them
Unions
- Pushing hard for wage hikes
- Big increase for pilots and UPS drivers recently
- UAW President is looking for proposals that include: (or threat of a strike) - Ford GM and Stellantis
- - 46% raise
---- 32 hour work week
--- Return to traditional pensions
- Recently won a 25% pay hike for workers at Ohio EV factory
Crypto in the News
- Appeals court ruling against SEC in Grayscale spot bitcoin ETF case - so the idea is that there will be a more accessible way to invest in bitcoin (like it is not now) |- Could be included in peions
- Grayscale Trusts: GBTC +18%, ETHE +14%, GDLC +22%... Crypto Miners: MARA +17%, GREE +17%, HUT +16%, RIOT +15%, BITF +14%, SDIG +14%... Others with Crypto exposure: COIN +13.5%, MSTR +7.7%, NVDA +3%
ECO This Week
- Wednesday
--- ADP Emplyment Change - (180k)
--- GDP (2) 2.4%
- Thursday
---- PCE Inflation 0.2% (MoM)*
- Friday
--- Non Farm Payrolls 185k /3.6%
--- ISM Manufacturing
---Average Hourly earnings 0.3% MoM
China - manipulated market
- China's stock market in disarray
- China Evergrande reopens after 17 month tradig halt (Stock plunges 80%)
- Government starting to talk up market - been in a funk for a while
--- Reduces stamp duty on stock transactions and other measures to boost confidence (and approves dozens of new funds for investing over weekend)
---- Stock market (CSI 300) opened up 5.5% but trended lower all day Monday (closed up 1.5%)
- Lenders and Developer hardships spooking investors AND draining their finances
More China
- China's foreign ministry said on Monday that inbound travelers to the country no longer need a pre-departure antigen test for COVID-19 from Aug. 30.
- US study shows that the abrupt end to Covid restrictions last year may have caused an excess of 2 million deaths.
--- Study showed an estimated 1.87 million excess deaths from all causes occurred among people over 30 years of age between December 2022 and January 2023, and were observed in all provinces in mainland China (China said a total of 55,
China - trying to talk up markets.
Big week for eco data - the softer, the better.
PLUS we are now on Spotify and Amazon Music/Podcasts!
Click HERE for Show Notes and Links
DHUnplugged is now streaming live - with listener chat. Click on link on the right sidebar.
Love the Show? Then how about a Donation?
Follow John C. Dvorak on Twitter
Follow Andrew Horowitz on Twitter
Warm Up
- Powell Said - NOTHING NEW, Nothing Old, Nothing Really
- Unions are next concern for inflation (wages)
- Airlines weighing people
- Big week for ECO - investors hoping for some weak numbers
Market Update
- China - Stock Market Support - Govy Trying
- markets up last week 0- broke a couple week down streak
- End of month - markets watching for employment data this week (Friday)
- Players hitting the ask on high-flyers
- ESG - not for $
- Crypto Moving on court rulling
SPECIAL EPISODE -666. We are asking you for your support on this devlish episode 666 - Donate exactly 66.60 - BUT Donors that go out for the big $666 will get a copy of Too Many Eggs hardcopy - that is well worth it.
Big Bounce - Fed threads the needle again
- Or the algos set to just buy as Fed talks
- Butting up against resistance
- Looks more like oversold bounce into end of month
Yields
- 10-Year - drops to 4.25 from 4.45%
- Plenty arguing that the latest move was a top in rates
- Avg mortgage rate tops 7%
Yields - Tuesday Drop
- Yeilds and USd dumping after soft JOLTs report
- This is a good JOLTS report from the Fed's perspective. The labor market is cooling. U.S. job openings decreased to 8.8 million (lower than consensus expectations of 9.5), the lowest since March 2021. The mismatch between labor demand (openings) & labor supply (hired) narrowed.
- Growht names moving up - dragging entire market with them
Unions
- Pushing hard for wage hikes
- Big increase for pilots and UPS drivers recently
- UAW President is looking for proposals that include: (or threat of a strike) - Ford GM and Stellantis
- - 46% raise
---- 32 hour work week
--- Return to traditional pensions
- Recently won a 25% pay hike for workers at Ohio EV factory
Crypto in the News
- Appeals court ruling against SEC in Grayscale spot bitcoin ETF case - so the idea is that there will be a more accessible way to invest in bitcoin (like it is not now) |- Could be included in peions
- Grayscale Trusts: GBTC +18%, ETHE +14%, GDLC +22%... Crypto Miners: MARA +17%, GREE +17%, HUT +16%, RIOT +15%, BITF +14%, SDIG +14%... Others with Crypto exposure: COIN +13.5%, MSTR +7.7%, NVDA +3%
ECO This Week
- Wednesday
--- ADP Emplyment Change - (180k)
--- GDP (2) 2.4%
- Thursday
---- PCE Inflation 0.2% (MoM)*
- Friday
--- Non Farm Payrolls 185k /3.6%
--- ISM Manufacturing
---Average Hourly earnings 0.3% MoM
China - manipulated market
- China's stock market in disarray
- China Evergrande reopens after 17 month tradig halt (Stock plunges 80%)
- Government starting to talk up market - been in a funk for a while
--- Reduces stamp duty on stock transactions and other measures to boost confidence (and approves dozens of new funds for investing over weekend)
---- Stock market (CSI 300) opened up 5.5% but trended lower all day Monday (closed up 1.5%)
- Lenders and Developer hardships spooking investors AND draining their finances
More China
- China's foreign ministry said on Monday that inbound travelers to the country no longer need a pre-departure antigen test for COVID-19 from Aug. 30.
- US study shows that the abrupt end to Covid restrictions last year may have caused an excess of 2 million deaths.
--- Study showed an estimated 1.87 million excess deaths from all causes occurred among people over 30 years of age between December 2022 and January 2023, and were observed in all provinces in mainland China (China said a total of 55,
Activity