Only days until money runs out - will the government shot-down?
Markets on the herky-jerky, thanks to the Fed and Mr. Powell.
Major retail earnings out this week - winners and losers.
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
- 4-days until shut- down / anyone care? (Shut up about shut-down already
- Moody's angry - Moves US rating outlook
- Croc's CTP Still Open of Entries|
- Thanksgiving - What are we doing - menu items!
- BOOM! CPI dips a bit ad market RAMP (KRE up 7% IWM up 5%+)
Market Update
- Herky Jerky - Thanks to Fed
- Big names continue to push up index values
- KRI +2 Slight Overheating
- Retailers earnings this week, Walmart, Target Etc
-- Consumers in the spotlight
Moody's
- Moody's on Friday changed the outlook on the government of United States of America's ratings to "negative" from "stable".
- The rating agency said it expects United States' fiscal deficits will remain very large, significantly weakening debt affordability.
- Moody's affirmed the long-term issuer and senior unsecured ratings at "Aaa".
- Another wake up call to the administration/govy of US to get their shot together.
Fed
- Powell was in push-0back mode on Thursday on a speech that he clearly stated that there is probably more work to be done to conquer inflation
- "If it becomes appropriate to tighten policy further, we will not hesitate to do so," Powell cautioned a market still betting both that rate hikes are done and that three cuts are coming next year, starting as soon as June.
- Same day as the Bond market glitch, which as problematic
- Not to worry, by Firiday no-one believed Powell an ran markets up hard (one of the best days for NAZ100 in 2023
Consumers
- The consumer took a spending break ahead of the holiday season, with October retail sales, excluding autos and gas, falling by 0.08%, and core retail, which also removes restaurants, declining by 0.03% (CNBC Monitor)
- The October data showed weakness in gas station sales, electronics and appliances and furniture and home stores. There was strength in sporting goods and hobby stores and non-store retails, or internet sales, along with health and personal care.
Ransonware Attack - Biggest bank
- Could this be the reason Treasury auction last Thursday was so weak (smacking down markets)
- Sources told Bloomberg that ICBC Financial Services, a U.S. subsidiary of Industrial and Commercial Bank of China, relied on the offline system to process trades of U.S. Treasuries after it was hit by a ransomware attack on Wednesday.
- It could take days to reconnect ICBC to the electronic settlement system, Reuters reported.
- Analysts say the attack, which disrupted the U.S. Treasury market on Thursday, was likely the work of LockBit, a Russia-linked criminal gang that was also accused of hacking Boeing earlier this year. Today, the group claimed responsibility in messages to reporters.
Planes!
- Emirates Airline on Monday announced an order for 95 Boeing aircraft at a value of $52 billion, kicking off the first major deal of the 2023 Dubai Airshow.
- The state-owned flagship Dubai carrier, a subsidiary of Emirates Group, is ordering 55 additional Boeing 777-9s and 35 of its 777-8s, bringing the airline's total orders for the 777X widebody jets to 205 units. It is also updating its order of Boeing 787 Dreamliners from 30 to 35, comprised of 15 787-10s and 20 787-8s.
- Being up 3% on the news
Interesting...
- Exxon aims to become a top lithium producer for electric vehicles with Arkansas drill operation
- Exxon earlier this year purchased 120,000 acres of a geological site in southern Arkansas called the Smackover Formation that is rich in lithium.
Markets on the herky-jerky, thanks to the Fed and Mr. Powell.
Major retail earnings out this week - winners and losers.
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
- 4-days until shut- down / anyone care? (Shut up about shut-down already
- Moody's angry - Moves US rating outlook
- Croc's CTP Still Open of Entries|
- Thanksgiving - What are we doing - menu items!
- BOOM! CPI dips a bit ad market RAMP (KRE up 7% IWM up 5%+)
Market Update
- Herky Jerky - Thanks to Fed
- Big names continue to push up index values
- KRI +2 Slight Overheating
- Retailers earnings this week, Walmart, Target Etc
-- Consumers in the spotlight
Moody's
- Moody's on Friday changed the outlook on the government of United States of America's ratings to "negative" from "stable".
- The rating agency said it expects United States' fiscal deficits will remain very large, significantly weakening debt affordability.
- Moody's affirmed the long-term issuer and senior unsecured ratings at "Aaa".
- Another wake up call to the administration/govy of US to get their shot together.
Fed
- Powell was in push-0back mode on Thursday on a speech that he clearly stated that there is probably more work to be done to conquer inflation
- "If it becomes appropriate to tighten policy further, we will not hesitate to do so," Powell cautioned a market still betting both that rate hikes are done and that three cuts are coming next year, starting as soon as June.
- Same day as the Bond market glitch, which as problematic
- Not to worry, by Firiday no-one believed Powell an ran markets up hard (one of the best days for NAZ100 in 2023
Consumers
- The consumer took a spending break ahead of the holiday season, with October retail sales, excluding autos and gas, falling by 0.08%, and core retail, which also removes restaurants, declining by 0.03% (CNBC Monitor)
- The October data showed weakness in gas station sales, electronics and appliances and furniture and home stores. There was strength in sporting goods and hobby stores and non-store retails, or internet sales, along with health and personal care.
Ransonware Attack - Biggest bank
- Could this be the reason Treasury auction last Thursday was so weak (smacking down markets)
- Sources told Bloomberg that ICBC Financial Services, a U.S. subsidiary of Industrial and Commercial Bank of China, relied on the offline system to process trades of U.S. Treasuries after it was hit by a ransomware attack on Wednesday.
- It could take days to reconnect ICBC to the electronic settlement system, Reuters reported.
- Analysts say the attack, which disrupted the U.S. Treasury market on Thursday, was likely the work of LockBit, a Russia-linked criminal gang that was also accused of hacking Boeing earlier this year. Today, the group claimed responsibility in messages to reporters.
Planes!
- Emirates Airline on Monday announced an order for 95 Boeing aircraft at a value of $52 billion, kicking off the first major deal of the 2023 Dubai Airshow.
- The state-owned flagship Dubai carrier, a subsidiary of Emirates Group, is ordering 55 additional Boeing 777-9s and 35 of its 777-8s, bringing the airline's total orders for the 777X widebody jets to 205 units. It is also updating its order of Boeing 787 Dreamliners from 30 to 35, comprised of 15 787-10s and 20 787-8s.
- Being up 3% on the news
Interesting...
- Exxon aims to become a top lithium producer for electric vehicles with Arkansas drill operation
- Exxon earlier this year purchased 120,000 acres of a geological site in southern Arkansas called the Smackover Formation that is rich in lithium.
Activity