Cut taxes on SS and Tips?
President decides rates?
China - inflation ticking up
YEN volatility - NOT OVER
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
DONATIONS ?
Warm Up
- Cut taxes on SS and Tips?
- President decides rates?
- China - inflation ticking up
- YEN volatility - NOT OVER
- Announcing the WINNER for the UNH CTP
Market Update
- CRISIS AVERTED
- August doldrums - but big week of Eco Data
- Market Punishing earnings misses - more than usual
- Same old = going back to the Mega-Cap trade while pulling other sectors down
- PPI out - changing direction
Crisis Averted
- Monday (last) Yen plunge then pick up - Come on
- Japan markets fell 12% then rallied 10% - intervention anyone?
--- Clearly there is an invisible hand at work here
---- Plus Japan officials waled back their "hawkish" comments
---- 17 years of ZERO or NEGATIVE rates, markets don't want to give that up
--- Do you know why this is all happy pappy now? How did they resolve the 2 day crisis? (Hint - $$$$)
- Japanese markets have recovered ALL of the losses since last Monday - ALL
Volume/Vacations - August
- Volumes are down across the board. Aside from a couple of days when markets moved lower
- Will probably continue to see slow markets (unless some outside shock) through Labor Day
- However - big week of ECO data
- - CPI, PPI, UMich, Import/Export prices, Retail Sales (no one has a clue what the trajectory is from here)
Month to Date
MTD
IWN
iShs Russell 2000 Value ETF
-7.87%
IWM
iShs Russell 2000 ETF
-7.10%
IWO
iShs Russell 2000 Grwth ETF
-6.15%
IWD
iShs Russell 1000 Val ETF
-2.45%
IWB
iShs Russell 1000 ETF
-1.68%
IWF
iShs Russell 1000 Gwth ETF
-1.00%
Really?
- Former President Donald Trump this week repeated his plan to eliminate taxes on Social Security benefits for seniors.
- The Republican nominee called for "no tax for seniors on Social Security" during a "Fox & Friends" interview Wednesday
- Of course Harris/Walz also want to cut taxes on SS now...
***** Some "experts" say that this will hurt the solvency of SS and Medicare even more - now expected to run out in 2035
--- Oh - let's eliminate taxes on TIPS
---- The Waiters & waitresses workforce and tipped in service industry are about 4 Million people (1% of population
Where do we stand on this..
- Presidents having a direct say - or vote - on Fed decisions?
Switcher-rooo
- Chipotle Mexican Grill announces that Brian Niccol, Chairman and CEO has accepted the role as Chairman and Chief Executive Officer of Starbucks (SBUX) and will be leaving the Company effective August 31, 2024
- -On the news, SBUX up 17% and CMG down 10%
China
- China's consumer prices rose by a more-than-expected 0.5% in July from a year ago, according to data from the National Bureau of Statistics released Friday.
- Analysts polled by Reuters had expected a slight pickup in the consumer price index to 0.3% in July from a year ago, versus 0.2% in June.
- Is this good news or bad?
PPI
- July Core PPI 0.0% vs. 0.2% Briefing.com consensus; prior revised to 0.3% from 0.4%
-- Disinflation is speeding up - nearing DEFLATION concerns
- Tomorrow - CPI
Another one...
- Home Depot on Tuesday topped quarterly expectations, but cautioned that sales will be weaker than expected in the back half of the year as high interest rates and consumer uncertainty dampen demand.
- The home improvement retailer said it now expects full-year comparable sales to decline by 3% to 4% compared to the prior fiscal year. It had previously expected comparable sales, a metric that takes out the impact of store openings and closures and other one-time factors,
President decides rates?
China - inflation ticking up
YEN volatility - NOT OVER
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
DONATIONS ?
Warm Up
- Cut taxes on SS and Tips?
- President decides rates?
- China - inflation ticking up
- YEN volatility - NOT OVER
- Announcing the WINNER for the UNH CTP
Market Update
- CRISIS AVERTED
- August doldrums - but big week of Eco Data
- Market Punishing earnings misses - more than usual
- Same old = going back to the Mega-Cap trade while pulling other sectors down
- PPI out - changing direction
Crisis Averted
- Monday (last) Yen plunge then pick up - Come on
- Japan markets fell 12% then rallied 10% - intervention anyone?
--- Clearly there is an invisible hand at work here
---- Plus Japan officials waled back their "hawkish" comments
---- 17 years of ZERO or NEGATIVE rates, markets don't want to give that up
--- Do you know why this is all happy pappy now? How did they resolve the 2 day crisis? (Hint - $$$$)
- Japanese markets have recovered ALL of the losses since last Monday - ALL
Volume/Vacations - August
- Volumes are down across the board. Aside from a couple of days when markets moved lower
- Will probably continue to see slow markets (unless some outside shock) through Labor Day
- However - big week of ECO data
- - CPI, PPI, UMich, Import/Export prices, Retail Sales (no one has a clue what the trajectory is from here)
Month to Date
MTD
IWN
iShs Russell 2000 Value ETF
-7.87%
IWM
iShs Russell 2000 ETF
-7.10%
IWO
iShs Russell 2000 Grwth ETF
-6.15%
IWD
iShs Russell 1000 Val ETF
-2.45%
IWB
iShs Russell 1000 ETF
-1.68%
IWF
iShs Russell 1000 Gwth ETF
-1.00%
Really?
- Former President Donald Trump this week repeated his plan to eliminate taxes on Social Security benefits for seniors.
- The Republican nominee called for "no tax for seniors on Social Security" during a "Fox & Friends" interview Wednesday
- Of course Harris/Walz also want to cut taxes on SS now...
***** Some "experts" say that this will hurt the solvency of SS and Medicare even more - now expected to run out in 2035
--- Oh - let's eliminate taxes on TIPS
---- The Waiters & waitresses workforce and tipped in service industry are about 4 Million people (1% of population
Where do we stand on this..
- Presidents having a direct say - or vote - on Fed decisions?
Switcher-rooo
- Chipotle Mexican Grill announces that Brian Niccol, Chairman and CEO has accepted the role as Chairman and Chief Executive Officer of Starbucks (SBUX) and will be leaving the Company effective August 31, 2024
- -On the news, SBUX up 17% and CMG down 10%
China
- China's consumer prices rose by a more-than-expected 0.5% in July from a year ago, according to data from the National Bureau of Statistics released Friday.
- Analysts polled by Reuters had expected a slight pickup in the consumer price index to 0.3% in July from a year ago, versus 0.2% in June.
- Is this good news or bad?
PPI
- July Core PPI 0.0% vs. 0.2% Briefing.com consensus; prior revised to 0.3% from 0.4%
-- Disinflation is speeding up - nearing DEFLATION concerns
- Tomorrow - CPI
Another one...
- Home Depot on Tuesday topped quarterly expectations, but cautioned that sales will be weaker than expected in the back half of the year as high interest rates and consumer uncertainty dampen demand.
- The home improvement retailer said it now expects full-year comparable sales to decline by 3% to 4% compared to the prior fiscal year. It had previously expected comparable sales, a metric that takes out the impact of store openings and closures and other one-time factors,
Activity