Tough to say anything other than this morning’s labor report is indicative of a continued strong labor market and a still ok economy. +260K adds to nonfarm payrolls, led by... read more →
Perhaps one way to try and digest yesterday’s Fed announcement and the subsequent Powell press conference is to quote President Harry Truman. When speaking about his own economic advisors, Truman... read more →
The good news is that October 2022 just registered the best monthly returns for the DJIA since 1976. The DJIA returned +13.95% for October 2022, besting both the SP500 (+8%... read more →
The market has done a reasonably good job this week shaking off some big, large cap tech earnings misses. Weak ad trends at GOOG and MSFT and then last night’s... read more →
Lots of bank earnings the past few days. I don’t see many surprises so far in what has been released: M&A activity down A LOT because the Fed is in hiking... read more →
Last Friday’s strong payroll report noted a robust and healthy labor market – which is the last thing the market wants to hear. The market wants to hear weakness and... read more →
This morning’s non-farm payroll report might have noted the weakest gain since April 2021 but there’s not enough damage in the labor market yet to cause the Fed to “pause”. ... read more →
Yesterday’s job openings (JOLTs) data notes a weakening in the labor market. Tighter financial conditions clearly starting to impact labor demand. Job openings fell by -1.1m openings, the single largest monthly decline... read more →
One of the commonly quoted measures of a recession is the ISM Manufacturing data going below a reading of 50. >50 means economic expansion and <50 means economic contraction. Yesterday’s ISM data... read more →
Fed chair Powell’s folly continues. It’s quite the body of work. First problem was doing nothing in 1Q22 as inflation was rising and the Fed kept money printing/bond buying. Second problem was... read more →