Watching next week looking for a bit of a sell off to get in something. Nothing goes 700 points and continues. If it does then it will a day or so more.
The Treasury is about to dump $170 billion worth of treasury bonds on the market on Monday (June 5th)
Michael Wilson and his team of strategists at Morgan Stanley predict a downturn in U.S. corporate earnings and, consequently, in equities averages. They attribute this anticipated slump to several factors, including the expectation that the Federal Reserve won’t ease policy this year, the projected liquidity crunch as the Treasury sells bonds to replenish its funds, and concerns about the sustainability of growth. They predict a 16% year-over-year drop in S&P 500 EPS in 2023, followed by a sharp rebound in 2024, given their view that policy will become more accommodating in 2024 rather than in 2023. Their 12-month S&P 500 target is 4,200, with a base case end-2023 target of 3,900.
ISM reports add to US recession fears | Article | ING Think The mixed data for the US economy continue, the labor market remains strong but the ISM is starting to show signs of a slowdown ahead
Stocks End Mixed After Bank of Canada's Surprise Rate Hike | Kiplinger We got a surprise hike from Australia earlier this week and then Canada again today, might remind people that the FED might not be done hiking rates even if they pause this week
Shares rise, Treasury yields fall as US jobless claims surge | Reuters Well looks like the story today is the weak jobless claims numbers helping to push yields lower and equities higher
Analysis: For Musk and other foreign CEOs visiting China, silence is golden | Reuters TSLA pretty much going up non stop ever since Musk is visiting China
FSMN - Unusual Whales on Twitter: "S&P 500 RISES 20% FROM OCTOBER LOW TO ENTER BULL MARKET $SPY" / Twitter Tougher and tougher to argue it is just a bear market rally I guess
GM and Tesla partner on EV charging network, following Ford (cnbc.com) TSLA rallying further after this news
Fear & Greed Index is over 75. Good time to look at interesting shorts. eg CRI as a play on birth rates declining...DIS is at a gap resistance...any others? I don't want to hear NVDA here lol, I see that enough on Reddit. All it is doing is consolidating this month.
On Friday, UPS will vote to authorize a strike. The strike will not go into effect until August 1, and that is only if they do not get a contract by then. But until then, there'll be a new thing for people to worry their asses off.
Be careful. The VIX is up +7% today. And the new VIX1D is +38%. CPI comes out tomorrow, and PPI on Wednesday.
