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Archives by Year:
Powell Says The US Really Needs To Fix The Unsustainable Deficit
Image source: Pixabay Fed Chair Jerome Powell says he is very worried about the deficit. “Large deficits at a time of full employment” are not sustainable. A bipartisan effort is needed.Powell speaks at the Economic Club of Washington D.C.Video Length: 00:42:20Starting at the 35:50 mark the interview got interesting.David Rubenstein: If you worry about inflation as […]
US Retailers Receive A Summer Boost
Image Source: Unsplash While auto and gasoline station sales fell heavily in June, there was significant strength elsewhere that provided an equal offset. It may be that the weather has boosted retail footfall as people try to escape the heat, but there are still challenges for the sector from weak real income growth, a run down […]
BoJ Appears To Have Intervened Last Friday Too, But Market Sells Yen Anyway
Image Source: Unsplash Overview: The US dollar is consolidating in narrow ranges against most of the G10 currencies. The Australian and New Zealand dollars, along with the Japanese yen are off by about 0.25%, but the others are +/- 0.10. The latest BOJ data appears to imply that officials intervened not only last Thursday, but Friday as […]
Will A Goldilocks Economy Keep The Stock Market Humming?
If the S&P 500 flatlines from current levels through Dec. 31, 2024, the market would still go into the history books as delivering yet another strong year on the basis of an 18.1% year-to-date rise through Monday (July 15). But the best may be yet to come, some Wall Street firms predict.Reuters reports that “Brokerages have raised […]
BREAKING: LI.FI hit with an exploit, nearly $10 million drained so far
Key Takeaways Li.fi protocol exploit has drained nearly $10 million, affecting users with infinite approvals. Experts suspect a call injection attack, urging users to revoke approvals immediately. Interoperability protocol Li.fi cautioned users not to interact with any applications using their infrastructure, as they are investigating a possible exploit underway. Only users that have manually set […]
New Homes “Seriously Unaffordable” In U.S.
The affordability of new homes sold in the United States was little changed in May 2024. With the mortgage payment for the typical new home sold consuming 43% of the income earned by a household in the exact middle of the distribution of income in the U.S., new homes remain out of affordable reach for […]
Elliott Wave Technical Analysis: Costco Wholesale Corp. – Tuesday, July 16
Image Source: Unsplash COST Elliott Wave Analysis Trading Lounge Daily Chart,Costco Wholesale Corp., (COST) Daily ChartCOST Elliott Wave Technical AnalysisFUNCTION: Counter Trend MODE: CorrectiveSTRUCTURE: ZigZagPOSITION: Wave A. DIRECTION: Downside in wave A. DETAILS: The upside seems completed, looking for a correction in what could have been a top in wave (5) or wave 1 of (5).COST Elliott Wave Analysis Trading Lounge […]
Better Than Expected Retail Sales
Futures were in the green ahead of the June Retail Sales report this morning as reactions to some of the more high-profile earnings reports were mixed. Shares of Bank of America (BAC) were modestly higher, but both Charles Schwab (SCHW) and Morgan Stanley (MS) were lower. Treasury yields and oil were both lower as gold […]
Bank Of America Shines In Q2 With $6.9 Billion Net Income And $0.83 EPS
Image Source: Pixabay Bank of America (BAC) reported a robust performance for the second quarter of 2024, with net income reaching $6.9 billion and earnings per diluted share (EPS) at $0.83. This represents a slight decrease from the $7.4 billion net income and $0.88 EPS reported in the same quarter of the previous year.The bank’s total revenue, […]
The UM Sentiment Survey Confirms Consumer Jitters
The University of Michigan consumer sentiment survey (UM) unexpectedly fell sharply a month ago after steadily improving. The report aligned with recent consumer surveys, retail sales data, and revenues from retail-oriented companies. Last Friday, the latest UM survey further confirmed a downshift in consumers’ sentiment. Let’s start with some perspective on the latest data. The July UM […]
