yeah - noticed that last night - seems to haver recovered prior to the open
(y)
oooops...down 16 today.....good thing you gave them away as a wedding gift....or did you?? hmmmm
The stock market
CommodoreOriginal Crew12,530 postsSince 2018
Sept and OCT can be very spooky....maybe test those 3600 june lows and ramp into the end of the year. Especially if that inflation level gets closer to the 2% the fed is aiming for and housing cools off some more. So far the FEDS plan is working because some don't know the idea is too tame prices and force a recession...just a matter of a hard or soft landing....SOFT being preferred
we will at least test those LOWSSSSSSSSSS
CommodoreOriginal Crew12,530 postsSince 2018
[URL unfurl="true"]https://www.foxbusiness.com/politics/powell-bracing-americans-job-loss-inflation-fight-continues-atlanta-fed-president[/URL]
Following Federal Reserve Chair Jerome [Powell’s hawkish message]('https://www.foxbusiness.com/economy/feds-powell-pledges-tackle-inflation-forcefully-warns-economic-pain') at the annual Jackson Hole symposium, Atlanta’s Fed Bank President Raphael Bostic expanded on the economic "pain" Americans should brace for.
"I think the chair was trying to prepare people for the possibility that as the economy slows down, we might have some job loss and we might have some slow down in business, but we don't know exactly how much there will be," Bostic told FOX Business’ Edward Lawrence in an interview on "[Varney & Co.]('https://www.foxbusiness.com/shows/varney-co')" Friday.
"I don't think it's in our interest to have people be surprised if that comes to pass."
NO SURPRISE!
AdmiralOriginal Crew20,417 postsSince 2019
People have no clue lol
We have to take our medicine for the SINS of the past
CommodoreOriginal Crew12,530 postsSince 2018
where is the market going Monday you ask?
CommodoreOriginal Crew12,530 postsSince 2018
Lots of unnecessary PAIN!
don't know about that - something needed to be done - what doesn't kill you makes you stronger sorta thing..................
"Well, it's alright.
.............even if you're old and gray."
"Well, it's alright.
............you still got something to say."
.............even if you're old and gray."
"Well, it's alright.
............you still got something to say."
AdmiralOriginal Crew20,900 postsSince 2018
trying to blunt inflation
something is being done...it's working.....and more medicine will come. As usual it always falls on a certain 'group" to fix the problem. Going back to zero interest rate during covid just put the PAIN into the future...well this is the FUTURE. When the traders come back after labor day they will tell us the market direction for sept and oct
CommodoreOriginal Crew12,530 postsSince 2018
August is about to come to a close, which means that the summer is almost over in the Northern Hemisphere. (Have fun in the sun, Australia!) If that's not enough to bum you out, then this might: September, which begins on Thursday, is historically the [worst month of the year for the stock market.]('http://www.cnn.com/2021/09/01/investing/stock-market-september/index.html')
The [Dow]('https://money.cnn.com/data/markets/dow') and [S&P 500]('https://money.cnn.com/data/markets/sandp') fell sharply in September last year and in 2020, even though the broader market rallied in both years. That doesn't mean stocks are doomed to finish this September in the red, of course. Stocks rallied in each of the three Septembers prior to the pandemic.
But here's another potentially ominous sign: This is a midterm election year. The Dow has fallen in 11 out of the last 18 pre-midterm Septembers going back to 1950, according to data from The Stock Trader's Almanac.
So don't count on past performance to dictate future results. At the end of the day, investors should focus on fundamentals instead of dates on the calendar. Earnings, the economy and Federal Reserve interest rate policy will matter far more to stock performance than what month it is.
Still, there's reason to be nervous.
The Fed's next meeting about rate hikes is on September 21. Several key economic reports are on tap that will give investors more clues about the health of the job market and whether inflation pressures are abating. Congress will be back in session just after Labor Day as well.
CommodoreOriginal Crew12,530 postsSince 2018
The era of ever-rising prices may be over.
Hopes that [inflation]('https://www.forbes.com/advisor/investing/what-is-inflation/') has begun to moderate gained steam after the Labor Department reported that the consumer price index (CPI) was relatively unchanged in July compared to June.
“This is a good number,” said Rusty Vanneman, chief investment strategist at Orion Advisor Solutions. “If this is truly the peak in inflation, this could officially signal an economic tide shift that both consumers and investors can appreciate.”
Still, the positive report doesn’t mean everything has suddenly become cheap. The CPI rose 8.5% in July compared to the prior year. While that’s an improvement from last month, it’s still very high.
The main reason for prices leveling off: energy. The gas price index fell by 7.7% in the month, which helped to overcome increases in the costs of food and housing.
In a twist, the news was worse for so-called core CPI, which strips out volatile food and energy prices, where prices gained by 0.3% in the month, and are 5.9% higher than last year.
The inflation report comes after the [Federal Reserve]('https://www.forbes.com/advisor/investing/fomc-meeting-federal-reserve/') raised interest rates to a range of 2.25%–2.5%, a dramatic increase in a short period. While this report won’t stop the Fed from increasing rates further, it may give the nation’s central bank hope that they’re making progress.
“The deceleration in the consumer price index for July is likely a big relief for the Federal Reserve, especially since the Fed insisted that inflation was transitory, which was incorrect,” said Nancy Davis, founder of Quadratic Capital Management.
CommodoreOriginal Crew12,530 postsSince 2018
with this being the leading article on Yahoo Finance - tomorrow should just be a wonderful day for the Market....
:rolleyes:
[URL unfurl="true"]https://finance.yahoo.com/news/what-walmart-sales-and-rolex-prices-reveal-154833340.html[/URL]
[[IMG alt="Yahoo Finance"]https://s.yimg.com/ny/api/res/1.2/oNcxjAfRAXvvfIpl8z3IAg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTE5NDtoPTQw/https://s.yimg.com/os/creatr-uploaded-images/2020-12/02246f50-3412-11eb-bfdd-de89f8b3b8b8[/IMG]]('http://finance.yahoo.com/')
[HEADING=2]Inflation: Higher income Americans are pulling back on spending[/HEADING]
This story was originally published on [Tker.com]('https://www.tker.co/p/high-income-household-spending-down?utm_source=substack&utm_medium=email').
You might expect high-income households to fare relatively well during challenging economic periods. But they too are changing the way they spend as [inflation]('https://www.tker.co/p/july-cpi-inflation-expectations-gas-prices') eats away at purchasing power.
Consider this anecdote about Walmart evolving customer mix (via [CNBC]('https://www.cnbc.com/2022/08/16/walmart-wmt-earnings-q2-2023.html')):
More high-income consumers, penny-pinching
Some of Walmart’s sales gains came from inflation, which is driving up prices of food and other items. It also got a boost as families across income levels shopped at its stores and website.Chief Financial Officer John David Rainey told CNBC the retailer’s reputation as a discounter is attracting more middle- and high-income shoppers. About three-quarters of Walmart’s market share gains in food came from customers with annual household incomes of $100,000 or more.
This is not an anomaly.
According to [The Bank of America Institute]('https://business.bofa.com/content/dam/flagship/bank-of-america-institute/economic-insights/are-state-tax-changes-bolstering-the-consumer-august-2022.pdf'), spending among households earning more than $125,000 has declined over the last three consecutive months.
BofA notes that the deterioration in spending for higher-income households was more pronounced in discretionary categories (emphasis added):
*We take a look at the indexed level of spending for airline and lodging instead of the %YoY rates given that the %YoY rates are distorted by base effects from last year as the surge of the Delta variant depressed spending. As Exhibit 6 shows, airline spending per household for both the lower and higher income groups peaked in March as consumers booked summer vacations, but has leveled off in recent months, though **the moderation seems to be more noticeable for the higher income households. Similarly, lodging spending per household for higher income consumers seems to be returning to its April average while that of the lower income is still 10% higher** than its April average as of the week ending August 13.*
Story continues at the above link if you so care.............
"Well, it's alright.
.............even if you're old and gray."
"Well, it's alright.
............you still got something to say."
.............even if you're old and gray."
"Well, it's alright.
............you still got something to say."
AdmiralOriginal Crew20,900 postsSince 2018
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