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Off-Topic Stock Market & Crypto Discussion

09:45USDS&P Global Composite PMI(May) 54.3-0.1054.554.5
09:45USDS&P Global Services PMI(May) 54.9-0.1255.155.1
10:00USDFactory Orders (MoM)(Apr) PREL 0.4% -0.250.5% 0.9%
10:00USDISM Services Employment Index(May) 49.2-0.865150.8
10:00USDISM Services New Orders Index(May) PREL 52.9-0.5756.556.1
10:00USDISM Services PMI(May) PREL 50.3-0.3451.551.9
10:00USDISM Services Prices Paid(May) PREL 56.2-0.5357.859.6
Still expanding, but at a lower rate.
 
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Jamie Dimon told House Democrats that Congress should ‘get rid of' the debt ceiling, source says​

Matt Egan
1 hour ago
Jamie Dimon JPMorgan Chase 0629 FILE

During a closed-door lunch on Tuesday, JPMorgan Chase CEO Jamie Dimon told moderate House Democrats that Congress should abolish the debt ceiling, a person familiar with the matter tells CNN.

"Get rid of it," Dimon told lawmakers of the debt ceiling, according to the source.

The meeting with the New Democrat Coalition comes just days after Congress passed a last-minute compromise to raise the debt limit before the government would have had to stop paying some bills.

During the lunch, Dimon described the debt ceiling as an "unmitigated disaster" and urged lawmakers to reform it to prevent future crises, the source told CNN.

A spokesperson for JPMorgan did not respond to a request for comment.…lol
 
Money pouring out of recession stocks. Is the market looking optimistic about future thinking companies?
 
TheEye said:
Money pouring out of recession stocks. Is the market looking optimistic about future thinking companies?
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“Don’t tase me bros”, but we might be in or heading into a bull mkt., especially if inflation declines with a pause from the Fed. Inflation at the current level, in the 4% range is better than a recession, that we are technically in.
The S&P is at the door of 4300..and we were discussing 3300 not too long ago. Say what you want, but the economy is strong. IMO the job market is booming with stay at home jobs from covid. The Vix is at 14.
Oil is low, though the Cartels are against us, and Costco reported the customers are switching to lower priced groceries and meat, which will bring down the higher priced items.
 
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I wonder why we are being held hostage by the cartels on oil. I can't put my finger on it.

I know we have hundreds of years of oil reserves on American soil, but...here we are being held hostage to oil cartels in the middle east....why is that?
 
We have enough oil, shale, natural gas and LNG to have enough to export. But when the oil cartels keep cutting production, it affects us all. Fortunately Russia and Iran keep prices down as that is their main export.
 
mr.h said:
We have enough oil, shale, natural gas and LNG to have enough to export. But when the oil cartels keep cutting production, it affects us all. Fortunately Russia and Iran keep prices down as that is their main export.
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They SHOULD have cut production 3 years ago, but didn’t for fear of other countries undercutting their prices. I do think we should be making an effort to encourage drilling and exploration so speculation on prices can be lowered.
 
TheEye said:
They SHOULD have cut production 3 years ago, but didn’t for fear of other countries undercutting their prices. I do think we should be making an effort to encourage drilling and exploration so speculation on prices can be lowered.
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Just remember when it comes to Oil, Nat gas and LNG, there are 3 stages.
1- upstream..where we drill and frack
2- midstream..where we transport it, like pipelines and tankers ,which needs constant maintenance.
3- downstream..where we process oil and gas. Refineries and liquidation plants need a lot of maintenance, and there lies the problem. We cannot process all we can produce….imo
 
mr.h said:
Just remember when it comes to Oil, Nat gas and LNG, there are 3 stages.
1- upstream..where we drill and frack
2- midstream..where we transport it, like pipelines and tankers ,which needs constant maintenance.
3- downstream..where we process oil and gas. Refineries and liquidation plants need a lot of maintenance, and there lies the problem. We cannot process all we can produce….imo
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No need to if the goal is to contribute to a globally traded commodity. A surplus in oil here means no more OPEC cuts there.
 
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07:30USDContinuing Jobless Claims(May 26) 1.757M-2.131.8M1.794M
07:30USDInitial Jobless Claims(Jun 2) 261K2.12235K233K
07:30USDInitial Jobless Claims 4-week average(Jun 2) 237.25K--229.75K
Initial Jobless claims up
Continuing jobless claims down.
 
TheEye said:
No need to if the goal is to contribute to a globally traded commodity. A surplus in oil here means no more OPEC cuts there.
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Russia, Iran and Venezuela are selling oil on the cheap. I don’t think the Saudis can stop that.
 
Yahoo finance:
Stocks entered a bull market on Thursday as investors digested fresh economic data ahead of next week's Federal Reserve meeting and a leadership shakeup at GameStop (GME).

The S&P 500 (^GSPC) rose 0.62% higher while the Nasdaq Composite (^IXIC) popped 1.02% and the Dow Jones Industrial Average (^DJI) pushed up 0.50% or 168 points. The S&P 500 has now increased more than 20% from its October 2022 lows and entered a bull market.
Tesla producing cars under $40,000.
 
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GladeCane said:
Not too late. Cathy woods of ARK, has made a call of over $1,000 per share. At first, I thought she was just pumping, but now not so sure.
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I can only believe it with two things:
1. New battery tech that scales better than liion without destroying the planet.

2. Robots or full self driving truly allow for the replacement of humans to scale GDP.
 
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90scane said:
I can only believe it with two things:
1. New battery tech that scales better than liion without destroying the planet.

2. Robots or full self driving truly allow for the replacement of humans to scale GDP.
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Tesla is the clear leader in battery technology and the cost scales to which Tesla can turn out cars from their Giga factories. Also, overlooked is their megapacks, which every utility in the country wants to get; and robo taxis which if anyone can pull it off it's Elon.
 
GladeCane said:
Tesla is the clear leader in battery technology and the cost scales to which Tesla can turn out cars from their Giga factories. Also, overlooked is their megapacks, which every utility in the country wants to get; and robo taxis which if anyone can pull it off it's Elon.
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#1 position.
 
mr.h said:
Russia, Iran and Venezuela are selling oil on the cheap. I don’t think the Saudis can stop that.
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They are also on a lot of country’s “do not buy” list. OPEC refused to cut production 3 years ago because they didn’t want to lose to other producers.
 
GladeCane said:
Tesla is the clear leader in battery technology and the cost scales to which Tesla can turn out cars from their Giga factories. Also, overlooked is their megapacks, which every utility in the country wants to get; and robo taxis which if anyone can pull it off it's Elon.
Click to expand...
Tesla actually isn’t much better with batteries. They are better at battery management. The end of the LiIon battery is coming. We can’t scale it enough due to the amount of mining needed for the minerals. They have adjusted the minerals used to produce more energy dense batteries at the risk of fires then use cooling tech to manage these risks.

There is zero doubt that Tesla is ready to grow and scale their deliveries. There is zero doubt they are the leaders in robotics and AI related to vehicles.

The doubts I have are more to do with scaling the mining needed to sustain liion and how quickly fsd cars truly happen.

Elon has been working on FSD for ten years and every year he says this will be the year. I believe the issue isn’t as much AI as it is the data collection sources, volume of data, and quality of data input. Tesla doesn’t control the roads, weather, and any number of other variables that make AI difficult to teach. Will they get there? Likely. When will they get there? I’m thinking 2030-2035.
 
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