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Stifel Has Been Right About Stocks. How It Sees 2023 Ending.
After a huge rally, stocks' momentum has faltered. They may struggle to find it again this year, according to one of 2023's most successful market watchers.
It should indicate lower commodity prices, but oil is now at $90, so go figure. Remember though, that as their economy slows, it will also cause the rest of the worlds economies to slow too since they would be importing/spending less.
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mr.h
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The cartels have a strangle hold on oil prices and Europe does not have the infrastructure for our Nat. Gas or LNG.
we have more gas reserves than the Saudis have oil.
mr.h
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| USD | ISM Services Employment Index(Aug) | 54.7 | - | - | 50.7 | |||||
| 10:00 | USD | ISM Services New Orders Index(Aug) | 57.5 | - | - | 55 | ||||
| 10:00 | USD | ISM Services PMI(Aug) | 54.5 | 1.00 | 52.5 | 52.7 | ||||
| 10:00 | USD | ISM Services Prices Paid(Aug) | 58.9 | - | - | 56.8 |
our economy is still strong, but will be looked at as inflationary
Two sides to every story.....this administration started a war on our domestic energy industry, a natural consequence of that is to give the oil cartels more power. Remember that we have not refilled the SPR, which is supposed to be for emergencies, not to get re-elected.
Europe has its own war on fossil fuels, which is why the got caught with their pants down and butt cheeks open. However, I am fairly certain they are in the process of creating huge capacity for our gas.
mr.h
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| 08:30 | USD | Continuing Jobless Claims(Aug 25) | 1.679M | -2.03 | 1.715M | 1.719M | ||||
| 08:30 | USD | Initial Jobless Claims(Sep 1) | 216K | - | 234K | 229K | ||||
| 08:30 | USD | Initial Jobless Claims 4-week average(Sep 1) | 229.25K | - | - | 237.5K | ||||
| 08:30 | USD | Nonfarm Productivity(Q2) | 3.5% | - | 3.8% | 3.7% | ||||
| 08:30 | USD | Unit Labor Costs(Q2) | 2.2% | - | 1.6% | 1.6% |
OY….jobless numbers down. Good = bad
Productivity dropped which has an influence on GDP
If companies make working at the office mandatory, then we will see unemployment rise, for a myriad of reasons.
If you believe this decision is right for the environment, thats your right, BUT the natural consequence is that gas prices/inflation will go up, and OPEC will have more power.
Proposal would prohibit new leasing on more than 40% of state’s National Petroleum Reserve
Biden Administration Moves to Block Oil Drilling on Millions of Acres of Alaskan Wilderness
The proposal would prohibit new leasing on more than 40% of the state’s National Petroleum Reserve.
www.wsj.com
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mr.h
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I saw that. Biden obviously needs the left wing of his party to back him 100%. The environmentalists are happy.If you believe this decision is right for the environment, thats your right, BUT the natural consequence is that gas prices/inflation will go up, and OPEC will have more power.
Proposal would prohibit new leasing on more than 40% of state’s National Petroleum Reserve
Biden Administration Moves to Block Oil Drilling on Millions of Acres of Alaskan Wilderness
The proposal would prohibit new leasing on more than 40% of the state’s National Petroleum Reserve.
Muh APPL is down 7% this week as China is squeezing them. The handwriting was on the wall as APPL is making new deals with India and Vietnam. At some point it will become a screaming buy, but where is the bottom?
I think I read that our $ is at a 16 year high against the Yuan. As far as China is concerned, we import a lot more than we export. It should also help with commodities.
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Just blew up Montana Senator John Tester's chances of winning re-election next year.If you believe this decision is right for the environment, thats your right, BUT the natural consequence is that gas prices/inflation will go up, and OPEC will have more power.
Proposal would prohibit new leasing on more than 40% of state’s National Petroleum Reserve
Biden Administration Moves to Block Oil Drilling on Millions of Acres of Alaskan Wilderness
The proposal would prohibit new leasing on more than 40% of the state’s National Petroleum Reserve.
This relates to our conversation above, China slowing is a positive for inflation, but its a negative for our exports and business profits.
mr.h
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We import a lot more than we export. Trump and Biden both did a lot to ween us off China’s teat.
That is why they are going to squeeze American companies, because they see the handwriting on the wall.
It always amazes me that we don’t transfer production to countries in our hemisphere. The labor is just as cheap, but with that said, India will be the next China.
@mr.h I am not opining on AAPL, but here is some commentary from Barrons.
The chart
It’s well known that when Apple shares fall, their roughly 7% weighting in the S&P 500 means the market in aggregate tends to suffer. But as the table from Vanda Research shows, it’s notably worse for the portfolio’s of retail investors. They’ll be really hoping nothing bad happens to Tesla (TSLA), too.With a large percentage of SP500 owned via pensions and 401ks, do we see a sell off if consumers truly run out of cash and have to start using 401k funds and/or stop investing in their 401k? OR does the sell off get triggered more so by downward profits then it gets extended as people panic?
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Also lets see if oil continues its run and the UAW strike.
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Government shutdown looming too?
Plus multiple IPO's and the new I-phone.....YUGE week