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US Q3 GDP Data Still Expected To Post Solid Growth
Image Source: PexelsToday’s revised estimate of US economic activity for the upcoming third-quarter GDP report continues to point to a slower-but-still solid growth rate, based on the median nowcast for several estimates compiled by CapitalSpectator.com.The median estimate firmed up to a 2.5% real annualized rate for Q3. That compares with Q3’s previous 2.1% estimate published on Sep. 5.If the current median nowcast is accurate, US growth will downshift from a strong 3.0% increase reported for Q2. The initial Q3 estimate from the Bureau of Economic Analysis is scheduled for release on Oct. 30.Today’s upbeat GDP nowcast conflicts wi... -
Finance 0
Back To Basics: Remembering The “Income” In Fixed Income
Image Source: PexelsAs we approach Q4, the fixed-income markets are taking stock of where they’ve been and what is to come. Markets are expecting a highly anticipated shift in monetary policy to take place before the end of the year, which would mark a turning point in one of the most aggressive interest rate hiking cycles the U.S. has seen. Until now, most fixed-income segments have weathered the volatility in the rate market, turning in varied performance on a YTD basis. Although “higher for longer” currently feels more like “higher for not much longer,” historically high yields across fixed-income assets remain for the time bein... -
Finance 0
The Fed’s Set For A 25bp Cut, But It’s A Close Call
Image Source: PixabayThe US Fed has made it clear that monetary policy is going to be eased meaningfully from next week onwards. We had favoured a 50bp cut, but the latest job and inflation numbers suggest officials will more likely vote in favour of 25bp. Nonetheless, they will leave the door open to potentially more aggressive action down the line. Rate cut expectations built over the summer It has been an eventful summer with the combination of a Bank of Japan rate hike on 30 July, which caught many in the market off guard, and the Fed pivoting to put less emphasis on inflation and more on the jobs situation at the 31 July FOMC meetin... -
Finance 0
Import Prices Drop 0.3 Percent, Export Prices Plunge 0.7 Percent
Image Source: PexelsEconomists did not see this one coming. The consensus for export prices was -0.1 percent. And there was a negative revision to export prices.The BLS Import-Export Price Report put a spotlight on very bad news for exportersImport Prices Key Points The price index for U.S. imports fell 0.3 percent in August, after ticking up 0.1 percent from April to July. The August decline was the largest monthly drop since the index decreased 0.7 percent in December 2023. Fuel Imports: Import fuel prices decreased 3.0 percent in August, after increasing 1.1 percent the previous month. The August drop was the largest 1-month decline sin... -
Finance 0
Stocks To Watch Today: UBER, ADBE, And MSTR
Image Source: PexelsIn a day of mixed market movements, three technology companies are making waves on Wall Street. Uber Technologies Inc. (UBER), Adobe Inc. (ADBE), and MicroStrategy Inc. (MSTR) are each experiencing significant stock price fluctuations due to recent announcements and financial results. Uber Shares Surge Following Waymo Partnership Expansion Uber Technologies Inc. (UBER) shares surged 5.07% to $71.54 following news of an expanded partnership with Alphabet’s Waymo for autonomous ride-hailing services. The company announced plans to offer driverless rides in Austin, Texas, and Atlanta, Georgia, beginning in early 2025. ... -
Finance 0
Mega Trend Convergence: Surfing The Market’s “Ultimate Wave” In 2024
Photo by Steve Johnson on UnsplashNazaré is a small seaside town in Central Portugal … and home to one of Earth’s most powerful natural spectacles.Walk Nazaré’s streets, and you’ll be able to take in stunning architecture, bask in the subtropical heat, and maybe even catch a bullfight if you’re in town during the summer festivals.But step out on the battlements of the Fort of São Miguel Arcanjo, and you’ll bear witness to Mother Nature’s awesome power:Because this sleepy seaside town is home to some of the biggest waves anywhere on the planet.Big wave surfers travel from all over the world for a shot at riding these 80-foo... -
Finance 0
Recession Now Or Stagflation Forever
Image Source: PixabayThe labor market is clearly weakening. But in reality, this is what needs to happen. Short-term pain is needed to reconcile the great imbalances created by decades of free money. The alternative is intractable inflation that renders the middle class into penury.The most recent ADP employment report showed job growth in August was just 99k, far below the projected 140k net new jobs that were supposed to be created. This was the smallest number of net new jobs created in over three and a half years.The August Institute for Supply Management (ISM) services index came in as expected at 51.5 vs. 51.4 in the prior month. Howev... -
Finance 0
Gold Sets A New Record As Prices Rise Higher
Image Source: PixabayGold prices surged to 2,570 USD per troy ounce on Friday. New record highs became possible amid the weakening position of the US dollar and declining yields on US government bonds.Gold prices began to rise after the release of another package of US macroeconomic statistics. The weekly initial jobless claims increased compared to the previous week and remained above average values. This signals a weakening employment market, which is confirmed by weak wage figures for August. Meanwhile, US producer prices increased slightly more than expected in August due to high maintenance costs. The overall trend still confirms easing... -
Finance 0
Pattern Suggests Silver Could Nearly Double Following A Breakout, Says Joe Friday
Image Source: PixabayPrecious metals have been big winners in 2024.While Gold may get all the headlines, Silver has performed pretty well too. And things may turn even more bullish if the Silver can breakout above important price resistance!Today we look at a long-term “monthly” chart of the Silver ETF.“The facts, Ma’am. Just the facts.” – Joe FridayAs you can see, the Silver ETF (SLV) formed an inverse head and shoulders, leading to a rally that further formed a nice cup-like pattern.The top of the cup at (1) marks important resistance.If SLV can breakout here, the pattern suggests that there is plenty of upside.Precious metal... -
Finance 0
CAVA’s Post-Earnings Surge: Key Setup And Trade Strategy
Image Source: UnsplashCAVA Group (CAVA) has recently hit an all-time high, thanks to its strong earnings report, displaying significant relative strength even as broader markets like the S&P 500 have experienced a drawdown. This strength showcases CAVA bucking the trend, making it an attractive stock to watch.Currently, CAVA is forming a flag pattern, a continuation signal that suggests the stock may break out to test the all-time high around $130. The recent rejection tail seen on the chart, along with rising volume, suggests that traders should be cautious about immediate breakouts, but the setup remains strong.Support zones for the st...
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