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Chillin listening to Bloomberg >
ORCL just got slaughtered
almost forgot this is also an OpEx week to add to mess
FYI > FOMC Wed. Dog and Pony show / press conference @ 2:30 pm.
10Y auction at 1pm
30Y is on deck tomorrow
FOMC Wed > Dog and pony ? not certain att.
"Or Not" >
I keep thinking of Enron > Anyway
https://www.zerohedge.com/energy/us-natgas-prices-tumble-10-mild-weather
Emini Barry >
Have a good weekend gang
Trouble Ahead > Trouble Behind >
see what the FOMC monkeys do / say in days to come December 12-13*
https://www.zerohedge.com/markets/us-bank-deposit-outflows-continue-surge-regional-stress-accelerates
don't see a symbol for (MOVE) in TOS > will look at Schwab later
I'll add to that > more details >dated October 2, 2023 / Thnx
https://www.forex.com/ie/news-and-analysis/move-index/
"Bear Stearns is fine." > seems we are in part 2 > Who knows ?
Emini Barry >
have a good weekend > Later Gang
NQ > lots of sound logic in that vid, Thanks
that was Priceless $$
Or Not >
Additionally, GM says it is launching an accelerated share repurchase program or ASR, with $10 billion
earmarked for stock buybacks over the course of the program.
The General’s common stock shares currently pay a 9-cent per share dividend each quarter to shareholders
of record. Following the upcoming dividend boost, each share will pay a 12-cent dividend, a three-cent increase
over the previous amount.
Furthermore, the share repurchase program will see the banks tasked with executing the plan buy back $6.8 billion
worth of common stock “immediately.”
For those who are unaware, the repurchased stock will be “retired” or
eliminated from the pool of available shares, a process reducing the number of outstanding shares and thus
increasing those shares’ value.
Bank of America, Goldman Sachs, Citibank and Barclays will carry out the share repurchase program.
The program is expected to be complete sometime in the fourth quarter (Q4) of calendar year 2024.
About 1.37 billion shares of common GM stock are outstanding as of the buyback’s start.
The General says it has an additional $1.4 billion remaining from previous allocations it made for stock
repurchases. This money, it says, will be used “for additional, opportunistic share repurchases.”
The automaker canceled a revolving credit facility of $6 billion and will replace it with a $3 billion committed credit facility.
J > I was just reading somewhere that the shares had to be "absorbed" within 7 days >
??? I can't find that now but assume it's correct
One of the key things I noted was a "jump" from the "current 1% excise tax" on Buyback to
"coming" 4% excise tax on Buybacks as part of proposal was included as part of the FY2024
President's Budget of which thru the CR kick the can debacle is punted into 2024 sometime
more stuff >
https://budgetmodel.wharton.upenn.edu/issues/2023/3/9/the-excise-tax-on-stock-repurchases-effects
speaking of buybacks, I have yet to figure this one out >
https://www.zerohedge.com/markets/gm-shares-surge-over-10-after-announcing-10-billion-buyback-raising-dividend-33-updating
early "skynet" movie > another AI theme >
Emini Barry >
same to all > Later gang
>> Have a good Thanksgiving gang
N > thanks I missed that one
more on that "CPI" part 2
https://www.zerohedge.com/economics/cpi-scam-health-insurance-version
watching FOMC minutes @ 2 to see what transpires >
wiggle and set Or ? who knows in this crazy market
NQ > agree , still too busy here to pay attention to market >
Otherwise "All Good" for Thanksgiving week
Algo Up / Green Drip >
can't fight the machines
Yep >
https://www.zerohedge.com/markets/yields-tumble-stocks-spike-after-stellar-20y-auction
this week >
some other stuff in there but good week to take off and ignore
Tuesday November 21
02:00 PM Minutes from the October 31 – November 1 FOMC meeting
Wednesday, November 22
08:30 AM Initial jobless claims
08:30 AM Durable goods orders
Thursday, November 23
Happy Bird Day
Friday, November 24
NYSE will close early at 1:00 PM
NQ > you might use FTW5000 also in comparision
Emini Barry >
Have a good weekend gang > Later
slipped my mind > this IS an OpEx week >
damage done early in week > rest of week flat
ride into weekend and Next weeks shortened Holiday sessions
going nowhere fast Barring WW3
sometimes in the AM I just look at these vs even firing up TOS or other >
Broad "Quick look"
https://finviz.com/futures.ashx
https://finviz.com/map.ashx
Excellent > Thanks >
more on that "CPI"
If the Fed doesn’t hike > It doesn’t mean they will cut > The "Game"
Treasury yields fell sharply, and particularly the moves in the longer end of the curve were remarkable
.
The 10-year yield dipped some 15bp after the softer inflation report and the 30-year Treasury dipped some 12bp before
recovering a few of these basis points.
Everyone is happily subscribing to the view that inflation may, in fact, not be permanent – after this one CPI release
provides a mere 0.1 percentage point windfall?
CPI 0.1% undershoot seems insurance-related. The BLS reported a -34% y/y decline in health insurance costs!
That hardly seems credible given the trends of ageing population and rising costs everywhere, including in medical care
>>> Instead, the BLS changed its calculation methodology. Even at a weight of just 0.525%, that’s a 0.17 percentage point drag on headline CPI.
As expected, the prospect of lower yields did wonders to equities. The S&P 500 gained 1.9% on the day,
well > this makes more sense as to the skewed CPI numbers >
" Pay No Attention to man Behind the Curtain" .
https://www.bls.gov/cpi/additional-resources/improvements-cpi-health-insurance-index.htm