Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Investor Pessimism Jumps to Levels not seen in nearly 13 years
https://www.theepochtimes.com/investor-pessimism-jumps-to-levels-not-seen-in-nearly-13-years_4754687.html?utm_source=partner&utm_campaign=ZeroHedge
BIIB>soars Biogen, Eisai spark rally in Alzheimers stocks as lecanemab succeeds
in late-stage trial
Pretty good, icky allergy season though
THO-up pmkt-thor Industries delivers Record fourth quarter and fiscal 22
https://finance.yahoo.com/news/thor-industries-delivers-record-fourth-103000581.html
Stay safe!
AAPL is red off of the news
Morning Lex! How's everything?
No Bounce, Markets Set for more losses
WEDNESDAY, SEPTEMBER 28, 2022
After Friday's close I would have expected some form of bounce - either today or yesterday - but this didn't happen. On the (somewhat) plus side, there was no undercut of support of June lows for our monitored indices, although the Dow Jones Industrial Average did undercut such support last Friday and it didn't get much better day with another standard bearish candlestick today.
Cont for charts and comments
https://www.markets.fallondpicks.com/2022/09/no-bounce-markets-set-for-more-losses.html
10 Year Treasury Yield hits 4%
Chip Stocks Fall on Report Apple is Scrapping Boost to iPhone Production
September 28, 4:13 a.m.
Shares of Apple suppliers STMicroelectronics and Taiwan Semiconductor fell Wednesday on a report that said the tech giant was scrapping plans to increase production of its latest iPhones this year due to weaker-than-expected demand.
Dutch-Swiss chipmaker STMicro (ticker: STM) led the decliners, falling more than 5% in early European trading. Apple (AAPL) accounted for around 20% of the company’s total revenue in 2021. In Asian trading, Taiwan Semiconductor (TSM) slipped 2.2%, while iPhone assembler Hon Hai Precision Industry, also known as Foxconn, was close to 3% lower.
Other chipmakers supplying Apple were under pressure, with Infineon stock falling close to 3% and AMS International slipping 3.5%.
cont
https://www.marketwatch.com/articles/apple-iphone-production-chip-stocks-51664352007?mod=newsviewer_click
Shutdown looming is no help!
DOW flips over to RED, S&P RED, Nasdaq still a little green
The Energy Sector is Now The Way to Go
September 26
https://seekingalpha.com/article/4543158-energy-sector-now-the-way-to-go?source=feed_tag_editors_picks
RNA $18.75 Avidity shares fall 23% after announcing partial clinical hold
When you figure it out, let me know LOL
Cathie Wood's new fund gives small investors access to the VC market
for just $500
Cathie Wood’s Ark Invest launched a new venture capital fund, targeting individual investors with a minimum investment of just $500.
The actively managed ARK Venture Fund invests in 70% private companies and 30% public firms focused on technologically enabled innovation, and selectively in other venture capital funds, the company said Tuesday. The fund is available to individual investors initially through investing app Titan, a startup backed by Andreessen Horowitz.
“We are doubling down on innovation,” Wood said in an interview on CNBC’s “Squawk Box” Tuesday. “Ark is moving from social media and social marketing into social distribution, direct to consumer. Pretty exciting. We are offering investors something they’ve not been able to access before.”
The ARK Venture Fund charges a flat management fee of 2.75%, and does not charge any carried interest or load fees. The total expense ratio of the fund is estimated to be 4.22%, Ark said.
https://www.cnbc.com/2022/09/27/cathie-woods-new-fund-gives-small-investors-access-to-the-vc-market-for-just-500.html
<--EMR $73.14 this could make a nice move, decent dividend a plus
https://finviz.com/quote.ashx?t=EMR&ty=c&ta=1&p=d
NVAX 18.87 up 4.4% says one million Covid vaccine doses available
now available in the UK
Futures-DOW up 315 pts, S&P up 1.4%, Nasdaq rises 1.6%
AYLA $1.05 (careful) Ayala Pharmaceuticals gets fast track designation
for AL102 cancer treatment
EMR Emerson Electric to sell Russia business to local management
JBL stock jumps after earnings beat, upbeat outlook, and $1 billion stock
repurchase program
Cracker Barrel stock up 2.3% premarket after profit beat and upbeat
revenue guidance
Be back later, allergies and headache, need to lay back down
Futures bounce off Wall Street's 2022 lows
Futures up: Dow 0.89%, S&P 1.12%, Nasdaq 1.28%
U.S. stock index futures rebounded on Tuesday, following a bruising sell-off over the last few sessions on rate-hike induced recession fears that confirmed the Dow (.DJI) has been in a bear market for most of this year.
At 4:56 a.m. ET, Dow e-minis were up 261 points, or 0.89%, S&P 500 e-minis were up 41 points, or 1.12%, and Nasdaq 100 e-minis were up 145 points, or 1.28%.
cont
https://www.reuters.com/markets/europe/futures-bounce-off-wall-streets-2022-lows-2022-09-27/
WTO chief expects downside revisions in global trade forecast
The head of the World Trade Organization told Reuters on Tuesday that she expects that global trade forecasts will be revised lower from the current 3% for 2022, citing the ongoing Russia-Ukraine war and related food and energy crises.
"We are in the middle of revising our forecasts now but it's not looking very promising. All the indicators are pointing to downside numbers," Director-General Ngozi Okonjo-Iweala told Reuters in an interview. "Grosso modo the outlook is looking gloomy," she said, without giving exact estimates.
cont
https://www.reuters.com/markets/wto-chief-expects-downside-revisions-global-trade-forecast-2022-09-27/
Mining stocks buoy London's FTSE 100; BOE policy forum in focus
https://www.reuters.com/markets/europe/miners-boost-londons-commodity-heavy-ftse-100-2022-09-27/
How Far Could Stocks Fall? -
September 26,
by James Rickards
The stock market was down again today, the exchanges beginning where they left off last week. But it’s the larger trend that’s really disconcerting.
Investors don’t need to be told about the stock market collapse in recent months. The Dow Jones Industrial Average is down over 20% since January. The S&P 500 is down 23% since January. And the Nasdaq Composite is down 32% since its all-time high last November.
Those falls are not as bad as the crashes in March 2020 during the pandemic or late 2008 during the global financial crisis, but those comparisons offer little comfort since they were among the worst in history.
The real problem for stock investors today is not that the crash is bad so far, but that it might just be getting started.
We may be looking at losses that more closely resemble the over-80% collapse of the Dow Jones from 1929–1932 or the 80% collapse of the Nasdaq in 2000–2001 in the wake of the dot-com bubble.
Different Causes, Same Outcome
The culprit this time will not be reckless mortgage lending, Chinese viruses or sock puppet spokespersons. The danger is the much higher interest rates needed to squash global inflation.
Rates have been going up since last spring, but inflation continues at very high levels. The question for analysts and investors is how high will rates have to go before inflation falls to levels deemed acceptable by central bankers.
Most observers have connected the interest rate hikes with the fight against inflation, but relatively few have realized the full implications. The real key to fighting inflation is to do so by increasing unemployment.
Fed Chair Jay Powell had a lot to say at a press conference following last Wednesday’s decision to raise interest rates another 75 basis points (the Fed’s third consecutive 75-basis-point increase).
Cont
https://dailyreckoning.com/how-far-could-stocks-fall/
No doubt someone knows a lot more than us. Nice to see you
around again, been awhile.
Important documents as well; birth certificates, bank accounts, tax papers,
military records, passports, insurance and wills, land deeds, any papers of importance!
(Duplicates are not easily located without proof of verification)
Let's see if they can pass a responsible bill, or if it gets sidelined?
The vote list would be interesting.......
No me Z, I wasn't really watching much of anything.. Does sound odd, someone has deep pockets!
DOW enters BEAR market territory
The Destruction is enormous, a nightmare silenced
The Destruction is enormous, a nightmare silenced~~
(I remember this same gut wrenching feeling when Lehman Brothers went bust-
deepening the financial crisis of 2008)
Something needs to give soon as we are on the precipice of disaster
Down 29 Trillion Since November
Monday September 26
How much has the Fed's epic "inflationary is transitory" policy error cost the world? Try $29 trillion and counting.
According to calculations from Bloomberg's Robert Fullem, the combined market value of the Bloomberg Global Aggregate bond index and the MSCI World index has dropped $29 trillion since its peak in November 2021.
The price gauge of the former has dropped to its lowest level since 2011. That is more than twice the level of the world’s international reserves assets, currently at about $12 trillion.
chart
Cont
https://www.zerohedge.com/markets/down-29-trillion-november
Nomura Hikes Fed 'Terminal Rate' Forecast, Warns "Everything Else
Is An Emerging Market"
Monday September 26
On Friday night, the Nomura US Econ Research Team revised up their Federal Reserve 'Terminal Rate' forecast to 5.25-5.50% - which they then believe will be followed by a faster pace of CUTS in 2024:
Growing evidence that the short-term “Neutral Rate” has increased on 1) looser than expected financial conditions, 2) resilient labor markets and 3) still-elevated inflation suggesting that the Nominal “Neutral Rate” is likely higher than 2-2.5%, implying any given level of Fed policy will thus be more accomodative than previously believed.
Consequently, we have revised up our “Terminal Rate” forecast by 75bps to 5.25-5.50% and now expect rate hikes of 75bps in Nov and Dec ‘22, followed by 50bps in Feb and 25bps in Mar ‘23
charts
Cont,
https://www.zerohedge.com/markets/nomura-hikes-terminal-rate-forecast-warns-everything-else-emerging-market
Markets in for a 'terrible October' ahead of midterm elections, Kevin
Hassett warns
Economy, inflation among the biggest concern for voters
going into midterm elections
Former Council of Economic Advisers Chairma Kevin Hassett warned the U.S>
stock market is in for a "terrible" October ahead of the midterm elections, arguing on "Cavuto: Coast to Coast" Monday the uncertainty in Washington is "very scary" for voters.
Cont
https://www.foxbusiness.com/politics/markets-terrible-october-ahead-midterm-elections-kevin-hassett-warns
I see, did not miss anything, CHOP CHOP
AMEN, to that statement, he nailed it!
Wall Street Breakfast: The week ahead
https://seekingalpha.com/article/4542972-wall-street-breakfast-week-ahead