Core Inflation Moderates While Real Spending Jumps
Core and headline PCE prices cut by annual benchmark revision. Spending jumps even as real incomes turned negative, pulling the saving rate to the least since Nov. 2022.
Howling About Inflation Methodology
Wolf Street howls about changes to methodology of the calculus of inflation.
Not Even the Massive Changes of Methodology Can Get PCE Inflation Back into the Bottle | Wolf Street
Position: None
I’m Eyeing Northrop After Boeing’s $20 Billion Navy Update
Though Northrop Grumman lost out to Boeing in a large deal, it seems ripe for a trade.
More on the Cannabis Stay
The attached pdf below is a thorough briefing of the ALJ stay and the GAO Drug Scheduling Report.
Most importantly this is a procedural issue.
Go to page six for the possible outcomes.
I continue to add to the space.
Position: None
Late Morning Market Stats and Charts
– NYSE volume 145M shares, flat to its one-month average;
– Nasdaq volume 33% above its one-month average;
– VIX Index: down 1.06% to 15.87
Breadth
SOURCE: Interactive Brokers
S&P500 Indexes
SOURCE: Barchart
% Gainers, Decliners
SOURCE: TheStreet Pro
Nasdaq 100 and S&P500 Heat Maps
SOURCE TheFly
Here’s Where I’m Keeping My Dry Powder Safe From Market Headwinds
AI valuation absurdity continues, rates are spiking and housing prices are getting weird.
Baseball Trivia Answer
The all-time leaders in the playoffs of pitchers striking out 10 with no runs allowed:
Justin Verlander 3
Sandy Koufax 2
Randy Johnson 2
Cam Schlittler 2
Positions: None
Tech (XLK) Vs. Financials (XLF)
Chart from 10 a.m. ET
Job Growth Rebounds to 3-Month High as Manufacturing Hits Four-Year High
ADP’s gauge of private payrolls beat expectations on a rebound in goods producers.