Goldman’s Amazon Move Adds Conviction to My Trade
Amazon is developing the way I hoped it would. Here’s my strategy as we begin the fourth quarter.
Initial Jobless Claims Remain Near 57-Year Lows; Continuing Claims a 3-Year Low
Initial unemployment claims held below 200,000 for a third straight week (only ninth week since 1969), while continuing claims dropped to their lowest since March 2023.
Job Cuts Hit 4-Year Low but September Hiring Plummets
September job cuts fell, but hiring plans were the least for the month since 2011.
Bonds Crash the Party
A bond market selloff muted what should have been a rally for equities on Wednesday. Also, feel that inflation chill?
A Bull Market and a Bear Market at the Same Time
Higher interest rates are splitting the market into SI winners and everyone else.
Cool Inflation Print Overshadowed by Rising Yields as Stocks Stumble Into Quarter-End
A cooler-than-expected core PCE lifted stocks early, but a rebound in yields and a sharp final-hour selloff left the Nasdaq as the lone gainer on the day and month.
September Trading Sees Fitting End With Higher Rates and 2 Tiers
Bonds had good reasons to rally and didn’t, which benefited the AI mega caps.
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.
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.
