Good Morning, I’ll Be Your Tour Guide Today
It’s Wednesday! You can do it. It is I, Sarge. Dougie is off today and I am filling in as your tour guide. Let’s get some coffee into the system and get the blood flowing. You know what you need to do. You don’t need my boot pushing you along.
There will be a lot to consider as this day gets going. Before we get to Nvidia ($NVDA), CrowdStrike ($CRWD) and Salesforce ($CRM) earnings, we’ll have to get through July PCE prices, July Personal Income & Spending, July Durable Goods Orders and a speech by Richmond Fed Pres Tom Barkin.
Then, we’ll have to consider the burgeoning trade war between the U.S. and Canada, the potential for a reopening of the Strait of Hormuz, the Treasury Department’s “enhanced” liquidity management program and Jackson Hole. (Anybody who thinks Canadians are so nice has probably never played ice hockey at a decent level. That’s like saying grizzly bears are cute.)
What we do know is that both oil prices and Treasury yields are significantly lower in just a few days’ time. So, slap on those helmets. Buckle those chinstraps. Tape on that foil. It’s time to take the ice and play the game.
Rock & roll.
Position: Long NVDA, CRWD equity
