Weekly Points – August 2nd, 2024 – 5 Things to Know in Investing This Week – The #Trump #Bitcoin Issue
President Trump talks about Bitcoin and he and some other politicians call for a strategic Bitcoin reserve. Plus, we have another week of tech stock obliteration. It’s not that earnings were bad; but rather, that expectations and valuations were so high. Intel $INTC is the exception. Their earnings report was bad. We also have lots … Read more
DKI Featured in S&P Global Market Intelligence Article
I’d like to thank Brian Scheid of S&P Global Market Intelligence for quoting me in today’s article titled Magnificent 7 stocks stumble, boosting peak views. What do you think – was it the Fed, missed earnings, or AI spending that sent these stocks down? https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/magnificent-7-stocks-stumble-boosting-peak-views-82765994
Federal Reserve Meeting Commentary
The Federal Reserve completed its July meeting today. As usual, they put out a press release and Chairman Powell had a press conference. A few bullet points to understand the situation: – The Fed kept rates unchanged for now. This was expected. – The language surrounding employment gains, the unemployment rate, and inflation was softened … Read more
Weekly Points – July 26th, 2024 – 5 Things to Know in Investing This Week – The Earnings and Inflation Issue
We hit earnings season and with the Magnificent 7 priced for perfection, it was going to take “perfect” earnings reports to keep the market from falling. $GOOG and $TSLA showed some weakness and for the second straight week, tech leads the stock market lower. Coursera $COUR beats earnings and positions itself as an AI play … Read more
June PCE of 2.6% – Slightly Above Expectations
This morning, we got the June Personal Consumption Expenditures (PCE) report. This is the preferred inflation gauge of the Federal Reserve. The PCE was up 0.1% vs last month and 2.5% vs last year. The monthly number accelerated by 0.1% and the yearly declined by 0.1%; both very small changes in trend. The 2.5% annual … Read more