"When everybody is predicting the same thing, something else will likely happen."
Initial jobless claims: down 16,000 to 225,000.
Dow moves up. Futures up 100 points. At open, down 100. Profit taking from yesterday's huge. I expect Dow to close in the green before the weekend.
Personal income: up 0.7% vs 0.4% estimate.
JOLTs from yesterday: down but still more than 10 million job openings. JOLTS.
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All my posts are done quickly: there will be content and typographical errors. If anything on any of my posts is important to you, go to the source. If/when I find typographical / content errors, I will correct them.
Steve Liesman: "some kind of recession we're having." LOL.
- personal income up
- spending up
- initial jobs claims down
- market up
Yeah: "some kind of recession we're having." LOL.
GDP: new estimate to be released today. Previous:
Fed: makes sense to moderate thte pace of oouur rate increases.
Core CPE price index: up 0.2% vs 0.3% expected
- Mohamed el-Erian: inflation is coming down
- real economy continues to do well
- assets to go higher for tactical players; much tougher for long-term players
- recession risk uncomfortably high but could avoid
- if we slip into recession, unlikely to be short and shalloow
- "feeling better for now"
Kroger: guides better. This is a grocer.
Dow: in bull market territory
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