The Market -- Coors Light Embraces Pride Parade -- June 23, 2023

Locator: 45023INV.  

VIX: at lowest levels since January, 2020.

Wall Street's so-called "fear index" — the CBOE Volatility Index — fell to 12.73 Thursday, the lowest reading since January 2020.

As stocks snap a three-day losing streak and return to climbing the proverbial wall of worry, the VIX is signaling the most complacency in stocks since just prior to the pandemic.

It may not signal the all-clear, the low VIX reading does underscore the powerful rally U.S. large cap equities have mounted this year. While the rally was largely concentrated in growth tech names and mega cap stocks through May, cyclical sectors have joined the party since the last jobs report dropped in early June.

The VIX is perhaps most famous for its skyward spikes during periods of market turmoil. But sustained, lower readings are a hallmark of bull markets.

Wind: Siemens Energy (think wind) shares plunge 30% as wind turbine worries deepen. Those long heavy blades that "everyone" loved:

Disney: not hitting on all cylinders. Long-serving CFO just quit; now Chief of DEI departed to pursue other interests. I hear BUD is looking for a new DEI marketing director for the midwest, south, and southwest US, as well as the rodeo circuit, in general.

Freight train, freight train, moving so fast: opening today -- I plan to go to the 10:00 p.m. show. Link here. I suspect my movie review will run something like this:

• typical Wes Anderson movie
• incredible cinematography
• a "Hotel" sequel
• weak story line -- but does anyone go to a Wes Anderson movie for the story line? LOL.
• starring ensemble will exceed all expectations
• sound track -- awesome
• my wife will hate it -- even without seeing it -- she will never watch it
  

All those headlines, the US Navy knew .... wrong.

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BUD

Updates

June 25, 2023: a gazillion articles on "lessons the ad world learned" since June 6, 2023. For lessons learned, look at Coke, McDonald's, Apple.

Quick: on the chart below, point to the specific date when things went sideways.

Reposting:

Trending on my twitter feed tonight: link here. This speaks volumes. From The Bismarck Tribune. I knew the "number" would be high but I did not expect 80%! Quick: name the outlier: Walmart, Target, Bud.

Original Post

All that "pride" stuff: I have a comment for this but don't want to troll -- so will simply post the headline:

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Again, all my posts are done quickly. There will be typographical and content errors in all my posts. If any of my posts are important to you, go to the source.