The Eisen Hour -- Abbreviated Edition -- October 23, 2024

Locator: 48642CRAMER.

New "word" for the day: "slivered onions." Has been added to the "drinking game" bingo board for the NDSU fraternities.

The Fed: this is pretty cool -- one analyst's view:

• the Fed has "given up" on fighting inflation
• that was one way of phrasing it (negative spin); could have said Fed now focused on economy (positive spin)
  
• did agree that the Fed is now interested in growing the economy; growing the US out of debt problem; 
• a lot of pressure to maintain high levels of LNG / oil exports; re-shoring tech industry
  
• happy with a 2-handle
• will gladly see inflation at high end of "2" (i.e. 2. 6 - 3.0 inflation rate)
• why would the Fed accept this: will help "grow" the US out of its debt problem -- an interesting take
• Sara is on top of her game as usual: was able to remind the guest of his previous views; amazing
• bottom line: not particularly concerned; headlines not surprising

ARM/QCOM: after the bombshell announcement last night (part 1 and part 2), eager to see how this plays out; won't know for quite some time, of course:

• Cramer: going with ARM
• ARM says it can do what QCOM is doing
• AAPL investors seem unfazed
• if that's accurate, ARM says it can do what QCOM is doing, the question becomes, how fast can QCOM ramp up to meet demand?
  

Cramer's first hour:

• most was spent on Boeing and SBUX, neither of which interest me
• Faber tried ot put together the QCOM / ARM story but overcome by noise from the trading floor
• appears Faber-Carl-Cramer not much interested in the story

Existing home sales: September results, blah, blah, blah

Early market trading: blah, blah, blah, but if anything, energy and utilities doing okay.

McDonald's: major drag on the Dow.

• CEO's video response seemed a bit disingenuous when I first heard it -- natural reaction, I'm sure.
  
• having said that, it's been several days since the last case reported; the CEO's statement may be exactly "right." 
• Sara this morning didn't add anything we didn't know last night, so that's good news
  
• analysis:
• McDonald's: supply chain issue; onions implicated; nothing to do with McDonald's per se
• the question: were the implicated onions only shipped to McDonald's? Most likely.
  
• Chipotle, E. coli, 2015: related to processes / procedures in the kitchen
• fairly common food pathogen with outbreaks not uncommon; 200,000 cases annually in US
• the number of McDonald's cases appears not have increased overnight

The BIG story today, per Sara: rising 10-year Treasury. 

Sara: a blah day. 

Mideast: huge stories and very little coverage --

• is Tyre being carpet-bombed?
• has Hezbollah's newest leader already been taken out -- if so, he lasted a week or so

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• 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. 
• Reminder: I am inappropriately exuberant about the US economy and the US market.
• I am also inappropriately exuberant about all things Apple. 
• And now, Nvidia, also. I am also inappropriately exuberant about all things Nvidia.
• Longer version here.