Dawn Report – October 7, 2022
Good news is bad news. That’s the bizarre situation we’re in. All eyes on the jobs report hitting today… and what impact it will have on the Fed. (Incidentally, these economists remind me more of shamans than business professionals.) Here’s the situation… Expectations are for 275,000 new (nonfarm) jobs and unemployment remaining steady at 3.7%. […]
Morning Report – October 6, 2022
Inflation just got a big boost. In a direct insult to the United States, OPEC+, led by Saudi Arabia and Russia, is slashing production. That’s not terribly unexpected, but it wasn’t just a cut of one million barrels per day… but two million barrels per day. “Clearly, OPEC+ has sided with Russia after today’s announcement,” said […]
Dawn Report – October 5, 2022
Well, let no one say Elon Musk doesn’t know how to respond. One day after being dragged on social media for his sudden “peace plan” for the Russian-Ukrainian war, Elon Musk suddenly said that he was ready to buy Twitter (TWTR) for the original price. That’s a $44 billion deal. What could explain the sudden reversal? The most […]
Dawn Report – October 4, 2022
It’s quite an accomplishment when you are directly responsible for helping a country avoid being conquered… and also become Public Enemy Number One. Elon Musk and Starlink have been a key factor in Ukraine’s ability to stymie the initial Russian invasion. Now that Ukraine is on the offensive, Russia is reportedly considering a nuclear option. […]
Dawn Report – October 3, 2022
Is it 2008 all over again? Rumors are rife that Credit Suisse is heading for catastrophe. Corporate leaders have reportedly been assuring clients all weekend that they have sufficient liquidity to face the storm. There are certainly some remainders of the last financial crisis, especially the shaky housing market, worries that the Fed will keep […]
Dawn Report – September 30, 2022
Back to normal it seems. And normal is, well, chaotic. The market plummeted yesterday. Of course, as Mr. X warned, Wednesday’s gains were a one-off sparked by the Bank of England’s promise to buy as much corporate debt as necessary to defend the pound. The deeper problems in the economy mean that we’re still looking […]
Dawn Report – September 29, 2022
Don’t ever count out America.The country has problems. But compared to the rest of the world, the American economy’s future looks positively idyllic.The market came roaring back yesterday, with energy and biotech leading the way. Cheniere Energy, Inc. (LNG) was up around 9%, as further cutbacks in Russian natural gas to Europe opened the doors for American […]
Dawn Report – September 28, 2022
The biggest mistake in history – and economics – is assuming that what’s happening now will continue forever. During the pandemic, money poured into companies that would allow for “zero-contact” transactions and disinfect everything in sight. Cryptocurrency boomed – and El Salvador even adopted it as an official government currency. The metaverse looked like it […]
Dawn Report – September 27, 2022
The S&P 500 closed at a record low for 2022 and we’re officially in a bear market… yet the American economy’s claim to dominance is stronger than it’s ever been in recent history. Remember during the pandemic how there was all this panic about China overtaking the United States? Or the titan that was the […]
Dawn Report – September 26, 2022
The currency wars may be about to claim its first casualty. Russia and China have been talking about replacing the dollar as the standard for world trade for some time. That hasn’t worked out well. While the Russian economy has hardly been brought to its knees by sanctions, Vladimir Putin has failed as totally in […]