Insiders Send Up Important Smoke Signals
Below are some of the most interesting things I came across this week. The combination of extreme valuations and rising dispersion is a classic sign of a stock market top. Corporate insiders are certainly behaving in a manner consistent with that appraisal. Perhaps they understand better than most that analyst estimates are just far too optimistic […]
Children Are The Future
Back in 2010, I predicted that India would have the world’s largest economy (in PPP terms) within 100 years. A few months later, I moved up the predicted date to 2081. Based on this graph, I’d now say some time in the 2060s: Today, India and China both have a bit over 1.4 billion people. But look […]
Russia: Policy Rate Raised To 18%
As of today: For comparison, here is the y/y (official) inflation rate (through June). With the policy rate at 18%, and y/y inflation at 8.6% (through June), we have in essence a contractionary monetary policy. The ex-post real rate was 7.4% in June. Assuming adaptive expectations, the ex ante real rate for August onward is […]
OpenAI Announces Its Google Killer: SearchGPT
It started in 2022 with perplexity.ai, which (when it was working great) allowed you to do 10 minutes of Google searches in about 10 seconds. Google’s answer? AI Overviews, which got everyone’s knickers in a knot because there were no links, which meant no revenue for content creators or publishers. Now, there’s OpenAI’s newly announced […]
Stocks And Precious Metals Charts – U.S. Dollar
Stocks rallied a bit after the big decline but flopped a bit into the close.The Dollar chopped sideways.Gold bounced, silver held its own.VIX dropped. Risk is not a sentiment that this market embraces.Non-Farm Payrolls and the FOMC meeting next week as indicated in the calendar below.Have a pleasant weekend. More By This Author:Stocks And Precious Metals […]
Wall Street Scores Winning Session, Mixed Week
Wall Street rallied in a big way Friday. The Dow added 654 points to secure a fourth-straight weekly win, with help from 3M’s (MMM) 23% pop. The S&P 500 and Nasdaq, meanwhile, logged their second consecutive week of losses despite solid daily wins, as the tech sector failed to recover from this week’s selloff. The […]
Market Talk – Friday, July 26
Image Source: Pixabay ASIA:The major Asian stock markets had a mixed day today: NIKKEI 225 decreased 202.10 points or -0.53% to 37,667.41 Shanghai increased 4.16 points or 0.14% to 2,890.90 Hang Seng increased 16.34 points or 0.10% to 17,021.31 ASX 200 increased 60.10 points or 0.76% to 7,921.30 KOSPI increased 21.25 points or 0.78% to 2,731.90 […]
Canada’s “Worst Decline In 40 Years”
Canada’s standard of living is on track for its worst decline in 40 years, according to a new study by Canada’s Fraser Institute.The study compared the three worst periods of decline in Canada in the last 40 years — the 1989 recession, the 2008 global financial crisis, and this post-pandemic era.They found that unlike the previous recessions, Canada […]
Expect The BLS To Revise Job Growth Down By 730,000 In 2023, More This Year
Data from the BLS, chart by MishThis is a complicated post that goes into some of the more arcane procedures the BLS uses to produce the monthly jobs report.But please read on. I will tie everything together after a discussion of the data used in this post.As a bonus, I have confirmation from Bloomberg’s chief […]
The U.S. Presidential Race Shakes Up. Do Markets Care? Market rotation into U.S. small cap stocks continues Biden drops re-election bid, backs Harris. Does it matter to markets? Another month, another rate cut in Canada
Video Length: 00:06:27 On the latest edition of Market Week in Review, Senior Director and Chief Investment Strategist for North America, Paul Eitelman, and Equity Manager Research Analyst Michelle Batjargal discussed the rotation into small cap stocks in the U.S. equity market. They also chatted about the potential market impacts of recent U.S. political developments […]
