Author Archive: Jeremy Parkinson
March JOLTS Report: Declines In Everything, Fortunately Including Layoffs
Image Source: PexelsAfter almost half a year of general stabilization or very slow deceleration, the JOLTS report for March featured multi-year lows in almost all of its components. Job openings (blue in the graph below), a soft statistic that is polluted by imaginary, permanent, and trolling listings, declined -325,000 to a three year low of 8.488 million. Actual […]
FOMC Leaves Rates Unchanged, Says (Bigger Than Expected) QT Taper To Start In June
Image source: PixabaySince the last FOMC meeting, on March 20th, gold has been the biggest outperformer (interesting along with dollar strength), while stocks, bonds, and crude (and crypto) have all been sold (with bonds and oil equally ugly)…Source: BloombergAnd since March 20th, US macro data has serially disappointed…Source: BloombergMore problematically, since the last FOMC meeting, inflation data has […]
Jim Cramer Has Lost Conviction In Starbucks CEO
Image Source: Unsplash Jim Cramer criticised Starbucks CEO for a disappointing quarter. He questions whether his Charitable Trust should hold $SBUX. Starbucks stock is down more than 15% on Wednesday morning. Jim Cramer seems to have lost conviction in Laxman Narasimhan – the chief executive of Starbucks Corp (SBUX) after a “terrible” quarter the coffee giant reported […]
Central Bank Gold Buying Sets New 1st Quarter Record
Image Source: UnsplashThe central banks have been on a gold buying spree ever since Russia was sanctioned by the US in early 2022. And they just set a new first-quarter record for the amount of gold purchased.Given the events that have occurred since then, which now include escalating Middle East tensions, the news isn’t entirely surprising. […]
ETFs To Buy As Eli Lilly Beats Q1 Earnings, Lifts Outlook
Image Source: PixabayEli Lilly and Company (LLY – Free Report) posted mixed first-quarter 2024 earnings, beating earnings estimates but lagging on revenues. The pharmaceutical giant raised its outlook for 2024 on rapidly climbing sales of the new obesity drug Zepbound and its counterpart for diabetes, Mounjaro.The stock jumped 6% in response to the earnings beat. Investors seeking to […]
Web3 gaming aligns players and companies interests, says Delabs Games CEO
Blockchain gaming is seen as a hot narrative in crypto for 2024 by different industry players, such as Binance and CoinGecko. According to the latter, the total market cap of blockchain gaming tokens is over $18.6 billion.Delabs Games is one of the players building in this sector, focusing on an ecosystem built on the concept […]
Dow Jones Industrial Average Struggles To Recover From Recent Backslide As Fed Rounds Corner
Image Source: Unsplash Dow Jones stuck near recent lows as Fed looms. Equities are mixed as markets await Fed policy guidance. NFP Friday will solidify market outlook on US labor market. After this week’s backslide, the Dow Jones Industrial Average (DJIA) is stuck in a rut, dragging the index below 38,000.00 as investors buckle down for […]
Decomposing Sentiment
Image Source: PexelsRepublicans and lean Republican respondents really, really, really don’t like economic conditions right now, switching “bigly” upon Trump’s election, contributing to an outsize impact on the overall University of Michigan consumer sentiment index. Democrats and lean Democratic respondents think things are about the same as mid-2016 (under Obama).Figure 1: University of Michigan Consumer Sentiment relative […]
Feds Scrutinizing Block’s Square And Cash App, Eyeing If Transactions Funded Terror And Skirted Sanctions
Image Source: UnsplashFederal prosecutors are investigating compliance issues at Block, the fintech firm co-founded by Jack Dorsey, according to a new report from NBC, citing “two people with direct knowledge”. Questions about the company started swirling back in March 2023 when short seller Hindenburg Research released a report called “Block: How Inflated User Metrics and “Frictionless” Fraud Facilitation Enabled Insiders […]
Solana and Bitcoin NFT trading hits record numbers
Bitcoin and Solana non-fungible token (NFT) market registered records in daily active traders (DAT) last week, according to the research blog OurNetwork. While Solana reached its all-time high of 59,300 DAT, Bitcoin registered a peak of 25,600 DAT.Solana’s rising DAT number represents a fourfold increase from the approximately 15,000 daily traders earlier last week. The […]
