Grains Report – Thursday, July 25
WHEAT General Comments: Wheat was higher in Chicago and KC again yesterday on fund short covering and some new speculative and commercial buying and as there has been some positive demand news amid production problems in Russia and Europe. Minneapolis was lower. The weekly export sales report was good and there were a lot of sales […]
Big Decline But No Bad Breadth?
On Wednesday, the S&P 500 shed 2.3%. As we noted on X, that snapped a 356-trading day stretch without seeing a one-day decline of at least 2%. The major key to this weakness, which we detailed in last night’s Closer, was how the Magnificent 7 had a historically bad session given poor reactions to earnings of Tesla (TSLA) and Alphabet […]
CMG Is Cooked
Chipotle (CMG) is a great fast casual restaurant chain that is doing everything right – but there are limits to the multiple applied to a company that sells burritos. CMG has been one of the best stocks in the market for a long time culminating with a run up in its shares to nearly $3,500 […]
Eurozone Loan Growth Shows Signs Of Bottoming Out
Image Source: Pixabay Tiny improvement in loan growth Broad money (M3) growth in the eurozone accelerated to 2.2% year-on-year in June 2024, from 1.5% in May. This reflected a stable annual growth rate of adjusted loans to households of 0.3%, while the annual growth rate of adjusted loans to non-financial corporations increased to 0.7% in June from 0.3% in […]
Bullish First Day For Ethereum ETF Inflows – Could This Upcoming ERC-20 Listing Benefit?
Image Source: Pixabay Ethereum ETFs are gaining momentum after launching on Tuesday, and analysts think this could be massive for Ether’s long-term success.In perfect timing, the new ERC-20 token WienerAI is closing out its presale and is set to make its exchange debut. ETH ETFs Reshuffling But Analyst Brace For Long-Term Gains There is a lot […]
Meta Unveils Llama 3.1 Open-Source AI
META has introduced Llama 3.1, its most advanced open-source AI model to date. Offering significant improvements over its predecessor, Llama 3.1 includes a longer context window (up to 128k), better language support, and advanced tools for data generation and model distillation. Developers will like this a lot, particularly in handling complex tasks and multilingual applications.Meta […]
Real GDP Rises 2.8 Percent In Advance Estimate, What About Recession?
Data from the BEA chart by Mish.Chart Notes Gross Domestic Product (GDP) and Gross Domestic Income (GDI) are two measures of the same thing. Product produced should match sales and income. They do over time, but this is a large ongoing discrepancy (see next chart). Real Final Sales is the bottom line estimate of GDP. […]
Stocks Bouncing Back After Data Hints At ‘Soft Landing’
Stocks are on the move midday, as Wall Street weighs an upbeat second-quarter gross domestic product (GDP) reading with the recent tech sector selloff. The Dow Jones Industrial Average (DJI) is up triple digits at last check, while the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) have both pared early morning losses and were last seen […]
Shiba Inu Burn Rate Drops Following 700% Surge: What’s Next?
Image by KNFind from Pixabay Shiba Inu is a popular dog-themed meme-coin, and investors are actively watching its price movements. This crypto has caused quite a stir in the crypto markets with its recent volatility. The Shiba Inu’s burn rate soared suddenly, blindsiding some traders. So, what’s happening with SHIBA? Is it time to buy? And what is the analysts’ forecast? The […]
Gold: Steady So Far
Image Source: Pixabay Gold lost its gains as today’s stock sell-off gained steam, leading to a liquidity crunch and margin calls. Still, the yellow metal is weathering the turmoil very well so far.A couple of days ago I predicted that we had another week or two of sideways trading before gold was ready to take off […]
