Used car retailer Carmax (KMX) reported earnings Tuesday morning and it got double whammied by inflation. Used car sales units declined 15% compared to the previous quarter and 28% from the peak 2Q21. This is likely a function of higher…
Ahead of the important March CPI this morning it seems like a good time to take a look at the road ahead for the next bunch of weeks. The first thing is that the rally off the March 14 lows…
Online pet retailer Chewy (CHWY) reported 4Q21 earnings after the close Tuesday. In this blog, I’m going to analyze those results because I think they shed light on some important macro trends. The first macro trend is economic reopening. During…
The war makes inflation more intractable – Steven Blitz, Chief US Economist, TS Lombard (quoted in Nick Timiraos, “Fed Wrestles With The Challenge Of How Quickly To Raise Interest Rates” [SUBSCRIPTION REQUIRED], WSJ A1, Tuesday 3/15). The Fed is highly…
With inflation raging, the monthly CPI Report has replaced the Jobs Report as the government economic number with the most impact. Let’s take a look at the state of the market heading into the February CPI Report Thursday morning at…
The nation’s leading grocer, Kroger (KR), reported excellent 4Q21 earnings Thursday morning. Comps excluding fuel were +4% and gross margin was solid at 22.2% resulting in a 12% increase in EPS to 91 cents. KR expects the strength to continue…
The market is bifurcated into the mega cap tech stocks that have held up well so far – and thus propped up the indexes – and the smaller but still important stocks that have already suffered brutal bear markets. My…
Popular burger chain Shake Shack (SHAK) reported 4Q21 earnings Thursday afternoon. While the quarter itself looked fine to me with Same Shack Sales +20.8% vs 2020 and +2.2% vs 2019, I think it’s their margin guidance that is concerning investors….
The stock market rallied hard Tuesday on hopes that Russia will not invade Ukraine. The S&P was +1.58%, the NASDAQ +2.53% and the Russell +2.76%. 75% of stocks on the NYSE and NASDAQ advanced on the day. Since most investors…
Gold had a big day Friday in the wake of the news that we might be going to war with Russia over Ukraine. The Gold ETF (GLD) was +1.91% on 3x average volume. Combine potential geopolitical conflict – and don’t…