Last Thursday The Wall Street Journal’s Greg Ip wrote an excellent column in which he argued that the Fed’s “critical junctures” i.e. hard decisions are still ahead of it. For the most part it’s been relatively easy for Powell to…
The Fed changed its mind – and told The Wall Street Journal’s Fed reporter Nick Timiraos. They were going to raise 50 basis points but after considering last Friday’s hot CPI number they’ve decided to raise 75. They told Timiraos…
As you can see in the green line in the chart above from zerohedge, 7 rate hikes are now priced in through September. That works out to two 50 point hikes and one 75 point hike and would bring the…
We’ve had some additional time after earnings to really evaluate the overall operating environment. We have to be decisive and get out in front of this to make sure this doesn’t linger through the back half of the year –…
Coupa Software (COUP) – a $6 billion cloud software spend management platform based in San Mateo, CA – reported 1Q22 earnings Monday afternoon. Everything looked good to me: Revenue was +18% year over year to $196 million while EPS was…
Sentimentrader had a fascinating chart out today showing that the number of articles mentioning “bear market rally” is double the number during the March 2020 COVID Crash. I’m noticing that even bulls think this is only a bear market rally….
When a quality stock is down 50% in six months, it doesn’t need to report a great quarter for the stock to bounce and that’s exactly what we’re seeing this afternoon with Salesforce (CRM). The quarter has some nuance to…
The market has reached extreme oversold conditions from which powerful rallies almost always arise. Two weeks ago, Jason Goepfert pointed out that there had only been 18 similar days since 1984 in which more than 29% of stocks on the…
In Wednesday morning’s blog, “Pay Attention To The Fed Minutes”, I wondered if Powell would blink or continue to hammer away at the necessity to tackle inflation. As far as I can tell, he stuck to his guns on the…
I think we all know by now that it’s all about The Fed. Ever since Powell pivoted hawkish on April 21 it’s been straight down for risk assets. Which brings me to the release of today’s Fed Minutes at 2pm…