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State Governments Under Massive Pressure
Reading Time: 2 minutesSource: “States Shut Down To Save Cash”, The Wall Street Journal, September 4, A1 Also see: “The Coming Reset In State Government”, Mitch Daniels, Republican Governor of Indiana, The Wall Street Journal, September 4, A17 “Lights Out At The Penitentiary”,…
Fed On Hold, Small Caps Explode, On Target (TGT)
Reading Time: 3 minutesOn Tuesday morning, the October CPI came in below expectations (0.0% headline, 0.2% core) leading to an explosive move higher in stocks and bonds. The rationale is that with inflation now apparently under control, the Fed no longer has any…
Interpreting the Disconnect Between Earnings and Stock Prices: The Cases of DIS & MCD
Reading Time: 12 minutesNote: A few months ago I started writing a daily morning market email for clients, friends and family. I recently decided to start making this email more broadly available. Email me at gfeirman@topgunfp.com if you’d like to be added to…
The State Of The Market Heading Into The CPI
Reading Time: 5 minutesAfter a strong three day bounce, the market softened Thursday with the S&P -0.72%, the NASDAQ -1.71% and the Russell -2.27%. NYSE + NASDAQ Advancers to Decliners were 1,997 to 6,030 on relatively mild volume of 8.3 billion shares compared…
Front Page WSJ Article Highlights Weak Retail Results
Reading Time: 1 minuteThe Wall Street Journal really has to stop relying on my Client Notes for their front page stories. Following on yesterday’s “Top Gun FP Client Note: No Retail Sales”, The Wall Street Journal had a front page article in today’s…
Stocks Run Up Into Earnings Season As The Fed Considers Pausing
Reading Time: 3 minutesStocks are bouncing hard into the start of 4Q22 earnings season as investors anticipate the end of the Fed’s rate hiking cycle. The Fed Whisperer Nick Timiraos had a must read article on the front page of today’s Wall Street…
