Description
Bulls and Bears - (TDI Podcast running now is Bull and next week is Bear - will be interesting divergence)
End of the Month - End of The Quarter
Seasonality features the Bulls
Fed Limericks!
NEW CTP ANNOUNCED!
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Warm-Up
- Bulls and Bears - (TDI Podcast running now is Bull and next week is Bear - will be interesting divergence)
- Strike Update - could be an issue
- Another Strike - different kind - Israel and Iran
- VP Debate tonight
Markets
- End of the Month - End of The Quarter
- Seasonality features the Bulls
- Good quarter - setting up for more gains?
- Question - Capital Gains??
- Inflation (PCE) Update
--- Fed Limericks ....And anotherĀ AI generated CoverArt - what do you think?
ANNOUNCING CTP for INTC
Market Selling Off
- Iran sending in missiles to Israel started a general concern
- VIX popped over 20 for a minute
- Markets down 1%++, but found reasons to try to come back mid day
Inflation
- Inflation moved closer to the Federal Reserve's target in August, easing the way for future interest rate cuts, the Commerce Department reported Friday.
- The personal consumption expenditures price index, a measure the Fed focuses on to measure the cost of goods and services in the U.S. economy, rose 0.1% for the month, putting the 12-month inflation rate at 2.2%.
- Excluding food and energy, core PCE rose 0.1% in August and was up 2.7% from a year ago. Fed officials tend to focus more on core as better measure of long-run trends. The respective forecasts were for 0.2% and 2.7% on core.
Euro Cars - Not Good
--- Blaming China....
- Stellantis on Monday trimmed its 2024 annual guidance on the back of deteriorating "global industry dynamics" and bolstered competition from China
- The French-Italian conglomerate, known for brands such as Chrysler, Dodge, Jeep and Maserati, warned of lower-than-expected sales "across most regions" in the second half of the year.
- Stock down 8% on the news
- UK-based Aston Martin Global Holdings PLC has signaled that it expects lower profits for FY24 due to supply chain disruptions and a decline in sales in China. According to its trading update, the company now expects its adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) to be slightly below FY23 levels.
- In addition, it no longer expects to achieve positive free cash flow in H2 2024. Following the update, AML shares crashed by around 24% as of writing.
- Stock down 43% YTD
- What about RACE, Ford and others?
China
- WOW - Best Rally n Monday since... 1998?
- Shenzen and Shanghai index up 8% on the back of:
---China's factory activity contracted for a fifth consecutive month in September as the world's second-largest economy struggles to revive its growth momentum.
- China's industrial profits plunged by 17.8% in August from a year ago, the National Bureau of Statistics said Friday.
------ That followed a 4.1% year-on-year increase in July, the fastest pace in five months.
-------Industrial profits covers factories, mines and utilities in China.
-- While the data was better than expected, anything that shows weakness in the economy will be met with expections that there will be more easing....
-- Note: FXI (Hang Seng, up 2% - Could be time for short on parabolic move??)
Hang Seng
Interesting Tape
- Headline at 11:30am Monday : Israel tells US that it is planning a imminent ground operation in Lebanon, according to Washington Post
- Oil is steady
- Markets turn positive
- VIX falls abit
- No fear of further escalation?
Asia
- Getting weird
- Japan's Nikkei falls over 4%,