The only function of economic forecasting
Source: Michel A.Arouet
Germany economic growth has been lagging behind other European countries.
And Chancellor Friedrich Merz is looking for excuses: “This task is bigger than some may have imagined a year ago – and I say that self-critically,” Merz admitted in a speech on Saturday in Osnabrück. “We’re not just facing a phase of economic weakness; we are in a structural crisis.” Germany’s economy contracted by 0.3% in Q2, more than expected, as consumer spending fell short. But the root of the malaise lies closer to home: While Merz enjoys the spotlight abroad, he’s been slow to deliver reforms at home; and that’s dragging down the national mood. Source: Bloomberg, HolgerZ
Interesting by Chartr showing that AI data centers could soon contribute more to CO2 emissions than aviation does now.
After boycotting flying, will climate activists make a push to start boycotting TikTok and YouTube with all the AI generated clips and stop using Google, Facebook and the like? Source: Chartr, Michel A.Arouet
Over $294 million in Bitcoin long positions were wiped out in the past hour as $BTC flash-crashed below $110K.
Source: Jacob King
SP500 market breadth has been improving
Indeed, 68% of S&P 500 stocks are now trading above their 200-day moving average, the most this year 📈 Source: Barchart
"The disappointment is that Mr. Powell and the Fed ignored the need for larger changes at the central bank."
This and the passage below are from the Wall Street Journal's editorial on Federal Reserve Chair Powell's Jackson Hole speech. Source: WSJ, Mo El Erian on X
Best performing SP500 stocks ytd
Source: Shiny Stocks ⚒️ @shinystocks on X
Chinese stocks are on 🔥
- Turnover nearly 2 trillion yuan in the morning session - CSI 300 within 1% of 2022 high - Technicals signaling short-term overheating. Meanwhile, HSBC lifts China index targets: "We lift our end-2025e target for SHCOMP to 4,000 (from 3,700), CSI300 to 4,600 (from 4,300), and SZCOMP 13,000 (from 11,500) given the abundant liquidity" Source: David Ingles, Bloomberg
