BREAKING: November PPI inflation RISES to 3.0%, above expectations of 2.6%. Core PPI inflation RISES to 3.4%, above expectations of 3.2%.
Moreover, the US Bureau of Labor Statistics has revised October PPI inflation HIGHER, from 2.4% to 2.6%. Also, Core PPI inflation for October has been revised HIGHER from 3.1% to 3.4%. This means that 6 out of the last 7 PPI inflation reports have now been revised higher. With today's 3.0% PPI inflation print, PPI inflation is now at its highest level since February 2023. CPI, PPI, and PCE inflation are all officially back on the rise in the United States... Source: The Kobeissi Letter
TEXAS GOES ALL IN ON BITCOIN WITH STATE RESERVE PLAN!
Texas just made a bold crypto power move! State Rep. Giovanni Capriglione has filed a bill to create a Strategic Bitcoin Reserve, setting the stage for Texas to lead the Bitcoin revolution. This is a visionary step toward making Texas the ultimate Bitcoin hub. Source: Watcher Guru, @VoteGiovanni thru Mario Nawfal
🚨Only 32% of the S&P 500 firms have outperformed the index year-to-date after 29% in 2023, one of the lowest readings on record.
In other words, 32% of companies gained more than 27% this year. In the past, this happened only once, in the 1998-1999 Dot-Com Bubble. Source: Global Markets Investor
⁉️ WALMART RECESSION SIGNAL IS FLASHING RED BUT CREDIT SPREADS ARE AT THE TIGHTEST. WHO'S RIGHT ?
Walmart, $WMT, share price divided by the S&P Global Luxury Index price jumped to near the highest since the 2008 Financial Crisis. However, US corporate bond spreads stay at historically low levels. Is this indicator still valid? Source: Global Markets Investor
✔️ The move is an early sign that the US president-elect intends to resume the high-level engagement with China's leader that marked his first term.
US president-elect Donald Trump has invited President Xi Jinping to his inauguration in January, in an early sign that he intends to resume the high-level engagement with the Chinese leader that marked his first term. Karoline Leavitt, the incoming White House press secretary, told Fox News on Thursday that Trump wanted to create an “open dialogue” with countries that were American adversaries, not just with allies and partners. “We saw this in his first term. He got a lot of criticism for it, but it led to peace around this world. He is willing to talk to anyone, and he will always put America’s interests first,” said Leavitt. Leavitt said it was “to be determined” if Xi would accept the invitation. The Chinese embassy did not immediately respond to a request for comment. The invitation comes as Beijing is bracing for an escalation in the trade war that Trump launched against China in 2018. The US president-elect has already threatened to impose a 60 per cent tariff on imports from China, which would be a big increase from the levies he imposed on the country’s goods in his first term. Trump will enter office as US-China relations remain close to their worst state since the countries established diplomatic relations in 1979. Source: Financial Times, https://on.ft.com/4ir5yzY
GERMAN ENERGY PRICES ARE EXPLODING
This is not going to help... German power prices SPIKED to the levels seen during the 2022 energy CRISIS. Day-ahead prices for 5pm-6pm skyrocketed to the highest in 20 YEARS. This comes as wind generation plummeted as there has been almost no wind in recent days. Source: Global Markets Investor, Bloomberg
BREAKING: Corporate executives are now selling their stock at record levels, with the ratio of sellers to buyers hitting 6x.
Why are insiders cashing out? Source. The Kobeissi Letter, FT
‼️ US budget deficit hit a GIGANTIC $367 BILLION in November 2024.
This puts the total deficit for the first 2 months of the Fiscal Year 2025 to a TREMENDOUS $624 BILLION, the highest EVER. This has even surpassed the 2020 CRISIS LEVELS. Source: Global Markets Investor, The Daily Shot
