BREAKING: Multiple shots were fired in the vicinity of Donald Trump as he was golfing at the Trump National Golf Club in West Palm Beach
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BREAKING: The Restaurant Performance Index (RPI) fell -1.3% in July to 97.7 points, the lowest level since the 2020 lockdowns
This index tracks the health of the restaurant industry in the US by measuring sales, customer traffic, labor, and overall business conditions. Since 2021, this metric has fallen by ~8.0%, marking the largest drop since it was launched in 2002. Such a low level in the index has only been seen during recessions. Americans are pulling back on dining out as prices have been sharply rising and recently hit new all-time highs. Since 2020, food prices away from home have increased by 27.0%, and fast food prices have jumped by 31.0%. Eating out is becoming a luxury... Source: The Kobeissi Letter, Trahan Macro Research
Why not 100% stocks?
Source: Invest In Assets 📈 @InvestInAssets
Investors are currently holding one of the lowest long positions in WTI oil contracts in the last ten years.
Surce; Bloomberg, Tavi Costa
US fiscal stimulus: no surprise, we haven't seen any slowdwn in terms of spending ahead of the elections...
Source: Bloomberg, www.zerohedge.com
Google Back on Major Breakout Level
Google has consolidated 23% from its July highs and is now testing the April breakout level. While a rebound is occurring at this level, we can't exclude more pressure towards the major swing support zone at 130.66-142.44. The question remains: will the rebound continue? Source: Bloomberg
China bulls are getting tired of waiting
Source: Bloomberg
Goldman Sachs strategists say stocks unlikely to sink into bear market
Source: Bloomberg
