The US Producer Price Index surged by 0.6% MoM in February 2024, marking the largest increase since August and surpassing expectations.
Goods prices rose notably, led by a 4.4% surge in energy costs. Meanwhile, services edged up by 0.3%. Despite a slowdown in core rate growth, yearly inflation accelerated to 1.6%, surpassing forecasts. YoY: 1.6% vs 1.1% est. MoM: 0.6% vs 0.3% est. Core YoY: 2% vs 1.9% est. Core MoM: 0.3% vs 0.2% est. Bottom-line >>> PPI came in stronger than expected driven by a surge in energy costs and higher insurance costs among other categories. Not a breakout to the upside, but declining trend is leveling off.
Visualizing the Rise of the U.S. as Top Crude Oil Producer - by Elements & Visual Capitalist
Over the last decade, the United States has established itself as the world’s top producer of crude oil, surpassing Saudi Arabia and Russia. This infographic illustrates the rise of the U.S. as the biggest oil producer, based on data from the U.S. Energy Information Administration (EIA).
Bitcoin
Source: Dylan LeClair
Telegram, a global social media and messaging giant that only ~1 in 4 Americans are actually familiar with, has just reached 900 million monthly active users globally.
Despite its relatively low profile in the US, the platform has been making waves in other countries since its launch in 2013 — largely thanks to its apparent emphasis on privacy and security, which has helped it notch hundreds of millions of downloads in India, parts of South America, and Russia, where the app was originally founded. Telegram is many things to many people. It’s a place to joke with friends; a means for freedom fighters to arrange protests; a valuable outlet to get news to readers where media is censored… but, it’s also a place where people go to buy guns, drugs, fake bank cards, and was (or maybe still is) a major platform for terror groups to organize and spread information on. Source: Chartr
In case you missed it...energy stocks relative performance vs sp500 has turned around at the end of February...
Source: J-C Parets
AI, electric vehicles and bitcoin mining will all need electricity
Source: Bloomberg
Why you need to invest, in one chart...
Over the last 30 years, the purchasing power of the US consumer dollar has been cut in half due to inflation. At the same time, the sp500 has gained 840% (7.8% per year) after adjusting for inflation... Source: Charlie Bilello
Wealth Needed to Join the Top 1%, by Country
https://lnkd.in/ggijSHbK Source: Visual Capitalist
