$SBUX Starbucks replaces CEO Laxman Narasimhan with $CMG Chipotle CEO Brian Niccol
$CMG Chipotle's stock is up 773% since Brian Niccol became CEO in March 2018 Just 9 S&P 500 stocks have performed better than $CMG since March 2018 $SBUX must have paid him the star bucks... Source: Stocktwits
The European Commission has denied that its internal market commissioner had approval from Ursula von der Leyen to send the letter
one EU official saying, 'Thierry has his own mind and way of working and thinking'. Source: FT
105bps of fed rate cuts are now priced into 2024.
Source: Mike Z.
BREAKING: US July PP inflation falls to 2.2%, below expectations of 2.3%
Core PPI inflation falls to 2.4%, below expectations of 2.7%. This is the first drop in Core PPI YoY since December last year... In another constructive sign, PPI inflation is now at its lowest level since March 2024. A September hashtag#fed rate cut seems to be on its way. PPI numbers in a nutshell: - PPI 0.1% MoM, Exp. 0.2% - PPI Core 0.0% MoM, Exp. 0.2% - PPI 2.2% YoY, Exp. 2.3% - PPI Core 2.4% YoY, Exp. 2.6% Source: The Kobeissi Letter, US Department of Labor, Mike Z.
The Interest Expense on US Public Debt rose to a record $1.11 trillion over the last 12 months, more than doubling over the past two years
At the current pace it will soon be the largest line item in the Federal budget, surpassing Social Security. Source: Charlie Bilello
"Dr Doom" Nouriel Rouvinsi is upbeat about the economy
Source: Fortune
BREAKING: Elon Musk will interview Donald Trump at 8pm ET tonight on X.
Ahead of the interview, the European Commission issued a letter to Elon Musk demanding that he CENSOR Donald Trump in their upcoming interview. They are even threatening him with "legal obligations" if he fails to stop the "disinformation"... They talk about "ensuring freedom of expression" and of "information being protected"... Source: www.zerohedge.com
Is the US regional bank crisis worsening?
Summit State Bank's Q2 Earnings Plummet. Q2 2024 Net Income: $928,000 Drops -67% from Q2 2023 Net Income $2,985,000. Earnings Decline: 69%. Stock Drop: -15%. $SSBI. Source: The Coastal Journal
