Thursday's US stock market heat map. $NVDA is literally holding up the entire market.
Source: The Kobeissi Letter
Jamie Dimon does not rule out a hard landing for the US economy
Source: CNBC
Bears are capitulating...
Mike Wilson chief equity strategist of Morgan Stanley has revised his price target of the S&P 500 from 4,500 to 5,400 Notoriously a market bear, he had previously predicted a 15% drop by December for the index. Source: Radar, The Macro Guy, Bloomberg
Want to buy a home?
1980: save for a couple years 2024: forget about it Source: Michael Burry Stock Tracker
The cost of servicing US government debt is on course to surpass defense spending
Source: Bloomberg, Michael McDonough
US Demographics
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We've seen a pretty big move in Presidential betting odds over the last week
Trump now holds a 6.3 point lead on Biden and Republicans are now on top in the generic head to head. From @maximlott at https://lnkd.in/dT6EHQvp thru bespoke
SUMMARY OF FED CHAIR POWELL'S COMMENTS (5/14/24):
1. "Overall a good picture looking at US economic data" 2. Inflation was notable in Q1 for the lack of further progress 3. Housing inflation has been a bit of a puzzle for the Fed 4. Restrictive policy may take longer than expected to lower inflation 5. Unlikely the Fed's next move will be an interest rate hike 6. "Credibility is everything for central banks" Source: The Kobeissi Letter
