SUMMARY OF FED CHAIR POWELL'S COMMENTS (7/2/24):
1. The trend of disinflation appears to be resuming 2. Need to be more confident before reducing rates 3. Fed doesn't see 2% inflation "this year or next year" 4. Budget deficit is very large and unsustainable 5. 4% unemployment is still a very low unemployment rate 6. Moving too fast creates risk of inflation returning The Fed needs more data before rate cuts can begin. Source: The Kobeissi Letter
Odds of Biden being nominated as Democrat candidate are plummeting today (Betting sites).
What's going on? Source: Bloomberg, Lawrence McDonald
The price of a Big Mac vs. the US in selected countries
Source: Voronoi
We've never before had so few stocks outperforming the S&P 500.
Source: NDR, Willie Delwiche
The first half of the year was a Tale of 2 Markets...
-Best of times: US large cap growth stocks, short duration bonds, US Dollar -Worst of times: Small caps, value, international, long duration bonds, Japanese Yen Source: Charlie Bilello
2024 has been the best H1 start out of all election years going back to 1952
Source: Grant Hawkridge
Hedgeye is unbeaten
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APPLE IS EXPECTING BIG IPHONE 16 SALES, BASED ON CHIP ORDERS.
STOCK CLOSED UP NEARLY 3% Apple $AAPL has reportedly increased its chip order with TSMC $TSM, With the increased order in place, Apple is supposedly preparing to sell between 90M and 100M units of the iPhone 16 - Apple Insider
