$JPM JP Morgan Chase Q2 FY23 numbers
$JPM JP Morgan Chase Q2 FY23 numbers • Net revenue +34% Y/Y to $41.3B ($2.5B beat). • Net Income $14.5B. • EPS: $4.37 ($0.61 beat). • CET1 ratio of 13.8%. $2.7B First Republic bargain purchase gain in Corporate. Source: App Economy Insights
Disinflationary trends in the US
Disinflationary trends in the US 1) CPI Inflation: 3.0%, Lowest since March 2021. 2) PPI Inflation: 0.1%, Lowest since August 2020. 3) Import Prices: -6.1%, Lowest since May 2020. 4) Export Prices: -12%, Lowest on record. Source: Charlie Bilello
The NASDAQ (in yellow) has been massively decoupling from the FED balance sheet (in purple)
Source: The Market Ear, Refinitiv
S&P 500 peak in January 2022 vs. peaks in October 2007 and March 2000...
Source: Charlie Bilello
The spread between US CPI and PPI is a good omen for corporate profit margins
The spread between US CPI and PPI is a good omen for corporate profit margins. This is key to widening profit margins. Companies are able to boost the prices they charge consumers more and more relative to their input cost. The spread between y/y CPI and PPI remains at the widest levels since the current incarnation of PPI started in 2011. Source: Bespoke, Lisa Abramowicz
The sp500 has been anticipating the improvement in earnings (ex-Energy) expectations so far. Can these expectations be met?
Source: Bloomberg (Gina Martin Adams for the #chart)
The sp500 is now 3% above the level it was at when The Fed first hiked #rates in March 2022...
The #sp500 is now 3% above the level it was at when The #Fed first hiked #rates in March 2022...
U.S. federal judge’s ruling that XRP—the token powering the Ripple network—is not a security in certain contexts
Following a U.S. federal judge’s ruling that #XRP—the #token powering the #Ripple network—is not a security in certain contexts, a sea of green has emerged across popular #altcoins, with top coins up double-digit percentages over the past 24 hours. XRP itself is up a colossal 62% as of writing upon the news–which has seen an uproar from the self-proclaimed “XRP army” all throughout Twitter—trading above $0.76, according to data from CoinGecko. Select other altcoins, some of which were previously deemed securities by the U.S. Securities and Exchange Commission (SEC), have also benefited from the rising tide. Solana (SOL) has roared upwards with a 17% gain on the day, marking a sizable 32% increase on the week, changing hands at around $26, according to CoinGecko. Source: Decrypt
