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15 Aug 2024

Ulta Beauty $ULTA exploding higher in after-hours after Warren Buffett discloses a new position of 690,000 shares

Source: Barchart

15 Aug 2024

Core goods CPI plunged further into deflation territory in July ... -1.9% year/year

Source: Kevin Gordon, Bloomberg

15 Aug 2024

July US CPI fell to 2.9%, below expectations of 3.0%

ore CPI inflation fell to 3.2%, in-line with expectations of 3.2%. This marks the first month with CPI inflation below 3.0% since March 2021. However, Supercore inflation snapped back to just above the pre-COVID average after two months of outright declines. Shelter inflation also surged back to a 0.38% m/m gain after an unusual decline to 0.17% in June. This is not the perfect report the hashtag#Fed would be looking for. However, there is nothing overly concerning from what we've seen thus far. The first rate cut since 2020 is probably coming next month.

15 Aug 2024

US July CPI inflation expectations:

1. Kalshi: 2.9% 2. TD Securities: 2.9% 3. UBS: 2.9% 4. Goldman Sachs: 2.9% 5. Citigroup: 3.0% 6. Morgan Stanley: 3.0% 7. Bank of America: 3.0% 8. Barclays: 3.0% The median July CPI expectation shows headline inflation at 3.0% and Core CPI inflation at 3.2%. If today CPI inflation comes in at 2.9% or lower, it will mark the first month with inflation under 3.0% since March 2021. Today's CPI report could solidify a hashtag#fed September rate cut. Source: The Kobeissi Letter

15 Aug 2024

$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

14 Aug 2024

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

14 Aug 2024

105bps of fed rate cuts are now priced into 2024.

Source: Mike Z.

14 Aug 2024

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.

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