market update

Credit card debt hit a record $1 trillion in America. The average household carries $10,000 on their card - another record It’s nearly impossible to build wealth when you’re paying 20% interest every month. Market Prices as of 4 pm EST, 5/30/23 Macro Today, the House of Representatives...

We are 9 days away from the debt ceiling deadline. As of right now there’s no deal. Here are the effects of a breach according to Moody’s: 1 week: 1.5 million jobs lost, raising the unemployment rate from 3.4% to 5%. 2 months: 8 million jobs lost, raising the unemployment rate from 3.4...

Get ready for a whole lot of Fed talk this week ahead of the new FOMC minutes on Wednesday! Market Prices as of 4 pm EST, 5/19/23 Macro G7 members offered harsh criticism of Beijing at their three-day summit in Hiroshima. They expressed serious concerns over the militarization of the South China...

Americans are NOT paying off their credit card debt. Over 36% of U.S. adults owe more money in credit card debt than they have saved. And some are turning to credit cards to pay their mortgages.  I don’t need a PhD in economics to know this doesn’t end well. Market Prices as...

Nvidia (NASDAQ: NVDA) stock is up 106% this year. That means CEO Jensen Huang's net worth has increased to $27.3 billion, a 98% increase in just 5 months

The U.S. now spends more money on servicing its debt than national defense. Let that sink in. Market Prices as of 4 pm EST, 5/16/23 Macro US factory output bounced back in April. Industrial and manufacturing production both rose more than expected, increasing by 0.5% and 1%, respectively. The...

Institutional investors have been dumping stocks for the last 12 months. You have to ask yourself some serious questions when you see this. Market Prices as of 4 pm EST, 5/15/23 Macro According to CME Group’s FedWatch Tool, markets give virtually zero (0.4%) chance that interest will remain...

Market Prices as of 4 pm EST, 5/12/23 Macro The Group of Seven summit takes place this week in Japan. The US and its allies are expected to issue a joint statement rejecting China's use of economic retaliation in policy disputes. While China likely won’t be mentioned by name, the...

Good Morning Everyone! Here is the interest rate you will earn on your bank deposit:  - Wells Fargo: 0.15% - Citibank: 0.05% - Chase: 0.01% Meanwhile, you can earn 5% on money market fund. Do what you will with this information. …and Elon agrees - It’s time to take your money out...

Good Morning Everyone! Regional bank PacWest is up 34% in pre-market after being up 81% Friday. They slashed their dividend to conserve capital. With a 19% short interest on the stock, there is definitely some short covering going on. Market Prices as of 4pm 5/5/23 Macro “Woodstock for...

Short selling ban on bank stocks is likely about to happen. The White House is monitoring the short-selling pressure very closely. They need to avoid chaos and collapse at all costs.  This is what they did in 2008. Market Prices as of 4 pm EST, 5/4/23 Macro The US trade gap narrowed to a 4-...

Stop me if you’ve heard this one before: regional banks are down again this morning. Gold has hit an all-time high. GDP is slowing. Inflation is still too high. And the FED just raised rates into what is likely going to be a recession. Buckle up. Market Prices as of 4 pm EST, 5/3/23 Macro...

The banking system is wobbly this morning. Regional banks were down yesterday and are down AGAIN pre-market this morning. Meanwhile, the FED is going to raise rates today.  What could go wrong? Market Prices as of 4 pm EST, 5/2/23 Macro House Democrats are working to force a vote on a...

The economy is slowing. The financial system is wobbly. The FED is raising rates next week into a (likely) recession. Companies are laying people off and replacing them with AI. What a time to be alive. Market Prices as of 4 pm EST, 4/27/23 Macro In its first meeting under new governor Kazuo Ueda...

House passed a bill to increase debt "ceiling" by $1.5 TRILLION. Almost zero chance it passes through Senate.  So, will the U.S. default on its debt?  In 230 years, America has never defaulted on its debt aside from Nixon, FDR, Lincoln. Market Prices as of 4 pm EST, 4/26/23...