September 2023
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Tuesday, Costco (COST) From a top-down perspective, Costco will provide data relative to consumer spending and inflation. The warehouse club has done an exceptional job growing their membership numbers by keeping costs competitive on non-discretionary goods, including gasoline, through the pandemic. For a stock-picking perspective, alongside Walmart and Amazon, Costco is one of the three…
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The Week Behind A day after the FOMC showcased a resolutely hawkish Fed, long bond yields gapped to new cycle highs causing stocks to capitulate lower. In a losing week for the indices, the NASDAQ declined ~3.6%; the S&P 500 lost ~2.8%; and the Dow dropped 2%. Highlights It Is How This Game Is Played…
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The Week Behind Although it was a busy week, net-net, major events aligned with consensus. As a result, the major indices ended the week roughly where they started. Oracle and Adobe both, as predicted, declined despite solid quarters. Arm Holdings’ successful IPO built on capital market enthusiasm. Inflation prints did not disrupt the Fed-inflation narrative.…
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The Week Behind Despite offsetting inflation readings, the key market mover was the CCP’s ban on iPhones for government employees. The news caused a 6% decline in Apple (AAPL) shares. As a result, the major indices ended the week in negative territory, with the NASDAQ, S&P 500, and Dow closing approximately 2%, 1.3%, and 0.75%…
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The Week Behind Although benign macro data allowed the major indices to record impressive weekly performances, the market still feels fragile as downward pressure from the US10Y yield persistently reminds investors that the Fed’s battle with inflation remains the dominant concern. The NASDAQ, S&P 500, and Dow closed the week approximately 3.25%, 2.50%, and 1.50%…
Gorilla With Glasses 