Did you doubt the Fedspeak about data dependency? Well, you shouldn’t have. Powell confirmed that rates will be higher for longer. Some Fed folks are even asking the question, whether rates are high enough! Heads are exploding everywhere.
“Israeli strikes aren’t so bad” is the message coming out of Iran, so markets are taking it in stride. Oil had jumped but then switched to a decline. Similar with UST yields. The market is suffering the largest weekly decline since Oct, but it has been more about hot economic data and higher rates than military tensions. The drone strike was enough to matter to the various constituents but not enough to drive investments today.
That’s what NFLX is hoping folks will do, now that its no-more-sharing-passwords initiative pop is behind it. Shares are down because they’re taking away sub numbers in 2025…which no investor or analyst likes. Also no more reporting of revenue per subscriber? There should be a Netflix documentary about this decision… Today’s Wall Street Beats Roundtable is covering this name, if you want more in depth views…
Who is spending $695 per year for Amex’ Platinum card? A lot of people. Amex reported and crushed it. Spending increased by +6%. They are revamping their Delta card…with higher fees.
I find it interesting what bubbles to the top of the heap of news story rankings. Today is one on BBG about the ridiculous number of murders in Mexico, a stat which has gone up by 26% under the current Prez AMLO.
OK, I am dating myself with that title. But P&G is struggling to get customers back….after hiking prices for 2 years across its portfolio. When you’re deciding between toilet paper versus gold bars at Costco, you know you’ve overdone it with the price hikes, folks. The co raised its annual earnings growth forecast, though, as it probably will see improvements in China as well as the Middle East. But let’s try and give customers a bit of a break, ok?
If you know what I’m talking about, then you know it’s happening soon. It’s when the rewards for bitcoin miners gets cut in half. It happens every 4 years. Like cicadas. But not. So, you can read whatever story you want to read about what’s going to happen…but remember that it’s not just about traders’ demand. Think about the miners who sell to shore up their balance sheets.