BY BILL GRIFFO July 29, 2023 Hey Income Hunters, Powell did his best to keep the hawkish rhetoric going, but the market has spoken … The Fed is done hiking for 2023, and there’s a sliver of a chance priced in that they could lower rates in December. Not only that, but the Fed’s own…
BY BILL GRIFFO July 26, 2023 Hey Income Hunters, Microsoft Corp (Ticker: MSFT) was trading -3% after hours due to disappointment on guidance of their Azure cloud computing business. However, this may be a red flag on how stretched the valuations are based on the tightening financial conditions. Well, now with a Fed rate hike…
BY BILL GRIFFO July 24, 2023 Hey Income Hunters, The market narrative continues to be bullish, while financial conditions are getting more bearish. Credit card delinquencies are reaching 2008 levels. This could be a macro shock that sends stocks back into the bear market. The Fed can talk about how strong the labor market is…
BY BILL GRIFFOJuly 22, 2023 Hey Income Hunters, A “Rift” is purely a disconnect between two products that normally move in sync with each other but for a number of reasons split apart before snapping back. The NASDAQ 100 special rebalancing was the cause of many rifts between the top 7 stocks in the index and a basket…
Hey Income Hunters, We may never see a week like this week again … Mega-cap stocks have outperformed the overall market to an insane degree over the past nine months. Now we head into the next week with a restructuring of the NASDAQ 100 that will take the top 7 stocks by market cap from…
Hey Income Hunters, The bull run is broadening and continues to move up and to the right on the charts. It was another strong week for the S&P 500 Index (Ticker: SPX) with a 3% rise. However, the Invesco QQQ Trust ETF (Ticker: QQQ) and Russell 2000 ETF (Ticker: IWM) were even stronger with 5%+…
Hey Income Hunters, The NASDAQ 100 index is being given a special rebalancing. Mark Sebastian was one of the first to announce this major event at his Wednesday night live event. Check out the replay if you haven’t seen it. This rebalance will ensure that funds tracking the NASDAQ 100 are in compliance…
Hey Income Hunters, All eyes are on the CPI report today after a surprise record plunge in used car prices were reported on Monday. Expectations for the number are already calling for a massive drop. Headline CPI is expected to drop from 4% to 3.1% with core expected to drop only .3 to 5%. …
Hey Income Hunters, Forecasts for Q2 earnings have been steadily increasing in the face of a bond market that warns of an impending recession. Check out the latest forecasts for S&P earnings: Consider this forecast against the highly respected Morgan Stanley analyst Mike Wilson … whose base case for S&P 500 earnings in 2023 is…
Hey Income Hunters, After 13 straight payroll beats, the 14th was pretty disappointing. Not only did the 209k come in below expectations (230k), last month was revised down 33k. The bulls came in to buy the initial down trade, with heavy call buying in the S&P 500 complex 0DTE options. However, US 10-year…