Where are stocks headed?

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    • #6107
      Avatarrogpodge
      Participant

      Two 1k drops in a month. Asset bubbles everywhere because of lax monetary policy and a general decoupling of stock prices from fundamentals.

      Target Corp. collapsing today because of high shipping costs. Costco potentially next. Tech mini-bubble popping. I’m looking at REITs and some BDCs that fell out of favor once the Fed started raising rates. There’s a lot of worrisome data coming out of the labor markets, even while official unemployment is low.

    • #6108
      AvatarNeodymium60
      Participant

      Per your previous post,  I’d say Sri Lanka.

      (Sri is three in Creole Malay – joke)

    • #6109
      Avatarrogpodge
      Participant

      Clever, neo.

      8:30 am Initial jobless claims May 14 218,000 200,000 197,000
      8:30 am Continuing jobless claims May 7 1.32 million 1.34 million
      8:30 am Philadelphia Fed manufacturing index May 2.6 15.0 17.6

      Not terribly off expectations, although the Biden administration has been touting the low initial jobless claims.  Unfortunately, I don’t think the economy is doing well.

      https://www.marketwatch.com/story/more-u-s-subprime-borrowers-are-missing-loan-payments-11652964729

      As for that last number… “This labor market pain echoes weakness seen in recent survey data – such as ISM Manufacturing and Empire Fed and this morning we saw Philly Fed’s Business Outlook  survey plunge from 17.6 to 2.6 (massively missing expectations of 15.0).”

       

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