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Off-Topic Stock Market & Crypto Discussion

AP Finance
WASHINGTON (AP) — An inflation index that is closely monitored by the Federal Reserve tumbled last month to its lowest level since April 2021, pulled down by lower gas prices and slower-rising food costs.

At the same time, consumers barely increased their spending last month, boosting it just 0.1%, after a solid 0.6% gain in April.
 

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09:45USDS&P Global Manufacturing PMI(Jun) 46.3046.346.3
10:00USDConstruction Spending (MoM)(May) --0.5% 1.2%
10:00USDISM Manufacturing Employment Index(Jun) 48.1--51.4
10:00USDISM Manufacturing New Orders Index(Jun) 45.6-4442.6
10:00USDISM Manufacturing PMI(Jun) 46-47.246.9
10:00USDISM Manufacturing Prices Paid(Jun) 41.8--44.2
Manufacturing is not expanding, but new orders were up.
 
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Since we are talking about food. $CAVA is interesting. Traded it for quick 20% on day 1. Waiting for the bottom to break though. But long-term looks solid. Buyer beware as cnbc has been pumping them on Green Days.

They bought out Zoe’s kitchen a few years ago.
 
07:30USDChallenger Job Cuts(Jun) 40.709K--80.089K
08:15USDADP Employment Change(Jun) 497K3.10228K267K
08:30USDContinuing Jobless Claims(Jun 23) 1.72M-1.721.751M1.733M
08:30USDGoods and Services Trade Balance(May) $-69B0.80$-69.8B$-74.4B
08:30USDGoods Trade Balance(May) $-91.26B--$-91.1B
08:30USDInitial Jobless Claims(Jun 30) 248K0.17245K236K
08:30USDInitial Jobless Claims 4-week average(Jun 30) 253.25K--256.75K
Jobs^^^
 

08:30		USDTotal Vehicle Sales(May)15.6M0.3115.3M15.1M
08:45USDS&P Global Composite PMI(Jun)53.20.105353
08:45USDS&P Global Services PMI(Jun)54.40.2554.154.1
09:00USDISM Services Employment Index(Jun)53.1--49.2
09:00USDISM Services New Orders Index(Jun)55.5-0.1155.952.9
09:00USDISM Services PMI(Jun)53.91.095150.3
09:00USDISM Services Prices Paid(Jun)54.10.2953.356.2
09:00USDJOLTS Job Openings(May)9.8M-0.279.93M10.3M
10:00USDEIA Crude Oil Stocks Change(Jun 30)-1.508M---9.603M

Still strong growth in the non-manufacturing sector. [any number over 50 shows growth]
the Fed will raise rates unless we have a very big drop in inflation.
right now….we are in a lose/lose situation. Weak economic indicators and the mkt will drop… strong mkt. indicators and the mkt. fears rate hikes.
 
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08:30		USDAverage Hourly Earnings (MoM)(Jun)0.4% 1.020.3%0.4%
08:30USDAverage Hourly Earnings (YoY)(Jun)4.4% 0.904.2%4.4%
08:30USDAverage Weekly Hours(Jun)34.40.5234.334.3
08:30USDLabor Force Participation Rate(Jun)62.6% --62.6%
08:30USDNonfarm Payrolls(Jun)209K-0.14225K306K
08:30USDU6 Underemployment Rate(Jun)6.9% --6.7%
08:30USDUnemployment Rate(Jun)3.6% 03.6%3.7%

non-farm payrolls are down a bit…Still strong
Fed should keep pausing.
 
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CNN

Bank of America accused of opening fake accounts and charging illegal junk fees​

Federal regulators said Tuesday they found that Bank of America harmed customers by double-dipping on fees, withholding credit card rewards and opening fake accounts, all of which are violations of various consumer financial protection laws.

As a result, the Consumer Financial Protection Bureau ordered Bank of America (BAC)to pay more than $100 million to customers and $90 million in penalties. The Office of the Comptroller of the Currency also ordered Bank of America (BAC) to pay $60 million in fines.

The bank is the second largest in the United States, serving 68 million individuals and small businesses.

Oversight?
 
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We have not seen price jumps following Aug ‘22. If prices remain steady from here on for the next 12 months, the Fed can call of the dogs completely.
 
mr.h said:
CNN

Bank of America accused of opening fake accounts and charging illegal junk fees​

Federal regulators said Tuesday they found that Bank of America harmed customers by double-dipping on fees, withholding credit card rewards and opening fake accounts, all of which are violations of various consumer financial protection laws.

As a result, the Consumer Financial Protection Bureau ordered Bank of America (BAC)to pay more than $100 million to customers and $90 million in penalties. The Office of the Comptroller of the Currency also ordered Bank of America (BAC) to pay $60 million in fines.

The bank is the second largest in the United States, serving 68 million individuals and small businesses.

Oversight?
Click to expand...

Its a management failing more than an oversight failing. This is a esG (governance) issue, so their ESG score should drop, right?
 
SpikeUM said:
Its a management failing more than an oversight failing. This is a esG (governance) issue, so their ESG score should drop, right?
Click to expand...
I don’t know what else goes into an ESG score. Bottom line, they are one of the biggest banks and they will pay their fine.
 
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WEDNESDAY, JULY 12
07:00USDMBA Mortgage Applications(Jul 7)0.9% ---4.4%
08:30USDConsumer Price Index (MoM)(Jun)0.2% -1.250.3%0.1%
08:30USDConsumer Price Index (YoY)(Jun)3% -0.743.1%4%
08:30USDConsumer Price Index Core s.a(Jun)---307.82
08:30USDConsumer Price Index ex Food & Energy (MoM)(Jun)0.2% -2.500.3%0.4%
08:30USDConsumer Price Index ex Food & Energy (YoY)(Jun)4.8% -5.005%5.3%
INFLATION HAS FALLEN!!!!
Rick Flair Crypto GIF by BitPal


Consumer prices rose at the slowest pace since March 2021 as inflation showed further signs of cooling in June, according to the latest data from the Bureau of Labor Statistics released Wednesday morning.
 
Ladies and gentlemen, this is your Captain speaking. Please prepare for a soft landing.
Crash Plane GIF
 
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