Good morning.
I am really at a loss right now to explain … or try to explain … markets other than to say, “confusing.” We used to say that “a rising tide lifts all boats” (stocks move together) but the waters right now appear choppy … as some stocks appear to be drowning while others in the same industry seem to have donned life jackets … leaving investors on the beach wondering if the Fed lifeguards will soon need to dive into the water.
Private payroll numbers came out this morning and … while positive … were far below expectations … which could lead to more worry from an overly concerned public (going by recent consumer sentiment reports). Even so, while still in contraction territory, the trend of “economic optimism” (according to Real Clear Markets) has been improving so the hope here is that the public will eventually breathe a sigh of relief and start to feel better overall.
Possibly adding to angst is the thought that AI will be replacing some jobs … though one article included below claims a few employers used AI instead of hiring new workers … and are not pleased with the result.
Note Amazon made an interesting announcement as their “Alexa+” … which, according to CNBC, can “serve as an agent” and do things like make appointments or even hail an Uber ride. The company is now making it free to Prime members and might be worth exploring … but be careful … you don’t want some plumber showing up just because you decided to experiment with this new toy.
This is not meant to be political, but a confusing message came from the White House.
The President has been, applaudingly, commenting on making homes more affordable yet shortly after … during a cabinet meeting … announced that he wants to “drive housing prices up for people who own their homes.” While less expensive and more plentiful “Trump Homes” are being discussed, some are finding it difficult to see how both aims would be accomplished concurrently. But, as with so many other things, we shall see.
I shouldn’t admit this, but I might start to take the GLP-1 pill, hoping this refrigerator stops calling my name so often. It just gets tougher to lose the pounds as you get older and I can certainly use some help … though a little terrified over reading side effects that some experience.
Relatedly, I came across a very interesting article on Juan Lopez Garcia who never exercised and decided to get serious at the age of 66. Now, at age 71 he just set the age record for his time in completing an “ultra-marathon” … a 31-mile run … and his biological age is now around 40 years below his physical one.
I know it is not impossible to improve … as at the age of 80 my mother decided to take daily walks and was able to comfortably go two miles a day.
The problem was that after 3 days, we couldn’t find her.
Have a great day,
Joseph G. Witthohn, CFA
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