Good morning:.
It was fun while it lasted.
As of this moment it appears the ceasefire agreement … listed as the “Memorandum of Understanding” between Iran and the U.S. may have met an early demise as both sides are lobbing missiles … and increasing intensity of their respective threats.
Investors, of course, are stuck in limbo at the moment … not knowing if the situation will worsen or if yet another “do over” will be announced. They might have to check one of the prediction sites to keep updated.
But this is not the only threat as Spain, apparently, is said to be not living up to the expectation of financial support toward NATO and the President announced that we will halt trade with that country. One issue? According to Euronews, the U.S. has a trade surplus with the Spaniards.
Markets today are reacting to this as stocks declined in the morning session, but not in full retreat.
Meanwhile, oil prices spiked … as would be expected … and we will see later today how gasoline costs to the American consumer are adjusting. It is, however, not an easy time for many … as anything that further hurts affordability is certainly unwelcomed amid troubling announcements such as a Realtor.com report just out claiming foreclosures have reached a seven-year high.
And how are people coping?
One interesting note claims a record number of those of the GenZ age group, are still living with their parents … though, to be fair, later marriages and an increase in “social acceptability” might provide partial reasons.
On a final note for today it certainly has been fun to watch the World Cup … and I suspect it will amount to quite an increase in the sport’s interest in the U.S. for years to come.
Just watching teams run all out, non-stop, for the entire game with few breaks … unlike baseball, football or even basketball … convinces me that these athletes are perhaps in better physical shape than in any other sport.
Except for, maybe, curling.
Still, there are certainly controversies and there are growing complaints that one player is so important to the game that officials are ignoring obvious penalties … with FIFA showing great favoritism.
Yes, complaints are starting to run wild with statements that teams will be much more physically aggressive.
It seems there are plans for the World Cup …
… to get Messi
Have a great day,
Joseph G. Witthohn, CFA
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