Markets are on the rise this morning as wholesale inflation numbers came in much lower than expected giving some support to last week’s reports showing the rise in inflation is slowing. Investors seem quite happy with this … as it gives more confidence in the number seen toward the end of last week.
Not as positive, there are some contradictory developments in housing … as a study concludes that both buying and selling conditions have declined. Interestingly the University of Michigan is reporting consumers are expecting home prices to drop a year from now … while individual home buyers (naively?) believe their own home values will continue to rise. Additionally, The Federal Reserve of New York reports that fewer people anticipate moving to a new home in the next 12 months.
The expectation of lower prices may result in consumers holding off on purchasing homes … especially if they also get the sense that a cut in rates might be in the future plans of the Fed.
Meanwhile … in addition to good news today on the inflation front … as far as an economic downturn is concerned Morgan Stanley sees soft growth ahead but goes on record as seeing no recession on the horizon.
Even so … we might not be entirely out of the woods yet … but while the economy of the United States does not look stellar, if we compare it to the outlook in Europe … the US seems to be much better shape.
I’ll mention one thing about the election (careful not to bring politics into the mix). US Election Project reports that a fewer percent of eligible voters in 2022 cast votes than in 2018. With so much at stake, I found this to be not only disappointing but a tremendous surprise. Is that because people don’t care or they thought that their vote didn’t matter? I don’t know but I find it quite sad to see this result.
On a final note for today it seems that nepotism exists in so many places.
I just read, a report that the CFO of Tyson Foods was arrested … as they found him intoxicated and in the bed of some woman who certainly didn’t invite him to join her in her slumber. The CFO is the 32-year-old grandson of the founder of Tyson Foods.
Fowl play is not suspected.
Have a great day,
Joseph G. Witthohn, CFA
Emerald Asset Management PA, LLC
610 Freedom Business Center Drive
King of Prussia, PA 19406
Direct: (610) 285-9905
cell: (856) 625-7915
As of 9:35 AM today …
Will the rate hikes be slowed? One fed official thanks it would be appropriate to at least consider the possibility (CNBC)
Many alternative sources of energy are being considered right now … with geothermal getting a more serious look. If it takes over as number one, what will we do with all those wind turbines? (Electrek)
Alzheimer’s it’s a severe problem among the elderly. There might be a way to realize you’re going to be afflicted 10 to 20 years early. (TheBrighterSide)
Are you planning to mail holiday guards and gifts? If so, you might want to skip the blue mailboxes bring them right to the post office. (Lifehacker)
Americans like to be number one at everything … but we probably won’t proud to find we are leading the globe and the race toward population obesity. (TheManual)
Many have shunned red meat because of the belief that it will increase your odds of getting cancer. A new study shows this might not be the case at all. (BigThink)
And one of the other foods we all seem to love? Pancakes. But there is an art to making good batter and a secret is to let it rest a while. (Mashed)
The statements above are supplied for educational purposes only. The statements depict the viewpoints and opinion of the author and are not necessarily the views of Emerald Asset Management or its affiliates. The information described herein is taken from sources which are believed to be reliable, but the accuracy and completeness of such information is not guaranteed by us.