NEW: Section (above) added identifying Key Recommendations and Super Grannies We publish on a 3-day a week schedule: – Sun eve / Mon am– SKIP MON– Tue eve / Wed am– SKIP WED – Thu eve / Fri am ________________________________________________ Today’s note will include a short video update. Please click below to view: As we move into the second week …
INTRADAY ALERT: May jobs show soft earnings growth = soft landing = Fed pause = good. We expect broadening of rally on “soft landing” thesis
in FLASH, Macro StrategyNEW: Section (above) added identifying Key Recommendations and Super Grannies Please click below to view today’s video update: Equity markets managed to break to 2023 closing and intraday highs today, taking YTD gains to 11.6% (+2.5% for the month) and now within striking distance of S&P 500 4,300. STRATEGY: Expect broadening of rally given “soft landing” strengthening The key takeaway …
Solid start to June (YTD >10% now) but June Fed FOMC key. We still like FAANG and flag 3 (or 4) FAANG laggards we like.
in FLASH, Macro StrategyNEW: Section (above) added identifying Key Recommendations and Super Grannies We publish on a 3-day a week schedule: – Sun eve / Mon am– SKIP MON– Tue eve / Wed am– SKIP WED – Thu eve / Fri am ________________________________________________ In case you missed our webinar “Super Granny” Shots last week ________________________________________________ Today’s note will include a short video update. …
Two key data points past few days. Blackbook Used cars + Debt ceiling = positive. FYI, markets don’t “blare trumpets” at the low (Oct 2022 low).
in FLASH, Macro StrategyNEW: Section (above) added identifying Key Recommendations and Super Grannies We publish on a 3-day a week schedule: – Sun eve / Mon am– SKIP MON– Tue eve / Wed am– SKIP WED – Thu eve / Fri am ________________________________________________ In case you missed our webinar “Super Granny” Shots last week ________________________________________________ In the past week, there has been a …
INTRADAY ALERT: April PCE not great, 3 items point to future disinflation = keep Fed “pause.” Stick with thematic FAANG/AI + Grannies
in FLASH, Macro StrategyNEW: Section (above) added identifying Key Recommendations and Super Grannies INTRADAY ALERT: This message is sent solely to clients of Fundstrat April Core PCE came in “hotter” than expected at 0.40% MoM vs Street 0.3%. That is a “hot print” and, at face value, should have triggered a re-pricing of Fed funds expectations (June hike into play) and higher interest …
A week of market churning (-1%… debt ceiling) but triumph of thematic investing (FAANG/AI +2.2%). Market breadth better than pundits argue as 142 stocks beating market (28%) YTD.
in FLASH, Macro StrategyNEW: Section (above) added identifying Key Recommendations and Super Grannies We publish on a 3-day a week schedule: – SKIP Sun eve / MON am (Memorial Day)– SKIP MON– Tue eve / Wed am– SKIP WED – Thu eve / Fri am ________________________________________________ In case you missed our webinar “Super Granny” Shots this week ________________________________________________ The S&P 500 is ending …
“Buy the dip” regime back since March 23, 2023 as analysis shows S&P 500 regain 2% losses <1 month, reversing "sell the rip" regime of 2022. Stick with FAANG, Industrials and tactically Regional banks.
in FLASH, Macro StrategyNEW: Notice new section (above): added so you can see our tactical ideas We publish on a 3-day a week schedule: – SKIP Sun eve / MON am (Traveling)– SKIP MON– Tue eve / Wed am– Wed eve / Thu am <– Schedule Change – SKIP Thu eve/FRI am <– Graduation ceremony to attend ________________________________________________ Tune into our webinar “Super …
FAANG default risk (CDS) less US govt = another TINA argument. Regional banks see DeMark “13” buy setup = stick with OW “temporary Fed put”
in FLASH, Macro StrategyNEW: Notice new section (above): added so you can see our tactical ideas We publish on a 3-day a week schedule: – SKIP Sun eve / MON am (Traveling)– SKIP MON– Tue eve / Wed am– SKIP WED – Thu eve / Fri am (Potential schedule change this week) ________________________________________________ Tune into our webinar “Super Granny” Shots next week 5/23 …
EPS: Less “bad” is good = inflection for fundamental equity investors = “buy the dip” returns. Week ahead light on macro data and still game of inches.
in FLASH, Macro StrategyNEW: Notice new section (above): added so you can see our tactical ideas We publish on a 3-day a week schedule: – Sun eve / MON am– SKIP MON– Tue eve / Wed am– SKIP WED – Thu eve / Fri am In our view, last week added to the constructive case for stocks in 2023. The S&P 500 itself …
Data this week strengthened pause case, while collapse in margin debt near dot-com trough. FAANG OW justified by AI TINA
in FLASH, Macro StrategyNEW: Notice new section (above): added so you can see our tactical ideas We publish on a 3-day a week schedule: – Sun eve / MON am– SKIP MON– Tue eve / Wed am– SKIP WED – Thu eve / Fri am This was a big week for inflation data with both critical April CPI (5/10) and PPI (5/11) coming …