The Daily Shot® Brief

Greetings,

 

The United States: The market reaction to the CPI report was muted. Treasury yields declined.

China: The PPI remains well below last year’s levels.

Cryptocurrency: Trading volumes surged for US spot-bitcoin ETFs on Thursday.

Commodities: The selloff in iron ore has accelerated.

Energy: Here is a look at wind and solar contributions to the global power mix.

Equities: Bullish positioning tends to cap the upside for stocks.

Food for Thought: New England’s winning percentage under Bill Belichick:

Edited by Josh Oldmixon

Contact the Daily Shot Editor: Brief@DailyShotResearch.com

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Greetings,

 

The United States: Wage growth will likely slow from here, according to Oxford Economics.

Cryptocurrency: The SEC finally approved US spot-bitcoin ETFs. There was a spike in BTC buying activity on Binance Wednesday surrounding the approval.

Equities: Rolling 12-month forward earnings estimates for the S&P 500 hit a record high.

The Eurozone: Some of the most indebted Eurozone states have significantly reduced their debt ratios.

Emerging Markets: Several EM trade balances have improved relative to the past six months, which could be a positive for local currencies.

Energy: Last week saw another large increase in US refined product inventories.

Food for Thought: Legalization of cannabis in the US:

Edited by William Villacis

Contact the Daily Shot Editor: Brief@DailyShotResearch.com

Subscribe to the Daily ShotAverage hourly wages for US teens: Brief

Greetings,

 

The United States: Personal bankruptcy filings remain relatively low.

The Eurozone: Italian equities have been outperforming the S&P 500.

Commodities: The correction in orange juice prices continues.

Energy: US natural gas futures have been rebounding, but elevated inventories will be a headwind for prices.

Equities: The S&P 500 could benefit when the Fed ends its balance sheet shrinkage, especially amid rate cuts.

Credit: US office vacancy rates hit a record high

Rates: How do Treasury yields change ahead of the Fed’s first rate cut?

Food for Thought: Amazon deforestation:

Edited by Josh Oldmixon

Contact the Daily Shot Editor: Brief@DailyShotResearch.com

Subscribe to the Daily ShotAverage hourly wages for US teens: Brief

Greetings,

 

The United States: US consumer credit rose sharply in November, exceeding $5 trillion for the first time.

The Eurozone: Germany industrial production continues to tumble (six consecutive declines in a row).

Equities: The scale of downward earnings revisions for 2024 has been notably less severe compared to the usual trend.

Credit: Banks can borrow from the Fed’s term funding program (BTFP) for less than what the Fed pays on their reserves.

Emerging Markets: Here is a look at this year’s elections across EM economies.

Commodities: Gold and silver have diverged sharply in recent weeks.

Energy: Crude oil futures softened on Monday, influenced by Saudi Arabia’s decision to reduce prices for their Asian customers.

Food for Thought: Theft rates:

Edited by William Villacis

Contact the Daily Shot Editor: Brief@DailyShotResearch.com

Subscribe to the Daily ShotAverage hourly wages for US teens: Brief

Greetings,

 

The United States: Last month’s job growth surprised to the upside. This report deviated from the Fed’s anticipated trend of a loosening labor market.

Market expectations for the 2024 rate cuts eased further but remain much deeper than the FOMC’s forecast.

The Eurozone: The market has been scaling back its ECB rate-cut expectations.

Equities: S&P 500 breadth has significantly improved, which typically signals lasting internal momentum during bull markets.

However, there are signs of short-term breadth deterioration.

China: Despite Beijing’s efforts, stocks remain under pressure, with the CSI 300 Index at its lowest since 2019.

Emerging Markets: Brazil’s trade surplus climbed in December, topping expectations.

Food for Thought: Buy Now Pay Later online spending:

Edited by William Villacis

Contact the Daily Shot Editor: Brief@DailyShotResearch.com

Subscribe to the Daily ShotAverage hourly wages for US teens: Brief

Greetings,

 

The United States: Morgan Stanley sees the unemployment rate edging higher (1st panel) as more Americans enter the labor force (2nd panel).

The United Kingdom: Inflation expectations have been trending lower.

Cryptocurrency: Retail investors have been buying crypto-focused stocks.

Energy: Hedge funds remain very cautious on energy shares.

Equities: Equity fund flows have been robust.

Rates: The Fed typically cuts rates within eight months after its first pause.

Food for Thought: Average weekly cybersecurity attacks per industry:

Edited by Josh Oldmixon

Contact the Daily Shot Editor: Brief@DailyShotResearch.com

Subscribe to the Daily ShotAverage hourly wages for US teens: Brief

Greetings,

 

The United States:  The ISM manufacturing index has been in contraction territory for 14 months in a row, while new orders have declined for 16 consecutive months.

Job openings continue to fall, supporting the Fed’s goal of slower demand.

Cryptocurrency: Bitcoin declined sharply as volatility surged ahead of the ETF decision.

Equities: Here is Goldman’s positioning indicator.

Credit: US multi-family debt delinquencies continue to rise.

Energy: Crude oil is firmer amid tensions in the Middle East and the Libya oilfield shutdown.

Europe: The EU is a key market for China’s EV exports.

Food for Thought: Coffee bean trade flows:

Edited by William Villacis

Contact the Daily Shot Editor: Brief@DailyShotResearch.com

Subscribe to the Daily ShotAverage hourly wages for US teens: Brief

Greetings,

 

The United States:  Manufacturing construction spending continues to climb, driven by semiconductor facility investment.

The United Kingdom: When will the ECB begin cutting rates?

China: Properties are taking longer to sell.

Cryptocurrency: Ether continues to lag.

Equities: Analysts are upbeat about this year’s tech mega-cap performance.

Rates: Repo rates are elevated, pointing to tight liquidity.

Food for Thought: GRE scores across college majors:

Edited by Josh Oldmixon

Contact the Daily Shot Editor: Brief@DailyShotResearch.com

Subscribe to the Daily ShotAverage hourly wages for US teens: Brief

Greetings,

 

The United States:  The core PCE inflation (the Fed’s preferred measure) slowed more than expected.

The Eurozone: When will the ECB begin cutting rates?

China: Consumer sentiment has been awful.

Equities: Here is the relative performance of the S&P 500 equal-weight index.

Here is S&P 500 sector performance for 2023.

Global Developments: Global investment-grade bonds just had their best two months on record

Commodities: Rice prices continue to climb.

Food for Thought: Weekly working hours and wages:

Edited by William Villacis

Contact the Daily Shot Editor: Brief@DailyShotResearch.com

Subscribe to the Daily ShotAverage hourly wages for US teens: Brief

Greetings,

 

The United States: The Conference Board’s index of leading indicators has declined for 20 months in a row.

The United Kingdom: Retail sales have been weak this month.

Japan: The CPI eased in November, in line with forecasts. Core inflation remains sticky.

Emerging Markets: Turkey’s central bank hiked rates again, this time by 250 bps.

Equities: Fund managers are less sure about large caps outperforming small caps.

Food for Thought: Office space per worker:

Edited by Josh Oldmixon

Contact the Daily Shot Editor: Brief@DailyShotResearch.com

Subscribe to the Daily ShotAverage hourly wages for US teens: Brief