The United States: Manufacturing activity at the national level is probably in contraction mode.
Also, it’s only a matter of time before unemployment applications start picking up as labor demand slows.
China: Lockdowns have resulted in a fiscal shock.
Cryptocurrency: Retail investors have been providing liquidity to institutions dumping crypto-linked stocks and ETFs.
Equities: The Philly Fed’s manufacturing report points to severe deterioration in corporate earnings ahead.
Next, the S&P 600’s forward P/E is at its lowest since the financial crisis. This index covers the small cap range of American stocks.
Global Developments: Corporate margins remain elevated. Analysts expect them to move much lower going forward.
Food for Thought: Lastly, let’s look at the share of workers earning less than two-thirds of median earnings across different countries.
Edited by Alexander Bowers
Contact the Daily Shot Editor: Brief@DailyShotResearch.com