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Deciphering February CPI Data
Article By:
Chris Svorcik
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Tuesday, February 21, 2023 10:33 AM EDT
The market continues to surprise many, with calls for “this rally is too extended”, “higher for longer (both CPI and rates)”, and of course, “Oh look! meme stocks are on a run again, we know how that ends!”.
Home Depot Earnings Reflect Slowing Housing Market
Article By:
Greg Feirman
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Tuesday, February 21, 2023 10:02 AM EDT
4Q22 results just out from Home Depot are finally reflecting the slowdown in the housing market. Comps decreased 0.3% compared to a year ago and HD guided to flat comp growth in 2023. Customer transactions in the quarter were down 6% to 378.5M.
In this article: HD
Do Declining Imports Signal And Imminent Recession?
Article By:
Menzie Chinn
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Tuesday, February 21, 2023 9:29 AM EDT
LA port traffic is down. A decline in port traffic usually signals a downturn in imports. Does this signal a recession is imminent?
Upside Surprise In UK's Flash PMI And January Public Finances Lift Sterling
Article By:
Marc Chandler
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Tuesday, February 21, 2023 9:03 AM EDT
Rising interest rates are weighing on risk appetites and the dollar is broadly stronger. Sterling is a notable exception after a stronger than expected flash PMI and better than expected public finances.
The S&P 500 In A New Market Regime?
Article By:
Ironman
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Tuesday, February 21, 2023 8:00 AM EDT
The S&P 500 retreated 0.3% from the previous week's close to reach a value of 4079.09 during the trading week ending on Friday, February 17, 2023. That puts the index 15% below its record high peak of 4,796.56 set back on January 3, 2022.
Intraday Technical Analysis Of Home Depot Inc. - Tuesday, Feb. 21
Article By:
AAATrade
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Tuesday, February 21, 2023 7:27 AM EDT
Home Depot is announcing quarterly earnings today, if the market’s expectation is positive, the stock’s price should rise higher to test its resistance level at around $330. On the other hand, it could dip towards its support level at around $310.
In this article: HD
Fed Has No Choice But To Engineer Economic Contraction
Article By:
Paban Pandey
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Tuesday, February 21, 2023 7:03 AM EDT
The fed funds rate has gone up more than 450 basis points since last March and more tightening is on the way. This is yet to sufficiently make a serious dent in consumer inflation even as economic data particularly surrounding jobs have strengthened.
Surging Homes For Sale And Mean-reverting Prices
Video By:
Danielle Park, CFA
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Tuesday, February 21, 2023 6:32 AM EDT
Surging home inventories and mean-reverting prices are excellent for those seeking attractive entry opportunities. But housing downcycles have historically taken an average of four years to bottom. So, patience and cycle foresight are key.
Daily Stock Analysis: Banco Bilbao Vizcaya Argentaria
Article By:
Fredrik Arnold
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Tuesday, February 21, 2023 6:01 AM EDT
Despite its Spanish origins, BBVA generates three quarters of its profits in emerging markets, especially Mexico that contributes nearly half of BBVA's net profit.
In this article: BBVA
Soybeans: Joint Price Momentum At The CBOT And Dalian Commodity Exchange
Article By:
Pavan Parikh
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Tuesday, February 21, 2023 5:00 AM EDT
Soybean March-to-May futures look odd in their atypical upsurge across the entire grain-and-bean group. On Friday, February 17, the most-active soybean contract on the Chicago Board of Trade was up to $1539-2 (+$12-0 a bushel) at the close.
In this article: SOYB
Rates Spark: Looking Backward To Economic Data And Forward To Geopolitics
Article By:
ING Economics
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Tuesday, February 21, 2023 3:46 AM EDT
Today promises another series of upbeat indicators reinforcing the higher-for-longer narrative. Euro rates appear to have only just reached fair value, helping to explain why investors still look at them with suspicion.
