The Morning Call
Wednesday in the charts.
The Dow fell below its 200 DMA; if it remains there though next Monday, it will revert to resistance. The S&P closed below the lower boundary of its short term uptrend for the second day; if it ends there today, it will reset to a trading range.
October construction spending was up 0.2% versus expectations of up 0.4%.
The November final manufacturing PMI came in at 58.3 versus estimates of 59.1.
The November ISM manufacturing index was reported at 61.1 versus predictions of 61.0.
The October EU unemployment rates was 7.3%, in line; October PPI was 5.4% versus 3.5%.
November Japanese consumer confidence came in at 39.2 versus consensus of 40.0.
October median household income.
The velocity of M2
The absurdity of Biden’s claim that his infrastructure bill is free.
News on Stocks in Our Portfolios
Kroger (NYSE:KR): Q3 Non-GAAP EPS of $0.78 beats by $0.11; GAAP EPS of $0.64 misses by $0.07.
Revenue of $31.9B (+7.3% Y/Y) beats by $680M.
What I am reading today
Bitcoin and electricity
Fossil fuels are good.
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