The Morning Call
12/2/21
The Market
Technical
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.
Fundamental
Headlines
The Economy
US
October construction spending was up 0.2% versus expectations of up 0.4%.
Construction Spending Increased 0.2% in October
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.
International
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.
Other
October median household income.
Political Calculations: Median Household Income in October 2021
The Fed
The velocity of M2
So You Want to Be a Monetarist!
Fiscal Policy
The absurdity of Biden’s claim that his infrastructure bill is free.
The Biden-Buttigieg Pitch: It's All 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
Bitcoin and Electricity - Marginal REVOLUTION
Assured misery.
Fossil fuels are good.
Let's Go Brendan! (fossil fuels to the rescue, explains SPIKED political editor) - Master Resource
Visit Investing for Survival’s website (Home | Investing for Survival | Investingforsurvival.com) to learn more about our Investment Strategy, Prices Disciplines and Subscriber Service.