https://www.howestreet.com/2024/09/is-the-fed-rate-cut-a-warning-mark-leibovit/
PODCAST WAS RECORDED TODAY, THURSDAY, BUT WILL AIRED ON 'THIS WEEK IN MONEY' ON THE WEEKEND
BULL TRAP CONDITION CONTINUES TO EXIST DESPITE WHAT YOU HEAR IN THE MEDIA
DANGER DANGER WILL ROBINSON
Inflation is not caused by the actions of private citizens, but by the government: by an artificial expansion of the money supply required to support deficit spending. No private embezzlers or bank robbers in history have ever plundered people's savings on a scale comparable to the plunder perpetrated by the fiscal policies of statist governments.
~ Ayn Rand
U.S. Stocks Move Higher On Micron News, Upbeat Economic Data
Following the pullback seen in the previous session, stocks moved back to the upside during trading on Thursday. The major averages gave back ground after an early rally but managed to end the day firmly into positive territory.
The S&P 500 rose 23.11 points or 0.4 percent to a new record closing high of 5,745.37, the Dow advanced 260.36 points or 0.6 percent to 42,175.11 and the Nasdaq climbed 108.09 points or 0.6 percent to 18,190.29.
The early rally on Wall Street partly reflected strength in the tech sector, with chipmaker Micron (MU) helping lead the way higher.
Shares of Micron spiked by 14.7 percent after the company reported better than expected fiscal fourth quarter results and provided strong fiscal first quarter revenue guidance.
Stocks also benefited from the release of upbeat U.S. economic data, with a Labor Department report showing first-time claims for U.S. unemployment benefits unexpectedly edged lower in the week ended September 21st.
The Labor Department said initial jobless claims slipped to 218,000, a decrease of 4,000 from the previous week's revised level of 222,000.
The dip surprised economists, who had expected jobless claims to rise to 225,000 from the 219,000 originally reported for the previous week.
With the unexpected decrease, jobless claims fell to their lowest level since hitting 216,000 in the week ended May 18th.
The Commerce Department also released a report showing new orders for U.S. manufactured durable goods were virtually unchanged in the month of August.
The Commerce Department said durable goods orders came in flat in August after soaring by 9.9 percent in July. Economists had expected durable goods orders to tumble by 2.6 percent.
Excluding a decrease in orders for transportation equipment, durable goods orders climbed by 0.5 percent in August after edging down by 0.1 percent in July. Ex-transportation orders were expected to inch up by 0.1 percent.
Sector News
Airline stocks turned in some of the market's best performances on the day, with the NYSE Arca Airline Index soaring by 5.3 percent to its best closing level in over three months.
Southwest Airlines (LUV) helped lead the sector higher, surging by 5.4 percent after raising its third quarter revenue guidance and announcing a new share repurchase program.
Semiconductor stocks also saw substantial strength following the upbeat news from Micron, driving the Philadelphia Semiconductor Index up by 3.5 percent.
Computer hardware, steel and biotechnology stocks also saw considerable strength, while energy stocks moved sharply lower along with the price of crude oil.
Other Markets
In overseas trading, stock markets across the Asia-Pacific region moved sharply higher during trading on Thursday. Japan's Nikkei 225 Index surged by 2.8 percent, while China's Shanghai Composite Index soared by 3.6 percent.
The major European markets also moved to the upside on the day. While the French CAC 40 Index shot up by 2.3 percent, the German DAX Index jumped by 1.7 percent and the U.K.'s FTSE 100 Index crept up by 0.2 percent.
In the bond market, treasuries showed a lack of direction over the course of the session before closing slightly lower. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, inched up by 1.0 basis point to 3.791 percent.
Looking Ahead
Trading on Friday may be impacted by reaction to a Commerce Department report on personal income and spending, which includes the Federal Reserve's preferred inflation gauge.
OPPORTUNITY TO ACCESS MARK LEIBOVIT'S PROPRIETARY VOLUME REVERSAL INDICATOR - THIS IS THE ONLY PLACE TO DO IT!
https://www.metastock.com/prod
Yes, that's a cartoon of me. Louis Rukeyser had us dressed up in 'elf' costumes on the screen broadcast each week. I've dated myself. That occurred for me between 1988-1996. Lou didn't like any bearish comments, so myself and other elves got dumped in 1996.
WHO am I?
MARK LEIBOVIT is Chief Market Strategist for LEIBOVIT VR NEWSLETTERS a/k/a VRTrader.Com. His technical expertise is in overall market timing and stock selection based upon his proprietary VOLUME REVERSAL (TM) methodology and Annual Forecast Model.
Mark's extensive media television profile includes seven years as a consultant ‘Elf’ on “Louis Rukeyser’s Wall Street Week” television program, and over thirty years as a Market Monitor guest for PBS “The Nightly Business Report”. He also has appeared on Fox Business News, CNBC, BNN (Canada), and Bloomberg, and has been interviewed in Barrons, Business Week, Forbes and The Wall Street Journal and Michael Campbell's MoneyTalks.
In the January 2, 2020 edition of TIMER DIGEST MAGAZINE, Mark Leibovit was ranked the #1 U.S. Stock Market Timer and was previously ranked #1 Intermediate U.S. Market Timer for the ten year period December, 1997 to 2007.
He was a 'Market Maker' on the Chicago Board Options Exchange and the Midwest Options Exchange and then went on to work in the Research department of two Chicago based brokerage firms. Mr. Leibovit now publishes a series of newsletters at www.LeibovitVRNewsletters.com. He became a member of the Market Technicians Association in 1982.
Mr. Leibovit’s specialty is Volume Analysis and his proprietary Leibovit Volume Reversal Indicator is well known for forecasting accurate signals of trend direction and reversals in the equity, metals and futures markets. He has historical experience recognizing, bull and bear markets and signaling alerts prior to market crashes. His indicator is currently available on the Metastock platform.
His comprehensive study on Volume Analysis, The Trader’s Book of Volume published by McGraw-Hill is a definitive guide to volume trading. It is now also published in Chinese. Mark has appeared in speaking engagements and seminars in the U.S. and Canada.
The Walt Disney Company has been criticized (MYSELF INCLUDED) for its "woke" content and has faced backlash from conservative politicians and social media voices. Some of the criticisms include:
-
Donations to LGBTQIA+ organizations
Some shareholders have argued that Disney's donations to organizations that serve the LGBTQIA+ community are "extreme pursuits" that ignore the beliefs of most Americans.
-
Inclusion of LGBTQ+ characters
Some critics have taken issue with Disney's inclusion of LGBTQ+ characters and elements in stories, such as a same-sex kiss in Lightyear and a nonbinary character in Elemental.
-
Black Ariel in Little Mermaid
Some critics have taken issue with the inclusion of a Black Ariel in the recent Little Mermaid.
-
Economic and reputational consequences
Some claim that Disney's "woke virtue signaling" has had economic and reputational consequences, with Disney's market cap falling nearly 40% since February 2021.
- Disney's biggest priority is entertaining audiences
- Disney is focused on the future, not the past
- Disney needs to be more sensitive to the interest of a broad audience
- Disney's primary mission is to entertain and then have a positive impact on the world through entertainment
RFK Jr. Shreds Democrats for Abandoning Democracy
I USE JOEL WALLACH'S SUPPLEMENTS EVERY DAY. MAY AGAIN PROVIDE A LINK TO PURCHASE THEM HERE
COME ON, DAD. IT'S TIME TO EAT
DISCLAIMER:
WE ARE NOT FINANCIAL ADVISORS AND DO NOT PROVIDE FINANCIAL ADVICE
The website, LeibovitVRNewsletters.com, is published by LeibovitVRNewsletters LLC.
In using LeibovitVRnewsletters.com (a/k/a LeibovitVRNewsletters LLC) you agree to these Terms & Conditions governing the use of the service. These Terms & Conditions are subject to change without notice. We are publishers and are not registered as a broker-dealer or investment adviser either with the U.S. Securities and Exchange Commission or with any state securities authority.
All stocks and ETFs discussed are HYPOTHETICAL and not actual trades whose actual execution may differ markedly from prices posted on the website and in emails. This may be due internet connectivity, quote delays, data entry errors and other market conditions. Hypothetical or simulated performance results have certain inherent limitations as to liquidity and execution among other variables. PAST RESULTS ARE NOT NECESSARILY INDICATIVE OF FUTURE FORECASTING ACCURACY OR PROFITABLE TRADING RESULTS.
All investments are subject to risk, which should be considered on an individual basis before making any investment decision. We are not responsible for errors and omissions. These publications are intended solely for information and educational purposes only and the content within is not to be construed, under any circumstances, as an offer to buy or to sell or a solicitation to buy or sell or trade in any commodities or securities named within.
All commentary is provided for educational purposes only. This material is based upon information we consider reliable. However, accuracy is not guaranteed. Subscribers should always do their own investigation before investing in any security. Furthermore, you cannot be assured that your will profit or that any losses can or will be limited. It is important to know that no guarantee of any kind is implied nor possible where projections of future conditions in the markets are attempted.
Stocks and ETFs may be held by principals of LeibovitVRNewsletters LLC whose personal investment decisions including entry and exit points may differ from guidelines posted.
LeibovitVRNewsletters.com cannot and do not assess, verify or guarantee the suitability or profitability of any particular investment. You bear responsibility for your own investment research and decisions and should seek the advice of a qualified securities professional before making any investment. As an express condition of using this service and anytime after ending the service, you agree not to hold LeibovitVRNewsletters.com or any employees liable for trading losses, lost profits or other damages resulting from your use of information on the Site in any form (Web-based, email-based, or downloadable software), and you agree to indemnify and hold LeibovitVRNewsletters.com and its employees harmless from and against any and all claims, losses, liabilities, costs, and expenses (including but not limited to attorneys' fees) arising from your violation of this agreement. This paragraph is not intended to limit rights available to you or to us that may be available under the federal securities laws.
For rights, permissions, subscription and customer service, contact the publisher at mark.vrtrader@gmail.com or call at 928-282-1275 or mail to 10632 N. Scottsdale Road B-426, Scottsdale, AZ 85254.
The Leibovit Volume Reversal, Volume Reversal and Leibovit VR are registered trademarks.
© Copyright 2024. All rights reserved.
[/fusion_text][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]