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Earnings Warning Season Commences This Week

Earnings season commences in about 2 weeks, thus suggesting the possibility of profit warnings occurring this week.  As noted several times, quarterly economic growth is perhaps the greatest since 2003, thus suggesting profits may

Two Day FED Meeting Commences Tomorrow

Tomorrow is the commencement of a two-day FOMC meeting. It is widely expected the Committee will keep rates steady in the 5.25% to 5.5% range and might “pencil” in one more interest hike later this year and stay at

Markets Were Generally Unfazed By The CPI Data

Underlying inflation ran at a faster than expected monthly pace in August, leaving the door open for additional interest rate hikes from the Federal Reserve.  Core consumer prices—which exclude food and energy prices—advanced 0.3% from

The CPI and Budget Deficit

The WSJ reports the budget deficit for fiscal year 2023 that ends on September 30 will be $1.7 trillion.  The estimate is from the Congressional Budget office’s monthly report for August and the deficit is even worse than

A Bifurcated Day

Markets were bifurcated as the Dow was unchanged and the NASDAQ led by be technology shares retreated about 1.0% amid concern over how a Chinese ban on AAPL’s iPhone could impact other segments of the