Bloomberg The Open 11/16/2023
Jonathan Ferro highlights the market-moving news you need to know heading into the opening bell on Wall Street.
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Retail 'slowing sales higher profitability.' What's that word = MARGIN. Wholesale prices dropping aka deflation, not passing that savings onto shoppers.
@17:02 And now we get to talk about THE WORD. I'll tell you TWO WORDS Xi will never say = BIPARTISAN DICTATORSHIP. Wake up folks! When you see who/what is 'running' the world's greatest 'democracy', you don't see a whole lot difference than the PRC. THE WORD will be headline fodder for about 3 seconds before evaporating into irrelevance.
I'll tell you, folks, you could put a blindfold on, listen to two of Bernstein's best – Contopoulos and Suzuki – and not to be able to tell who is talking. Same voice, same stoicism, same overly studious wonk-talk.
@7:28 Mike McKee (forever the voice of reason): "We're also in that period…" <– says it all
Then you have someone like Michael Contopoulos, Bernstein pouring cold water: Well, yeah, uh growth, BUT watch out in 2058 – projections way out into the next century. One would expect a pure Wall Streeter to be begging for the FED to refill the punchbowl. Thank you Jonathan for letting Tony offer a rebuttal, much more reasonable.
What about other discretionary sectors? CRUZ up 6% past 5 days! Why isn't Fear-berg talking about that?
WMT suffering from 'priced to perfection'-itis. Couple beaten down retailers catching a bid – GAP flying high, TJX rebounding.
BRBY down, Reuters says "growth in China evaporated."
Bloomberg The Open
11/16/2023