On this week's episode Tom, Jacob, and Carissa talk about Kroger's call on food inflation, Blackstone's 7% down day, the what and why of the Santa Claus rally, and the key indicators of a recession from oil and gas prices to lumber and the Fed.
Feel free to shoot us an email at laminatemoneypodcast@fjellcapital.com for questions or suggestions for future topics.
Show Notes
The Good:Kroger's call on food inflation.
The Bad: Blackstone Real Estate Income Trust Inc., exceeded its monthly limit of 2% of its net-asset value.
The Comical: The stock market could have a jolly December.
Head Scratcher of the week: Audience claps for Sam Bankman-fried.
What is going on?
- The strong November job reports keep the Fed on track to raise interest rates by a half percentage point. Jobs are still strong Employers added 263,000 jobs in November and the unemployment rate held steady at 3.7%. Markets didn't like that.
- Federal Reserve Chairman Jerome Powell confirmed Wednesday that smaller interest rate increases are likely ahead...Powell said he expects the Fed can start slowing down as soon as the December meeting, and that is pretty much all the market heard.
- Tesla delivered its first electric semi to PepsiCo. “We completed our first cargo run with a very enormous amount of Frito-Lays,” Mr. Musk said.
- Oil and gas prices are below pre war levels, a signal that a recession is looming and also raises the chances that OPEC+ cuts production
- Biggest Win: Fixed income - 10 year is down to 3.4% - This is a huge boom and something we knew would be coming.
- Time Machine: Lumber prices are the worst performing commodity this year. down a stagering 65.5% this year.
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