a goucher
market vibes
November 19…)
“All truly great thoughts are conceived by walking” Friedrich Nietzsche
in the news
The guest list at the White House honoring MBS last night was stacked with heavyweights: Elon Musk, Jeff Bezos, Tim Cook, Jensen Huang, Stephen Schwarzman, Cristiano Ronaldo (Saudi league ambassador), Gianni Infantino (FIFA president), and many other senior dignitaries. The highlight outcome was a trillion in new US investment and KSA’s new status as a non-NATO ally.
In finance, Lowe’s missed estimates and traded up 5% this morning. Home Depot missed earnings yesterday and traded down 6%. Apart from a superb pairs trade, the mixed message is somewhat disturbing. HD slashed its FY profit outlook due to “worse-than-expected” demand. It was the third consecutive EPS miss: no storm activity, housing is slow, and foot traffic is down 0.4%.
The bear case for NVdia & AI equities in a nutshell; Nothing new, but a useful refresher considering the epiphanous post-close earnings report today.
A bullish post via Zero Hedge. I always distrust surveys unaccompanied by a sample size, but this one feels right.
Comer subpoenaed Epstein’s bank records. “If there is no Epstein list, we’ll have to construct our own.”
In the markets
The 50 day moving average seems to be technically relevant in everything this morning. “Oh jeezus it’s a goucher.”
