Dear Old Friend, Greetings from somewhere over France. While I’m always game for financial adventure, I’m prone to technological mishap. Those Apple Store classes where they teach spry grandparents how to operate their smartphones? Those were likely designed for me… but I’m too stubborn to read an instruction manual or listen to a member of […]
Archives for June 2023
June 2023 - Page 5 of 5 - Money Morning - Only the News You Can Profit From
Apple’s New Headset Drops, Crypto Melts Down, and Another Economic Indicator Bites the Dust
U.S. equities moved lower, as tech erased its early gains after Apple Inc.’s (AAPL) Worldwide Developers Conference (WWDC) debut of its new mixed-reality headset. While mainstream media generally lauded the technology, many armchair analysts took to Twitter, calling it "iterative" of what is already out on the market. Surprisingly, oil also fell even after Saudi […]
Postcards: The Secret Behind Record Oil Profits
Dear Old Friend, I’m a bit behind today. It’s odd – the fact that it’s 3 pm in Switzerland as I write to you. I have been up for six hours, but I feel like I’ve only been active for 15 minutes. I need to get out of this house – as it’s our last […]
Week Ahead: Oil Cuts, Jobless Claims, and Consumer Packaged Goods Earnings
Good Morning, It’s Alex Kagin here. Today I’m running through the most important things happening in the market this week and what we can look forward to now with a signed agreement to raise the debt ceiling. And in case you missed it over the weekend, OPEC+ agreed to some pretty big cuts. Saudi Arabia […]
Postcards - Do This Whenever You See Buffett Buy OXY
Dear Old Friend, I always told myself I wouldn’t be a “helicopter parent” – hovering over my child and making sure she didn’t get scrapes or bruises. But this morning, until I finally caught myself, I told my daughter to slow down, not run down the trails, and hold my hand while slowly descending rocky […]
Postcards: Take Gains Ahead of OPEC
Dear Old Friend, Luzern, Switzerland, is a fascinating place. But not as fascinating as the mathematics behind American debt ceiling accounting. You’re waking up this morning to the Senate passing a debt ceiling deal with few voices standing up to the absurdities of it all. We plan to add another $4 trillion in new debt […]
AI Gets a Boost, Fed Pause and Weak Retail Sales
The Biden-McCarthy debt ceiling deal passed the Senate late last night and will move onto the President's desk, preventing what might have been a U.S. debt default. After a brief slowdown in the unstoppable, artificial intelligence-fueled advance of big tech, the sector is back in full force. Nvidia Corp. (NVDA) climbed roughly 5% on the […]
Postcards: This Mystery Trader Just Quadrupled Their Money
Dear Old Friend, The Swiss lakes are lovely. But I can’t say the same about this debt deal. Yesterday, we saw more choppiness, and a large move down in the financial and energy sectors. This morning, futures are largely flat after the House of Representatives passed a farcical debt ceiling hike that does nothing to […]
Stocks Fade on Jobs Data and Growing Risk of Recession
Equities extended losses for the second day as the Labor Department’s JOLTS report showed job openings unexpectedly surged to over 10 million in April – the highest number in three months. While this release reinforced speculation the Federal Reserve will have room for another interest-rate hike over the next two meetings, it’s very hard to […]