What higher for longer means with Interest Rates. We had conversations yesterday that to me were troubling and i started to think about things. It was transitory. The supply chain part. Transitory. There is maybe an underlining rate of inflation that is higher and it is harder to deal with and it has to deal with crude. It reminds me now it is supposedly not like the volcker era. Wages and unions and workers demanding more. The wage price spiral that picks up and higher wages. Thats what the fed is watching. We paused and only to restart. It was not putting a stake in the heart of it in the first place. A little bit stays and it comes back and you do higher. Stop again. It was the stop and start of the 70s which is what happened. Is that happening again . If you look at inflation in other parts of the globe, it is higher. The uk is operating at 6 . They dobnt have the dollar. That bugs me. 3 . South america averaging 30 . It used to be higher inflation. How many is a candy bar in zimba
20 of stocks in bear market territory. 2. 5 trillion lost you have heard it all. Now i just have to keep in front of you that much of the selling we saw today was deeply related again. Made by clueless Money Managers who expect things remain calm as they had for ages. In the end, we rebounded today dow rallying 330 points and 800 points from enter day bottom we rallied late in the day bargain hunters stepped in to save it for the bulls. How will things play out going further . Lets go to the game plan next week to find out this is really important and i am going to keep my eye on funds. To see if the madness continues. These funds led the market down today and when they started to rebound, they took the market with them as much as i hate them they are useless and they are totally and completely utterly in charge and do not let anyone tell you ourselves the market insane reaction was field by reactors who made big bets and did it with borrowed money. Brokers demanded they meet more capi
Week look at what happened overnight in asia. The nikkei eking out another gain a gain of 9 points, but thats the 14th day in a row that weve been looking at gains for the nikkei these are the highest levels weve seen in 21 years nikkei closing at 21,457 the hang seng with a gain of 1. 17 . And the shanghai up by 0. 28 the dax is up, the cac in france is up by 0. 21 spain is up, but just barely look at crude oil snapped a fourday winning streak. It is still above 50s a b s a on the wall street agenda just one piece of economic data, september existing home sales out at 10 00 eastern time. Well watch that carefully after getting some week housing numbers lately fed chair janet yellen is the keynote speaker this evening at an event at National Economists club in washington ge, honeywell, Procter Gamble, suntrust reporting results before the open. Later today an exclusive interview with ges chairman and ceo, John Flannery 10 00 a. M. Eastern, squawk on the street. Just to give explain why
Note, the hang seng. The hang seng hitting the highest level since june of 2015 during that session. The picture of europe here, inflation data hit the tape moments ago. A mixed bag. Fractional losses in germany and france. Home depot just out with First Quarter results. Earnings of 1. 67 a share, coming in 5 cents above estimates. Global Comp Store Sales were up 5 , that beat the consensus of 4 . U. S. Comps were up 6 . Wae above e home depot raising the fullyear earnings forecast. Market reaction in the currencies from the Washington Post story. I to be honest with you, i didnt buy it because what were seeing across the board is that people are willing to take on a little bit of risk. Euros are turning to levels since before the french election, yen is coming off. We saw the chart. Its been a while that the dollar euro has been strong. You can do just about anything you want in the Financial News reporting, sort of and im sure we didnt make that up. Im sure the person that wrote that
Were still in rarefied air at these levels with the market well above where it was right after the election, and yet i keep hearing about the day of reckoning thats coming. Im not sure about that day. However, i have to tell you when i look at whats happening with individual companies, not the overall market, i see a game plan next week that most likely will face its roughest test even as i doubt it will produce enough grift for the bears to get the kind of selloff theyre praying for. What makes me so concerned about next week . Retail. Next week the retailers report, and i think well blanche when we see these numbers, especially given their stocks have had a bit of a run going into these quarters. Lets start with two retailers we hear from on Tuesday Morning, home depot and macys. Their stocks have been on different trajectories. Home depot is ameteoroloong the retailers in the world but this stock has had a pattern. It runs hard into the quarter. Then it reports fabulous results and