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In today’s Recap, Marcello talks about how suspicious it is that hundreds of food processing plants are closed due to unlikely situations, such as plane crashes; Mark Zuckerberg has said in an employee Q&A session that “this might be one of the worst downturns that we’ve seen in recent history.”
The Atlanta Federal Reserve Bank’s U.S. GDP measure, which tracks economic data in real time, but adjusts continuously, sees Quarter 2 output contracting by a full -1%. Coupled with Quarter 1’s decline of -1.6%, it fits the technical definition of an economic recession.
Copper prices fell to a 17-month low this week; Russia has defaulted on foreign-currency sovereign debt for the 1st time since 1918.
The post July 3: 100 Food Processing Plants Closed, Mark Zuckerberg Recession, “Worst in Recent History” (Recap ep182) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, the US markets and a big part of the international markets recovered gains, with strong news that will affect the next few weeks, specifically more aggressive Fed interest hikes. Also, the Fed says servers will be online by 2023 for the new “Government Coin,” a digital version of the dollar: “Rapid changes are taking place in the global monetary system that may affect the international role of the dollar.” A US central bank digital currency is being examined to “help the US dollar’s international standing”.Dogecoin jumped +10%, while Bitcoin lost 50% of its value in 2 weeks.
The National Association of Realtors said Tuesday US existing home sales fell for the 4th consecutive month, dropping-3.4% in May. May’s existing sales were down -8.6% on an annual basis. This brings existing home sales in the United States back to 2019 levels, despite the fact that prices have risen to a record high, surpassing the $400K mark for the first time as mortgage rates have risen further.remains fairly hot, with properties staying on the market for a record low of 16 days.
The Russian govt. summons the EU’s ambassador in Moscow, angry over a rail blockade that halted shipments of many basic goods. The Russian enclave on the Baltic Sea known as Kaliningrad (the former German territory of Konigsberg) Russia warned Lithuania of serious consequences after it banned the rail transfer of some goods. The EU sanctions list includes coal, metals, construction materials and technology. Russia claims the ban will cover 50% of the items that Kaliningrad imports.
China’s shipments of cars rebounded in May; South Korea’s 2nd test launch of its domestically produced Nuri rocket successfully placed a satellite in orbit; Over 100 million people in the United States are under heat warnings and are advised to stay indoors; rainfall in some areas of southern China is the heaviest in 60 years; the Colombian army releases images of one of the world’s most valuable shipwrecks; and Sri Lanka gives government workers Fridays off to farm in order to alleviate a food shortage. Russia has surpassed Saudi Arabia as China’s largest oil supplier. Macron has an absolute majority in France; Petro is the new elected president of Colombia.
The post June 26: Digital dolar 2023? Russia World War, Markets Recover (Recap Ep181) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s Recap, Marcello talks about the widespread collapse of the markets around the globe; Inflation is reaching a new high; we might be facing the start of a recession.
World stock markets had the biggest weekly decline since a pandemic-induced meltdown in March 2020, hit by growing worries about an economic recession after interest rate increases in the United States & the U.K. which was followed by a surprise move at Switzerland’s central bank, to quell an inflation surge.
The Bank of England raised interest rates again, for the 5th time since December; Coinbase Global will be laying off 18% of its workforce; Crypto lending firm Celsius pauses withdrawals and transfers; German inflation accelerated to a 5-decade high of +7.9% year on year in May.
The post June 18: Everything Colapses, Inflation Increases, Recession Starts? (Recap ep180) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s Recap, Marcello talks about how the German supermarket chain Rewe has warned customers can take only 1 “critical” product – such as pasta and flour; Consumer spending in the U.S. is the “worst in history,” which shows a clear sign of how inflation has affected the economy; Ethereum fell and is headed toward its lowest levels since May 12.
Inflation in the U.S. surged from a year ago. Groceries up +11.9%, chicken up +17.4%, restaurants up +9%, fuel up +107%. These are the largest year on year price hikes ever in the U.S. Moody’s Analytics claim that inflation is costing the average American an extra $460.00 per month. That is $5,520.00 more per year.
Tesla just filed its annual proxy statement with the U.S. SEC & revealed it plans a 3-for-1 stock split; Ukrainian officials were pleading for more aid from the West; The Bank of England looks set to raise interest rates next week for the 5th time since December; According to the U.S. Mortgage Bankers Association mortgage applications fell -6.5% from one week earlier in the week ending June 3.
The post June 12: Food Rationing Begins, Consumer “Worst In History”, Ethereum Collapse? (Recap ep179) appeared first on Investing & Day Trading Education: Day Trading Academy.
In the week’s recap, the US and global markets were mostly lower, except for the Asian markets. It’s increasing the likelihood of stagflation because the latest reports indicate the US labor market added jobs at a slower pace in May, but the inflation stays elevated.
Elon Musk To Slash 10% Tesla Jobs, Has “Super Bad Feeling” About Economy. Everyone at Tesla is required to spend a minimum of 40 hours in the office per week: “If you don’t show up, we will assume you have resigned”. Also, Musk tweeted: “Recessions serve a vital economic cleansing function”.
Terra launched a new V failed luna crypto and plunged to $0 earlier this month. Solana Colapso bug in the tech collapses lasted 4 hours. Bitcoin ended higher this week: Up +3.15%. There are 8 billion people in the world and 10 billion nfts.
Two-thirds of the US face the prospect of blackouts this summer, a report by the North American Electric Reliability Corporations; Food shortages & soaring prices become major concern govts globally; China making sure summer wheat harvest proceeds without any problems; Oil posts 6th monthly advance, longest run since 2011; Euro-zone inflation record high for 7 consecutive months:+8.1% May; JPMorgan Chase CEO Jamie Dimon says preparing biggest US bank for an economic hurricane on the horizon and advised investors to do the same.
The post June 5: Elon Musk says economic collapse coming, 2/3rds US in blackouts, Solana crashes (Recap Ep178) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s Recap, Marcello talks about the collapse of the housing market in the US due to the increase in prices of newly built homes; Swift has now allowed international payments using central bank-issued cryptocurrencies; and Malaysia and India are banning the export of chicken and sugar, respectively.
A poll conducted by Vistage Worldwide Inc, had 57% of small businesses in the U.S. predict the domestic economy will get worse over next year, as the nation deals w/high inflation, supply-chain & labor shortages as well as rising interest rates. It matches the April 2020 mark for lowest level of confidence. Last month, 42% of small business owners had the same grim outlook on the economy. It is part of a broader confidence index that, in May, revealed its largest y/y drop since the COVID-19 lockdown from the spring of 2020
Heavy rains have caused widespread flooding in parts of Bangladesh & India; Consumer spending, which accounts for over two-thirds of U.S. economic activity, increased +0.9% last month; the Bank of Canada sold all of its gold reserves; Hong Kong residents are leaving the city in far greater numbers in 2022.
The post May 29: Housing Market Collapses, Government Test Cryptos, Food Export Restrictions Begin (Recap ep177) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s Recap, Marcello talks about some data that shows that we are facing a drop in stocks very similar to the one the market suffered in the Great Depression; an unprecedented outbreak of Monkey Pox is triggering alerts worldwide.
China’s President Xi (since 2013) will attempt an unprecedented 3rd term this fall, as he plans to extend his rule as China’s most powerful leader since Mao Zedong. Xi’s bold domestic & foreign policies remain controversial. His strict zero-COVID-19 strategy, his staunch support for Russia & a recent crackdown on tech giants have broad popular support, but the resulting economic price has sparked intense debate among Chinese analysts, stakeholders & the public at large.
Australia’s unemployment rate is the lowest since 1974; China is now seeking to replenish its strategic crude stockpiles with cheap Russian oil; The number of Americans filing new claims for unemployment benefits unexpectedly rose last week.
The post May 22: Worst Drop in Stocks since Great Depression, Mew Monkey Pox Pandemic (Recap ep176) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s Recap, Marcello talks about the aftermath of the collapse in prices of the Crypto Luna; There is a Baby formula shortage in the U.S.; Switzerland is preparing in case of nuclear attacks.
U.S. consumer sentiment slumped to its lowest level in nearly 11 years in early May it was reported this week, as worries about inflation persisted, but household spending remains underpinned by a strong labor market & massive savings, which may well keep the economy expanding for the short term.
Tesla has suspended most production at its Shanghai factory; U.S. inflation cooled off slightly in April; Ferdinand Marcos Jr is the new president of the Philippines; India banned wheat exports; Oil giant Saudi Aramco surpassed Apple as the world’s most valuable firm.
The post May 15: Crypto Luna Massacre, Baby Formula Shortage, Switzerland prepared Nuclear War (Recap ep175) appeared first on Investing & Day Trading Education: Day Trading Academy.
In today’s Recap, Marcello talks about how most markets around the globe fell; Gucci is accepting cryptocurrencies as payment method; Elon Musk gave a hint to the new world order at the MET gala.
U.S. Federal Reserve raised interest rates by +0.50% in the biggest single-meeting increase in 20 years. Although the Fed Chair Powell said that additional half-point rate increases will be on the table at the next couple of meetings, he added that Fed officials aren’t actively considering a 75-basis-point increase. As a result, short-dated U.S. Treasuries rallied, sending the 2-yr Treasury yield sharply lower. It fell 15 basis points to 2.61% in the biggest 1 day drop since late Feb. The 10-yr yield fell, down 4 basis points to 2.9%.
Shares of Netflix jumped +4.78%; 1-way superconductivity without magnetic fields was discovered; Spain’s Prime Minister was the target of a spyware attack
The post May 8: Everything Collapses, Gucci Accept Crypto, Elon Musk mentions New World Order (Recap ep174) appeared first on Investing & Day Trading Education: Day Trading Academy.
In today’s Recap, Marcello talks about a way of payment using an implant placed inside your hand; Bitcoin is now legal tender in the Central African Republic; More analysts are predicting a food shortage in 2023.
The Central African Republic adopted Bitcoin as its official currency, thus following El Salvador’s as the 2nd country to do so. Bitcoin was made legal tender after lawmakers voted unanimously to pass the bill legalizing the world’s largest cryptocurrency & other cryptos, according to the chief of staff of President Faustin-Archange Touadera. Bitcoin can now be used alongside the regional Central African CFA franc, a currency governed by the Bank of Central African States (BEAC) used by 5 other nations.
Elon Musk sold around $4B worth of Tesla; Eurozone inflation has hit a new record high; Russia’s gas is halted until agreement of payment in rubles; The world’s oldest person has died in Japan at the age 119.
The post May 1: Mark of the Beast has Arrived, Bitcoin Legalized in 2nd Country, Food Shortages Affected Extreme Flooding (Recap ep173) appeared first on Investing & Day Trading Education: Day Trading Academy.
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