DHUnplugged #769: Sideline Ca$h
Cash on the sidelines.... (that thesis is coming back)
ATH - Fed cut, AI earnings, buybacks... (Sentiment)
Most hated stocks - more hate
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Warm-Up
- AI - the promise and the theft
- Need a new CTP stock!
- Most hated stocks - more hate
- Football Season !!!!!!!!!
Markets
- ATH - Fed cut, AI earnings, buybacks... (Sentiment)
- NVDA under China's microscope
- Cash on the sidelines.... (that reason coming back)
- StubHub IPO coming (thieves, but make $ for company)
Once again
- House to put forth stopgap bill that would fund government through November 21; vote expected Friday
CPI and Jobs
- The consumer price index posted a seasonally adjusted 0.4% increase for the month, the biggest gain since January, putting the annual inflation rate at 2.9%.
---For the vital core reading that excludes food and energy, the August gain was 0.3%, putting the 12-month figure at 3.1%, both as forecast. Fed officials consider core to be a better gauge of long-run trends. The central bank’s inflation target is 2%.
- The Labor Department reported a surprise increase in weekly unemployment compensation filings to a seasonally adjusted 263,000, the highest since October 2021.
- The reports provide the final pieces of a complicated data puzzle that central bankers will review at their two-day policy meeting that concludes Sept. 17.
Retail Sales
- Can't count out the US Consumer - THEY CONSUME
- Retail sales increase 0.6% in August, beating expectations
- Core retail sales rise 0.7%; July gain unrevised at 0.5%
- Higher prices account for some of the rise in sales, but consumers also showing resilience
- Import prices increase 0.3% amid strong gains in capital, consumer goods
Fed Day
- Odds are 100% for 0.25 cut and 3.9% for a 0.50% cut
- Lots of talk about 3 cuts for 2025 (Sept, Oct, December)
- Gold hitting new highs, silver up there (Schiff on TDI Podcast this week)
- Cook not allowed to be fired
Google
- Welcome to the TRILLION dollar market cap club
- Even with the concern over AI eating up search - stock is ATH after the recent court ruling
-- Probably also due to free input for their LLMs
- The owner of Rolling Stone, Billboard and Variety sued Google on Friday, alleging the technology giant's AI summaries use its journalism without consent and reduce traffic to its websites.
- The lawsuit by Penske Media in federal court in Washington, D.C., marks the first time a major U.S. publisher has taken Alphabet-owned Google to court over the AI-generated summaries that now appear on top of its search results.
- News organizations have for months said the new features, including Google's "AI Overviews," siphon traffic away from their sites, eroding advertising and subscription revenue.
- Penske, a family-owned media conglomerate led by Jay Penske and whose content attracts 120 million online visitors a month, said Google only includes publishers' websites in its search results if it can also use their articles in AI summaries.
- Without the leverage, Google would have to pay publishers for the right to republish their work or use it to train its AI systems, the company said in the lawsuit. I
NVDA
- China says Nvidia violated anti-monopoly law after preliminary probe
- China’s market regulator on Monday said that Nvidia violated the country’s anti-monopoly law, according to a preliminary probe, adding that Beijing would continue its investigation into the U.S. chip giant.
- Surely if USA allows access to the H20 chip that this will go away....
Tesla Shares
- First, company is not doing well - as a company - but stock is performing
New Zealand