It appears that the bear market rally is nearing its end…

https://twitter.com/WifeyAlpha/status/1557651423998910464

From the WSJ….

Feels like the bear market rally is coming to an end. 🙃 pic.twitter.com/DvZ5dK4Xmw

— Ayesha Tariq, CFA (@AyeshaTariq) August 11, 2022

https://twitter.com/MFHoz/status/1557271184026247168

Microsoft, $MSFT, is cutting hundreds of contractors amid layoffs and a hiring freeze, per BI.

— unusual_whales (@unusual_whales) August 11, 2022

Biggest monthly drop in intermediate PPI since Lehman pic.twitter.com/1i3rGHl9P4

— zerohedge (@zerohedge) August 11, 2022

https://twitter.com/conorsen/status/1557678378811015168

The #sp500 of 2008 vs. $spx of today, what next? pic.twitter.com/EhJOUBVWm9

— Michael J. Kramer (@MichaelMOTTCM) August 10, 2022

Gap between consumer, employment and stock market is historically misaligned. pic.twitter.com/RYGunRmu9e

— Ilia Sakowski (@IliaSakowski) August 11, 2022

https://twitter.com/keyeventrisk/status/1557633111365648385

M2 Money Growth Cools and Recession Probability Increases

While lower than June’s reading of 11.3% YoY, it also coincides with declining gasoline prices and declining growth in M2 Money stock. Which is still growing at 5.9% YoY. The probability of recession is rising (even though technically the US is in recession after 2 consecutive quarters of negative GDP growth.

Initial Jobless Claims Surge To Highest Since November

The number of Americans filing for jobless benefits for the first time last week was 262k, notably higher than the 248k the prior week. That is the highest since Nov26 2021.

Searches For ‘Sell My House’ Hits Its Highest Point In U.S. Internet History

Analysis of Google search data reveals that searches for ‘sell my house’ exploded 147% in the United States as of July 2022 – the highest level in internet history for America. This comes as Americans face rising property and rent costs, with fears of a recession looming.