Has the rally peaked… We'll find out. pic.twitter.com/btrSrgx3im
— Financelot (@FinanceLancelot) July 31, 2022
The recent rally was fueled purely by hope, not by data showing monetary stimulus or an economic rebound or evidence of zero-COVID being dialed back or regulatory easing. There was no China bull case and it’s plainly obvious now. t.co/ouphaHVLl7
— Shehzad Qazi (@shehzadhqazi) August 1, 2022
ISM prices index drop to 60 from 78.5
This is BIG news as it leads the CPI by 4 months pic.twitter.com/R3ndDxGTk5
— AndreasStenoLarsen (@AndreasSteno) August 1, 2022
🇺🇸 *US JULY ISM FACTORY GAUGE FALLS TO 52.8 FROM 53; EST. 52
*US ISM MANUFACTURING INDEX DROPS TO LOWEST SINCE JUNE 2020
*US ISM FACTORY INVENTORIES INDEX RISES TO HIGHEST SINCE 1984
*US ISM MANUFACTURING PRICES-PAID INDEX FALLS MOST SINCE 2010— Christophe Barraud🛢🐳 (@C_Barraud) August 1, 2022
China PMI came in lower than expected below 50. Came in at 49 while est was 50.3. Not a great sign 👇 pic.twitter.com/0PZpgj4azS
— Gianluca (@MenthorQpro) August 1, 2022
The market thinks the FED’s hawkishness has peaked so financial conditions have loosened
Translated: traders have bought corporate bonds
Good with luck with that pic.twitter.com/5qunRg2Ubj
— 🅰🅻🅴🆂🆂🅸🅾 (@AlessioUrban) July 31, 2022
Hello Recession Deniers, It's Already Time to Ponder a Third Quarter of Negative GDPt.co/jtbUoIRVm5
— Mike "Mish" Shedlock (@MishGEA) August 1, 2022
Former Oil Exec Warns Recession Comes Alongside Energy Crises: ‘Gas Will Exceed $5 Again’ Soon
Economic output already fell over the first three months of the year, with GDP tumbling 1.6%, the worst performance since the spring of 2020, when the economy was still deep in the throes of the COVID-induced recession.
Recent Economic Data Have Been the Fed’s ‘Worst Nightmare,’ Economist Says
The economy is looking pretty dreadful, and that won’t make the Federal Reserve’s job any easier as it tries to engineer a soft economic landing, one top Wall Street economist warns.
Soaring Inflation Drives More Americans To Live Paycheck to Paycheck Despite 5.1% Increase in Wages
Increased wages can’t catch up to soaring prices of consumer goods, prompting Americans to live paycheck to paycheck.
Amazon Cuts 100,000 Employees From Workforce In A Single Quarter
The more employees lose their jobs, the more healthy the company appears to be when shareholders examine quarterly earnings; it is inevitable that layoffs will continue. There have been over 30,000 job cuts by tech companies in the US in the past few months alone, and unemployment claims have climbed to 8-month highs.
h/t odsogv123