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[+6] u/gummi_eater: So damn tired of Amazon/MSFT performance.
[+11] u/elgrandorado: God that OpenAI leak for their financials is a disaster for the AI labs. Truly a wonderful set of money incineration machines.
[+10] u/gigaCHADjeromePOWELL: This new guy is no gigachad
[+9] u/Direct_Remove509: So the deal is Strait will reopen and be toll free for 60 days. Most likely after 60 days a toll will be imposed and Iran also gets $300B. Anything I missed?
[+9] u/UnObtainium17: We gotta retire JPows jersey and hang it on the rafters of the Fed.
[+8] u/InvestigatorPlus3229: Do not worry, boomers own the stocks and control the governments, they will never allow a real correction
[+8] u/Able_Show_8560: MSFT puts printing already. incredible. thought i bought at the lows lmaoooo
[+8] u/Dr-Bob1965: ASTS launch of blubird 8,9 and 10 successful, should get a boost to the sp.
[+8] u/urfaselol: we reached the peak. my mom just texted me she bought 10 shares of spcx at 209
[+7] u/atdharris: You have to find this funny. Trump melts down over Powell since taking office and his handpicked successor is doing the same thing Powell would have done.
[+7] u/TheAntiCPA: What in the world is going on with Microsoft? What a mess!
[+7] u/Sufficient_Habit5091: Fascinating presser.
The good:
* Seems more firm commitment to 2% and real recognition of failure of Fed to reach its target. Could be jawboning though and lip service but it feels a little more than Powell.
* Acknowledges correctly that outside of housing, there is zero evidence Fed is on a restrictive stance and if anything it is accommodative.
* Taskforces acknowledge what many have known for a while. Data collection needs a fresh look. Continually declining survey response rates have plagued many reports for a while now. How CPI is calculated IMO is broken in many, many ways and a genuine look at that could be healthy. Clearly Americans are NOT happy with inflation. Affordability will be destabilizing for our society and economy if we don't honestly address it.
* If taskforces are buying Warsh time to do what he promises, especially looking at the balance sheet, this is a healthy reexamination that should come with leadership change.
* Comment about financial markets echoing the Fed rather than the Fed responding to markets was 100% spot on. Markets today care **too much about what Fed thinks about the data** instead of reflecting fundamentals and data itself. This has to change for this country and economy to survive. Right now Fed is running the economy.
* Acknowledges that demand is high but supply is uncertain. He doesn't seemed biased to believe AI is a miracle that will immediately save us and it could take a long time to see supply benefits of all this CapEx.
The bad:
* As Nick Timiraos from WSJ pointed out in the presser, tightening seems appropriate if we look at failure of Fed to reach 2%. But no hike. Printer still on.
* "There's a taskforce for that" can be interpreted as a nonanswer punt to do nothing. While the talk is good, there's really no action at all.
* SEPL could be viewed as jawboning to tighten financial markets without hiking.
The ugly:
* 2% left of decimal point comment. That means 2.99% at its extreme is acceptable. Which is crazy. Not saying he means that but saying right of decimal point doesn't matter is a slippery slope to flexible inflation targeting.
* As Gundlach pointed out after on CNBC, a conspiracy angle could lead to these taskforces actually leading to "mission accomplished" and making inflation measures or measures of the economy less accurate and worse rather than better.
* FOMC keeps burying balance sheet actions deeper and deeper into obfuscation. The increasing lack of transparency is a very bad look. The way I interpret this https://www.newyorkfed.org/markets/reserve-management-reinvestment-purchases-faq, current language no longer puts a cap on how much Fed can print. Basically infinity.
* FOMC doesn't see reaching its target until after 2028. That's insanity.
[+6] u/Foreigntragedy: what the fuck microsoft
[+6] u/InvestigatorPlus3229: Holy shit fire this guy already
[+6] u/NotGucci: Retail Sales 0.9%, Exp. 0.6%
Retail Sales ex Auto 0.8%, Exp. 0.6%
Retail Sales Control Group 0.7%, Exp. 0.4%
Consumers still spending.
[+6] u/PhasedVenturer: MSFT is incapable of not being complete dogshit
[+5] u/TheJustinG2002: Microsoft, I’ve already averaged down. You can stop now, what the fuck 😭
[+5] u/jrex035: Trump: “If we didn't do this deal, we could have dropped more bombs for another three weeks, two weeks, four weeks, two years…You would never have the Hormuz Strait open…Your market would have, instead of going up…would go down at levels that nobody ever saw before, maybe except for 1929…
I did not want to see economic catastrophe"
Good thing to know that the difference between a 1929 level calamity and markets continuing at ATHs (and oil inexplicably at $78 a barrel) is just a few weeks.
[+5] u/UnObtainium17: man, my MSFT gains slowly evaporating like a Spurs lead against Knicks.
[+5] u/mislysbb: The avoidance on answering the yields question isn’t going over well
[+5] u/rpv123: Legitimately stoked that for the first time in what feels like months, my 401k contribution will go in during a red day.
[+5] u/Neader: Sold off a third of my MSFT that I've been holding for a decade for SOXX
[+5] u/aspenextreme03: looks like i can get some stocks on a discount now