To The Moon

News and my thoughts from the last week (25 Dec 2023) Image $SPX is expected to report Y/Y earnings growth of 2.4% for Q4 2023, which is below the estimate of 8.1% earnings growth on September 30. - FactSet Image 72 $SPX companies have issued negative EPS guidance for Q4 2023, which is above the 5-year average of 57 and above the 10-year average of 62. indicators like negative temporary employment growth and negative trucking industry job growth point to a recession. - Business Insider FedEx shares fell close to 10% after the global delivery firm cut its outlook for the year as its largest Express business saw the demand drop from the US Postal Service - Reuters Supply chain can be seen as a lagging indicator. Let's be watchful. The market can be bullish but the fundamentals are of concern. More than 100 container ships have been rerouted around southern Africa to avoid the Suez canal, in a sign of the disruption to global trade caused by Houthi rebels attacking vessels on the western coast of Yemen. - The Guardian The Iranian-backed group is using drones to attack vessels that they believe are delivering goods to Israel, forcing shipping companies cancel routes passing through the Red Sea. This should add costs and delay. - Visual Capitalist *UBS ANALYSTS SEE S&P 500 FALLING TO 4100 IN THE FIRST HALF OF 2024, CALLING CURRENT RALLY A 'BULL TRAP' - Investing @TigerStars $S&P 500(.SPX)$ $FedEx(FDX)$