News and my thoughts from the last week (06May24) - Tesla, jobs & consumer pullback
News and my thoughts from the last week (06May24)
From X user Investingcom:
BREAKING: *U.S. APRIL NONFARM PAYROLLS RISE BY 175,000; EST. 238,000; PREV. 315,000
From X user: Wall Street Silver
This is to destroy small time investors and small business.It doesn't make any sense
From X user The Kobeissi Letter
This is incredible: The US economy LOST 192,000 jobs in Q3 2023, according to the BED report released by the BLS last week. BED data tracks quarterly changes in employment at all private businesses in the US economy. Meanwhile, US nonfarm payrolls data showed that the US labor market added 494,000 new jobs in Q3 2023. This is a WHOPPING 686,000 difference in job count over just one quarter. The BED data from the BLS suggests that the final labor market revisions released in 2025 will be MUCH lower than the headline-reported job numbers.
Specifically, the Tesla CEO discussed the increasing national debt that could have the US economy headed toward an impending crisis.
Consulting firm Klaros Group analyzed about 4,000 U.S. banks and found 282 banks face the dual threat of commercial real estate loans and potential losses tied to higher interest rates. - CNBC
The federal debt balance is at a record high of $34.5 trillion. Ballooning debt levels could spark various problems for the economy, including higher inflation, greater market volatility, and a lower quality of life for Americans. - Business Insider
Executives at some of America's largest companies have said that consumers feel the pinch of higher prices. Their remarks come as sticky inflation poses a challenge for Main Street, Wall Street and the Federal Reserve. - CNBC
Long-predicted consumer pullback finally hits restaurants like Starbucks, KFC and McDonald's - CNBC
When fast food is out of reach for more, the problem is getting much worse.
The policy rate remains in the 5.25%-5.50% range. Fed policymakers are concerned by recent inflation data. - Reuters
“So far this year, the data have not given us that greater confidence. In particular, readings on inflation have come in above expectations,” Powell said, adding that it might “take longer than previously expected” for Fed officials to cut rates. - CNN
PetroChina reported on Monday its highest net profit for a first quarter as its revenues rose by 11% thanks to steady oil prices and higher domestic natural gas demand and production. - Oil Price
Are jobs meaningless if life remains unaffordable?
The first container ship arrived at the Port of Baltimore a month after the cargo ship Dali lost power and rammed a support column of the Francis Scott Key Bridge - CA News
The owner & operators of the container ship that toppled the Francis Scott Key Bridge in Baltimore last month knowingly allowed an “unseaworthy” vessel to leave port & are directly responsible for the accident, the city of Baltimore said. - USA Today
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
