china
In his podcast addressing the markets today, Louis Navellier offered the following commentary. Due to strong consumer spending, U.S. GDP growth appears to be accelerating in the third quarter. The Commerce Department on Tuesday announced that retail sales rose 0.7% in July, which was substantially higher than analyst expectations of a 0.4% increase. This was the fourth straight month that retail sales have risen and the pace of consumer spending continues to accelerate. Online sales surged 1.9% in July and was led by Amazon’s Prime Day. Spending at bars and restaurants rose 1.4%, which is a cl...
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In his podcast addressing the markets today, Louis Navellier offered the following commentary. It is very dangerous for me to venture into U.S. politics, but I think the next President will be the person that calls for diverting Biden Administration’s proposed next installment of $20 billion in aid to Ukraine to Maui to rebuild after the devastating fires in Lahaina. The news that Ukraine’s regional army chiefs were buying villas and luxury cars in Spain means that some of the aid to Ukraine may have been diverted. President Volodymyr Zelensky recently fired Ukraine’s regional military recruit...
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China was recently in the throes of a pandemic-related economic malaise, and that, in effect, could put pressure on industrial metals as demand weakens. Until the economy can get back on track, industrial metals will face pressure. “We believe metals will stay under pressure in the second half of the year as the sluggish recovery in China will likely continue to weigh on demand, with most industrial metals remaining dependent on economic stimulus from the world’s biggest consumer of metals,” the report said. “However, if China introduces stimulus measures, in particular for the property sector...
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In his podcast addressing the markets today, Louis Navellier offered the following commentary. Labor PainsThe core CPI has risen an at annualized rate of 3.1% in the past three months, which is the slowest pace since March 2021, so consumer inflation is still moderating and will move significantly lower as soon as owners’ equivalent rent and shelter costs cool off in the upcoming months. The Labor Department announced on Thursday that the Consumer Price Index (CPI) rose 0.2% in July and 3.2% in the past 12 months. The core CPI, excluding food and energy, rose 0.2% in July and 4.7% in the past ...
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In his podcast addressing the markets today, Louis Navellier offered the following commentary. Scrutinizing Bid-To-CoverThe U.S. Treasury is auctioning $1.03 trillion in Treasuries securities this week, so the “bid-to-cover” ratios will be closely scrutinized. A bid-to-cover ratio below 2.2 is problematic since it typically causes interest rates to rise. On the other hand, a bid-to-cover ratio above 2.4 is great, since interest rates are stable. However, during the last big Treasury auction several weeks ago, the 20-year Treasury bond had an impressive bid-to-cover ratio of 2.87 to 1, so inter...
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In his podcast addressing the markets today, Louis Navellier offered the following commentary. A Lot More Doves Than HawksThe Fed should signal in its FOMC statement on Wednesday that it is effectively done raising key interest rates as inflation cools and Treasury bond yields settle down. There’s a great article in Bloomberg today scoring all the voting members of the Fed from hawks to centrist to doves. According to Bloomberg, there are a lot more doves and centrists than hawks. So there is a growing chance that we will not have a rate hike tomorrow. And even if we do have a rate hike tomorr...
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In his podcast addressing the markets today, Louis Navellier offered the following commentary. In the wake of the disappointing June ISM manufacturing report, in my opinion, it would be very unwise for the Federal Open Market Committee (FOMC) to hike key interest rates at its July FOMC meeting. However, on Wednesday, the FOMC minutes from the June meeting were released and revealed that “Some participants indicated that they favored raising the target range for the federal funds rate 25 basis points at this meeting or that they could have supported such a proposal.” The key word is “some,” whi...
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In his podcast addressing the markets today, Louis Navellier offered the following commentary. China Teetering On RecessionOn Friday, China’s National Bureau of Statistics announced that the official PMI for June rose slightly to 49 in June, up from 48.8 in May. Since any reading under 50 signals a contraction, China’s manufacturing sector is in a recession. One big alarm is that the new export orders component declined to a 5-month low of 46.4 in June. The service sector PMI for June declined to 52.8, down from 53.8 in May. Finally, home sales for the top 100 Chinese property developers decli...
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In his podcast addressing the markets today, Louis Navellier offered the following commentary. Upward GDP RevisionsThe Atlanta Fed is estimating second-quarter GDP growth at a 1.8% annual pace. However, in the wake of this week’s stronger-than-expected economic news, I am expecting upward GDP revisions. Another factor that will cause many economists to revise their second-quarter GDP growth higher is the fact that the Commerce Department announced on Wednesday that the trade deficit in May declined 6.1% to $91.1 billion as imports dropped 2.7% to $254 billion and exports declined 0.6% to $162....
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Meanwhile, the Greater China market continues to face some challenges, given the soft economic data in April and May. While we view that the country’s economic recovery remains intact longer-term, it requires some policy support to regain momentum. China/Greater China EquitiesThe market now expects the Fed to pause its rate hikes in the June FOMC meeting due to the rising unemployment rate and moderating average hourly earnings in the US. Investor sentiment toward the US equities market was also boosted by Nvidia (NASDAQ:NVDA)’s “overwhelming” guidance, increasing investor confidence in the de...
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