The Morning Market Briefing

Tom, Andrew, and Moe discuss the biggest takeaways from the newly followed “SLOOS Report”, what this could mean for the economy moving forward (specifically for real estate development and private equity), as well as earnings reports from BWXT and PayPal, and data showing slower growth in China. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalc...

Moe and Tom discuss Friday’s strong market rally, the continuing struggles of regional banks, Apple’s bond issuance, Berkshire Hathaway’s annual shareholder meeting recap, the debt ceiling debate, and CPI/PPI coming out this week. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-market-briefings Please see disclosures: htt...

Tom and Andrew react to strong jobs data, positive results from Apple, and the continued struggle of regional banks. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-market-briefings Please see disclosures: https://www.narwhalcapital.com/disclosure

Tom and Moe boycott Star Wars Day and jump into the analysis of the Fed’s decision and rhetoric from the announcement yesterday afternoon. What started as a neutral announcement quickly turned hawkish as Chairman Powell fielded questions. What does this announcement mean for the terminal rate and how will the economy and the market respond? For information on how to join the Zoom calls live each m...

Ben, Andrew, and Tom discuss the continued difficulty within the banking system, earnings reports out of AMD, F, and SBUX, some favorable data coming out of Eli Lilly in regard to their new Alzheimer’s drug, some economic data, and the looming Fed decision. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-market-briefings...

Andrew and Tom discuss ISM Manufacturing numbers as they have stabilized in spite of the economic uncertainty. JOLTS report later today, as well as a FED meeting upcoming tomorrow. The FDIC weighs a new program to raise deposit insurance for payroll and business payments. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-ma...

Ben and Tom discuss First Repulic Bank going into FDIC receivership. JPMorgan assumes assests, as FRC is the biggest US bank failure since 2008. Charlie Munger comments that banks are no where near the same debacle as 2008, with the primary issue currently being a result of business mistakes rather than economic crisis. Commercial real estate is on its way downward. For information on how to join...

Ben and Tom have a special guest, Molly Russell join the call. GDP results show a large growth in personal consumption (the largest growth since Q2 of 2021), and there was also a large bump in government spending. Private investment took a huge hit with a decline of 12.5% in Q1 of this year. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapit...

GDP comes in lower than anticipated showing the overall economy continues to slow, LLY, CAT, and NOC report quality earnings for the quarter, with some other big players waiting to report this evening, and the reaction of the bond market on the heels of this GDP data. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-market...

Discussion around First Republic continues as the bank is running out of time and options, and earnings reports from some of the largest companies in the US begin to roll in, including Google, Microsoft, Texas Instruments, and Visa For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-market-briefings Please see disclosures: ht...

Discussion centers around the report out of First Republic Bank and the implications of that data for the rest of the banking system. A number of other companies reported earnings including some consumer facing brands like Pepsi and GM, as well as some names in energy. What do these reports say about the state of the consumer? Will energy continue to march higher? For information on how to join th...

Ben and Tom discuss the news of Bed Bath and Beyond’s bankruptcy, the downgrade of a number of small banks by Moody’s, Tesla’s decision to raise their capital spending forecast, steady earnings out of Coca-Cola, and a massive lineup of earnings over the rest of the week. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-mar...

Ben, Andrew, and Tom discuss the current state of the Eurozone, as inflation continues to create issues in several places outside of the US. PG reports growth across the past quarter, RF grows as well, HCA in the positive, and SLB coming in down a single percentage point. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-ma...

Ben, Mo, and Tom discuss the 3-month T-Bill hitting a 22-year high. More earnings are discussed with the auto industry functioning fine - aside from a poor reading on Tesla. The housing market seems to have somewhat stabilized, with smaller, cheaper new housing being built. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-...

Ben, Mo, and Tom discuss bank financials, as the banking world continues to be somewhat tumultuous. The UK CPI numbers surprise the world, for the positive, as inflation begins to fall. Bullard calls for future rate hikes to continue in order to combat inflation further. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-mar...

Ben, Andrew, and Tom discuss JB Hunt declaring that we are in a "frieght recession." Bank of America has a solid performance across the board so far this year, while Goldman Sachs has been struggling in comparison. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-market-briefings Please see disclosures: https://www.narwhal...

Ben and Tom discuss Samsung's big shift from using Google as their cell search engines to now using Bing. Schwab notes a 30% decrease in deposits this past month. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-market-briefings Please see disclosures: https://www.narwhalcapital.com/disclosure

Ben and Tom discuss the positive earnings results out of a number of large banks, UNH’s solid quarter, weak retail sales data, and how all this information will impact the Fed’s next rate decision. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-market-briefings Please see disclosures: https://www.narwhalcapital.com/discl...

Ben discusses Narwhal's Macropresentation for Q1 of 2023. The tide appears to be ebbing as the economy starts to show signs of large-scale slowing. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-market-briefings Please see disclosures: https://www.narwhalcapital.com/disclosure

Ben, Tom, and Andrew discuss the initial Jobless Claim information, as it appears that the economy is starting to slow. Oil cuts are expected to cause a supply shortfall, and Delta is the frontrunner of showing a poor Q1 for airlines. The FED signals that an impending recession is on the way for 2023. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.na...

Ben, Tom, and Andrew discuss March's CPI numbers. As the CPI numbers continue to cool, it appears that inflation could be slowing a bit due to rate hikes (and other factors). Warren Buffet comments on bank failures and Powell's "terrific" work. Bank of America shows the slowest pace of credit and debit card spending since Feb 2021. For information on how to join the Zoom calls live each morning at...

Ben and Tom discuss the results of the small business optimism survey, the continued tension in Taiwan, a possible push to displace the US Dollar as the world’s reserve currency, a new passenger jet being manufactured in China, a pleasant earnings surprise from CarMax, and the concerns regarding the debt of Tupperware. For information on how to join the Zoom calls live each morning at 8:30 EST, vi...

Ben and Tom discuss the microchip cycle as Samsung is first to announce a reduction in chip production. This comes in light of a massive shortage taking place during/following COVID and WFH ramping up the need, so this is a likely indicator of what's to come in the tech space (at least from a consumer standpoint). Since March, the short exposure on the S&P has been slowly increasing, and it's...

Ben and Tom continue their discussion of new economic data and slowing growth in the services sector, softening of consumer spending, Costco earnings and the path of interest rates going forward. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-market-briefings Please see disclosures: https://www.narwhalcapital.com/disclos...

This morning, Ben, Tom and Moe discuss slowing economic data with the February JOLTS report, ADP report, ISM manufacturing report and ISM services report. The guys additionally touch on the market implications for the weak data and the Johnson & Johnson talc settlement. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-...