The Morning Market Briefing

Ben and Tom talk about the ISM services economic data update, the JOLTS report, the BLS employment report, COST's slightly disappointing monthly sales results, Samsung's completely disappointing preliminary Q2 results, the FDA approving Leqembi for Alzheimer's, and the impact of higher interest rates. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.na...

Ben, Tom, and Moe discuss META's new Twitter rival Threads, Yellen's trip to China, and the Fed Minutes. 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

Andrew reports on various bad news as the Wall Street Journal predicts a potential crisis in the debt market if a large wave of restructuring is to happen, hospitals struggle post-COVID, the UPS/Teamsters deal loses its footing and UPS walks away from the bargaining table, and ISM reports that its manufacturing results are indicative of recessionary levels. For information on how to join the Zoom...

Ben, Tom, and Moe go over Goldman Sachs abandonding its consumer-lending banking strategy, Apple struggling to assemble its new VR headsets, and student loan forgiveness being denied. 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, Andrew, and Tom discuss Nike's slightly disappointing earnings report, European inflation, an important SCOTUS student loan forgiveness decision, and the end of the quarter scorecard. 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, Andrew, and Tom chat about Micron's disappointing quarter, Bidenomics, the bank stress test, and Lisa Khan's hunt for Amazon. 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 go over news of the US planning more AI chip hurdles for China, UPS's labor dispute, and the upcoming Bank Stress Test. 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 Moe speak to Eli Lilly's positive weight-loss results, Walgreens cutting guidance, Delta expecting high end of range profit, and a C-Suite shift at Amex. 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 confer on the Wagner Mutiny in Russia, China's continuously weakning economy, President Biden's upcoming speech in Chicago that will lay out his economic plan, Eli Lilly's presentation on Mounjaro, IBM's odd acquisition, Tesla's downgrade, and earnings in the week ahead. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/bl...

Ben, Tom, and Moe go over the news of President Biden's meeting with Indian Prime Minister Modi, a slowdown in the Eurozone, and 3M reaching a settlement over their contamination of water systems. 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/disclo...

Ben and Tom converse regarding the Bank of England's rate hike, the potential impact of student loan forgiveness on the South, the KB Home report's implications on market dynamics, the FTC's Amazon complaint, and the UAW gearing up for strikes. 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 di...

Ben, Tom, and Andrew discuss Fedex's 4FQ23 Earnings, Bank of England's troubles as their CPI comes out hot, and a few upgrades and degrades. 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 Moe recap the RTX investor day, China news, and speculate as to the FEDEX earnings at market close. 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 shares his thoughts on Christine McCarthy - CFO of Disney - taking a "family medical leave", CAVA's huge IPO, and China's stimulus plan. 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 discuss the Fed skipping the rate hike, the ECB meeting, new economic data, Lennar - the mass market homebuilder - witnessing a nice pickup in sales, and the tentative agreement with the Unions at the west coast ports. 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...

Ben, Tom, and Moe muse about the Microsoft and Activision Deal, US Mortgage Application Increases, and an Anti-Trust Assault on GOOGL. 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 Moe discuss the CPI report coming out today, China lowering their short-term lending rate, the recent Bank of America Manager Survey, and Oracle's earnings. 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 mull over the Fed meeting this week, ORCL and ADBE earnings, and how we frame portfolios in the context of the Macro. 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, Andrew, and Moe talk about former President Trump's indictment, BioGen and its Alzheimer drug, China and Cuba, and Adobe hopping on the AI hype train. 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

In the last episode of this week's special series, Ben explains what it means to be a reserve currency: the benefits, the history, and the contemporary backdrop. 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

In the third installment of this week's special series, Ben and Andrew lay out NCM's proposed theoretical solution to current macroeconomic troubles. 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

In the second installation of the special series, Ben walks through Balance: The Federal Budget, the Balance Sheet, Reserve Currency Status, and more. 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

In the first episode of this week's special series, Ben and Andrew present on the history of debt, inflation, and interest rates and what that history implies for contemporary market conditions. 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/disclosu...

Ben, Andrew, and Moe analyze ISM updates, a mixed bag for jobs, and Lululemon's strong quarter. 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 updates us on his thoughts on Powell's position on inflation, recent reported earnings, and a potential presidential run by Jamie Dimon. 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