The Morning Market Briefing

Ben and Tom discuss China's "Zero-Covid" Policy and its impact on the global market, primarily the slowing of Apple's production of new iPhones. Meta plans large-scale layoffs, and Apple released a short, somewhat odd press release blaming the city of Zhangzhou, and their Covid policy, on the slowing iPhone production. Berkshire Hathway saw negative EPS, and Buffet released a somewhat odd statemen...

Tom and Ben discuss a mixed bag of earnings reports as signs of stress are continuing to show throughout the economy. Several large companies have announced another round of hiring freezes and layoffs, including Amazon, Apple, Lyft, Qualcomm, and Twitter. Jobs reports showed bad news as employment was down from last report. For information on how to join the Zoom calls live each morning at 8:30 ES...

Tom and Ben discuss the release of economic data showing an apparent slowing of the economy. Qualcomm notes that smartphone sales are down nearly 8% as Costco sees monthly sales begin to decelerate. Refined oil sees their lowest inventories since 2014, and the future of the reserve supply isn't exactly certain. FED meeting recap creates another push of lowered senitment in the market as the rate h...

Ben and Tom discuss earnings updates from AMD, as they've seen a positive quarter of business. A few earnings reports from some staple entities, CLX and MDLZ, also show positive signs of improvement. Economic data shows that jobless claims are up and manufacturing is down. With the FED meeting upcoming, the expectation is for another 75 bps hike with another potential 50-75 bps rate hike in Decemb...

Ben and Tom discuss earnings updates from several companies, notably UBER beating expectations and JNJ doing very well. A few tech stocks faired well as the market continues to be turbulent - NXPI up and ANET flat. Pharma continues to do well, and energy markets appear to be headed towards furthered growth as well. For information on how to join the Zoom calls live each morning at 8:30 EST, visit...

Ben and Tom discuss the FED's commentary about disliking the continued growth of the market, due to inflationary concerns. Euro area continues to see inflation grow month over month. Lula wins the Brazilian presidency, and earnings reports continue to flow in throughout this week. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog...

Ben, Andrew, and Tom discuss this morning’s Bloomberg article squashing the notion that the Fed will pivot from their rate hike strategy, a steadying in the most recent PCE print, the completion of the acquisition of twitter by Elon Musk, Elliot Management increasing its stake in Swedish Match, a number of earnings reports headlined by a great quarter from AAPL and a very disappointing quarter fro...

Ben, Andrew, and Tom discuss incoming economic data, the mixed bag these results are for the Fed, the 0.75% rate hike out of the ECB, the joint venture between Japan Tobacco and Altria in the heated tobacco space, earnings out of a number of big companies including the disastrous results from META, upcoming earnings from AAPL, AMZN, INTC, and PXD, and many more big earnings to come. For informatio...

Ben and Tom discuss new British PM Rishi Sunak, Meta’s continued struggles with Apple, the Saudi’s desire to drive oil prices higher, some signs of weakening revealed in the earnings reports of MSFT, TXN, and GOOG, and a surprisingly optimistic report out of 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-bri...

Andrew, Ben, and Tom discuss the EV car market as GM and other auto manufacturers are seeing positive signs. The housing market continues to take a tumble as builders are walking from land options and housing contracts continue to see growing cancellations. Earnings reports continue as some are seeing green while other are continuing to follow a red trendline. For information on how to join the Zo...

Ben, Tom, and Andrew discuss sentiment in the market with the potential of a lessened rate hike to 50bps in December, noted in an article by Nick Timiraos in the WSJ. Japan fights to keep the Yen from weakening further, as it continues to slide. Boris Johnson removes himself from the PM elections in the UK. Xi Jinping will continue as the leader of China for an 'unprecedented' 3rd term, the longes...

Andrew and Ben discuss the resignation of Liz Truss, following an incredibly short tenure at the helm of the UK. Her replacement is set to be put in place quite quickly, as her successor (yet to be named) will begin in 7 days. Elon Musk's acquistion of Twitter is under fire again, as he outlines a bleak future for the current function of the company as he takes over. Earnings reports continue to e...

Tom and Ben discuss the continued conversations around the Biden administration's release of the final reserves authorized earlier this year. The plans for replenishment are focused on doing so when the price of oil drops to between $67-72/barrel. Interest rates continue to be on the rise. Earnings reporst continue this week, as TSLA is down 5%, LRCX is flat, and IBM is up 3% (to note a few larger...

Ben and Tom discuss the oil announcement to come regarding releases from the SPR as well as the plans to restock the reserves in the future. Earnings reports continue to come in as Netflix announces an addition to subscribers for the first time in 3 quarters. Inflation continues as fears continue to grow regarding a recession. For information on how to join the Zoom calls live each morning at 8:30...

Ben and Tom discuss the White House planning an SPR announcement as Core CPI continues to be elevated. They plan to release another 10-15 million barrels of oil as part of a drawdown announced in the spring. The market has a strong rally as earnings are continuing to be reported this week. Market sentiment overall is low, as cash has hit an all time high in investor porfolios since April of 2001....

Ben and Tom discuss Liz Truss firing of UK Chancellor of the Exchequer, Kwasi Kwarteng. China kicks off its five-year Party Congress with Xi Jingping for an unprecedented 3rd term. Goldman Sachs looks to shift some of their business strategy moving forward, and Meta struggles immensely to make progess regarding the meta-verse. There is a big week of earnings reports coming this week. For informati...

Andrew is joined by Ben and Tom via Texas. Ben and Tom share about the conference they've been attending out in Texas. Kroger confirms their offer to buy Albertson's, and Beyond Meat plans to lay off 20% of their work force. Bank reports are positive, despite the fact that borrowing capital is much more expensive compared to the recent history. For information on how to join the Zoom calls live ea...

Andrew discusses the release of CPI numbers, as the market responded quite negatively in real time to the release. CPI numbers only moved 0.4 overall, but the expectation that overall inflation would be down to 8.1 was met with unfavorable results as it failed, dropping only to 8.2. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/bl...

Narwhal's presentation on the third quarter of 2022. Discussion of the highs, lows, and plans moving forward for the coming quarter and year.

Andrew discusses the market's continued downturn - yesterday had the second lowest closing of the year; 10-year bond closed at the second highest rate of the year. Merck and Moderna announce a joint development on a new cancer drug. PPI released tomorrow morning. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-market-brie...

Ben, Tom, and Andrew discuss all that transpired last week, Ukraine getting hit hard with Russian attacks, the Bank of England attempting to support the bond market, and a busy week ahead. 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

Ben, Tom, and Andrew discuss AMD’s profit warning, Credit Suisse plans to buy back bonds, Biden’s executive order surrounding cannabis, and some important economic 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-briefings Please see disclosures

Tom, Ben, and Andrew discuss ISM services data, OPEC+ agreeing to a cut of 2 million barrels per day, Ford continuing to raise prices on the Lightening, Peloton’s announcement to lay off 500 employees, strong sales results from Costco, and tomorrow’s employment report. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-marke...

Ben discusses ISM Manufacturing results as numbers continue to push downward as news comes out. It appears that central banks appear to be turning the corner, and Fed commentary notes that we "still have a long way to go." The market continues to rally after an abismal past two weeks. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/...

Ben rejoins Andrew and Tom to discuss the U-turn by the UK, the reason for the Fed’s emergency meeting, the reduction plan from OPEC+, some concerns of out TSLA, GOOG, and Credit Suisse, and the continued struggles for Russia in their war against Ukraine. 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 Pl...