The Morning Market Briefing

Andrew, Ben, and Tom discuss a significant number of mergers - CVS acquires Signify, UPS acquires Bomi, Atlas aquires Apollo, Pfizer acquires Global Blood Therapeutics, and Whirlpool acquires InSinkErator. China continues to military demonstration around Taiwan, and the Senate have approved the Inflation Reduction Act which now moves to the House. CPI numbers come out later this week, and the FED...

Ben, Andrew, and Tom discuss China’s response to Speaker Pelosi’s trip to Taiwan, some new details of the Inflation Reduction Act, the readthrough from a huge beat in the Nonfarm Payrolls data and what influence that could have on the Fed moving forward, as well as a hugely important CPI print coming up next week. For information on how to join the Zoom calls live each morning at 8:30 EST, visit h...

Ben, Andrew, and Tom discuss the ISM Services data that was better than expected, impending recessions and high inflation commentary out of the Bank of England following their 50bp hike, weak earnings out of BKNG, QRVO, CLX, as well as some fear of margin compression after a sales data report out of COST. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://ww...

Ben, Andrew, and Tom discuss speaker Pelosi’s controversial trip to Taiwan, OPEC+ pledging to increase oil production by 100k barrels/day (the smallest increase in OPEC+ history), a relatively uneventful JOLTS job report, Jim Bullard’s (St. Louis fed president) comments on CNBC, Robinhood laying off 23% of its work force, and earnings results out of PYPL, MCHP, AMD, and SBUX. For information on ho...

Ben, Andrew, and Tom discuss Nancy Pelosi’s trip to Taiwan, a few positive reads from the ISM manufacturing report, the outlook for the JOLTS job openings report, earnings out of CAT and Uber, and Andrew’s shift back to the old-fashioned taxicab. 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...

Ben and Tom discuss the market’s reaction to commentary out of the Fed, whether or not that reaction is warranted, responses from Fed officials to the situation, and another busy week that includes manufacturing and service report data, job openings prints, and an OPEC+ meeting. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/d...

Ben and Tom provide a deep dive into the robust earnings out of Apple and Amazon, dissapointing results from Roku and Intel, and the four most important takeaways from yesterday's GDP report. 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 more earnings reports as well as the big announcement on GDP. GDP reporting was -0.9%, which would technically indicate a recession, something that the guys have been discussing for quite some time now. There are continued efforts to reduce inflation as the larger market sentiment is catching up to understanding things are going poorly. For information on how to join t...

Ben, Tom, and Andrew discuss big earnings reports from Google, Microsoft, and Visa. Elliot Management is building a stake in Paypal, which is a stark contrast from Meta's announcement of brutal, harsh cost cuts. Biden to have a call with China's president Xi for the first time since March. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital...

Ben, Tom, and Andrew discuss Janet Yellen's comments that she "sees no recession." Earnings reports are still coming in, and the impact of those reports will likely shift markets for the coming months. FED meeting is coming up Wednesday, and we're expecting a 75bp rate hike. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily...

Ben and Tom discuss Europe's economic data trending towards recession. Bonds are in, and people are loving them. Earnings reports are hitting some companies heavily, AT&T down almost 8%, FedEx is suspending Sunday deliveries, and consumer facing tech appears to be in a difficult season. Advertising heavy companies are also seeing big dips as META and Google are down 5% and 2% respectively, with SN...

Tom and Ben discuss Russia's restarting of the Nord 1 pipeline, which restored a large percentage of gas flow, as they also set annexation talks with Russian-seized lands in Ukraine. ECB and BOJ initial jobless claims have been reported for the quarter. Earnings' season continues. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog...

Andrew and Ben discuss the current economic situation in Europe as things continue to be difficult. Russia states they will honor their gas commitments, which could be a lifeline for already soaring prices. Earnings season is upon us, as the guys discuss release of several big company's earnings. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhal...

Ben and Tom discuss European countires easing sanctions on Russian banks in order to allow food trade to continue into African countries. The French government moves to nationalize energy as they are purchasing the outstanding 16% of the EDF. Bank of America releases feedback from Fund Managers Survey that reports most consumers in America are feeling pessimistic about the market as a whole. For i...

Ben and Tom discuss the Jobs Reporting, posing the idea that numbers may be overstated as a result of double reporting in some instances. Alphabet (Google) is conducting a stock split of 20:1, which could entice smaller investors at a much more attractive price for smaller portfolios. The call finishes discussing a potential hopefulness regarding the Euro and EU stocks as gas supplies may take a t...

Ben, Tom, and Andrew discuss Q2 of 2022. They cover the market trends, shifts, and movement over the past 3 months. 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 and Ben continue the discussion on how the FED should respond to the inflation issue. Markets were hit heavily by the CPI numbers from yesterday, and that fallout continues as JP Morgan earnings reports were lower than expected. The episode is concentrated around what creative solutions may exist as the inflation issue continues to rage on. For information on how to join the Zoom calls live ea...

Andrew and Tom discuss the latest CPI numbers, as inflation continues to rise, and they consider what options the FED and Biden Administration have to combat the continued rise. Google annouces plans for layoffs, alongside several other large companies. Biden begins a tour of the Middle East, beginning with a visit to Israel. For information on how to join the Zoom calls live each morning at 8:30...

Ben, Tom, and Andrew discuss the breakdown of Elon Musk's deal with Twitter as it appears Musk is terminating from his end. In other news, frieght prices are falling alongside cruise prices, while car reposessions are starting to move higher. No call tomorrow as we're prepping for our Q2 Macro Presentation. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://...

The boys are back to discuss the resignation of Boris Johnson, China’s consideration of a $220b stimulus package, Merck’s talks to buy Seagen for $40b, strong revenue from Samsung, and the full slate of economic data that was printed yesterday. 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 discusses the pressure that continues to mount against Boris Johnson, the massive moves in the Euro and British Pound, a commodity crash in the US, job growth numbers, another yield curve inversion, and more economic data set to come out later today. 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 Ple...

Ben discusses concerning economic data, the shift from stagflation to full blown recession, troubling signs in Europe, Biden’s potential plan to ease Chinese tariffs, and Jay Powell’s comments showing the Fed’s desire to squash inflation at all costs. 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...

Ben discusses equity and fixed income performance through the first 2 quarters, Eurozone CPI reports, gas rationing in Germany, Kohl’s failed attempt to sell the company, earnings out of Constellation Brands, harrowing words on the economic outlook from Meta CEO Mark Zuckerberg, and a weaker consumer leading to semiconductor inventory build ups. For information on how to join the Zoom calls live e...

Ben, Andrew, and Tom discuss jobs data in the US and Europe, the OPEC+ meeting, another guidance cut from Restoration Hardware, and a slight beat out of Constellation Brands. 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 and Tom discuss the ramifications of the disastrous earnings out of Bed Bath and Beyond, the reversal of some of last week’s positive trends, high costs hitting McCormick’s and General Mills’ earnings, and the NATO build up. 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