The Morning Market Briefing

Andrew, Ben, and Tom discuss weak earnings out of Nike, a bad 5-year bond auction, mutual funds and ETFs beginning to focus more on municipal bonds, and the expectations for the upcoming earnings season. 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 highpoints from the G-7 meeting, the state of inflation, whether or not we have seen the bottom in the market, and some last meaningful earnings as we move into quarter end. Also, a shout out to our producer, Logan Johnson, for getting married this weekend. 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 factors that led to the first up week in equity markets in nearly a month, why these factors don’t necessarily spell good news for the underlying economy, earnings out of FedEx, and the markets response to these earnings which could reveal a shift in market sentiment. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalca...

Ben and Andrew discuss the estimated jobless claims as the economy continues to trend towards recession. The also discuss Powell's comments at length regarding his sentiment and understanding of what needs to happen to right the ship of the economy. The episode also discusses Zuckerberg's interview last night on Mad Money and natural gas shortages in Germany and other European countries. For infor...

Ben and Andrew discuss the Biden Adminstration's plan to create a "gas tax" holiday. The affects of the potential gas tax include issues with already existing oil industry relations as well as an uphill battle within Congress to get passed. They also discuss the upcoming Powell testimony, municipal funds trading at discounts, continued layoffs in Silicon Valley, and the issues in Kaliningrad as NA...

Andrew and Ben discuss the current market sentiment on inflation and the "probability" of recession. Goldman speculates that chances of recession are increasing, and Bullard comments on inflation and the Fed's credibility moving forward with handling it. The episode also discusses Biden's comments on student debt forgiveness and a gas tax holiday. They finish with a conversation of Lennar earnings...

Ben and Andrew discuss the continued downturn in the market, including jobless claims and the FED's 75 point rate hike. The market continues to slide in Europe as the Swiss National Bank increase rates for the first time in 15 years although their interest rates are still negative. Nothing new in terms of sentiment to what's going on across the global economy, so Andrew and Ben discuss further. Fo...

Ben and Andrew discuss the most recent economic data and its impact, the growing momentum in layoff announcements, Biden’s letter to petroleum refining companies, the news out of central banks around the world and the potential cracks in the Bank of Japan, and the upcoming Fed announcement. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapita...

Andrew and Logan discuss the current state of the market - why is it down so much, how did it get here, what are we doing about it from an investment standpoint, and when will it end? The goal of this episode is to help clients and non-clients alike to understand how the market has gotten to the place that it is and how we are planning to interact with it as an investment firm.

Tom, Ben, and Andrew discuss the current market collapse. The US Market is seeing steep drawbacks as inflation continues to be an issue, and the effects ripple throughout the secondary and tertiary markets as well. Internationally, the German DAX is down over 2%, the UK FTSE 100 down close to 2%, and and the Hong Kong Hang Seng is down over 3%. Crypto is following suit with Bitcoin and Ethereum bo...

Ben, Andrew, and Tom discuss more Janet Yellen comments as she talks through the current state of the economy. Her comments inspire little to no faith in the decisions and policies being enacted to combat inflation. Following that discussion, CPI reports showed a continued increase in inflation, also indicating that measures currently taken to correct inflation are not working well. For informatio...

Tom, Ben, and Andrew discuss the current status of the ECB. The ECB is ending purchases under their pandemic emergency program, and they're planning to increase interest rates as they are currently negative. The podcast finishes up with the CPI forecasts as we await the reporting coming soon. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapi...

Ben and Tom discuss Janet Yellen's comments on inflation, focusing on the state of inflation in the US economy as well as possible ways to ease inflation moving forward. They also discuss the 10-year note auction, the FTC's probing of pharmacy benefit managers, and TSMC guidance changes. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.c...

Ben, Andrew, and Tom discuss another downward revision by Target, the readthrough on the health of the American consumer, Boris Johnson surviving the confidence vote, Jeff Currie of Goldman calling for $135/barrel of oil for the next 6 months, Janet Yellen speaking before the Senate Finance Committee this afternoon, and the new Apple IOS 16 update. For information on how to join the Zoom calls liv...

Andrew, Ben, and Tom discuss the inventory issue facing several retail companies, two big ones being Amazon and Walmart. Also, in news for Amazon is their 20:1 stock split, as well as their head of Worldwide Consumer Business is leaving. Elon Musk reported at the end of last week that 10% of salaried employees would be laid off, a sentiment that will likely be shared among a variety of companies a...

Ben and Tom discuss the labor report from the month of May. There are currently a lot of hiring freezes and layoffs beginning, highlighted by Elon Musk's announcement to pull back 10% of their current employees. They also discuss Musk's "return to the office" at Tesla and how that trend may continue through other industries and companies. For information on how to join the Zoom calls live each mor...

Andy Su is the co-founder of Pry Financials, a financials platform for start-ups as they develop business plans and strategy for their ideas. Pry recently sold to Brex, a company that also helps businesses with software integration as they are developing business strategy for their start-up companies. Andy shares the origin story of Pry as well as several other ventures, including the process of i...

Tom and Ben discuss the current state of the job market, including job hiring slowdowns and layoffs beginning to take place. They also discuss the situation in the oil market as gas prices continue to rise in the US. Other topics include Sheryl Sandberg (14 year COO) Facebook/Meta, Ford's plans for a big announcement, and both James Bullard's and Jamie Dimon's comments on inflation. For informatio...

Andrew, Ben, and Tom discuss the reports for SalesForce as they were up in the market after results that were in-line with expectations. They also talk through the "work arounds" that European countries have for Russian oil bans. Lastly, they discuss former FED chair Janet Yellen's questionable remarks, or lack thereof, regarding the state of the economy as a result of the governments involvement,...

Ben and Tom primarily discuss the state of European inflation and the Biden administration's plans for the "new normal" of the American economy. Europe is currently facing a similar inflationary issue as the US, yet their economy is growing at a much slower rate, which could create future issues for them. The Biden administration is hoping to provide guidance and instill hope for the future of the...

Andrew, Tom, and Ben discuss the recent market rally, wage and pricing pressures on companies, an increase in equity fund flows, brutal earnings out of GAP and Big Lots, and a quality quarter from Costco. 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, Andrew, and Tom discuss the GDP in the midst of Q1 wrap up and the choppy state of the market. Nvidia released their Q1 reports yesterday, so they discussed the state of Nvidia's course. Other topics include Apple's plan for flat phone production, the FED's updates and plans for inflation moving forward and the state of the apparel market in the US. For information on how to join the Zoom cal...

Ben and guest star Jon Hicks discussed the still continuing downtrend in the tech sector. Lyft was absolutely crushed, and we will continue to monitor other Q1 reports from big tech players like NVIDIA as guidance is released. Nordstrom reported quite positive numbers, moving their guidance up in a reeling retail market. Eyes are all on the FED as their announcement is to come this afternoon. For...

Ben and Tom discuss SNAP's large fallout from yesterday and today's market shift, and they expand their conversation into the sustainability of ad-based companies like SnapChat. They also move their discussion into the conversation of how consumer discretionary spending sentiment may function moving forward. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https:/...

Andrew, Tom, and Ben discuss Friday’s wild trading day, the potential acquisition of VMware by Broadcom, Apple’s attempt to boost production outside of China, the upcoming investor day from JPM, President Biden’s comments regarding China and Taiwan, the plan by the White House to temper diesel costs, and an important earnings week. For information on how to join the Zoom calls live each morning at...