AI bubble ending is one thing but the housing situation? Well, gets interesting, doesn’t it?
“YEAR-OVER-YEAR
The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reported a 3.9% annual return for December, up from a 3.7% annual gain in the previous month. The 10-City Composite saw an annual increase of 5.1%, up from a 5% annual increase in the previous month. The 20-City Composite posted a year-over-year increase of 4.5%, up from a 4.3% increase in the previous month. New York again reported the highest annual gain among the 20 cities with a 7.2% increase in December, followed by Chicago and Boston with annual increases of 6.6% and 6.3%, respectively. Tampa posted the lowest return, falling 1.1%”
Well, hurricanes will do that. But look at this:
“MONTH-OVER-MONTH
The pre-seasonally adjusted U.S. National and 20-City Composite Indices’ upward trends continued to reverse in December, with both posting a -0.1% drop. The 10-City Composite’s monthly return dropped 0.04%. After seasonal adjustment, the U.S. National, 20-City, and 10-City Composite Indices all posted a month-over-month increase of 0.5%.”
Markets are set to rally so we shall see.
G
“Ai bubble ending is one thing..” da F you talkin bout Willis ?
Ai Wars are just getting started Kemosabe, we are at the very beginning of such battles, that eventually will determine a Winner.
What are you going for the Favor of the “new” Liberal Press entities – trying to get some of that USaid largesse ? Or just looking to become truths newest source for twisted news ?
Why not finish Ure missive with a misdirect ? how about some thing like, “markets are set to rally? – good one Chief, though for the life of me I dont understand WHY you would act like that?????????????????
Thank goodness SPY 385 Puts and QQQ 506 Puts – 3/3 Exp. cant read, otherwise BCN might be in Cover mode this AM..NOT .
BTC, GOLD/Silver looking Cheap. As 4 Dividend payers – ‘I just cant get enough” -https://youtu.be/_6FBfAQ-NDE?si=rZ67j9JK4qlb_7Lv
I have been looking for the reason.., can’t find the trigger – but Bitcoin dropped over $8,000 this morning.., taking most of the stock market with it. It is coming back slowly.., now down $7,100., but I am not sure what caused the bitch-slap.[ currently $86,700.]
Is this the point where I say “Yep, no bitcoin for Ure”?
The Conference Board’s Consumer Confidence Index for February came in at a reading of 98.3, a significant drop from January’s revised 105 reading and short of the 102.5 reading expected by economists.
“In February, consumer confidence registered the largest monthly decline since August 2021,” according to The Conference Board. “This is the third consecutive month-on-month decline, bringing the Index to the bottom of the range that has prevailed since 2022.”
The “Present Situation Index,” which measures consumers’ assessment of current business and labor market conditions, fell to 136.5 in February from 139 in January.
The “Expectations Index,” which tracks consumers’ short-term outlook for income, business, and labor market conditions, also fell to 72.9 in February from 82 last month. Historically, a reading below 80 in this index signals a recession in the coming year.
“Comments on the current Administration and its policies dominated the responses.”
* * *
My aggregate index – “Carnac The Magnificent” got bitch-slapped this morning [ wish I could trade that index ! ] It has dropped significantly below the up-trend line., below the 42 day MA., blew past the 85 day MA., and has dropped completely out of the Bollinger Bands. It’s looking really fugly.
Which probably means a small recovery bounce is in the works for a few days.
None of this is trading advice – as I have a very negative bias towards the markets right now.
Ten Year Bond hit a record low for the year.
Even Gold got hammered., down $52.00 – safe haven asset ? Not in todays’ markets.
Oil drops to the lowest levels this year – currently below $69.00 a barrel.
.., and Bitcoin is still down over $7,600 – and I still can’t find what triggered the sell-off., which has been touted as a safe haven from political and economic turmoil .
.
Does all of this smell like the beginning of an economic crash ? Kind of ?
OK.., maybe not a “crash”. But did we just fire-up the furnace for a slow rolling melt-down ?
Aluminum producer Alcoa said on Tuesday that U.S. President Donald Trump’s plan to impose a tariff on aluminum imports could cost about 100,000 U.S. jobs and would itself not be enough to entice it to boost production in the country.
Trump earlier this month said he would impose a flat 25% tariff on aluminum imports “without exceptions or exemptions” in a bid to lift U.S. production of the metal used to make automobiles, cans and other products.
The tariff takes effect on March 4.
Bill Oplinger, Alcoa’s CEO, told the BMO Global Metals and Mining Conference in Florida that the tariffs could cost about 20,000 U.S. aluminum industry jobs and further 80,000 jobs in sectors that support it.
The tariffs alone would not be enough to entice Alcoa to restart some of its shuttered U.S. facilities, the CEO said, adding that Trump officials have asked the company to do just that.
U.S. data showed aluminum smelters produced just 670,000 metric tons of the metal last year, compared with 3.7 million in 2000. Plant closures in recent years, including in Kentucky , Washington and Missouri, mainly due to electrical costs, have left the country largely reliant on imports.