oblong Posted July 13, 2022 Share Posted July 13, 2022 anyone else noticing fuel costs going down? When I left for Florida on July 1, my station was $4.89. When I got back on Friday it was $4.79. Been that way since. Down there they were about 50 cents lower but I assume that's just regular state differences, not indicative of any drop. Quote Link to comment Share on other sites More sharing options...
gehringer_2 Posted July 13, 2022 Share Posted July 13, 2022 I think for now they won’t want to cut the spread between the one month and one yr rate, which is 1.5%, by more than half, which means 0.75%, but of course that is a pure guess! Quote Link to comment Share on other sites More sharing options...
1776 Posted July 13, 2022 Share Posted July 13, 2022 19 minutes ago, oblong said: anyone else noticing fuel costs going down? When I left for Florida on July 1, my station was $4.89. When I got back on Friday it was $4.79. Been that way since. Down there they were about 50 cents lower but I assume that's just regular state differences, not indicative of any drop. Yes. We’re seeing a decline in prices here. I’ve seen as low as $4.20 a gallon in the past day or two. Quote Link to comment Share on other sites More sharing options...
Jim Cowan Posted July 13, 2022 Share Posted July 13, 2022 Bank of Canada announced 100 basis this morning, following 75 basis points 6 weeks ago. Quote Link to comment Share on other sites More sharing options...
gehringer_2 Posted July 13, 2022 Share Posted July 13, 2022 9 minutes ago, Jim Cowan said: Bank of Canada announced 100 basis this morning, following 75 basis points 6 weeks ago. Hasn’t seemed to be much pressure in Canada in recent years to pull CAD closer to parity has there? That was more of a thing back in the day. Quote Link to comment Share on other sites More sharing options...
Deleterious Posted July 13, 2022 Share Posted July 13, 2022 Some good news. Real wages dropped by 1% in June. https://www.bls.gov/news.release/realer.nr0.htm Quote Link to comment Share on other sites More sharing options...
CMRivdogs Posted July 13, 2022 Share Posted July 13, 2022 1 hour ago, oblong said: anyone else noticing fuel costs going down? When I left for Florida on July 1, my station was $4.89. When I got back on Friday it was $4.79. Been that way since. Down there they were about 50 cents lower but I assume that's just regular state differences, not indicative of any drop. GasBuddy is showing about a $.20 spread. The ones closest to us off the Interstate are running $4.69 which is down a bit from last week. Closer to grocery, fast food and just outside the tourist strip is $4.49..there's a bit mote competition there. Quote Link to comment Share on other sites More sharing options...
Jim Cowan Posted July 13, 2022 Share Posted July 13, 2022 51 minutes ago, gehringer_2 said: Hasn’t seemed to be much pressure in Canada in recent years to pull CAD closer to parity has there? That was more of a thing back in the day. No, I don't think anybody wants that. There is still a lot of interest in maintaining resource export markets and tourism, and a stronger CAD doesn't really benefit anyone except people who like to cross border shop or spend the winter in Florida. It is true that Canada is the US's largest customer so a stronger CAD would be beneficial there, but it is also true that the US is Canada's largest customer and the current range of 75 to 80 cents seems to be the best balance. It's not too long ago, 15 years maybe, that things were completely reversed and CAD was worth about $1.20 USD. Quote Link to comment Share on other sites More sharing options...
Tigerbomb13 Posted July 13, 2022 Share Posted July 13, 2022 I was in Cleveland yesterday and gas was about 40-50 cents cheaper there than it is here in Ann Arbor. Going to the U.P. today and hoping to see it lower up that way. Quote Link to comment Share on other sites More sharing options...
1984Echoes Posted July 13, 2022 Share Posted July 13, 2022 5 hours ago, Jim Cowan said: Bank of Canada announced 100 basis this morning, following 75 basis points 6 weeks ago. I could see our Fed popping another 75 basis in their July meeting... Quote Link to comment Share on other sites More sharing options...
Jim Cowan Posted July 13, 2022 Share Posted July 13, 2022 3 minutes ago, 1984Echoes said: I could see our Fed popping another 75 basis in their July meeting... That's what everybody thought was going to happen here, 75. Quote Link to comment Share on other sites More sharing options...
1984Echoes Posted July 13, 2022 Share Posted July 13, 2022 We're getting some mixed signals, not definitive higher inflation signals so... I don't see a reason to jump to 100 when we just did 75 last month. I was wondering if they would do a 50 basis hike which - maybe - but I think I would prefer to go conservative this month with 75 and then September/ next meeting re-appraise the situation... Quote Link to comment Share on other sites More sharing options...
1776 Posted July 13, 2022 Share Posted July 13, 2022 (edited) “Now, futures markets are suggesting the Fed could raise rates by a full percentage point in July. The Fed has not raised rates by that amount since it began using the fed- funds rate as a target when setting monetary policy under Alan Greenspan in the late 1980s, economists say. Morningstar July 13 I think this is an early reaction to today’s news. I’m thinking 75 bps. Edited July 13, 2022 by 1776 Quote Link to comment Share on other sites More sharing options...
1776 Posted July 14, 2022 Share Posted July 14, 2022 Crypto lender Celsius Network LLC has filed for bankruptcy protection a month after halting withdrawals, in the wake of a collapse in digital currency prices that stretched the crypto lending platform’s business model past the breaking point. WSJ Quote Link to comment Share on other sites More sharing options...
Deleterious Posted July 14, 2022 Share Posted July 14, 2022 JPMorgan and Morgan Stanley announced earnings this morning. JPMorgan Profit Drops 28% as Bank Signals Concern on Economy Morgan Stanley Profit Falls 29% Quote Link to comment Share on other sites More sharing options...
Screwball Posted July 14, 2022 Share Posted July 14, 2022 CPI; 9.1% (yesterday - lagging indicator) PPI; 11.3% (today - leading indicator) says "hold my beer" 1 Quote Link to comment Share on other sites More sharing options...
Deleterious Posted July 15, 2022 Share Posted July 15, 2022 Black Monday? Quote Link to comment Share on other sites More sharing options...
Screwball Posted July 15, 2022 Share Posted July 15, 2022 I can't believe that fuckwad is still in front of a TV camera 1 1 Quote Link to comment Share on other sites More sharing options...
pfife Posted July 15, 2022 Share Posted July 15, 2022 On 7/13/2022 at 1:04 PM, Tigerbomb13 said: I was in Cleveland yesterday and gas was about 40-50 cents cheaper there than it is here in Ann Arbor. Going to the U.P. today and hoping to see it lower up that way. I was in Munising this past week and at the begining of the week it was 4.44 and 2 days ago it was 4.35. Quote Link to comment Share on other sites More sharing options...
Hongbit Posted July 15, 2022 Share Posted July 15, 2022 15 minutes ago, Screwball said: I can't believe that fuckwad is still in front of a TV camera There are some times when profanity is unnecessary and other times when it’s the only way to accurately convey a point. This case is the latter. Quote Link to comment Share on other sites More sharing options...
Tiger337 Posted July 15, 2022 Share Posted July 15, 2022 (edited) 27 minutes ago, Screwball said: I can't believe that fuckwad is still in front of a TV camera Being a fuckwad is pretty much a TV news requirement now. Edited July 15, 2022 by Tiger337 Quote Link to comment Share on other sites More sharing options...
Screwball Posted July 15, 2022 Share Posted July 15, 2022 45 minutes ago, Tiger337 said: Being a fuckwad is pretty much a TV news requirement now. For sure, and Bubblevision (CNBC) leads in fuckwads. I don't remember who it is, but someone on Twitter is always Tweeting about Cramers's bad calls, and even keeps track of how much you would make if you did the opposite of what Cramer recommends. Next time I see it I will post. TBF, he is not always wrong, but kind of like a stopped clock. I've often wondered how many people actually look to business TV for investing advise. I always had it on, but only with the sound off. I watched for the breaking news and the occasional guest I wanted to listen to. I honestly can't think of one person, as far as anchors that didn't drive me up a wall with their cheerleading BS. Dennis Kneale was another giant POS spewing garbage all the time. I remember getting into a Twitter fight with him, which was hilarious. Him and Macke (who I kinda liked on Fast Money because he was funny) had a few epic run-ins, but I don't think either one is on the network now. Macke is funny and I still follow him on Twitter (as well as Karen Finerman (also on Fast Money)), but that's the only two. Mark Haines was one of the better ones. He did the morning show and on 9/11 was fantastic as all that went down. He died in 2011. Andrew Sorkin may have replaced him, but I'm not sure, but he's one of those people I would just like to smack upside the head just for being a complete and utter dick and deserves to be slapped upside the head. Dylan Ratigan could be good at times. He was the host of Fast Money at one time, but according to Wiki, he left as host of Fast Money in 2009, provoked by outrage over the government's handling of the 2008 financial crisis. In 2011 they he came back as a guest and this happened. An epic rant that probably cemented his absence. I still think he's kind of a hustler, but better than most they parade across that shit show. Quote Link to comment Share on other sites More sharing options...
Screwball Posted July 18, 2022 Share Posted July 18, 2022 Related to the Jim Cramer stuff, I saw this tonight. I wondered if that was true, so I spun up the charts (it's Sunday night anyway) and went back and looked it up. Sure as shit, kinda, the Whale is right. But according to the charts (history), the Dow (looking at that) opened at 17,989, and closed at 17,662 (that day). My math says that's 327, not 332.7, but no biggy. The fact that people actually watch a huckster like him tell us too many people have their head up their ass. And for the record, I don't want to insinuate he was the reason for that market drop that day. We don't know. Still funny, screw him. Quote Link to comment Share on other sites More sharing options...
Deleterious Posted July 18, 2022 Share Posted July 18, 2022 Goldman Sachs Profit Falls as Deal Boom Sputters Bank of America Profit Falls 32% Quote Link to comment Share on other sites More sharing options...
Deleterious Posted July 18, 2022 Share Posted July 18, 2022 It is earnings season. Netflix tomorrow and Tesla on Wednesday will be two to watch. Quote Link to comment Share on other sites More sharing options...
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