"And I will not be mocked!"

From Liz Ann Sonders: December Empire Manufacturing Index update showed prices paid component moving higher (and remains elevated) and new orders component contracting. the outcomes from this are generally not good. #CoSoFinance

After all the selling, is the broad market undervalued? No! S&P 500’s P/E has taken a beating in year/year terms (currently -26.7%), but multiple is still higher than where it was at prior major bear market troughs #CoSoFinance

New orders component within ⁦
the Philly Fed⁩ Index firmly in recessionary territory. Leading indicators continue to suggest a weakening economy, yet the Fed is focused on lagging measures like the strong jobs market. You'd think the Fed would learn from the mistakes of the past, but apparently not. #CoSoFinance

Retail sales increased in November by 6.5% year/year, which was slowest since December 2020 but still quite strong relative to history #CoSoFinance

#CoSoFinance Source: https://www.marketwatch.com/story/given-up-on-wall-street-heres-how-stocks-could-rally-20-next-year-says-veteran-analyst-11671191138

From economist Steve Rattner: The US is home to just 13% of the world’s semiconductor manufacturing capacity, & we make nothing close to the cutting edge. In fact, the vast majority of the world’s most advanced chips are made in Taiwan.

However, w/ new investments in AZ from TSMC, that's set to change! #CoSoFinance

Consumer sentiment increased across the board in U. Mich’s December survey, with the largest increase coming from an improvement in future expectations. So, really, Consumer sentiment is ruled by gasoline prices. #CoSoFinance

Home Sellers Are Pulling Properties off the Market at Record Pace
A record number of homes are being delisted as sellers face a sharp drop in demand, according to real estate brokerage Redfin.

On average, 2% of homes for sale were delisted without being sold each week during the three months ended Nov. 20, Redfin said. That compares to 1.6% a year earlier and is yet another sign that the decade-long housing boom is over. #CoSoFinance https://www.bloomberg.com/news/articles/2022-12-02/will-home-prices-drop-record-number-of-sellers-are-pulling-their-properties

In Producer Prices, it's actually core inflation that is remaining stubbornly strong. Non-core (food and energy) prices are weakening. November PPI +0.3% m/m vs. +0.2% est. & +0.3% in prior month (rev up from +0.2%); core +0.4% vs. +0.2% est. & +0.1% prior (rev up from 0%) … notable that trend for core was moving down from August thru October, but reversed higher in November #CoSoFinance

The latest #inflation numbers are out -- producer inflation, that is. November PPI +7.4% y/y vs. +7.2% est. & +8.1% prior (rev up from +8%); core PPI +6.2% vs. +5.9% est. & +6.8% prior (rev up from +6.7%). Clearly trending down, though not as fast as people hoped.

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Seriously, Twitter? Don't expect me to confirm Elon's gross error in judgment.

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Gas prices are down, and coincidentally, Civiqs polling on the direction of the US economy has improved to around its best level since January. #CoSoFinance

CNBC Pitchbot: How dare anyone say that American CEOs are overpaid? Joe Kernan softball interviews three of the highest paid CEOs, who explain why paying them even more would fix what ails America.

Inflation Surprise Index for U.S. from #Citi has fallen to lowest since December 2020
#CoSoFinance

My latest column -- bullish on silver especially and precious metals broadly -- seems to be working out. https://weissratings.com/en/wealth-wave/silver-is-on-the-launchpad

Continuing jobless claims surprised to the upside and are now at 1.67 million. Big shift upward over the last two months. Paradoxically, higher continuing jobless claims is seen as good news by the stock market, because that raises the odds of the Federal Reserve ending rate hikes sooner than later. #CoSoFinance

Every investor should take this to heart #CoSoFinance