Monday, June 3, 2024

A major glitch wrecks havoc!

Plus, what stage of the cycle are we in?
 
   
     
Friday, May 31st
“Violence can only be concealed by a lie, and the lie can only be maintained by violence.”

— Alexander Solzhenitsyn

 
____________________________________________________
---------- Markets Today ----------
 
🌏 Asia-Pacific: Up a bit
🇪🇺 Europe: Up
🇺🇸 United States: Down
🛢️Oil: Down
⚡Crypto: Up

 
------- Major Market Events -------
 
Manufacturing dries up fast: The latest ISM numbers are out and they aren't great (link)
 
Major glitch: A technical glitch has almost completely wiped out Berkshire Hathaway (link)
 
April recession: Did a recession begin April? This Fed indicator seems to indicate yes (link)​​
🤔 My Thoughts
 
What stage of the cycle are we in? Q1 GDP was 1.8%. The Fed is now revising Q2 expectations down from 4.8% to 1.8%. Consumer psending is down. Pending home sales are down a massive 7.7%. Manufacturing orders are at their lowest in two years. 

Are we in the recession? Or are we approaching it?
To Better Trading, 

Alex Reid
Founder, Wealthpin 
 
WealthPin
   
     
   
 

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