Commissar SFLUFAN Posted August 5 Share Posted August 5 The Nikkei 225 is down 12% Quote Link to comment Share on other sites More sharing options...
Commissar SFLUFAN Posted August 5 Share Posted August 5 DJIA Futures down nearly 1,300 (-3.25%) NASDAQ Futures down 1,000 (-5.7%) This is gonna be a "capitulation day". Quote Link to comment Share on other sites More sharing options...
Commissar SFLUFAN Posted August 5 Share Posted August 5 Wharton's Jeremy Siegel says Fed needs to make an emergency rate cut WWW.CNBC.COM Wharton's Jeremey Siegel called on the Fed to make an emergency 75 basis-point cut in the federal funds rate after Friday's jobs report. Quote Wharton’s Jeremey Siegel on Monday called on the Federal Reserve to make an emergency 75 basis-points cut in the federal funds rate after Friday’s disappointing jobs report. In addition, there should be “another 75 basis point cut indicated for next month at the September meeting — and that’s minimum,” Siegel, professor emeritus of finance at University of Pennsylvania’s Wharton School, said on “Squawk Box” on Monday. “The fed funds rate right now should be somewhere between 3.5% and 4%,” he said. A basis point is 1/100th of a percentage point. A move by the Fed between meetings would be unusual, although not unprecedented. 1 Quote Link to comment Share on other sites More sharing options...
Air_Delivery Posted August 5 Share Posted August 5 15 minutes ago, Commissar SFLUFAN said: DJIA Futures down nearly 1,300 (-3.25%) NASDAQ Futures down 1,000 (-5.7%) This is gonna be a "capitulation day". Seems like Nasdaq is calming a bit. Quote Link to comment Share on other sites More sharing options...
Jwheel86 Posted August 5 Share Posted August 5 28 minutes ago, Commissar SFLUFAN said: Wharton's Jeremy Siegel says Fed needs to make an emergency rate cut WWW.CNBC.COM Wharton's Jeremey Siegel called on the Fed to make an emergency 75 basis-point cut in the federal funds rate after Friday's jobs report. Wouldn't that just panic the market? Quote Link to comment Share on other sites More sharing options...
Commissar SFLUFAN Posted August 5 Share Posted August 5 1 minute ago, Jwheel86 said: Wouldn't that just panic the market? ¯\_(ツ)_/¯ Quote Link to comment Share on other sites More sharing options...
Kal-El814 Posted August 5 Share Posted August 5 17 minutes ago, Jwheel86 said: Wouldn't that just panic the market? Doesn’t matter lol, the people demand the next chapter of financial fanfic. Quote Link to comment Share on other sites More sharing options...
Commissar SFLUFAN Posted August 5 Share Posted August 5 Somehow, AMD is bucking the trend! AMD: Advanced Micro Devices Inc - Stock Price, Quote and News - CNBC WWW.CNBC.COM Get Advanced Micro Devices Inc (AMD:NASDAQ) real-time stock quotes, news, price and financial information from CNBC. 1 Quote Link to comment Share on other sites More sharing options...
SuperSpreader Posted August 5 Share Posted August 5 I'm here looking Stoopid with my 13700 Quote Link to comment Share on other sites More sharing options...
Brian Posted August 5 Share Posted August 5 Amd 💎 🙌 1 Quote Link to comment Share on other sites More sharing options...
elbobo Posted August 5 Share Posted August 5 6 minutes ago, Commissar SFLUFAN said: Somehow, AMD is bucking the trend! AMD: Advanced Micro Devices Inc - Stock Price, Quote and News - CNBC WWW.CNBC.COM Get Advanced Micro Devices Inc (AMD:NASDAQ) real-time stock quotes, news, price and financial information from CNBC. probably a lot of investors that jumped out of Intel and Nvidia over the last week due to their issues is moving over to AMD 1 Quote Link to comment Share on other sites More sharing options...
b_m_b_m_b_m Posted August 5 Author Share Posted August 5 Yall look at the market? weird 1 Quote Link to comment Share on other sites More sharing options...
SuperSpreader Posted August 5 Share Posted August 5 12 minutes ago, elbobo said: probably a lot of investors that jumped out of Intel and Nvidia over the last week due to their issues is moving over to AMD I should've done the same, I've known for a while about the issues but it didn't click that's why I'm not retired yet Quote Link to comment Share on other sites More sharing options...
mclumber1 Posted August 5 Share Posted August 5 Quote Link to comment Share on other sites More sharing options...
Massdriver Posted August 5 Share Posted August 5 20 minutes ago, Commissar SFLUFAN said: Somehow, AMD is bucking the trend! AMD: Advanced Micro Devices Inc - Stock Price, Quote and News - CNBC WWW.CNBC.COM Get Advanced Micro Devices Inc (AMD:NASDAQ) real-time stock quotes, news, price and financial information from CNBC. It is the only green stock or equity etf in my portfolio. Crypto is getting hammered hard too. Ether is down 15%, Bitcoin 9%. Quote Link to comment Share on other sites More sharing options...
SuperSpreader Posted August 5 Share Posted August 5 Actually ytd they are down Quote Link to comment Share on other sites More sharing options...
Jason Posted August 5 Share Posted August 5 Lots of brokerage are completely down, reputable ones too not just crap like Robinhood. Quote Link to comment Share on other sites More sharing options...
TUFKAK Posted August 5 Share Posted August 5 Buy and always buy some more is how I live. Sell me your shit people. 1 Quote Link to comment Share on other sites More sharing options...
Massdriver Posted August 5 Share Posted August 5 Bottom line is AMD was already beat up. Quote Link to comment Share on other sites More sharing options...
Jason Posted August 5 Share Posted August 5 1 minute ago, TUFKAK said: Buy and always buy some more is how I live. Sell me your shit people. Can't buy if you can't log into your brokerage. Quote Link to comment Share on other sites More sharing options...
Brian Posted August 5 Share Posted August 5 Shocker how the market shits the bed, the public brokerage accounts just happen to run into issues. I’m sure the SEC will investigate Quote Link to comment Share on other sites More sharing options...
Brian Posted August 5 Share Posted August 5 What we buying today?! Quote Link to comment Share on other sites More sharing options...
SuperSpreader Posted August 5 Share Posted August 5 2 minutes ago, Jason said: Lots of brokerage are completely down, reputable ones too not just crap like Robinhood. My Ameriprise is fine, I dunno. I'm not touching anything. I let my financial advisor deal with it. I'm not retiring tomorrow. Quote Link to comment Share on other sites More sharing options...
TUFKAK Posted August 5 Share Posted August 5 Just now, Jason said: Can't buy if you can't log into your brokerage. Mine lets me set auto, I’ll just make some adjustments later. Quote Link to comment Share on other sites More sharing options...
Massdriver Posted August 5 Share Posted August 5 3 minutes ago, Brian said: What we buying today?! If I was buying, which I’m not, I would just buy index funds like I normally do such as VT. 1 1 Quote Link to comment Share on other sites More sharing options...
SuperSpreader Posted August 5 Share Posted August 5 We're still up from the Trump admin by a lot. I don't get the freakout. It just peaked and it seems like it always crashes every peak every 4-6yr. 1 Quote Link to comment Share on other sites More sharing options...
osxmatt Posted August 5 Share Posted August 5 9 minutes ago, Jason said: Lots of brokerage are completely down, reputable ones too not just crap like Robinhood. It’s back up now, but my Fidelity account was down the first hour of trading. Quote Link to comment Share on other sites More sharing options...
SuperSpreader Posted August 5 Share Posted August 5 1 minute ago, Massdriver said: buy index funds 1 Quote Link to comment Share on other sites More sharing options...
osxmatt Posted August 5 Share Posted August 5 It’s become increasingly clear (to be fair, it was at the time) that the Fed should have cut rates in April or May. Quote Link to comment Share on other sites More sharing options...
Jason Posted August 5 Share Posted August 5 Just now, osxmatt said: It’s become increasingly clear (to be fair, it was at the time) that the Fed should have cut rates in April or May. Maybe too much tin foil here but we know Trump was pressuring Powell not to raise interest rates before the 2020 election... Quote Link to comment Share on other sites More sharing options...
Massdriver Posted August 5 Share Posted August 5 6 minutes ago, osxmatt said: It’s become increasingly clear (to be fair, it was at the time) that the Fed should have cut rates in April or May. Senator Warren has been screaming at them to do so. I thought she was just playing politics, but she could have also been correct. Quote Link to comment Share on other sites More sharing options...
Brian Posted August 5 Share Posted August 5 It’s time for Kamala to drop some choice words towards Powell Quote Link to comment Share on other sites More sharing options...
Kal-El814 Posted August 5 Share Posted August 5 16 minutes ago, Brian said: It’s time for Kamala to drop some choice words towards Powell Quote Link to comment Share on other sites More sharing options...
Commissar SFLUFAN Posted August 5 Share Posted August 5 The July ISM report came in slightly ahead of expectations. US service sector rebounds in July; employment also recovers (Reuters) Quote U.S. services sector activity rebounded from a four-year low in July amid a bounce back in new orders and the first increase in employment in six months, which could help to quash fears of a recession that have been sparked by a surge in the unemployment rate last month and an ongoing stock market sell-off. The Institute for Supply Management (ISM) said on Monday that its nonmanufacturing purchasing managers (PMI) index increased to 51.4 last month from 48.8 in June, which was the lowest level since May 2020. A PMI reading above 50 indicates growth in the services sector, which accounts for more than two-thirds of the economy. The ISM views readings above 49 over time as generally indicating an expansion of the overall economy. Economists polled by Reuters had forecast the services PMI rising to 51.0. The report appeared to help lift U.S. stock market indexes from their early-morning lows, although the benchmark S&P 500 Index was more than 3% lower in the latest leg of a stock market sell-off that has mushroomed into a global equities rout. The S&P has dropped nearly 5% in the last two sessions, its biggest two-day loss in more than two years. Quote Link to comment Share on other sites More sharing options...
Commissar SFLUFAN Posted August 5 Share Posted August 5 Some context on the global nature of this correction: Global market rout has more to do with end of cheap funding than US economy (Reuters) Quote A meltdown in world equity markets in recent days is more reflective of a wind-down of carry trades used by investors to juice their bets than a hard and fast shift in the U.S. economic outlook, analysts say. While Friday's weaker-than-expected U.S. jobs data was the catalyst for the market sell-off, with Japan's blue-chip Nikkei index on Monday suffering its biggest one-day rout since the 1987 Black Monday selloff, the employment report alone wasn't weak enough to be the main driver of such violent moves, they added. Instead, the answer likely lies in a further sharp position unwind of carry trades, opens new tab, where investors have borrowed money from economies with low interest rates such as Japan or Switzerland, to fund investments in higher-yielding assets elsewhere. They have been caught out as the Japanese yen has rallied by more than 11% against the dollar from 38-year lows hit just a month ago. "In our assessment a lot of this (market sell-off) has been down to position capitulation as a number of macro funds have been caught the wrong way around on a trade, and stops have been triggered, initially starting with FX and the Japanese yen," said Mark Dowding, chief investment officer at BlueBay Asset Management, referring to pre-determined levels that trigger buying or selling. "We don't see evidence in data that's saying we're looking at a hard landing," he added. Quote One Asian-based investor, who asked not to be identified, said that some of the biggest systematic hedge funds that trade in and out of stocks based on signals from algorithms, started selling equities when last week's surprise Bank of Japan rate hike sparked expectations for further tightening. While exact numbers and the specific positioning shifts underlying the moves are hard to come by, analysts suspected that crowded positions in U.S. tech stocks, funded by carry trades, explain why they are suffering the most. Quote Carry trades, boosted by years of ultra-easy Japanese monetary policy, prompted a boom in cross-border yen borrowing to fund trades elsewhere, ING said. Bank for International Settlements data suggests cross-border yen borrowing has increased by $742 billion since the end of 2021, the bank noted. "It's a yen-funded carry unwind and Japanese stock unwind," said Tim Graf, head of macro strategy for Europe at State Street Global Markets. "Our positioning metrics show investors overweight Japanese stocks. They were underweight yen. They're no longer underweight yen." Speculators have cut bearish bets against the yen aggressively in recent weeks, bringing the net short position in the yen to $6.01 billion, its smallest since January, down from April's seven-year high of $14.526 billion, most recent weekly data from the U.S. markets regulator shows. "You can't unwind the biggest carry trade the world has ever seen without breaking a few heads," said Societe Generale's chief currency strategist Kit Juckes. Quote Link to comment Share on other sites More sharing options...
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