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Good Morning Everyone!
Remember, if you can’t afford breakfast because of inflation, just take the media’s advice and don’t eat!
No to Soft Landing/Yes to No-Landing
Data says……higher interest rates. 3.3% to 3.7% (chart below)
Feb. 3 non-farm payrolls up 517,000 in January
Feb. 15 CPI rose 0.5% in January, up 6.4% year-over-year
FOMC March 22 meeting
Yesterday’s CPI report guarantees a 25 point hike
Powell may signal further increases likely (no pause)
7:00 a.m. mortgage applications
8:30 a.m. retail sales +3.0% vs. 1.9% estimate, most in 2 years (No-Landing)
9:15 a.m. industrial and manufacturing production data
Crude $78 -1%
American Petroleum Institute reported a large crude build
Will open part of its charging network to other vehicles by end of 2024
Why? To qualify for government funds in its effort to build a National System
13F filing for Q4 2022
Reduced: Taiwan Semi, US Bancorp, Bank of New York, Activision, Ally Financial, Chevron
Increased: Louisiana-Pacific, Paramont, Apple
New York City Commission will make final wage ruling today
Airbnb +9% Q4 EBITDA beat and guide above street, lower N.A. stronger international
TripAdvisor +10% experiences bookings beat street estimates
Devon -8% Q4 miss, 2023 capex guide higher than expected
Analog Devices +4% slight beat and raise driven by Auto & Industrial chips
Kraft Heinz flat modest beat, conservative guide
Biogen flat new CEO, modest beat
Roblox +15% January bookings beat
Binance stablecoin (BUSD) saw $1 billion in outflows on Monday
Represents ~6% of reserves
Tether ~$1 billion inflows
As traders flee BUSD, Tether gains strength
Stablecoing market dominance now > 50%
CME expanding event contracts
Will include Bitcoin futures
Product launch March 13 (pending regulatory approval)
Allows traders to bet on closing price throughout day
MEME OF THE DAY
Real inflation Government
rate: numbers: https://t.co/2lKuSafUHb
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