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I am still waiting for substack to reach out to me on the billing fix. It seems since I temporarily paused billing they’re having trouble restarting it. They tell me their engineers are working on it. Once things are fixed I can get back to business as usual and see about lowering the price of the overall newsletter. As a result of this setback I have revised the newsletter as you all remember it.

Before you Trade Today: Know the Economic Calendar! Also See This Weeks Most Anticipated Earnings. NEVER BE SURPRISED BY EASILY ANTICIPATED MARKET BREAKING NEWS. That’s our goal here.

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BUILDING PERMITS & HOUSING STARTS YESTERDAY: Consensus Housing Starts were 1.54m while consensus building permits were 1.65m. Actual numbers came in 1.446 & 1.674, respectively.

RETAIL SALES THIS TODAY: Retail Sales MoM for July will be reported today with FOMC minutes. Consensus retail sales are expected to come in at an increase of 0.1% MoM. That’s not a great number, & its a sure fire indicator that people have adjusted their spending habits to cope with inflation. Now, if this number comes in negative it will rock the markets! However they may come higher than consensus given the most recent retail earnings.

FOMC MINUTES: I don’t suspect any surprises here unless the big money in the market wants to use it as a negative catalyst. We know the Fed wants to increase rates until they see a noticeable & reliable shift on inflation. We also know that the recent decrease in month to month YoY inflation is not enough to give the Fed a warm & fuzzy. I expect the Fed to signal that tackling inflation is their priority over all else, beyond that of employment & the market.

THE UK HIT DOUBLE DIGIT INFLAITON!: The UK consumer price index rose 10.1% annually, according to estimates published by the Office for National Statistics on Wednesday, above a consensus forecast of 9.8% and up from 9.4% in June. Rising food prices made the largest upward contribution to annual inflation rates between June and July. The Bank of England expects inflation to top off at 13.3%.

I suspect there will be some spillover effects from Europe as their prices continue to increase. Remember its a world wide market & Europeans, due to ridiculously low interest rates, are getting priced out quicker than folks here in the US. Major US based global corporations sales will likely be affected as Europeans economize on their needs & cut back on their wants. Indeed its easy to view the world through the market you know. However many of the major companies you think of in the market you know are affected by headwinds across the world from the supply chain to the retailers.

BE CAREFUL IN THESE MARKETS: Do you think that the forward effects of Fed Rate Hikes & Inflation are appropriately priced in or do you think the market is getting ahead of itself? Ask this question to yourself prior to investing.

JULY EXISTING HOME SALES TOMORROW: Existing homes sales are expected to come in at 4.89m. Existing home sales haven’t been that low, aside from the pandemic drop, since 2016.

WORLD MARKETS:

• Stock futures are flat after Dow notches five-day win streak

• European markets nudge higher, struggling to build momentum

• Reserve Bank of New Zealand hikes rate; Chinese food giant Meituan rebounds

RECOMMENDED:

• Wall Street analysts are betting on another red-hot commodity rally before year-end

• Consumers are expected to have spent slightly more in July, but Prime Day may have boosted sales

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TODAY’S EPS EXPECTATIONS: