I see gasoline prices rising further despite this modest short-term & long-term demand destruction.
Snowflake reported earnings again, which these IPO companies should be prohibited from doing because it just kills the stock.
The boom in natural gas exports creates massive demand on US production and connects US prices to the rest of the world.
Stocks of homebuilders swoon amid worst inflation in construction costs, shortages, and spiking mortgage rates that take buyers out of the market.
“The macroeconomic environment has deteriorated further and faster than anticipated.” Kathoomph. And Zoom gives up most of its knee-jerk mini-jump afterhours.
Scrappage rate dropped to lowest in two decades, as used vehicle prices spiked the most ever.
Funny how that works when gasoline prices spike.
Buyers’ revolt, sales plunge 19%. But dealers, sitting on high-priced inventory, resist price cuts, which would boost sales.
The Japanese people are not amused.
A red-hot question in our iffy times.
Sales at the Top are strong. Bottom falls out in rest of market. “Rising interest rates and higher home prices depressed housing demand.”
Not a revenue-shocker (they were up even from stimulus-miracle a year ago), but a cost-shocker. Unable to pass on all the cost increases, their margins got squeezed.
“Recent stock market volatility” catches some of the blame.
Retail Therapy at Bars & Restaurants, Cannabis Stores, and Ecommerce? Other retailers not so lucky.
Make that $6.55 for regular at my San Francisco gas station from heck.
Commercial Real Estate hit by construction boom, oil bust, pandemic, working from home, now hiring freezes and layoffs. Older office towers dish out huge losses.
In details and charts.
Wolf Richter with Kerry Lutz on the Financial Survival Network.
Margin debt started dropping a month before the Nasdaq went south, and it’s still dropping.
This is now a common phenomenon with these Imploded Stocks.