Amazon Makes Big Mess Afterhours. Intel Reports Fiasco but Mass-Layoffs Boost Battered Stock. Apple Hangs on Amid “Challenging and Volatile Macroeconomic Backdrop” by Wolf Richter • Oct 27, 2022 • 112 Comments One heck of an earnings season for tech and social media companies so far.
GDP Looked Good, No “Landing” (Soft or Otherwise), But Wasn’t as Good as it Looked due to Reversal of Q1 “Freak Event.” Consumers Still Refused to Throw in the Towel by Wolf Richter • Oct 27, 2022 • 100 Comments And after five months of declines, government consumption and investment rose again.
ECB Starts QT via Loans rather than Bonds, Hikes by 75 bpts, to 1.5%, More Hikes to Come by Wolf Richter • Oct 27, 2022 • 55 Comments To “address unexpected and extraordinary inflation increases,” the ECB starts QT by “recalibrating” TLTRO III, which will further reduce its balance sheet.
Meta Makes Huge Mess Afterhours, Enters my “Imploded Stocks,” after Tech & Social-Media Already Messed up the Day by Wolf Richter • Oct 26, 2022 • 191 Comments Meta shares plunge 19% after hours, for a total plunge of 24% for the day: metaverse woes, online advertising, expenses.
“No Easy Outs to Restoring Price Stability”: Bank of Canada Hikes by 50 bpts to 3.75%, More Hikes to Come, QT to Continue, as “Unsustainable” Home Prices Plunge, GDP “Stalls” by Wolf Richter • Oct 26, 2022 • 98 Comments “Not enough” v. “Too much.”
The Most Splendid Housing Bubbles in America: Biggest Price Drops since Housing Bust 1. Record Plunge in Seattle (-3.9%), Near-Record in San Francisco (-4.3%) & Denver. Drops Spread Across the US by Wolf Richter • Oct 25, 2022 • 209 Comments Big drops in San Diego, Los Angeles, Dallas, Portland, Phoenix, Boston. Prices going down faster than they’d spiked? No way. Oops.
Mortgage Bankers Predict Mortgage Rates to Drop to 5.4% by End of 2023. A Year Ago, They Forecast 4% by Now, but Now We’re at 7%. Wishful Thinking by Crushed Mortgage Lenders? by Wolf Richter • Oct 24, 2022 • 172 Comments This raging inflation will keep dishing up a lot more surprises.
New-Vehicle Inventory Improves, Still Woefully Low. But Full-size Trucks Pile up. Many Fuel-Efficient Models out of Stock by Wolf Richter • Oct 23, 2022 • 117 Comments By brand & segment: Big incentives or interest-rate buydowns for pickups. But many Kia, Toyota, and Honda models essentially out of stock.
The Most Splendid Housing Bubbles in Canada, October Update: Prices Plunge at Fastest Pace on Record by Wolf Richter • Oct 21, 2022 • 140 Comments As the Bank of Canada’s rate hikes and QT goose mortgage rates, some practically funny price spikes are getting unwound very fast.
Margin Debt Is Still Far from Calling a Bottom for Stocks by Wolf Richter • Oct 21, 2022 • 139 Comments It nailed the top last November and it nailed the tops and bottoms going back at least to the 1990s.
