State of the Market (10/13/24)

By Todd Mei PhD | State of the Market | 13 Oct 2024


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The Macro Situation

Todd was in the path of the most recent hurricane in Florida, so we are not going to have our typical macro situation update this week.


The main point, obviously, is that the CPI came in at 2.4%, which is lower than last month and on a sustainable path towards the 2% target, but it is a bit higher than what many were expecting at 2.3%.


We would appear to be in a “goldilocks” situation: declining inflation, increasing liquidity, and a solid economy (at 4.1% unemployment).


Bond ETFs continue to tumble – though I expect we’ve reached the bottom for them (or there about). 


Everything else seems to be doing well – except for the futures on the S&P 500, which remains quite negative through the 15th of this month. In short, don’t expect smooth upward sailing but the broader data do suggest that upward movement will be anticipated.

--Sebastian Purcell, PhD (Todd Mei, PhD is out for the week)

 

AI Sentiment Report

The following sentiment scores use AI to track sectors as leading indicators. (Lesson 4 of The Art of The Bubble covers the selection of lead indicators for bubble trades). The scores are most indicative for the next day of trading (a Monday), but they appear to set the general tone for the next week.

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-The Research Team:

                     Dom Viera, Samantha Russell, Nicole Zinuhova, Michelle Milan

 

 

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Benchmarks and Data Sources

All data not otherwise specified (or obvious from context) is taken from TradingView.com.

The cryptocurrency benchmark used is an equally weighted mix of BTC and ETH. While the benchmark for stocks used is the Nasdaq 100.

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Todd Mei PhD
Todd Mei PhD

Todd is a former Associate Professor of Philosophy with over 16 years of research experience in the philosophy of work and economics. He is currently the lead researcher and writer for the Web3 consultancy group, 1.2 Labs.


State of the Market
State of the Market

Weekly reports on the state of the macroeconomy, stocks, and crypto compiled by the 1.2 Labs Research team.

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