Dario Magnani
10.7K posts
@DarMagnani
Chemist turned investor, psychologist turned photographer & designer. Coffee lover, tech addicted, architecture fanatic. Not in this order, except coffee first.
The loading-the-dishwasher struggle is real. Even—or especially—for the $20,000 1X Neo humanoid home robot. 🔗: on.wsj.com/4nFx8uM
Big jump: July PPI #inflation +3.3% y/y vs. +2.5% est. & +2.3% prior … ex-food and energy PPI +3.7% vs. +3% est. & +2.6% prior
In m/m terms, PPI and core PPI saw their largest jumps in July since March 2022
BREAKING: There are some Wall Street traders (not a lot, but a few) who believe Trump is poised to cut a deal with China pretty quickly. Their logic: The Chinese economy is (if the reports are accurate) weak to crashing. It's resorting increasingly to currency manipulation to weaken the yuan in order to keep its massive trade surplus. It needs access to US markets. Meanwhile, Trump wants @BlackRock to buy CK Hutchison, and he really wants the US to control @tiktok_us. As I have reported, both were throttled by the trade mess, and both need approval from President Xi. Trump also wants access to China in a more advantageous way for US companies. Progress on the China front and you get a 5% rally in markets, they believe. For the record, stuff like this is always easier said than done, but I'm just a simple country reporter. Story developing
Market-based probability the Fed will cut rates at the next (May) meeting have jumped from 10% yesterday to more than 30% today per @CMEGroup Fed Watch Tool
Market-based probability the Fed will cut rates at the next (May) meeting have jumped from 10% yesterday to more than 30% today per @CMEGroup Fed Watch Tool
Another relative ouch: March ISM Services at 50.8 vs. 52.9 est. & 53.5 prior; new orders fell to 50.4 vs. 52.2 prior; prices paid down to 60.9 vs. 62.6; business activity rose to 55.9 from 54.4; employment dropped to 46.2, lowest since December 2023
Just figured out where these fake tariff rates come from. They didn't actually calculate tariff rates + non-tariff barriers, as they say they did. Instead, for every country, they just took our trade deficit with that country and divided it by the country's exports to us. So we have a $17.9 billion trade deficit with Indonesia. Its exports to us are $28 billion. $17.9/$28 = 64%, which Trump claims is the tariff rate Indonesia charges us. What extraordinary nonsense this is.
