PHILADELPHIA—Nationally syndicated host and biblical investing authority Dan Celia discusses the economic data this week.
“The week is going to be all about technology stocks. We saw some pretty big moves in technologies on Tuesday with big tech earnings. That’s very, very good. Microsoft books have had the biggest revenue growth since 2018. Alphabet—Google—revenue grew 34 percent. Yes, 34 percent. The Dow finished up slightly on the day. The SMP was down slightly, and the NASDAQ was down slightly. The Russell 2000 small cap was up barely. And the volatility index was in negative territory.
“Corn hit an eight-year high and it looks like all the commodities, all the grains are doing pretty well. Copper is up dramatically. That should give us some indication of what is happening. How about consumer sentiment index? It was up just a bit, about 20 percent. That is a huge swing, a huge drop that was well over expectations, but here’s the thing: expectations are for negative income growth. How’s that even possible? The two don’t line up. These are more numbers that just don’t correlate.
“Watch Brent crude oil. Brent is up to $66.60. West Texas intermediate is at $63.06, right at the top of the range that it’s been in for the last two weeks. We’ll see what happens tomorrow, but it was positive just slightly. Brent crude oil was up one and a half percent so we’ll continue to watch the energy commodities. There’s so much to watch. It’s hard to know where to even begin, but the Federal Reserve speaks, and all ears will be on Jerome Powell.”
Dan Celia discusses these and other global and economic headlines on his daily, three-hour “Financial Issues” program, heard on more than 660 radio stations and several television networks nationwide, including FISM.TV, viewed on several post-cable television platforms and online.
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