For having penciled in three Fed cuts this year, Goldman sure sees a hiring rebound. @mikezaccardi.bsky.social

Americans in the top 1% by wealth — or the top 20% by income — are getting wealthier fastest. (via Goldman) @mikezaccardi.bsky.social

My Big Fat Greek Stock Market Performance. 🇬🇷 @mikezaccardi.bsky.social

* Needham thinks Disney should shutter ABC Network following the Jimmy Kimmel controversy [Not sell. Shutter.] $DIS @mikezaccardi.bsky.social

File this one away for the inevitable, populist backlash to AI data-centers driving up Americans’ utility bills. @mikezaccardi.bsky.social

CONFERENCE BOARD: “.. Widespread weakness among the LEI’s components and a negative growth rate over the past six months triggered the recession signal in August.” @mikezaccardi.bsky.social

“Buybacks (normalized by S&P 500 market cap) have been declining since the February peak.” www.dailychartbook.com/p/761 via @dailychartbook.bsky.social @mikezaccardi.bsky.social

LOL foreign countries are “eating the tariffs” — by charging us more. 🤡 @mikezaccardi.bsky.social

“The top 10% of U.S. households now account for nearly half of all consumer spending, a record high since data collection on this metric began in 1989.” @weisenthal.bsky.social @mikezaccardi.bsky.social

“.. Sherwin-Williams is not immune from these conditions, which have lasted longer and been more impactful than anticipated. .. Unfortunately, customer demand remains soft, and in some areas, it’s getting worse,” Petz said: @mikezaccardi.bsky.social $SHW www.cleveland.com/news/2025/09...

‘4th largest inflow to gold funds on record.‘ www.dailychartbook.com/p/758 via @dailychartbook.bsky.social @mikezaccardi.bsky.social

Historic. @mikezaccardi.bsky.social $GLD

“New tech, big investments, booming productivity…and bursting stock bubbles. Returns of new technology indexes before and after peak enthusiasm.” www.dailychartbook.com/p/756 via @mikezaccardi.bsky.social @dailychartbook.bsky.social

More information about consumer spending among the lower cohort. (via B of A / @mikezaccardi.bsky.social )

We don’t yet know what motivated the person who shot and killed Charlie Kirk, but this kind of despicable violence has no place in our democracy. Michelle and I will be praying for Charlie’s family tonight, especially his wife Erika and their two young children.

That’s crazy. 🥇 @mikezaccardi.bsky.social

B of A’s mention on Friday of Trump’s “price controls” makes some wires. (Welcome back, 1970s.) @mikezaccardi.bsky.social

Highest Number of S&P 500 Earnings Calls Citing “AI” Over The Past 10 Years @mikezaccardi.bsky.social

BofA: ".. we are changing our Fed call to show two 25bp cuts this year, in Sep and Dec." @mikezaccardi.bsky.social

Weird flex for the Nobel prize tbh. @katie0martin.ft.com @mikezaccardi.bsky.social

US stocks vs. rest of the world: worst underperformance since 2009. @mikezaccardi.bsky.social @dailychartbook.bsky.social

* ConocoPhillips says it will reduce workforce by 20-25% @reuters.com @mikezaccardi.bsky.social $COP

> @mikezaccardi.bsky.social 👀

$IWM best month vs $SPY since July 2024 @mikezaccardi.bsky.social

$IWM +7.2% in August, best month since November 2024 @mikezaccardi.bsky.social

Fed gotta cut. 🤡 @mikezaccardi.bsky.social

* Kroger to cut 1,000 Corporate Jobs @bloomberg.com $KR @mikezaccardi.bsky.social

".. summer 2025 US electricity demand is through the roof (and the 5-year range)" @mikezaccardi.bsky.social

The year-to-date performance of $EFA, the ETF tracking MSCI EAFE, is the strongest since its inception. h/t @MikeZaccardi

$PLTR -16% — worst 2-day plunge since August 2022 @mikezaccardi.bsky.social

#NFP 🇺🇸 @mikezaccardi.bsky.social

Yeah that tracks. 🇺🇸 @mikezaccardi.bsky.social

“Unemployment rate among 16-19-year-olds up to 15.2%, higher by 6ppt from the cycle low. 20-24yo 7.9%, a 2ppt bump from a couple years ago.” (via Yardeni) @mikezaccardi.bsky.social yardeni.com/charts/unemp...

For those watching mortgage spreads: @mikezaccardi.bsky.social

GOLDMAN’s Pasquariello: Coming “from someone who has seen some epic ups and downs over the past 26 years, at the very least we should be thankful for how good the getting has recently been.” @mikezaccardi.bsky.social

Another White House talking point, spoiled. 🤡 @mikezaccardi.bsky.social

Year-on-year core PPI: “.. In the last 10 years, only April 2021 had a bigger jump.” @mikezaccardi.bsky.social

As with CPI, .. PPI services not exactly serving as soothing offset. 🤡 @mikezaccardi.bsky.social

B of A: Data-center electricity demand is contributing to the jump in your electric bill — a 5.8% increase in electricity prices year-on-year, more than double the overall CPI increase of 2.7%. @mikezaccardi.bsky.social

$IWM @mikezaccardi.bsky.social

* Fed’s Goolsbee Says Tariffs Are A ‘Stagflationary Shock’ on US Economy @mikezaccardi.bsky.social

@mikezaccardi.bsky.social $XHB

AUGUR: “.. US equities have underperformed the rest of the world by over 10 percentage points year-to-date. This is the worst underperformance since 2009.” @mikezaccardi.bsky.social

FACTSET: “87% Decline in S&P 500 Companies Citing “Recession” on Earnings Calls for Q2 Compared to Q1” (via @mikezaccardi.bsky.social)

The Nifty Twenty. 🇺🇸 @mikezaccardi.bsky.social

Big increase in earnings blowups — and not in a good way. 💥 @mikezaccardi.bsky.social

More restaurant pain: * Sweetgreen down 29% pre-market on last night’s earnings $SG * Wendy’s cuts guidance; down 3% $WEN @mikezaccardi.bsky.social

Shares of one of the largest temp-help firms are down 41% in a year. $KELYA @mikezaccardi.bsky.social

BOOCKVAR: “.. The Baker Hughes crude oil rig count fell for a 14th straight week and by another 5 barrels and by 65 during this time frame to 410. That's the least since mid September 2021. It's growing more likely that US oil production will be down in 2025 y/o/y.” @mikezaccardi.bsky.social

> @mikezaccardi.bsky.social