Stock market closes with yet another red day. The market’s worst first half in 50 years. This is definitely something to be worried about and not just general FUD. Feds are determined to get inflation numbers down, however, the persistent inflation is here to stay at least for the short term. War in Ukraine is never ending or so it seems. Oil prices inched up again today.
13 states are working on giving stimulus payment. This is so wrong in my opinion in so many ways. Federally the government is trying to get in control of the inflation, however, state government is going to make it very difficult. I truly don’t understand what is the point of all this. . Giving stimulus payment is not that black/white as it appears. It may appear the extra money will help the one that needs it, however, effects of inflation is invisible. For example, a household that makes 50,000 is allowed a stimulus payment of $1,000. But if inflation stays at 6 percent, then the house hold looses 3,000 of the actual buying power. Yielding a loss of 2,000 at the end. Fed’s preferred inflation measure rose 4.7% in May, around multi-decade highs (link to article below)
TSLA continues its path to downward. GM, Ford rising, Tesla falling in EV ‘car wars’ in U.S., Bank of America analyst says. (link to article below). It has been a nasty year for Tesla for sure. Regardless of massive positive news the company stock price is taking heavy hit. The share holders were just requested their vote on the 1-3 stock split. I can imagine, most stock holders will vote positive on the proposal. The stock is the last resort where Tesla stocks may see some massive upward trend.
At the time of writing this post all indices futures are in red territory for tomorrow 7/1/2022
- Be prepared for recession that is now in my opinion inevitable.
- Timing the market is nearly impossible!
- S&P 500 posts worst first half since 1970, Nasdaq falls more than 1% to end the quarter
- GM, Ford rising, Tesla falling in EV ‘car wars’ in U.S., Bank of America analyst says
- Fed’s preferred inflation measure rose 4.7% in May, around multi-decade highs
- The market’s worst first half in 50 years has all come down to one thing