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On today’s show, we discuss:
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Charts:
Tweets:
“This is what a soft landing feels like,” says JPMorgan’s Camporeale on @CNBC — who adds they have cut their recession odds from 40% last year to 25%.@SquawkStreet $SPX
— Carl Quintanilla (@carlquintanilla) June 27, 2023
Today starts a series of highly focused on PMI surveys that offer no actual information value.
S&P Global PMI and ISM surveys have been unrelated to actual measured activity for years now in the US. Its a waste of time to focus on them.
The *best* is below. Missed rebound: pic.twitter.com/WV6C9f6uBw
— Bob Elliott (@BobEUnlimited) June 23, 2023
“We estimate that AI-driven surprises led to a 3-4% increase in S&P 500 EPS this year” –SocGen pic.twitter.com/jUwZLmyRNT
— Gunjan Banerji (@GunjanJS) June 26, 2023
Ian Cassel:
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