DHUnplugged Podcast

Markets just don't know how to read the current backdrop - so many crosscurrents. Fed speakers continue to press on with their high hopes for higher rates - walking it back Buyback frenzy coming? Softbank - horrible, simply horrible. PLUS we are now on Spotify and Amazon Music/Podcasts! Click HERE for Show Notes and Links DHUnplugged is now streaming live - with listener chat. Click on link on the right sidebar. Love the Show? Then how about a Donation? Follow John C. Dvorak on Twitter Follow Andrew Horowitz on Twitter Warm Up - 8/8 - Happy Anniversary Mimi! - How You Like a Nice Warm Short Squeeze? ---- Highest Short Interest Getting BID BIGLY | - OLD MEME Stocks on fire - then cool off - Big YUGE moves on last week's picks - Recession? Employment Says: We Ain't Got No Stinking Recession Market Update - Credit Expanding - eating through savings? - Charts making the rounds.... - CPI coming Wednesday, PPI Thursday - Amazon acquiring this company - need delve deep - An interesting acquisition announcement today.. - Layoffs in Techland AND expense cuts Employment - HOT! - 500k+ added to the payrolls. - 3.5% Unemp Rate - Average Hourly Earnings +5% ! Post Employment Numbers - WALK IT BACK - FED parade of backwalkers continue - that is what they are Backward Walkers - Federal Reserve Governor Michelle Bowman said Saturday she supports the central bank's recent big interest rate increases and thinks they are likely to continue until inflation is subdued. -- "My view is that similarly sized increases should be on the table until we see inflation declining in a consistent, meaningful, and lasting way" ---- Very consistent with all of the other Backward-Walking Fed speakers Spending Bill -  Summary: The climate, healthcare and tax bill passed by the U.S. Senate over the weekend could shave corporate earnings slightly and make companies pull forward their share repurchase plans, while giving a boost to some sectors like electric vehicle makers, biofuel and solar energy - The $430 billion Inflation Reduction Act bill would impose a new excise tax on stock buybacks and a minimum 15% tax on corporations. - "The number one thing that stands out is that you're going to see an acceleration of buybacks before the end of this year," said Thomas Hayes, chairman and managing member of New York-based Great Hill Capital. "Companies would rather not pay that tax ... They have this window, and you can be assured they're going to take advantage of it." Pfizer - New Income Source - Pfizer Inc will buy blood disorder drugmaker Global Blood Therapeutics in a $5.4 billion deal, as it looks to boost its pipeline to combat a potential slowdown in COVID product demand that analysts anticipate from falling cases. - GBT makes Oxbryta which was first approved in 2019 to treat sickle cell disease among patients aged 12 years or older. - Sickle Cell Tech layoffs - Several companies have either discussed layoffs or stop hire mandates - Microsoft is asking managers to reduce employee expenses on business travel and outside training, according to WSJ Credit Card Debt - Americans have opened 233 million credit card accounts since April, the largest increase since 2008. - Credit card debt is up 13% since April, the largest increase since 2001. - Total credit card debt is set to cross $1 trillion for the first time ever. - "Is the bubble is expanding?" - The Kobeissi Letter HOT Chart - Everyone is doing these.... - Comparing 2006-2009 to today (markets) Dreaded DJIA Chart Another one.... Another One Berkshire - good and bad - Operating earnings - It marked a 38.8% increase from the same quarter a year ago. - However, the company posted a $53 billion loss on its investments during the quarter. ----- Buffet again asked investors to not focus on the quarterly fluctuations in its equity investments. - - "The amount of investment gains/losses in any given ...