Published on: May 26, 2023

NetWorth Radio Advance Report - May 29, 2023

In this NetWorth Radio Advance Report, Spencer McGowan, President of McGowanGroup Asset Management, delivers financial news and intelligence with insights you can act on for May 29, 2023.

Advance Report

Radio Show

Q: What is the real story on the Federal budget squabble and the debt ceiling default debate?
A: Treasury Secretary Janet Yellen did not wind down discretionary spending back in January and has imposed a June default date. The House already passed the Default Prevention Act and a debt ceiling increase bill. The brinkmanship continues.
Q: Is Artificial Intelligence (AI) an oxymoron?
A: Would you like an artificial cheeseburger?
Q: What areas of the equity markets does the McGowanGroup Wealth Management (MGWM) Investment Committee believe to be the most compelling set of bargains for 2024 and beyond?
A: Discounted Global High Yield bonds, Energy Infrastructure, Solar Energy, Applied Technologies, and Medical companies paying dividends.


J.P.Morgan Guide to the Markets 2nd Quarter 2023, pg. 22 (04/30/2023)

Courtesy of J.P.Morgan Asset Management

Dow Jones Industrial Average (12/30/2022 – 05/26/2023)

– Courtesy of Bloomberg LP

U.S. Personal Consumption Expenditure Core Price Index Year over Year (05/26/2021 – 04/30/2023) 

– Courtesy of Bloomberg LP

Federal Funds Target Rate – Upper Bound and S&P 500 Index (05/27/2003 – 05/26/2023)

– Courtesy of Bloomberg LP

Evolution of Atlanta Fed GDPNow Real GDP Estimate for 2023 – Q2 (05/17/2023)

– Courtesy of The Atlanta Federal Reserve

Standard & Poor’s 500 Quarterly Earnings Per Share (03/31/2018 – 12/31/2024)

– Courtesy of Standard & Poor’s and McGowanGroup Asset Management 

U.S. Personal Consumption Expenditure Core Price Index Month over Month (05/31/2021 – 04/30/2023)

– Courtesy of Bloomberg LP


Headline Round Up

*Nvidia Spikes 30% in a Day on AI Technology Frenzy!
*Microsoft, Corp. Now up 35% for 2023.
*The Disturbing Nasdaq 100 Index Rally Pattern Similar to 2000?
*Ultra-Marathon Runner Candice Burt Runs 6400 Miles in 200 Days! Owns Destination Trail Capturing Ultra Events and Gear Sales.
*Venture-Fund Returns Worst in a Decade. Many “Presumably Going to be Written Down to Zero, or Near Zero”.
*U.S. New Home Sales Unexpectedly Rise to One Year High Since March 2022.
*Baird Analyst, Ben Kallo, Upgraded Says Lithium Stock Albemarle, Corp. to Outperform!
*Target Reports Rampant Shoplifting & Organized Crime Has Cost $1.2 Billion in Profits. $700 million profit decline in 2022 and $500 Million so far this year.
*Chevron Corp. Buying PDC Energy, Inc. for $72 per Share or $6.3 Billion. Chevron CEO, Mike Wirth, Open to More Deals.
*Enphase Energy Launches Its Most Powerful Home Battery.
*Money Losing Canopy Growth Spikes on News That They are Entering U.S. Cannabis Market! WHAT?
*Q1 Gross Domestic Product Revised Higher to 1.3%. Q2 Now Forecast at 2.9%.
*Germany in Recession with Second Straight Quarter of Contraction.
*U.S. Business Activity Hits 13 Month High.
*Saudi Arabia’s Energy Minister, Prince Abdulaziz bin Salman, Warns Short Sellers of Oil Futures to “Watch Out!” with Near Record Oil Short Positions on the Books.


Profit Report

Discussion notes on career best and worst investment decisions made by the MGWM Investment Committee members.


Research Round Up!

Investors are invited to improve decision making with a comprehensive tour of global economics, indicators, and actual results.
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*PIMCO: Debt Ceiling Debate!
*Nuveen: Tightening Cycle Over.
*Calamos: Why Bullish on Energy?

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