Published on: June 14, 2024

NetWorth Radio Advance Report - June 18, 2024

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 June 18, 2024.

Advance Report

Radio Show

Q: How did this week’s disinflationary Consumer Price Index (CPI) and Producer Price Index (PPI) reports correspond to movements in leading technology stocks?
A: This past Thursday, Microsoft, Nvidia, and Apple made new all-time highs along with the Nasdaq Index. Potential in long term Interest Rate reductions increase the value of future earnings and growth using a model of future discounted cash flows. Correspondingly, high Inflation and Federal Reserve interest rate increases during 2022 appeared to exacerbate the decline in tech stocks.


Headline Round Up

*May: Consumer Price Index Inflation Zero for the Month & Producer Price Index Inflation at -0.2% signaling possible Deflation?
*Skyrocketing Auto and Home Insurance Rates! Key factors according to the Editorial Board of the Wall Street Journal (WSJ)!
*Michael Dell Cashing in Record $2.9 Billion of Dell Technologies Sales This Year.
*General Motors (GM) Buying Back More Stock! Total $16 Billion announced so far.
*25% of Executives along with 20% of HR Professionals Hoped Return to Office Mandates Would Make Some Workers Quit.
*Activist Elliot Management Takes 1.9 Billion Stake in Southwest Airlines After Taking Similar Stake in Texas Instruments. Plans a push for leadership changes?
*Apple Intelligence: A Guide to Apple’s “AI-In-Everything” Strategy.
*Canadian Solar Expanding Again in Mesquite! On Track to Be Second Largest Private Employer in Mesquite.
*World Bank Raises Global Growth Forecast on Strong U.S. Growth Expansion.
*International Energy Agency (IEA) Projects Oil Oversupply by 2030?
*German Voters Appear to Sour on Net-Zero Climate Policies in Elections as German Green Party Emerges as Biggest Loser?
*WSJ’s Reporter Andy Kessler: Your Government at Work or “Why politicians and industrial policy will always find ways to execute poorly”.
*Broadcom Soars After Q2 Earnings Beat Estimates and the Annual Sales Forecast Was Increased! Also announced a 10 – 1 stock split for July!
*NextEra Energy, Inc: Artificial Intelligence (AI) Boom Spurs Need for Big City-Scale Data Centers.
*Andrew Left, Owner of Citron Research, Closes Bold GameStop Short as Company Announced $2.1 Billion Stock Sale. What will GameStop do with $4 Billion in cash?
*U.S. Copper Giant, Freeport-McMoRan, Inc., Says it Can Unlock the Equivalent of a Large New Mine’s Worth of Production From Its Existing Assets by Applying New Processing Technology.
*PIMCO Warns of More U.S. Regional Bank Failures Due to a “Very High” Concentration of Troubled Commercial Real Estate Loans on Their Books.
Mergers and Acquisitions
*Dallas Based Matador Resources Co. to Buy $1.9 Billion in Permian Assets from EnCap Investments, LP.
*Shell Said to be Frontrunner in Bidding for Assets of Trading Firm Pavilion Energy Pte. Owner of Pavilion, Temasek Holdings Pte, seeking at least a $2 Billion valuation!


Dow Jones Industrial Average Index (12/29/2023 – 06/14/2024)

– Courtesy of Bloomberg LP

U.S. Consumer Price Index – Urban Consumers Month over Month, Seasonally Adjusted (06/14/2021 – 05/31/2024)

– Courtesy of Bloomberg LP

U.S. Producer Price Index – Finished Goods Seasonally Adjusted, Month over Month (06/14/2021 – 05/31/2024)

– Courtesy of Bloomberg LP

Invesco QQQ Trust Series 1 & SPDR S&P 500 Exchange Traded Fund (ETF) Trust (12/29/2023 – 06/14/2024)

– Courtesy of Bloomberg LP

C.B.O.E. 30 Year Treasury Bond Yield Index, 10 Year Treasury Note Yield Index & Short-Term Interest Rate Index (06/16/2019 – 06/14/2024)

– Courtesy of Bloomberg LP

Broadcom, Inc. (12/29/2023 – 06/14/2024)

– Courtesy of Bloomberg LP

GameStop Corp. (12/26/2023 – 06/14/2024)

– Courtesy of Bloomberg LP


Research Round Up!

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*Cohen and Steers: Expectations for the Decade Ahead.
*AllianceBernstein: AI Driven Spending Boom and Supercycle
*Recurrent Midstream White Paper: Record Cash Flow Surpluses

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