Published on: November 17, 2023

NetWorth Radio Advance Report - November 20, 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

Advance Report

Radio Show

Q:  What was the rate of U.S. inflation for October?
A:  According to the Bureau of Labor Statistics, The Consumer Price Index for All Urban Consumers (CPI-U) was unchanged in October on seasonally adjusted basis or Zero.
Q:  Has the outlook on U.S. interest rates changed significantly?
A:  UBS believes the Federal Reserve will replace the current “Higher for Longer” rates with dramatic interest rate cuts in 2024. The Dow Jones Industrial Average topped 35,000 for the first time in 19 months.
Q:  Who gets the first year-end McGowanGroup Bozo Award and the first Sir John Templeton Award for 2023?
A:  James Paulsen, Chief Investment Strategist at Leuthold, Predicted the S&P 500 Index could rise to 5000 in 2023 which is now about 4500.  Mike Wilson, Morgan Stanley’s Chief Equity Strategist, predicted large declines in the equity markets and a large drop in company earnings for 2023.


Headline Round Up

*Goldman Sees 31% Return for Energy Over the Next 12 Months.
*Energy Information Administration (EIA): Liquified Natural Gas (LNG) Export Capacity Likely to More Than Double Through 2027.
*David Einhorn’s Greenlight Capital Hedge Fund Wins Big with Crude Oil Play.
*Macy’s Spikes 10% on Beating Q3 Earnings Estimates While Target Spikes 18%.
*U.S. Postal Service Reports $6.5 Billion Net Loss for the Next 12 Months Ending Sept. 30, 2024.
*North Texas Boom: DFW Second Busiest Airport in the World in 2022, By Passenger Traffic, is Adding 24 Gates Increasing Capacity by 15% Over the Next Six Years.
*Lucid Loses $227,000 Per Car in Q3!? Cheaper just to give the buyer TWO Ford F-150’s?
*Stellantis Offers Buyouts to Half of its White-Collar Workers.
*U.S. Auto Manufacturing Falls 10%.
*Cathie Wood, Head of ARK Investment Management, Predicts Deflation?
*Retail Deflation: Walmart Fell 7% Thursday After Predicting Discounting Ahead. Chief Financial Officer John David Rainey states, “The takeaway for us is that we’re seeing strength, we’re seeing share gains versus others, but there is still pressure on the consumer”.
*Germany Bailing Out Siemens Over Wind Turbine Division Losses.
*Ed Yardeni, President of Yardeni Research, Predicts 4600 S&P 500 Index by Year’s End.
*Texas Leads Employer’s Back to Office Charge.
*Median Home Price in North Texas Back Below $400,000 in October.


Profit Report

1. This Week’s Research Round Up
2. Potential Bond Strategies for Investors
3. 2024 Probable Outcomes for the Financial Markets


U.S. Consumer Price Index – Urban Consumers, Month over Month Seasonally Adjusted (10/31/2021 – 10/31/2023)

– Courtesy of Bloomberg LP

U.S. Consumer Price Index – Urban Consumers, Year over Year Non Seasonally Adjusted (10/31/2021 – 10/31/2023)

– Courtesy of Bloomberg LP

Dow Jones Industrial Average Index (11/17/2021 – 11/17/2023)

– Courtesy of Bloomberg LP

U.S. Producer Price Index – Finished Goods, Seasonally Adjusted Month over Month (10/31/2021 – 10/31/2023)

– Courtesy of Bloomberg LP

Standard & Poor’s 500 Index – Quarterly Earnings Analysis By Sector (08/16/2023 – 11/15/2023)

– Courtesy of Bloomberg LP

Evolution of Atlanta Fed GDPNow Real GDP Estimate for Q4 2023 (11/17/2023) 

– Courtesy of The Atlanta Federal Reserve

Microsoft Corp. (11/17/2021 – 11/17/2023)

– Courtesy of Bloomberg LP


Research Round Up!

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*Nuveen: Convexity, The Power of Bond Discounts Convexity!
*PIMCO: October CPI Market Reaction
*PIMCO: Prime Time for Bonds
*Recurrent Midstream White Paper: Record Cash Flow Surpluses.

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