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| |  | | June 21, 2024 | | Daily Notes Dear Leah, Welcome to our end-of-the-week wrapup, where we break down the past week in "Daily Notes." What follows is a brief rundown of each day's notes, so you can quickly stay in the know. You can read each issue in full – including my “Idea of the Day,” Market Health Check, updates on our current model portfolio, and more – at your Innovation Investor subscriber site.
Monday, June 17 - The June Empire State Manufacturing Survey shows that the U.S. economy is reverting to a "Goldilocks" nature.
- The divergence between small cap stocks and Big Tech stocks appears to have widened to a breaking point.
You can read these notes in full here. Tuesday, June 18 - The June New York Fed Services Survey corroborates findings from yesterday's June Empire State Manufacturing Survey that inflation is crashing in June.
- Retail sales rose just 0.1% month-over-month in May, below expectations for a 0.3% rise.
- Auto sales rebound in May, but we aren't convinced that it is time to buy EV stocks yet.
- We have stated before that we believe one of the biggest downstream effects of weight-loss drugs will be a surge in clothing spend, as folks who successfully lose weight look to buy new, smaller clothes.
You can read these notes in full here. Wednesday, June 19 - Investorplace offices and the market closed in observance of Juneteenth.
Thursday, June 20 - Continuing jobless claims spike to nearly their highest level since late 2021.
- Building activity in the housing market is in the midst of a 2008-style crash.
You can read these notes in full here. Friday, June 21 - The S&P Global Composite PMI Report for June showed business activity at a two-year high and price pressures at a five-month low, indicating a strong economy.
- The Conference Board's Leading Economic Index improved from -5.5% to -5.3% in May, suggesting a steady economic recovery from 2022 lows.
- Despite positive economic data, the stock market has been trading sideways, but a surge is expected, particularly in small/mid-cap growth, semiconductor, software, biotech, and consumer stocks with AI exposure.
You can read these notes in full here.
Go to Your Subscriber Site |  | | Luke Lango
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