| | | MAY 13, 2021 Welcome to the Stock Dork Cheat Sheet; your go-to guide for all the most important stock market news and analysis. Today is Thursday, May 13. Let's get ready for the trading week! |
| Good morning! It's been a rough week for U.S. stocks with major indices stumbling for sharp losses. Yesterday,the Dow, S&P 500, and Nasdaq all lost more than 2.0% on the day. Tech stocks were the biggest losers as the Nasdaq tumbled 2.7%. Small-cap stocks also got punished as the Russell 2000 lost 3.3% on the day. Building Inflation If you read the Cheat Sheet, you know we've been warning you about inflation for months. Well, it's finally here, but the scary thing is no one seems to scare. The consumer price index (CPI) increased by 4.2% in the 12-month period ending with April, marking a 13-year high. The jump was fueled by major increases in the price of consumer goods. Here are the highlights: Energy costs spiked 25.1% year-over-year (YoY). Gasoline prices are up 49.6% YoY Used car and trucks soared 10% in April; up 47.9% YoY "Food at Home" jumped 2.6% in April Despite the startling numbers, the Federal Reserve says this is fine. Actual photos of Federal Reserve official reacting to April's CPI report Federal Reserve Vice Chairman Richard Clarida's prepared remarks for an upcoming speech say the following: âReadings on inflation on a year-over-year basis have recently increased and are likely to rise somewhat further before moderating later this year. I expect inflation to return toâor perhaps run somewhat aboveâour 2 percent longer-run goal in 2022 and 2023.â Other comments from Fed officials are similar. We "expect" it to cool off. But, they don't explain why, and the idea seems counterintuitive to basic economics. But, they're the pros, right? We'll find out soon enough, one way or the other... |
| Alibaba (BABA) BMO Walt Disney (DIS) AMC Aurora Cannabis (ACB) AMC Airbnb (APRN) BMO Plug Power (PLUG) Hoya Corp (HOCPY) Fri |
| Thursday, May 13 Weekly Jobless Claims ... 8:30a Friday, May 14 Retail Sales [Apr.] ... 8:30a Industrial Production [Apr.] ... 9:15a Consumer Sentiment [May] ... 10a |
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