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Business

A "rude appetite" for stocks can destroy this adventure, the strategist warns




Apparently, shares may also fall in 2019.

If you need proof, S & P 500

SPX, -0.21%

Dow

DJIA, -0.09%

and Nasdaq

COMP, -0.18%

showed it last week with all three in red for five consecutive days, which has not happened since 201[ads1]6.

So much for the big crack of December lows?

Of course, nobody – well, with some bearish, and increasingly desperate, exceptions – is really just pressing the panic button. The market has proved to be far too robust to be thrown away for a few days.

But Michael Wilson, Morgan Stanley's top US stock register, thinks investors can again buy into Goldilock's story: the economy isn't too hot, and it's not too cold. Hi new heights for stocks and tighter spreads for credit.

Not so fast.

"What if growth isn't" exactly "and Goldilocks is the wrong adventure?" He wrote in a note to clients. "I see other reasons for the decline in growth that have been underappreciated by most market analysts."

Among them, he pointed to corporate capex and buybacks to get a significant increase from tax cuts and repatriation of foreign cash – one-off improvements. Also, Wilson said higher wage costs and logistics "definitely start to bite."

Then there is of course Friday's disappointing job report, which recorded the smallest gain in new jobs since September 2017.

"Instead of Goldilocks," explained Wilson in our day call "maybe we to talk about Hansel and Gretel – an adventure about the dangers of a rude appetite as a means of survival – that is, hunting for higher prices and justifying it with the wrong story. "

Not much in the way of rising prices to hunt higher This morning, with the Dow seat being hit by a big drop in Boeing this morning.

Market

Futures on the Dow

YMH9, -0.77%

is sharply down, while S & P 500

ESH9, + 0.25%

and Nasdaq

NQH9, + 0.46%

is modestly higher. gold Prices

GCJ9, -0.20%

is also lower. crude oil

CLJ9, + 1.03%

gives a splash of green in the difficult hours. Europe shares

SXXP, + 0.25%

is not a little early in the session, while Asia

ADOW, + 0.74%

returned some gains on a mainly mixed trading day.

Buzz

Renewed security questions about the latest version of Boeing

BA, + 0.00%

737 pops up after a devastating Ethiopian Airlines crash Sunday killed all 157 people on board. China's Aviation Authority ordered temporary grounding of all Boeing 737 Max 8 aircraft that were flown after the accident. Dow heavyweight is down 8% in the premarket, with Southwest

LUV, -1.26%

and American

AAL, -0.96%

other 737 Max 8 customers, also down. Southwest said in a statement that it is in contact with Boeing and has confidence in its fleet by air.

But it seems that some flyers do not feel that easy this morning.

The Federal Reserve mayor Jerome Powell became a cheerleader for the economy in an "60 minutes" interview on Sunday. "We've seen a bit of lowering, but still on high levels, in the US economy this year," he said. "I want to say that there is no reason why this economy cannot continue to expand." A weak retail trade in December and a slight increase in jobs reported on Friday have raised concerns that the slowdown may be more serious than the central bank now expects. [19659002] Tesla

TSLA, + 2.73%

shares point higher after the company has relied a bit on a promise to reduce prices on all their cars and move sales online. The electric car manufacturer said it would probably hold significantly more physical stores open, which would halve the savings it had hoped to transfer to customers.

Levi Strauss has priced his IPO and says it will offer 36.7 million shares for $ 14 to $ 16 each.

In agreement news, Nvidia

NVDA, + 0.92%

says it will buy over Israeli server and storage company Mellanox

MLNX, + 0.04%

in a deal valued at $ 6.9 billion.

Worried about robots taking your job? Don't be, according to Rep. Alexandria Ocasio-Cortez. "We shouldn't be haunted by the spectrum of being automated out of work … we should be thrilled with it," she said in Austin, Tex. Over the weekend. "But the reason we're not excited about it is because we live in a society where if you don't have a job, you are left to die. And that's basically our problem."

The chart

The visual capitalist shattered data from the latest edition of the Knight Frank Wealth Report to come up with this map of where the rich roam. From 2018, a total of 198,342 ultra high net worth people with assets over $ 30 million are sprinkled worldwide. Here you will find them:


State

More than 17 million – That's how many young Americans have joined Facebook

FB, + 0.28%

over the last two years over the data security scandals, according to a report by market research firm Edison Research cited in the Daily Mail.

The quote

"At the restaurant tonight, the waitress asks if we want straw. Says she has to ask now for fear of" THE STRAW POLICE. "Welcome to socialism in California!" – California Republican Devin Nunes, in a tweet Saturday night.

The economy

The retail figures roll in at 8: 30 o'clock is East, with the consensus calling no change from a year ago. At 10:00 the state's employment and unemployment report will be released. Other highlights this week included the CPI for February on Tuesday and new home sales on Thursday.

Read: After a deluge of bad news, there is now a pending game to see if the US economy returns

Random reader

Tucker Carlson offers some very dubious comments.

This really is a disastrous appearance for Erik Prince. There is also a lesson in the house. Several journalists will conduct interviews.

Miss, please, don't try to sit with the jaguar.

Older people die before they come to read Mueller's report and they are apparently not at all happy about it.

The Pennsylvania man claims to have R. Kelly tapes.

This guy made a murder of the peace team after the Trump-Kim Summit.

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