The Woke Street Journal
We are ringing the closing bell on the CBOE on 5/23 for the Brendan Wood Top Gun ETF (BWTG) in Chicago. Cocktail reception to follow. If you are going to be in Chicago and would like to come let me know.
Market
Eventful couple of days to be away. I thought the market would need some pretty good news on inflation to continue moving up, I was wrong. After a brief dip below the 50 day, the S&P has moved up with a vengeance.
Not a lot of data so wouldn’t be surprised to see the overall markets churn around while the real action is beneath the surface.
Something interesting from WMT earnings yesterday…
“Many consumer pocketbooks are still stretched and we see the effect of that in our business mix as they're spending more of their paychecks on non-discretionary categories and less on general merchandise."
"In terms of the consumer, it's been pretty consistent, I think is the best word we would use, consistent spending across income groups. We've had more growth, as we mentioned in the earlier remarks, on the high-end consumer."
The low end consumer being stretched and the high end consumer moving down doesn’t seem bullish on the economy to me.
Speaking of the consumer…
The U.S. Consumer Is Starting to Crack. Why Income Investors Should Worry.-Barron’s
“We’re definitely starting to see additional pockets of stress as the savings cushion people built up during the pandemic is depleted,” says Shannon Saccocia, chief investment officer at NB Private Wealth, the wealth management arm of Neuberger Berman.
Woke Companies
No this is not from the Babylon Bee….
12 Brands That Have Suffered After Going “Woke”-MSN
Not a lot of volume, but does look like a short
Get Ready, Folks. The Victoria’s Secret Runway Show Is Back-Daily Caller
The world-famous lingerie brand ceased their 2019 fashion show after declining ratings and facing ongoing criticism for lacking inclusivity on the runway
Meanwhile….
DEI
Immigration
This ought to be interesting. Netherlands to Create ‘Strictest Migration System Ever’ as Populist Geert Wilders Forms Government-Breitbart
See what happened to this guy. Assassination Attempt: Slovak PM Robert Fico in Serious, But Not Life-Threatening Condition After Marathon Emergency Surgery-Breitbart
Meanwhile…
Watch Live: Congressional Hearing on Unprecedented Surge in Chinese Illegal Immigration-Breitbart
Everything Else
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