The headline PCE figure showed a modest month-over-month increase of 0.1%, while rising by 2.2% year-over-year. Core PCE, which excludes volatile food and energy costs, increased by 2.7% compared to the same period last year.and that was coming after an acceleration in inflation in the first quarter. So I think Fed officials are pretty feeling pretty good about where inflation is sitting,” Wilding tells Yahoo Finance.
Costco also announcing a membership price increase earlier this month for the first time in seven years, we will see the impact of that hike reflected in next quarter's earnings. We also know that fed Governor Michelle Bowman is particularly concerned about high core inflation and Atlanta fed President Raphael Bostic has also lingering concerns about inflation which has caused him to look at a slower rate cut path.All right, Jennifer, thanks so much as always appreciate it.
So if you look at the vacancies to employed ratio, you know, even obviously the unemployment rate, uh it is, it is looser. You know, obviously earlier this month, we had uh you know, a preliminary revision which suggested that there are 800 fewer jobs created in 2023 than we thought previously still according to the establishment survey, about 2 million jobs created over that year, you know, and, and separately, you know, we have broader revisions to the growth statistics which, which really suggests the US economy has been humming along.
So we think we are starting to see that that's one of the reasons why you've seen a step down in the labor market data and it suggests to us that we're going to continue to see some weak prints here until we get more clarity after the election.
Now, what I would say is that post pandemic, um just looking at the economic performance in the US versus other countries, you know, I think there, there's some pretty encouraging news there, the US has come out of the pandemic with investment trends that have been stronger than our developed market peers and productivity growth that's been much stronger uh you know, than other developed markets.
They're still doing lots of things very well, but they're not necessarily accelerating and when you have a valuation as high as 55 times on pe you kind of need to continue to accelerate that when you start to maybe stall even at wonderful levels.Is the valuation issue idiosyncratic to Costco or is it about consumer discretionary overall, which has been the biggest gain or sector wise for the month.Uh So Costco carries the highest multiple in, in any of my coverage.
They, they say their membership age continues to fall, right, the age of their members and that that's a wonderful long term sign for gaining share and, and to be clear, they're absolutely, I mean, their comparable store sales are nearly 7%.Talk to me about your bull case for Walmart.Uh Walmart is compete, competing on convenience for the first time in a long time.They had the same 5000 ish stores and they were as convenient as they ever were going to be.
Hey, Kiko, hey there, sh those gains we saw this week marked the biggest single week again in nearly 16 years.And then over in Hong Kong, we saw the Hang saying index up nearly 13% for the week for most certainly. It was Chinese leadership saying that China would deploy in their words, the necessary spending to reach its stated growth target of 5% calling for the forceful implementation of policy and then they also committed to taking action to make the property sector stop declining, which has been the biggest laggard on the economy.
Of course, the question guys moving forward is going to be what exactly this forceful spending is going to look like those, those specifics not necessarily provided by the Chinese leadership this week. So the fact that this medication does not come with the black label, uh black box warning label, which if you're not familiar with that label is one that indicates a serious safety risk or other side effects.Significant positive for Bristol Myers and the and the stock moving forward.
And because of this period of secular decline, analysts have said it's clear a murder should happen and it should be cleared by regulators. And that is, that is a 42nd 1 this year pointed out by Ryan Dietrich over at Carson group 42nd all time high for the S and P 500 Eastern religions such as Buddhism and Hinduism believe that people reached Nirvana at age 42.I am watching the dollar versus the yen and that has been sinking a little bit.This was, this is something that's caused consternation in the markets as we know, in months past yen maged in as I was calling, it had to do with lower, lower prints on this particular cross.
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