META plunges ... to near 100 from 400

those who have listened to me in past about FB/META know that it has always been my opinion that this company provides no value whatsoever ... but the point is that even a no value add idea may turn someone into a billionaire for a while ... the company / idea was an outcome of good times (low interest rates) of last 20 years or so ..!

tech showing signs of weakness

both GOOG & MSFT down post earnings ...

growth in cloud is getting cloudy ...!

Rishi Sunak sets history in UK ...

after holding CEO posts in large S&P500 companies in US successfully, the PMs are also chosen from Indian origin .... & that too for a country like UK which is #4 in GDP & has historical significance to India ... all happening within 75 years of independence of India ...

in history, pre- mugal invasions & british raj, India used to be a Golden bird, and she in on its path to get that title gain under the leadership of PM Modi

Liz Truss stepping down ...

On her election, some compared her to Margret Thacher, but the flip flopping on policies turned her tenure really short ... bottom-line, good times are over and hard times are in future... around the world... like it or not ... call it flip flopping, but they are not many choices left besides raising interests

... mortgages are running at 7.2% ... LEI has been down since Feb and housing showing signs of stress ... but OracleWorld and MoneyShow going back to back,  fall is really pleasant in Vegas ...!

rates starting to impact housing as starts decline ..

Housing is where it all begins...

CPI came hot hot hot .. but market swings 7% - first down and then up ..!

CPI        0.4% ... 8.2% (Y-O-Y)

TNX      4.0%

US2Y    4.48%

SPX       3500 .. is this a turning point ..?

PPI 8.5% ... did Fed make a dent or a scratch in inflation so far ..?

Fed funds have gone up from zero to 3%

TNX 3.96%

US2Y 4.3%

30Y mortgage  7+%