Author Archives: Michael Murphy

Dear New World Investor: The headline February Consumer Price Index was +3.2% year-over-year. a skotch higher than the +3.1% expected and the +3.1% in January. The lagging shelter component accounted for about two-thirds of the increase. The month-over-month CPI was +0.4%, right on the consensus but a tenth above...

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Dear New World Investor: Stocks hit new highs as Chairman Powell told Congress the central bank is in no hurry to ease policy, though he said rate cuts are likely to come this year. I’m still doubtful, although I think a mild recession will start this year. It takes...

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Dear New World Investor: Scotland Yard detective Gregory: “Is there any other point to which you would wish to draw my attention?” Sherlock Holmes: “To the curious incident of the dog in the night-time.” Gregory: “The dog did nothing in the night-time.” Holmes: ”That was the curious incident.”   –...

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Dear New World Investor: As I expected, Nvidia (NVDA) reported a strong January quarter after the close yesterday and guided the April quarter above estimates. The stock was up $110.66 or 16.4% today to new record highs as Wall Street fell all over themselves to raise their ratings and...

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Dear New World Investor: Rents were high a year ago, so the S&P 500 fell 68 points on Tuesday after the Consumer Price Index for January was announced. If that doesn’t make any sense to you, this is how Wall Street shakes out the weak hands so they can...

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Dear New World Investor: New Recommendation: Vermilion Energy (VET) – See below under Oil Last Friday, stocks rallied sharply after December payroll additions were revised up from +216,000 to +333,000. We learned that the US added another 353,000 jobs in January, the most since January 2023, nearly twice the...

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Dear New World Investor: New email delivery rules from Google and others go into effect today. If you didn’t get the usual email saying this issue is posted, that’s why. I’ve wasted spent hours working to comply with their constantly changing rules, despite never in the history of NWI...

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Dear New World Investor: The final Atlanta Fed’s GDPNow model estimate for December quarter real Gross Domestic Product (GDP) was +2.4%, stronger than the Blue Chip economists’ consensus for +1.5%. The first government announcement this morning was an even stronger +3.3%. September quarter GDP was revised down to +4.9%,...

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Dear New World Investor: So December retail sales were up 0.6% and that was enough for the market to fear the bogeyman…err, Chairman Powell…might not cut rates as soon as they thought. So down went stocks yesterday. Well, duh. It’s important for you to know that my economic outlook...

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