The first time JPMorgan warned of market downside was in early March when the bank's US equity strategist Dubravko Lakos-Bujas wrote that while the fundamental backdrop remains supporting, the "short-term downside risk" in the S&P is increasing. Less than two months later, JPM presented six "red flags" why it is starting to sell stocks.
Authored by Daniel Ruiz via Blinders Off blog,
On May 10, 2017, there were 145,763 new 2016 vehicles unsold.
Today, 2016 new car inventory stands at 112,310.
At the current rate of sale, we will not sell through the new 2016 inventory till the last week of August.
Why this matters
Dealers always focus on selling their oldest vehicles first. This is because the majority of dealers floor plan their inventory.
So... we have another terror attack in London, the biggest geopolitical earthqwuake in the Middle East in years, US macro data is dreadful... and stocks don't budge...
The Russell 2000 Index posted a 2.2% decline in May, its worst month since October, and it appears a large swath of investors is now betting it has further to fall.
As Bloomberg notes, hedge funds and other major speculators have a combined net short position of 73,030 contracts in the small-cap index’s futures, according to the latest data from the Commodity Futures Trading Commission.
Authored by Tsvetana Paraskova via OilPrice.com,
The market expectations for electric vehicle makers are significantly overestimated, Igor Sechin, CEO of Russia’s oil giant Rosneft said on Friday, adding that the evaluation of Tesla is based on “extremely aggressive” sales expectations.
Speaking at the St. Petersburg International Economic Forum, Sechin also criticized Tesla’s business model and capital spending.