FROM THIS MORNINGS SQUAWK BOXAt a crossroads Wall Street economists think the U.S. economy could be looking at a more pronounced slowdown ahead. The U.S. Commerce Department will release its fourth-quarter
gross domestic product report Thursday morning, and the analyst consensus is that it grew at a 2% seasonally adjusted annualized pace. That would be down from 4.9% in the third quarter and would be the lowest reading since the second quarter of 2022 saw a 0.6% decline. Nonetheless, Wall Street may soon turn its attention to what that means for 2024 growth prospects. As investors digest the fourth-quarter report, two items will come into focus: where we are with
consumer spending and
inflation.
This will impact rates going forward. If its good economy news, rates stay higher longer which means commodity prices stay lower with the higher USD. Higher rates are supposed to slow things a bit. Lower commodity prices will impact Sherritts bottom line. Rate cuts that everyone is predicting has pushed markets way up out of proportion to reality. I still believe the end is nigh as the pin gets closer and closer to the bubble. Raise cash, payoff debt. Don't be like sherritt who's doing the opposite.
Great job Binedell.