The Gulf Separating the US and Iran is Too Wide to Bridge

Jobless Claims Continue To Show No Signs Of Labor Market Stress Initial jobless claims continue to hover near multi-decade lows, refusing to show any signs of labor market stress. Last week saw 212k American file for jobless benefits for the first time (below the 216k expected). Unadjusted claims tumbled to the lowest since September... Source: Bloomberg Michigan and New York saw the largest drop in initial jobless claims last week while Rhode Island and Oklahoma saw the bigger rise in claims... The number of Americans filing for continuing jobless claims also dropped last week...

Solar Stocks Surge As Energy Shock Revives Renewables Trade Goldman analyst Adam Wijaya asked clients whether this year's surge in SolarEdge, Enphase Energy, and other solar stocks is reviving a familiar trade: higher crude oil and natural gas prices in Europe and globally, strengthening the case for renewables as the energy shock sparks a return to coal switching. "Are we back to running the 2022 playbook?" Wijaya asked in a note published Monday. Wijaya said, "Certainly seems that way based on recent px action in residential solar."  "SEDG is +79% YTD vs ENPH...

The Market's Biggest Buyer May Be Disappearing Submitted by QTR's Fringe Finance Yesterday, as part of laying out the two paths I can see the economy taking, I wrote that beneath the surface, the American consumer is tapped out. The average consumer - AKA the "retail investor" - has been a key in driving the stock market higher the past half decade. This morning, I noticed two reports that came out yesterday that add to the conclusion that this "retail investor" looks increasingly broke.  Yesterday The Wall Street Journal highlighted how rising prices and the highest...