The Weekend Rip: Lean Hogs and Lean Pricing

Good evening everyone. The week ahead should see a lot of action as over 800 public companies report earnings in the US. Among them, we’ll get Amazon, Tesla, McDonald’s, AMD, Visa, Facebook, Microsoft, Google, Merck and lots of others. See below for more.

As an aside, we will never use the name Alphabet for Google. Whatever…

2880 is a level with memory in the S&P 500. This was where the China tariff thing began back in February 2018. We’re almost there now. the market has been going sideways for almost two weeks, and the VIX managed to close the week below 40 for the second time in a row.

Something’s gonna give but when? We have no idea.

Here’s the weekly S&P 500 chart. Have a great week y’all…

S&P 5002,836-1.32%
Russell 20001,052+0.32%
Dow Jones23,775-1.93%
Weekly percent changes 

Lean Hogs and Lean Pricing

Despite the stuff we are hearing about food getting destroyed and supply chain problems, the prices of everything from grains to livestock are getting sold. 

Here’s a chart of lean hog futures. 🐖 are down 28% YTD. 

This is the chart of corn futures. Oof…

This was the cover story for the Wall Street Journal this morning: Coronavirus Forces Farmers to Destroy Their Crops

And here’s a photo of potatoes being tossed in Idaho. 

This is sad to see.

Oil & Markets

Los Angeles, 2020

Sunday Links

Party At The Golden Moon Tower

‘The Last Dance’ Episodes 3 and 4

Canada Goose Is Making Changes

Stocktwits Top 25 – Week 17

Post Malone Concert at Home with All Nirvana Covers

Millions of Credit-Card Customers Can’t Pay Their Bills. Lenders Are Bracing for Impact.

Pork Farmers Are in a Bad Place

The Week Ahead 

And now a brief and well-organized look ahead at the trading week beginning Monday, April 26, 2020:

Economic Calendar:

4/28 April Consumer Confidence (10 AM EST)
4/29 FOMC Rate Decision (2:00 PM EST)
4/30 March Personal Income and Spending Numbers (8:30 AM EST)
4/30 April ISM Manufacturing Index (10 AM EST)

Here’s the full Economic Calendar provided by Briefing

Earnings Ahead:

Here’s Earnings Whispers’ great visual.

Be sure to know when your stocks are reporting. Here’s the full earnings calendar.