Good afternoon everyone and welcome back to the saga of 2020.
Two very different versions of America presented this weekend. One from Disney + and one from Mt Rushmore. We’ll see where that one goes.
Meanwhile, the S&P 500 has maintained a 260 point range (3230-2970) for the last 5 weeks. Breakout or breakdown? We’ll see where that one goes too.
Place your bets…
Here’s the weekly chart.
No real notable earnings this week but earnings season kicks off next week with the banks so keep an eye out.
26 Years Ago Today
Jeff Bezos founds Amazon. He’s gonna sell books he says.
Here’s that iconic pic of early days Bezos with a desk made from a door.
More hair, less muscles.
And here’s the $AMZN yearly chart. Silly.
Here’s a great chart from the Economic Policy Institute showing the growth in productivity relative to hourly compensation since 1950.
No wonder the pitchforks are coming out…
Burj Khalifa, Dubai
Yesterday the Burj Khalifa in Dubai was illuminated with the American Flag in celebration of the 4th of July. Breathtaking.
🇺🇸 An American History
🤯 Kanye West Says He’s Running for President, Twitter Explodes
🌙 Celebrate Dark Skies at These 27 National Parks
🛬 Boeing Quietly Pulls Plug on the 747, Closing Era of Jumbo Jets
🏞 The Hikers Who Lied and Broke Laws to Finish the AT This Year
🏜 This Palm Springs Desert Home “Dissolves Barriers” Between Indoors and Out
The Week Ahead
And now a brief and well-organized look ahead at the trading week beginning Monday, July 6, 2020:
7/06 June ISM Non-Manufacturing Index (10:00 AM ET)
7/10 June Producer Price Index (8:30 AM ET)
Here’s the full Economic Calendar provided by Briefing.