US Economy Slowly Recovers – Closing Bull July 30th, 2021
Quick Summary:
This week’s blog post focuses on the US economy’s slow recovery, Biden spending trillions on the infrastructure, big companies quarterly sales growth, and I’ve launched a new campaign called the My Million Challenge!
Key News This Week:
Market recap
US economy slowly recovers
Biden spends trillions
Big-name companies quarterly sales growth
My Million Challenge campaign
Read the Transcript
Hi, welcome to my financial markets recap for the week, it’s John Bannan here from comhlatech.com.
I wasn’t able to make the video last week, So back after a couple of weeks back in the seat. So what happened this week? Well, before we get to what happened in the news, what happened with the system? Well, we had a small trade at the beginning of this week, about a small loss, unfortunately, we had to get out in the market top-down the top six. And so we had to get out shortly after that. But really delighted to see the market tanking overnight last night, that’s exactly what we want as we head into a new forecast. So things are lining up pretty well and expecting good things from this on from next week. So we shall see. But certainly, things are lining up really well for August, and I’m pretty excited for what’s gonna come down the pipe. So I’m expecting over the next couple of trades come forecast, we’ll have to see a new equity peak in the accounts. So that’s my expectation. And as I say, things are lining up pretty good, though. So that’s the update on the system.
What’s happening with the news this week? Well, I mean, it was fed week, this week, nothing changed, but the Fed came out and they had the meeting and the press conference. And you know, obviously very, very careful in the wording of what they put out there and how they talk about it because, you know, it’s a lot of power they have in their words, you know, and they have a lot of power and if they say the wrong thing, intimates the wrong thing, then the market can really crash. So we’ve seen many things in the past. So they’re very careful right now. They want to see the market recovering the economy recovering. So very, very cautious in their wording. So nothing changed, no changes. And that was also the Fed that was really a non-event.
The GDP came out this week, US economy grew at 6.5%, which is actually slower than expected. But consumer spending is up 11.8% annually, which is the second biggest growth rate since 1952. So obviously, that’s pretty good news for the economy. And we’re starting to see that in the earnings too. You know, and the lockdowns are essentially we certainly hope behind us, the big tech streak is hotter than ever, which you know, you wouldn’t think because of that they would really benefit from the lockdowns. But despite the reopenings you know, these online giants are really, really doing well. So we had record quarterly earnings from Microsoft. We had another cloud, the cloud computing, in particular, has gone crazy. Google had its fastest quarterly sales growth ever, in more than 14 years. I mean, this is just insane, right? cloud revenues soared 54% because that is the new oil as they say right cloud? And Apple posted its third-best quarter in its 45-year history. So you know, really incredible earnings coming up with tech names. And Amazon, you know, not last but not least, posted its third as consecutive 100 billion-dollar quarter. You know, that’s now with Jeff Bezos no longer at the helm, because he’s obviously the world’s certainly one of the world’s newest astronauts. And he’s focusing his attention on that side of things. So there was the first quarter Amazon had and they seem to be doing okay. There were grumblings about their sales forecast not reaching expectations. But that’s just our expectations are overseas, knocking it out of the park. MasterCard did 4.5 billion in revenue, so they were up. People are starting to spend money on restaurants and going and traveling and food and clothes again. So that’s been good for MasterCard, and good for the banks, obviously. And Facebook sales jumped 56% not really sure why, but this crazy 56% growth in their sales, meaning I guess more people are advertising online because you can’t really do live events as much. So it’s all about marketing online, I guess, right? So that’s maybe why that’s up so much. And another notable one was Puma. Its North American sales nearly tripled last quarter, because of the activewear people are not spending as much money on suits and things they cannot spend as much time in the office, obviously, so much more casual wear is becoming the thing, right? So they’re doing particularly well, I mean, for the triple is amazing, right? And, you know, in terms of like, not going to the office, I mean Google came out this weekend and said that it’s going to be October before they’re really going to be pushing for people to come back to the office. So and, and they’re saying you have to be vaccinated. So that’ll be interesting to see how that pans out. They’re not alone in terms of you know, saying that to their employees and it’s starting to go across the board now so, interesting developments.
In government news the big thing this week is all about this bipartisan thing for restructuring for the infrastructure that Biden wants to Push through for the roads and the hospitals and the skills and all these other trillion dollars he wants to spend on that stuff. So, you know, this is a massive boom that’s happening in the US in terms of this bending that’s going on, where will it end and probably will end badly. But there’s a lot of money sloshing around and it’s not going to stop anytime soon. So you know, we’re expecting about a swim in the fall, possibly the end of August. But until then, you know, there’s so much money going around, and we will probably continue seeing all-time highs over the next, you know, a number of weeks anyway, at least before we see any kind of collective behavior in the market.
Lastly, I wanted to mention one thing, we have launched a new campaign and it is called my million challenge. And it is starting this weekend. Anne Marie and I at Comhlatech, she is the CEO at Comhlatech and I’m the Chief Investment Officer. And she and I are married, we’re a couple and we have a 16-year-old son Aiden and we started this program with him to get $1,000 to hopefully turn it into a million dollars within 10 years. So that’s the plan, sounds pretty crazy right? But you know, we believe it’s actually possible, and even if we don’t reach that much in 10 years I’m sure it will do really well because you know, we really believe in what we’re doing here with the system we have. It is a slightly different approach to the approach that we put out there in terms of the main site and what we do here at Comhlatech but you know, there is a special group being put together for some members to look at this challenge and maybe for someone younger because it has a higher risk strategy, but sort of there’s some special coaching there and things like that so you can check that out. It’ll be a Comhlatech.com. It’ll also be on our Facebook page so more details about that coming soon, but we’re really excited about starting this with our son, why not? You know it’s $1,000, it’s not gonna break the bank and if it wins, which obviously we expect it to win, we expect it to do fantastically well. And it’s already off and running and is in profit already. So we’re expecting great things from that. So that’s something we’re really excited about. So if you want to check out that stuff and look more at it then you know, be our guest. Obviously, we’re happy to have other people take on the challenge with us.
So that really is the news for me. It’s time to down tools, it is the weekend. Thanks for watching and bye for now.