Nonfarm Payrolls report showed 339k jobs added vs 195k est, while the prior two-months saw revisions of +93k as well. Unemployment rate went up from 3.4% to 3.7% (household survey showed decline of 310k in employment). Market sees this as hawkish initially. pic.twitter.com/worLKdpSnV
— Liz Young (@LizYoungStrat) June 2, 2023
NVDIA temporarily became the 1st trillion-dollar company in terms of market cap from the chip sector fueled by AI Boom. Is this a bubble or is it really different this time only time will tell. NVDIA posted non-GAAP EPS of $1.09, beating street estimates by $0.17. Trading at 40x – 50x multiple it’s still considered as cheap by many analysts. As Buffett said, “Price is what you pay value is what you get”. The euphoria around NVDIA AI BOOM is far from fading.
An interesting chart by @charliebilello. Great strategist if you are not following, please do follow. NVDIA trading at 38x Sales and 200x earnings.
According to the case-shiller index home prices have retreated in the past few months after growing to record high between 2012 – 2022. Prices fell 1.2 percent from the previous year. They have fallen 7.5 percent since last June, when they peaked, but increased from February to March.
According to Storagecafe, Houston followed by San Antonio is the most coveted Real Estate development market. The list also includes Austin, Dallas & Fort Worth. The city of Houston registered the largest number of single-family homes being permitted from 2013 to 2022, around 55,600 units, with 2021 and 2022 the best years of the decade for residential construction.
The other cites outside of Texas that had a vibrant real estate market in the last part of decade were Phoenix at # 6 followed by Jacksonville Florida at #7 , Las vegas, NV at # 8
Home Sellers have started reducing their prices as the housing
market cools off.
Home Sellers have started reducing their prices as the housing
market cools off.
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