The Tipping Point

#138: Microsoft's Capital, Peak Pipelines, and Common Sense on Carvana.

What did you miss in this first, abbreviated, trading week of the year? Not a whole lot, to be frank.

In markets, some meme-stocks meme’d but the indices haven’t bucked their slump. In labor, ADP data came in a touch soft but unemployment claims were strong. ISM surveys skewed positively. A decline in consumer credit gave the bears something to chew.

Don’t worry, things will get more interesting with inflation data and earnings next week. Later in the month, we will see if the Federal Reserve pushes pause. In the meantime, let’s talk about capex, credit spreads, and common sense.

The Tipping Point

This is a bad idea. But hear me out.