Monday Homestretch/I HATE NY
Earnings season starting back up again (Pepsi, Delta, CITI, JPMorgan all this week), and the major geopolitical concerns of this past month (tariffs and the subsequent trade war that will follow) will probably not affect second quarter results. Overall, profit for S&P 500 companies in the second quarter is expected to be up 19.5% from a year earlier, according to S&P Global Market Intelligence.
However, with all the questions surrounding the effects on profitability that tariffs may have going forward, you can be damn sure it’ll be the topic du jour on every conference call… Possibly causing management teams to lower guidance for the second half of 2018 and beyond.
If Donald is able to reach some sort of agreement with US trade partners and provide a clear path toward a resolution at some point in this next month, markets can continue to move higher, and you’ll hear the collective unclenching of the sphincters of multi-national CEOs around the globe.
Outside of earnings, we’ll also get 2 inflation indicators when the Labor Department reports its Producer Price Index and Consumer Price Index for June on Wednesday and Thursday, respectively. Although I confuse them all the time, I know one keeps track of how much consumers pay for goods and the other measures how much producers sell them for. As I mentioned Friday after the jobs report, wage growth is barely ahead of inflation, which is firming up as the economy strengthens.
Programming Note: Looks like I will be co-hosting Barstool Breakfast again tomorrow with former NFL offensive lineman, and gigantic African-American, Wille Colon. I hosted once before with him, and apparently it went well. So if you’re near a radio tomorrow from 7-9AM, tune into Sirus Channel 85 and listen to me play around with my big black Willie.
God, I hope he doesn’t read that.
Switching gears, I still fucking HATE New York City. I really don’t care about the handful of people who are sick of me complaining because there is a slightly larger handful who feel the same way as me.
I drove in last week, and I decided to give 1010WINS twenty-two minutes, so they could give me the world. In the first 2 they told the story of that poor sonofabitch who got knocked out in the Bronx. I am sure most of you saw the footage, but here it is again…
Man sucker-punched in Bronx street; Passersby raid his pockets – YouTube
Guy gets waffled by a couple of cowards, fractures his skull when he hits the pavement, and then a wake* of human vultures pick him clean.
1010WINS reporter John Montone went on to say how this knockout came just days after another Bronx kid was killed outside of a bodega. There have been 11 vermin charged so far with that kid’s death which is being chalked up to a case of mistaken identity between Dominican gangs. Eleven scumbag gang members killing one kid… Nice odds.
So to combat this, council members in the Bronx were hosting a Gang Summit. Which I am sure cleared everything up.
Next segment on 1010 was an almost identical summit being held in Brooklyn. Apparently, residents of Bed Stuy are being overrun with rats. Similar to my post on Central Park last Monday, the streets of that community are filled with thousands of rats… Just shitting, pissing, fucking, and cumming EVERYWHERE. A spokesman for DiBlasio was there, saying the city is developing new garbage cans to prevent rats from openly dining on bodega scraps, and some other guy in a lab coat demonstrated how dry ice is effective in suffocating rats inside of their holes.
Other than that, there were free donuts and coffee.
So if you ever get into a groove where you are starting to feel positive about NYC, do me a favor, and tune into 1010WINS. You give them 22 minutes, and they’ll give you assault, gangs, rats, traffic on the 1’s, and plenty to hate about NYC.
Take a report.
-Large
* Similar to the way a group of lions is better known as a “pride”, a group of vultures is called a “committee”, “venue” or “volt”. In flight, a flock of vultures is a “kettle”, and when the birds are feeding together at a carcass, the group is called a “wake“. If I am going to insult low-life New Yorkers by comparing them to repulsive birds, then I am going to use the fucking correct collective noun.
** I find this type of trivia interesting, so in keeping with the theme of Bed Stuy’s Rat Summit, male rats are called “bucks”, unmated females are called “does”, pregnant or parent females are called “dams”, and infants are called “kittens” or “pups”. A group of rats is referred to as a “mischief” or a “law firm”.
Testing pictures from cell phone again… This one is called the “Brew-Unicorn”.
Does this show up for everyone?
