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Market Crowd

📈 Dow

41,563.08
388.00 (0.94%)

📉 S&P

5,648.40
13.79 (0.24%)

📉 Nasdaq

17713.62
-164.17 (-0.92%)

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When You Can’t Xscape Inflation

Dollar General (DG) stock dropped 20% after they reneged on how much they think they’ll make this year.

This could point to a much bigger issue and it's showing in the company's outlook.

The discount retailer is now expecting same-store sales to only increase by 1.0% to 1.6%, which is way lower than their original projection. And earnings per share? They're looking at just $5.50 to $6.20, down from their earlier forecast of $6.80 to $7.55.

To make matters worse, their latest quarterly report was a letdown, too. They missed the mark on both earnings per share and revenue expectations.

Now, this isn't just about one company having a bad day.

It's a reminder that even discount retailers aren't immune to economic pressures.

But when a discount store starts struggling, it's like a flashing neon sign telling us something's up with the average consumer. These are the stores people turn to when times get tough, so if they're hurting, it leaves us all wondering “who can I run to”?

Are Captain Planet’s green dreams on hold?

Despite all the talk about going green, ExxonMobil's (XOM) saying fossil fuels are gonna be stickin' around like that one song you can't get outta your head.

Exxon's crystal ball is showing that by 2050, oil and gas will still be the main players in the energy game, making up over half of what keeps our world running.

That's a big deal when you consider the big push towards renewable energy.

Now, don't get it twisted – renewable energy is growing faster than my followers but Exxon's saying even if every new whip sold in 2035 is electric, we'll still be guzzling about 85 million barrels of oil a day in 2050.

That's like rewinding to 2010 levels!

Oil giants are pushing back hard against the idea of cutting production. Saudi Aramco's CEO even called phasing out oil and gas a "fantasy."

Ouch!

Here's where it gets spicy: Exxon's warning that if we don't keep investing in new oil projects, we could be looking at a supply shock that'd make the Great Depression look like a bad hair day.

They're talking 'bout prices skyrocketing and the economy taking a nosedive.

So, what's the bottom line?

The energy transition is happening, but it's moving slower than dial up.

We're in for a long, complicated dance between old-school fossil fuels and new-age clean energy. Sorry Captain.

The number that’s got everyone on their toes

The Personal Consumption Expenditures (PCE) price index just released its latest numbers, and they're lookin’ pretty steady.

💡 The PCE is like a financial report card for the whole country. It measures inflation by tracking what we're buying, how much we're spending, and how prices are changing.

July's numbers show a 0.2% monthly increase and a 2.5% annual rise, matching Wall Street's expectations. The core PCE, which excludes food and energy, also rose 0.2% for the month, with its annual increase at 2.6%, slightly below the 2.7% they were predicting.

So what does all this mean for our financial future?

The Fed's aiming to get the PCE down to 2%, and we're getting closer, but we're not there yet.

Powell and the crew at the Fed are feeling more confident about inflation easing up, but these PCE numbers likely won't change much by the September Fed meeting.

The upcoming jobs report, though?

That could really influence things.


Related:

Market Outlook

A look at how the market does historically over the next week.

📈 Dow

Up 8 out of the last 15 years

📉 S&P

Up 8 out of the last 15 years

📉 Nasdaq

Up 8 out of the last 15 years

Trends

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💫 TMYK

Which month is the most roller coaster month of the year for the stock market? Answer here.