What we’re reading (4/13)
“A Growing Number Of Investors Believe The Stock Market Is In A Bubble As Bullish Sentiment Reaches Pre-Pandemic Levels, An E*Trade Survey Finds” (Business Insider). “Out of 957 active investors who manage at least $10,000 in an online brokerage account, 69% of them think the market is either fully or somewhat in a bubble, according to E*Trade. That's up 3 percentage points from last quarter's survey.”
“U.S. Consumer Prices Post Biggest Gain In 8-1/2 Years As Economy Reopens” (Reuters). “U.S. consumer prices rose by the most in more than 8-1/2 years in March as increased vaccinations and massive fiscal stimulus unleashed pent-up demand, kicking off what most economists expect will be a brief period of higher inflation.”
“Boeing’s Sales Again Outpace Cancellations, Jetliner Deliveries Pick Up” (CNBC). “The manufacturer on Tuesday reported gross orders of nearly 200 of its bestselling 737 Max aircraft, including a 100-plane sale to Southwest Airlines. Accounting for cancellations, conversions and other order changes, it posted net positive orders of 40 planes. Boeing’s backlog stood at 4,054 planes at the end of last month, up from 4,041 at the end of February.”
“The Dispiriting Housing Boom” (Axios). “It's a discouraging scene: Bidding wars, soaring prices, and fears that homeownership is becoming out of reach for millions of Americans. We're in a housing frenzy, driven by a massive shortage of inventory — and no one seems to be happy about it.”
“Egypt Seizes The Ever Given, Saying Its Owners Owe Nearly $1 Billion For Suez Canal Traffic Jam” (Washington Post). “In the latest complication to the ill-fated voyage, Egypt has seized the Ever Given over its owners’ ‘failure to pay an amount of $900 million,’ the state-run news outlet Ahram Gate reported. That amount represents the total compensation that Egypt says it is owed for the six-day blockage of the Suez Canal, including lost revenue from ships that ordinarily would have traveled through the canal during that time, as well as costs for damage to the crucial waterway and the equipment and labor deployed in the 144-hour scramble to free the ship.”
