Episode 93 - Russia sabotage, Bank of America alarm, Fighting at the Steel Plant (Tom Kemler)

Welcome to another Weekly Market Update with Tom Kemler. In this episode Tom and Jeff discuss

1. Russia faces a ‘sabotage’ epidemic at chemical plants and munitions factories over the last several weeks.
2. Russia is still exporting oil through the Black Sea.
3. Trade deficit with Russia is at the highest point in history because we continued to import Russian oil.
4. Russia steals 400,000 tons of grain from Ukraine sparking fears of a devastating food crisis.
5. Inflation in Turkey climbs to almost 70% in April.
6. Bank of America sounding an alarm on collapsing freight demand.
7. Chicago fed activity index is still pretty strong.
8. Export numbers have collapsed causing GDP to go negative.
9. International trade goods were at the worst number at - $125B for one month.
10. Wholesale and retail inventories rising.
11. ISM Manufacturing index was as week as it has been since Covid
12. Productivity decreased significantly. Unit labor costs are off the charts at 11.6%
13. Intrayear declines in S&P have averaged -13.7% since 1952, yet annual price returns have been positive in 51 of those 70 calendar years.
14. Bond market is at the highest it has been in over 8 years.
15. Most Interesting Thing: Heavy fighting continues at the Ukrainian Steel Plant. The moral of the story…Don’t mess with a Ukrainian Marine.

Tom Kemler is the Chief Business Appraiser at BKA Business Consulting and BKA Wealth Consulting. Tom is a Chartered Financial Advisor (CFA), and a Certified Business Appraiser (CVA). Tom has over 30 years of experience valuing companies and studying economics.

Jeff Kikel is the host of the Money Trekker Podcast and has hosted several other Podcasts and YouTube Shows. Jeff is an entrepreneur and owns several companies in the Finance, Coworking, Media, and Publishing industries. Jeff is also the author of 6 books in the Finance, Retirement Plan, and Entrepreneurial areas.

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