KG on November PCE & Jobless Claims, Bearish Technicals Ahead of Mag 7 Earnings

• November PCE data aligned with estimates, but personal spending remains high, potentially fueling inflation and wage demands.
• Q3 GDP final read was strong at 4.4%, and jobless claims were better than expected, indicating a resilient economy.
• The Fed is unlikely to cut rates in January, with only two rate cuts anticipated for the remainder of the year.
• Geopolitical risks continue to drive market sensitivity, with elevated volatility (VIX), and the dollar's trend has not reversed.
• Natural gas prices are highly volatile due to weather, showing significant backwardation between February and March contracts, warranting caution.

The video discusses recent economic data, including November PCE and Q3 GDP, which largely met expectations, suggesting a favorable economic backdrop. However, concerns about rising goods inflation and elevated personal spending could influence the Fed's decisions. Geopolitical risks and natural gas price volatility are also highlighted as key market drivers.