Diamonds and Dogs

10/8/24

Pepsi (PEP) is up a percent even as earnings were lackluster. Pepsi said consumers are still buying, but are scrutinizing their purchases more carefully.  Pepsi , Coke and General Mills have come under fire from Congress for "shrinkflation", charging the same price for a smaller bag or bottle. The stock has underperformed this year so it seems like the bad news has been priced in.

Chinese stocks and the price of oil are pulling back. Oil prices are down 4% today as tensions in the Middle East subside for at least a day. Oil prices have surged over 13% over the last two weeks. Speaking of oil, over a 1000 gas stations or 14% in the state of Florida have run out of gas due to the vast evacuation ahead of the hurricane.

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