Instead, his core strategy is to buy quality stocks at reasonable valuations -- and his holdings include positions in the first two companies discussed here. Apple (NASDAQ: AAPL), UPS (NYSE: UPS), and Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) all face earnings headwinds in 2023, but they will likely emerge stronger from any recession that coult potentially kick off this year. A combination of supply chain disruptions, a weakening environment for consumer discretionary spending, and adverse foreign currency exchange movements hit Apple in calendar 2022, and some of those issues are likely to extend well into 2023. Read More...
Reuters
U.S. posts $39 billion January deficit after pension fund bailout
WASHINGTON (Reuters) -The U.S. government posted a $39 billion budget deficit for January after a $119 billion monthly surplus a year earlier, as revenues dipped and one-time costs, including the bailout of a union pension fund, pushed outlays sharply higher, the Treasury Department said on Friday. The report, which comes as Treasury employs extraordinary cash management measures to avoid breaching the federal debt limit, showed receipts at $447 billion last month, down $18 billion, or 4%, from January 2022. The Treasury has said its ability to pay U.S. obligations may not last past early June unless Congress raises the $31.4 trillion statutory debt ceiling.
