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Archive for February, 2020

Washington state reports first U.S. death; potential outbreak at elder care center

Saturday state health officials in Washington reported the first U.S. death from the coronavirus. The victim, according to early reports, was a man in his 50s with underlying medical conditions. In other coronavirus news from Washington, two people at the Life Care Center elder care health center in Kirkland, Washington, have been diagnosed with the virus. […]

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China’s manufacturing sector contracts most ever in February

China's Purchasing Managers' Index for manufacturing fell to the lowest level on record at 35.7, accord to the National Bureau of Statistics. (The manufacturing index had been at 50 in January.) The PMI for the service sector also fell to the lowest level ever at 29.6. In this index any reading below 50 indicates contraction. […]

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Trick or trend: Now financial markets are looking for a 50 basis point cut at the March 18 meetng

Our regular (or occasional or perhaps occasionally regular) Friday series (actually running on Saturday this week) Trick or Trend looks at what might (or might not) be emerging investible trends. Exclusively on JAM. This post won't run anywhere else. Ever. I hope that Fed chair Jerome Powell didn't think he was merely "calming" the financial […]

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For another day the Federal Reserve rallies the market

It was just four sentences--“The fundamentals of the U.S. economy remain strong. However, the coronavirus poses evolving risks to economic activity. The Federal Reserve is closely monitoring developments and their implications for the economic outlook. We will use our tools and act as appropriate to support the economy.” And with that Federal Reserve chair Jerome […]

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Buying General Motors in my Dividend Portfolio

I don't think the coronavirus stock market rout is over, but I do believe you have to be opportunistic about snapping up dividend yield during this correction. Today shares of General Motor (GM) were down another 2.12% as of 2:40 p.m. New York time. That brings the forward yield on these shares (at the 2:40 […]

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Clues on a U.S. coronavirus testing timetable

My argument is that the financial markets will remain in unpredictable (but downward trending) chaos until we have a better idea of the actual status of the virus outbreak in the United States--and that will require testing to discover the course of the disease, the location of infected communities, and likely locations of new infections. […]

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Lesson for financial market sell off from California coronavirus bad news

News on Thursday that California was monitoring 8,400 people believed to have been exposed to the coronavirus was a major contributor to the afternoon collapse in U.S. stocks that sent the Standard & Poor's 50 down 4.42% for the day. And there's a very important lesson in the California news and the market reaction for […]

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Next big date in the coronavirus selloff? March 18

How can I be so precise? Because March 18 is the date of the next meeting of the Federal Reserve's interest rate setting Open Market Committee. And in the last two days financial markets have stampeded to a belief that the Fed will enact an emergency interest rate cut at the March meeting in response […]

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U.S. stocks break down on bad coronavirus news from California; technical support fails

This morning it sure looked like U.S. stocks were going to bounce back from yesterday's beating and from a deeply negative open. After opening down 2.28% at 9:31 a.m. New York time and then sinking even lower to down 3.54% by 10:35, the Standard & Poor's 500 climbed out of that hole to show a […]

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A day of firsts in the coronavirus outbreak–including first case in U.S. not connected to travel or contact with a confirmed case

The Centers for Disease Control and Prevention has been informed of the first case of the coronavirus in a person who did not recently return from a foreign country or have contact with a confirmed case. This would be a huge development because this case in Northern California would be a sign that the virus […]

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