February 29, 2020 | Daily JAM, You Might Have Missed |
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...
February 29, 2020 | Daily JAM |
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...
February 29, 2020 | Daily JAM, Friday Trick or Trend |
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...
February 28, 2020 | Daily JAM |
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...
February 28, 2020 | Daily JAM, GM, Stock Alerts |
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...
February 28, 2020 | Daily JAM |
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...
February 27, 2020 | Daily JAM, Morning Briefing, Volatility, You Might Have Missed |
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...
February 27, 2020 | Daily JAM, Short Term, Volatility, You Might Have Missed |
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...
February 27, 2020 | Daily JAM, Morning Briefing |
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...
February 27, 2020 | Daily JAM |
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...
February 26, 2020 | Daily JAM, Morning Briefing |
This is exactly the pattern that financial markets are afraid of:Â Another company announcing the it would miss the revenue and earnings guidance that it had issued just weeks ago because of the effects of the coronavirus outbreak. In this case it's Microsoft (MSFT), a...
February 26, 2020 | Daily JAM |
It was less obvious today when there were other splashes of green among global stocks. But on Monday and Tuesday, the trend was readily apparent since so few stocks moved up on those days and so much of the market was colored a bright red. Oddly enough some China...