April 30, 2020 | AMZN, Daily JAM, Stock Alerts |
Amazon reported first quarter earnings today and fell $1.10 a share short of Wall Street estimates for $5.01 a share (GAAP earnings). That was a 30% year over year decline. Revenue, however, of $75.5 billion was up 26.5% year over year and beat estimates by $1.41...
April 30, 2020 | Daily JAM, KO, Stock Alerts |
Today's shocking announcement from Royal Dutch Shell (RDS-A) that it would cut its 10% dividend, to 16 cents a share is a brutal reminder of one of the big challenges facing dividend investors. Royal Dutch shares were down 12.02% as of 3 p.m. Nw York time today, April...
April 30, 2020 | Daily JAM |
Senior Trump administration figures are to meet today to begin mapping out a strategy for retaliating against China for its handling of the coronavirus pandemic, the Washington Post reports, citing four senior administration officials as sources. In recent days...
April 30, 2020 | Daily JAM, Morning Briefing |
The job losses continued, as expected, with 3.84 million people filing new claims for unemployment in the week that ended on April 25. That follows on 4.44 million new claims for unemployment in the prior week. Economists surveyed by Bloomberg had projected 3.5...
April 29, 2020 | Daily JAM |
My explanation. See if this makes sense to you. Nothing in the rear view window matters to Wall Street right now. Â Not first quarter earnings. Not economic growth or the lack thereof. Nothing in the second quarter matters either. Forecasts of a 30% or more drop in...
April 29, 2020 | Daily JAM, Mid Term |
As expected the Federal Reserve left interest rates at their current level of 0%-0.25%. And there were very few changes in the central bank's language. But a few subtle shifts are worth noting, I believe. The Fed said in early April that “We have also committed to...
April 29, 2020 | Daily JAM |
Drop money from the sky. Lots and lots of it. Enough to shock a struggling economy out of a deep slump. Milton Friedman coined the term. In Friedman's scenario the helicopters appear unexpectedly ( I don't know if they play Wagner) and just dump money on the economy....
April 29, 2020 | Daily JAM, Morning Briefing |
The U.S. economy contracted at a 4.8% annualized pace in the first quarter. That's the worst slide since 2008 and the first down quarter for growth since 2014. Consumer spending, no surprise in days of coronavirus shelter at home orders, led the decline (with a 7.6%...
April 28, 2020 | Daily JAM, Notes You Need |
In my daily trawling through the market I come upon lots of tidbits of knowledge that I think are important to investors but that don't justify a full post. I've decided to start compiling these notes here each day in a kind of running mini blog that I'm calling Notes...
April 28, 2020 | Daily JAM, Long Term, Morning Briefing |
As long as I can remember (which is only back about 40 years when it comes to the economy) the worry has been inflation. From the stagflation of the late 1970s, to Paul Volcker's brutal but successful assault on inflation in the early 1980s, to the seemingly endless...
April 27, 2020 | Daily JAM |
I'll bet Mitch McConnell has Federal Reserve chair Jerome Powell tearing his hair out. McConnell has repeatedly said in recent days that he's opposed to any plan to provide $500 billion or so of Federal (that is taxpayer money) to state and city governments who are...
April 27, 2020 | Daily JAM |
The best financial bazookas are those central banks never need to use. The alphabet soup of new emergency lending programs the Federal Reserve set up during the first stage of the coronavirus financial market turmoil saw very little new borrowing last week. Lending...