Blog

Archive for August, 2020

U.S. oil shale rig count continues to drop

The number of active oil rigs in the United States fell by 4 to 172, Baker Hughes reported today. That's the lowest level since 2005 in the days before the U.S. oil shale boom. The news is likely to get worse for U.S. producers and oil service companies. The number of drilling permits dropped last […]

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China’s economic recovery slowed by weak domestic demand

In July China's industrial output climbed by 4.8% year over year, Beijing announced today. That's the same rate as in June. This good news in that it shows the post-coronavirus recovery continues in the industrial sector. But it's bad news in that growth isn't accelerating and the recovery remains slow. As if to put an […]

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It’s official: Coronavirus stimulus/rescue talks are dead until September

The Senate officially adjourned today through Labor Day, September 7. The House of Representatives had already been out of season, but now Speaker Nancy Pelosi (D-Calif.) has announced that she will return to California next week. In the negotiations that collapsed on Wednesday Democrats refused to compromise further than the $2 trillion package (down from […]

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Watch airlines stocks as coronavirus talks go nowhere

So far the stock market, in general, doesn't seem to be too worried that the talks over the next coronavirus stimulus/rescue package have collapsed--probably, it now looks, until September. Today, August 13, the Standard & Poor's 500 was down just 0.20% at the close and the Dow Jones Industrial Average was only 0.289% lower. The […]

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Initial claims for unemployment drops below 1 million for last week

The number of workers applying for unemployment benefits from state unemployment programs fell below 1 million for the week ended August 8. At 963,000 the number was below the 1.18 million new claims for the week of August 1. Economists had expected initial claims of 1.1 million. Continuing claims for unemployment dropped to 15.5 million […]

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Adding West Pharmaceutical Services to Jubak Picks Portfolio on rotation back to momentum winners

What a difference 72 hours can make. Just a few days ago I was looking to find consumer/cyclical/"re-opening dependent" shares as the stock market looked to be rotating away from recent technology and momentum leaders and toward beaten down shares that would climb with a new coronavirus rescue package and a stabilization of the re-opening […]

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Congressional coronavirus stimulus/rescue talks are dead–probably until September

House Speaker Nancy Pelosi and Treasury Secretary Steve Mnuchin talked today for the first time since talks on the next coronavirus stimulus/rescue package collapsed on Friday. About the only thing that emerged from today's brief conversation was a consensus that the talks are dead for the foreseeable future--perhaps until September when Congress will be under […]

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Back to tech: For a day (at least) rotation is over

Today, August 12, the rotation out of tech winners and into beaten-up consumer and industrial stocks is over. As of the close today. the Standard & Poor's 500 was up 1.40% but the NASDAQ Composite was ahead 2.13%. The Dow Jones Industrial Average was higher by 1.05% and the Russell 2000 small cap index had […]

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Special Report: How to meet your retirement challenge–Part 1 how we got into this mess (and what’s the size of the problem)

I'm going to divide this Special Report: How to meet your retirement challenge" into three parts. Today, Part 1 outlines the problem, its causes, and its likely duration. Tomorrow, Part 2 looks at the way the crisis has upended rules and assumptions about how to invest for retirement. On Thursday, Part 3 gives you concrete […]

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My coronavirus vaccine pick Vaxart continues its recovery

Shares of Vaxart (VXRT) were up 21.77% today to $11.44 as of 3:15 p.m. New York time. You'll remember that Vaxart is my pick in my Volatility Portfolio for participating in the coronavirus vaccine race that plunged 47.6% from $16.97 on July 14 to to $8.90 a share on August 4 on a underreported (in […]

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