August 24, 2020 | Daily JAM, Morning Briefing |
Yesterdays "good news" press event from President Donald Trump started U.S. stocks on an upward trend this morning. As of noon New York time, the Standard & Poor's 500 was up 0.73% and the Dow Jones Industrial Average was ahead 0.99%. The NASDAQ Composite has...
August 24, 2020 | Daily JAM |
... Wall Street to be hanging on the words of a Thursday, August 27 speech. Not the one that night where Donald Trump accepts the Republican Party nomination for President. That's unlikely to offer any surprises to the stock market. Instead the key speech that day is...
August 22, 2020 | Daily JAM |
On Friday August 21, Reuters reported that Wells Fargo (WFC) had in early August resumed the job and cost cutting program that it had paused in March as the coronavirus pandemic raged toward its heights in the United States. In July the bank said it would resume...
August 22, 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. Of course,...
August 21, 2020 | Daily JAM |
In January, the Congressional Budget Office forecast that total U.S. government debt would hit 100% of GDP around 2030. At that point U.S. debt stood at about $17 trillion or roughly 80% of GDP. So much for that forecast. As of the end of June, U.S. government debt...
August 21, 2020 | Daily JAM, Morning Briefing, Volatility, WFC |
The overall number of borrowers delinquent on their mortgages fell by 340,000 in July. That's down by 9% from June. (These are figures from Black Knight, which collects delinquency numbers monthly. The Mortgage Bankers Association, on the other hand, releases its...
August 20, 2020 | Daily JAM, Morning Briefing |
New claims for unemployment at regular state-run programs rose by 135,000 in the week ended August 15 to 1.1 million. Initial claims for unemployment were 970,000 in the prior week. Economists had expected that initial claims would drop to 920,000 this week. Wall...
August 19, 2020 | Daily JAM, Jubak Picks, Volatility |
The old saw about how to get rich from a gold rush says, Don't try to strike it rich mining gold; instead sell picks and shovels and blue jeans to the miners. Same still holds in today's race to produce an effective and safe coronavirus vaccine. One or two of the...
August 18, 2020 | Daily JAM |
We're all familiar at this point with the Powell Put, the market's faith that the Federal Reserve will support stock prices with a deluge of cash if the market starts to crack. Part of the faith in this put comes from the Fed's promise that it will keep its benchmark...
August 18, 2020 | Daily JAM, Morning Briefing |
This morning, August 18, Walmart (WMT) reported that comparable store sales climbed 9.3% year over year for the company's fiscal second quarter that ended on July 31. Sales for its e-commerce unit jumped 97% year over year. That was up from growth of 74% in the final...
August 17, 2020 | Daily JAM |
Part 2: Rethinking the strategies for retirement. Over the years, investors and money managers have developed back of the envelope formulas for thinking about investing for retirement. These rules have been around for most of the nearly 40 years I've been writing...
August 17, 2020 | Daily JAM, Dividend Income, GOLD, Jubak Picks, Stock Alerts, Top 50 Stocks |
Shares of Barrick Gold (GOLD) are up 11.10% today to $29.99 as of 1:30 p.m. New York time on Monday, August 17. The continued climb in Barrick Gold shares comes on the strength of an ongoing rally in gold prices and news that broke on Friday that Warren Buffett's...