July 1, 2024 | Daily JAM, Short Term |
There won’t be any stock market reaction to the June jobs report due on Friday That’s because the market closes early on July 3 and stays closed for Friday’s Fourth of July holiday. And not because the report isn’t important as the Federal Reserve continues its search for evidence that the labor market is cooling enough to send inflammation down to the bank’s 2% target. The June report is expected to show that the economy added 188,000 jobs in June.
July 1, 2024 | Daily JAM, Morning Briefing, Short Term |
Wall Street strategists at influential investment giants are starting to recommend buying inflation hedges for 2025.
That means, at the moment, buying at the short-term end of the Treasury market–like 3-month to 12-month bills–and selling at the long-end–like 10-year notes.
July 1, 2024 | BYDDF, Daily JAM, Mid Term, Stock Alerts, Volatility |
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July 1, 2024 | Daily JAM |
The pandemic savings cushions that helped Americans weather high prices in recent years are gone, according to calculations by the San Francisco Federal Reserve. The result is likely to be less spending and more debt pressure on consumers in the lower half of the income spread. Consumers at higher income levels will see any impact outweighed by gains from a booming stock market.
June 27, 2024 | Daily JAM, Morning Briefing, Short Term |
Micron Technology (MU) shares shares are down another 7.12% today, Thursday, June 27, as of the close in New York time. That’s after the stock fell 6.5% in after hours trading yesterday. The problem wasn’t the company’s third-quarter earnings report after the market close yesterday. For the period ended May 30, Micron earned an adjusted 62 cents a share. Analysts had expected the company to earn 53 cent a share. Revenue was up 82% year-over-year to $6.81 billion. Wall Street was looking for $6.67 billon in revenue. But the very solid beat for the quarter turned out not to matter as far as market reaction was concerned. The problem was guidance.
June 26, 2024 | Daily JAM, Jubak Picks, Special Reports, Stock Alerts |
I will be adding shares of ServiceNow to my 12-18 month Jubak’s Picks Portfolio tomorrow June 27.
June 25, 2024 | Daily JAM, Long Term, Morning Briefing, NVDA, Stock Alerts, Top 50 Stocks |
I think there are reasons to worry about Nvidia’s valuation and its ability to continue to generate revenue and earnings growth at a pace that would support a forward price to earnings ratio above 40, but I think those re worries for 2025. In 2024, I don’t see anything that disrupts the AI boom story. Over the next six months or so I’d like to be buyer, especially id I can get the shares on a temporary drop. So yesterday’s drop to $118 was a promising development. There was technical support at the 50-day moving average near $100 so there was a chance the stock would move lower. Today, Tuesday, June 25, though, shares of Nvidia rallied, closing ups 6.76% at $126.09. This doesn’t mean the drop is over or the opportunity is lost,
June 24, 2024 | Daily JAM, Jubak Picks, Mid Term, Special Reports, Stock Alerts |
At this point in the AI cycle I’d like to own shares of companies providing AI solutions in relatively “easy” data universes. (Nothing as complex as voice recognition for an interface with a diverse customer universe under uncontrolled environmental conditions. Like a family in a car at a McDonald’s drive-through.) And I’d like to focus on shares of companies with products that provide clear enhancements to customers bottom lines. Like my Pick #4 Salesforce (CRM). in my 5 Next Big Things Special Report.
June 23, 2024 | Daily JAM |
Expect a make or break inflation report on Friday. Make or break that is for the possibility of an initial interest rate cut at the Federal Reserve’s September 18 meeting.
June 21, 2024 | Daily JAM, Morning Briefing |
Since March, the U.S. Securities and Exchange Commission has accused three companies of misrepresenting how they use machine learning and other tools in what is being dubbed, by analogy with green washing, exaggerated environmental claims–AI washing.
June 20, 2024 | Daily JAM, Long Term, Morning Briefing, Special Reports, Stock Alerts, Top 50 Stocks |
I’d buy Broadcom even at this price as one of my three core AI stocks from the current generation of leaders. I’m adding it today to my long-term 50 Stocks Portfolio.
June 19, 2024 | Daily JAM, Morning Briefing |
Yesterday, Tuesday, June 18, the Congressional Budget Office projected that the federal debt would hit $50.7 trillion by 2034. That’s only 10 years from now. That year the federal debt will equal 122% of the United States’ annual economic output (GDP). That would far surpass the high set in the aftermath of World War II.
