December 23, 2024 | AMD, Daily JAM, F, Jubak Picks, MRNA, Stock Alerts |
More than time to make the sells to harvest tax losses for 2024. It’s especially important if the volatility in some of 2024’s favorite stocks. like Nvidia (NVDA) let you to sell and then re-buy and then make sell again in 2024. Keep in mind the “wash sale” rule. The wash sale rule prohibits claiming a loss on a security if you buy the same or a “substantially identical” security within 30 days before or after the sale. Which is only a difficulty if you think that a stock you’re selling today is likely to have a huge rally by February 1. I think there are quite a few sell candidates where the shift in policy from the out-going Biden Administration to the incoming Trump Administration make getting caught in a regret rally is extremely unlikely.
December 23, 2024 | Daily JAM, Morning Briefing |
The Conference Board’s gauge of costumer confidence decreased to 104.7, data released Monday showed. It was the first drop in the survey in three months. The reading of 104.7 was well below the median estimate in a Bloomberg survey of economists. More troubling to me, the survey’s measure of expectations hit a five-month low.
December 21, 2024 | Daily JAM |
Look for the the annual Santa Claus Rally this week. And if it doesn’t arrive, expect that to increase feelings of uncertainty on Wall Street as we begin 2025.
December 21, 2024 | Daily JAM, Morning Briefing |
From the Washington Post: President Joe Biden signed a congressional spending bill into law on Saturday morning, putting to bed the threat of a potential Christmastime government shutdown and kicking the issue for a new Congress and a new president to address in the spring.
December 20, 2024 | Daily JAM |
Tonight the House passed a spending bill to keep the government open. Th bill does not include President-elect Donald J. Trump’s demand to raise or suspend the debt ceiling. The legislation covers government funding, disaster relief and payments to farmers, but not the debt ceiling increase that Mr. Trump had insisted on. The debt ceiling issue caused a Republican revolt that sank a previous measure on Thursday.
December 20, 2024 | Daily JAM |
Speaker Mike Johnson (R-Louisiana) said Friday that the House would vote on a new spending plan without President-elect Donald Trump’s demand to suspend the debt limit. A vote is expected to take place after 5 p.m. Washington time.
December 19, 2024 | Daily JAM, Morning Briefing |
It’s taken a while–what with the distraction of another potential government shut down. BUT IT’S ALL NOW AVAILABLE. You can find the complete version under the Special Reports tab.
December 19, 2024 | Daily JAM |
The plan, as of 5 p.m. Washington time, would fund the government until March 14 ad suspend the debt ceiling for 2 years. As of this moment a vote is scheduled for 6 p.m. Washington time tonight.
December 19, 2024 | Daily JAM |
In June 2023 after a bitter fight, Congress agreed to suspend the $31.4 trillion debt limit until January 1, 2025. Yep, January 1. Which means that even if Congress can fix the government spending crisis it created by its inability/unwillingness to pass a fiscal 2025 budget, we will’ move straight into a debt ceiling crisis. As with many Congressional deadlines, the January 1 date doesn’t mean quite what it seems.
December 19, 2024 | Daily JAM, Morning Briefing, Short Term |
It’s now not just that the MAGA wing of the Republican majority in the House of Representatives along with President-elect Donald Trump and who-elected-you co-president wanna be Elon Musk have killed the Continuing Resolution (CR) negotiated with Democrats by Republican Speaker Mike Johnson. That bill would have kept the government’s doors open beyond Saturday’s funding deadline until March 14, 2025. There’s no way to put together a new package and pass it before funding for the government expires. These folks have also made it extremely likely that the shutdown will last for more than a few days. How?
December 18, 2024 | Daily JAM, Short Term |
Late Tuesday House Speaker Mike Johnson introduced legislation to prevent a government shutdown this weekend by extending federal funding until March 14, sending $110.4 billion to natural disaster survivors, and codifying a miscellany of policy changes. But Republicans are preparing to scrap Johnson’s plan to avert a government shutdown.
December 18, 2024 | Daily JAM |
In today’s quarterly update to its projections on economic growth, inflation, and interested rates in its Dot Plot survey of sentiment, Fed officials and governors forecast fewer rate cuts for next year than in their September projections, and they saw the fight against inflation making considerably less progress in 2025. According to the median estimate, they now see the benchmark interest rate reaching a range of 3.75% to 4% by the end of 2025. That would mean just two 25 basis-point cuts. The Fed’s projections are considerably more pessimistic than investors or Wall Street economists are. A majority of economists surveyed by Bloomberg had expected the median estimate would point to three cuts next year.
