Mid Term
Yep, the recovery is slowing: New claims for unemployment unchanged for the week
Applications for U.S. state unemployment benefits were unchanged at 884,000 for the week ended September 5 from the week ended on August 29, the Labor Department reported this morning. Economists surveyed by Bloomberg had expected the total wold drop to 850,000 new...
Now there are two Puts supporting the market as the Vaccine Put joins the Powell Put
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Powell announces anticipated shift in policy framework at the Fed yesterday: 0% for longer
As anticipated in Wednesday's rally--the Standard & Poor's 500 climbed 1.02% and the NASDAQ Composite was up 1.73%--Federal Reserve Chair Jerome Powell on Thursday announced that going forward the Fed would let inflation rise to above its current target of 2% from...
It’s a classic sign of a credit crunch: Interest rates are low–but try getting a loan
In a classic credit crunch, banks and other lenders worried that they might have eased loan standards too much during economic good times, start to tighten lending standards because they are worried that we're in or are heading into rougher times for the economy....
Damage to the real economy piles up while Washington fiddles
The latest news out of the coronavirus economic rescue package talks is that there has been no progress on the big issues the separate the two sides: among them restoring the $600 (or some number) enhanced weekly unemployment benefit and funding for city and state...
Let the stimulus logrolling begin (I hope): Republicans near $1 trillion (maybe) with Democrats at $3 trillion as McConnell describes his plan on Senate floor
Of course, there isn't actually a Republican bill in the Senate yet, but in a floor speech today Senate Majority Leader Mitch McConnell said “The American economy needs another shot of adrenaline.” McConnell also noted that infections are “climbing in hot spots around...
Special Report: 10 Global Warming Stock Picks–Special Report: 10 Global Warming Stock Picks–6 Stage One picks, my first Stage Two pick
According to John Lennon, "Life is what happens to you while you are busy making other plans." That's also true of the global warming. ("Climate change," if you want, but I prefer "global warming" because heat is the fuel driving climate change whether the change is...
Apple says it will close 30 more stores
I'm using Apple (AAPL) as one indicator for the state of the re-opening economy. Apple's decision today to re-close 30 more of its stores in seven states, including Alabama, California, Florida, Georgia, Idaho, Louisiana, Nevada, Oklahoma, Texas and Utah, is a sign...
Fed announces names of its first direct corporate bond purchases
This strikes me as a bad idea. What could possibly go wrong? The U.S. central bank made $207 million in purchases on June 16, the first day of direct buying. The Federal Reserve bought bonds issued by, among other companies, AT&T (T), UnitedHealth Group (UNH), and...
4th pick for Special Report 10 Stocks to Beat Amazon–SGEN
My fourth pick in my Special Report "10 Stocks to Beat Amazon" is a biotech, Seattle Genetics (SGEN). Biotech companies spend years developing their first successful drug. And then spend more years turning that first drug into a pipeline of drugs and expanded labels....Wall Street’s hope for the next big thing from the Fed: Yield curve control
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