November 5, 2020 | Morning Briefing |
Today, November 5, the Federal Reserve’s Open Market Committee decided to keep the target for the federal funds interest rate in the 0% to 0.25% range where it’s been since March. And to continue bond purchases at the current rate of $120 billion a month.
In other words no change to monetary policy from the Fed.
But the central bank continues to stress the need for fiscal support in the form of another coronavirus stimulus bill from Congress. “I think we’ll have a stronger recovery if we can just get at least some more fiscal support,” Powell told reporters Thursday. “The recent rise in new Covid-19 cases, both here in the United States and abroad, is particularly concerning.”
November 5, 2020 | Daily JAM, Morning Briefing |
Today, November 5, the Federal Reserve's Open Market Committee decided to keep the target for the federal funds interest rate in the 0% to 0.25% range where it's been since March. And to continue bond purchases at the current rate of $120 billion a month. In other...
November 4, 2020 | Daily JAM, Morning Briefing |
As of 2 p.m. New York time today the Standard & Poor's 500 was up 2.99%. The Dow Jones Industrial Average was ahead 2.38%. The NASDAQ Composite had jumped a huge 4.16% and the NASDAQ 100 was up an even stronger 4.69%. The iShares MSCI Emerging Markets ETF (EEM)...
November 2, 2020 | Daily JAM, Morning Briefing |
To my way of thinking, investors and traders got ahead of themselves today. With election day still a day away, stocks in economically sensitive sectors moved up while stocks of the technology companies that have been able to show revenue growth even during the...
October 30, 2020 | Daily JAM, Morning Briefing, Short Term, You Might Have Missed |
The Standard & Poor's 500 closed down 1.21% today and the Dow Jones Industrial Average dropped 0.59%. The NASDAQ Composite was lower by 2.45% and the NASDAQ 100 fell 2.54%. The Russell 2000 small cap index tumbled by 1.96%. The rising tide of new coronavirus...
October 29, 2020 | Daily JAM, Morning Briefing, Short Term, Volatility, You Might Have Missed |
As of the close today, October 29, the Standard & Poor's 500 was up "just" 1.17%. (The NASDAQ Composite had gained 1.64% and the Dow Jones Industrial Average had picked up 0.52%) I say "just" because after yesterday's 3.53% drop in the index that move today is a...
October 28, 2020 | Daily JAM, Morning Briefing |
I was going to add more downside protection today but I'm putting any Put or short ETF buying off for a day or so--until I see how disruptive to the current downward trend tomorrow the first read on third quarter GDP, to be released tomorrow before the market open by...
October 27, 2020 | Daily JAM, Morning Briefing, Volatility |
What I like to see--if I'm on the long side of stocks--after a drop like yesterday when the Standard & Poor's fell 1.86% for its biggest loss in a month and the Dow Jones Industrial Average gave up 2.29%--is a bounce that speaks to investors and traders thinking...
October 26, 2020 | Daily JAM, Morning Briefing |
I think the calendar will call the shots in the stock market for the next four to six weeks. And that's why I think momentum has shifted toward sellers rather than buyers. I know that today's drop--the Standard & Poor's 500 closed down 1.86% and the Dow Jones...
October 22, 2020 | Daily JAM, Morning Briefing, Short Term |
New claims for unemployment in regular state programs fell to 787,000 last week. Economists surveyed by Bloomberg had been expecting 875,000 for the week ended October 17. The total showed a drop of 55,000 from the revised figure of 842,000 for the prior week. The...
October 21, 2020 | Daily JAM, Morning Briefing |
Today, Wednesday, October 21, House Speaker Nancy Pelosi continued to express optimism that she and Treasury Secretary Steve Mnuchin would be able to reach a deal on another big coronavirus relief and stimulus package--although a bill is unlikely before election day...
October 20, 2020 | Daily JAM, Morning Briefing, Short Term |
The Standard & Poor's 500 was up by as much as 1.42% at 1:48 p.m. New York time today on hope that House Speaker Nancy Pelosi and Treasury Secretary Steve Mnuchin would agree on a stimulus deal by Pelosi's deadline of the end of today for passing a bill by the...
