Morning Briefing
I understand why stocks went up in the face of 20.5 million lost jobs–I just don’t agree
Today the Labor Department reported that the economy lost 20.5 million jobs in April. And yet stocks strongly rallied. The Standard & Poor's 500 closed up 1.69% today, May 8. The Dow Jones Industrial Average was higher by 1.91%. The NASDAQ Composite gained 1.58%....
Another week, another 3.17 million new claims for unemployment, but stocks move higher
Initial claims for unemployment totaled 3.17 million for the week ended May 2, the Labor Department reported today. Economists surveyed by Bloomberg had projected 3 million new claims for the week. This week's total was down from the 3.85 million initial claims filed...
Today’s big job losses in ADP survey don’t bode well for Thursday new unemployment claims and Friday government jobs report
Employment at U.S. companies plummeted in April by the most in records back to 2002, according to numbers fro the ADP Research Institute release today.. The report reflects data through April 12 in order to align with the report from the Labor Department for April,...
Inflation continues to fall; deflation a possibility
The Organisation for Economic Cooperation and Development said annualized inflation across the group of 37 advanced economies slowed to 1.7% in March from 2.3% in February. That's the biggest deceleration since the 2008 global financial crisis. Energy prices fell by...
It’s May–time for a mortgage and rental crisis
By the end of April 3.8 million homeowners had sought mortgage relief and were not making their payments. That's a 2,400% increase from early March, Black Knight, a mortgage technology and data provider, told the Washington Post. The problem may be even worse for the...
So this is volatility! Don’t beat yourself up if you don’t get each day right
On Wednesday, I felt really stupid. I don't believe in this rally. I still think we're due for the bear to come roaring back. And I think the bottom in this market is still somewhere ahead. But on Wednesday April 29, I felt completely WRONG. The Standard & Poor's...
Another 3.8 million new claims for unemployment in past week and job losses shift to white color jobs
The job losses continued, as expected, with 3.84 million people filing new claims for unemployment in the week that ended on April 25. That follows on 4.44 million new claims for unemployment in the prior week. Economists surveyed by Bloomberg had projected 3.5...
So much for the 2014 economic rally: U.S. GDP fell annualized 4.8% in the first quarter
The U.S. economy contracted at a 4.8% annualized pace in the first quarter. That's the worst slide since 2008 and the first down quarter for growth since 2014. Consumer spending, no surprise in days of coronavirus shelter at home orders, led the decline (with a 7.6%...
Are we headed into an era of longterm deflation? Will the Fed say it’s worried about deflation after tomorrow’s meeting?
As long as I can remember (which is only back about 40 years when it comes to the economy) the worry has been inflation. From the stagflation of the late 1970s, to Paul Volcker's brutal but successful assault on inflation in the early 1980s, to the seemingly endless...
The re-opening rally is back on
Today is all about optimism--forget plunging oil prices, uncertain earnings, or a first quarter drop in GDP-- for an upturn in the economy as more states--Colorado is newest to climb on board--re-open parts of their economies. Today, at least, no one is worried,...
Let’s hear it for stability–thank goodness, so far today is dull on the U.S. market
No big moves. No major disruptions. No threats of meltdowns. Today has been a welcome breather, a bit of stability, for  market that's had more than its share of excitement this week. So far. It's only 1:30 p.m. in New York. And we could see selling or buying before...Jim’s Stock Alerts
Download Jim’s eBook for Free
