Morning Briefing
Unsustainable debt a danger? But it’s so far away, the markets say
Nobody wants to hear that U.S. government and consumer debt aren't sustainable. Not President Donald Trump. Not the financial markets. Today, February 11, Federal Reserve Board Chair Jerome Powell told the House Financial Services Committee that it was important to...
Supply chain disruptions from coronavirus worse than earlier projected
Workers at Hon Hai Precision Industry (also known as FoxConn) were originally to be back at work at Apple's (AAPL) largest manufacturing partner for iPhones today February 10. Then last week the company told workers to stay away from its Shenzhen headquarters until...
Here’s why U.S. economy added 225,000 jobs in January, well above projections, but U.S. stocks closed down
The U.S. economy added 225,000 jobs in January, well above the average 175,000 jobs added per month in 2019. And still markets fell. The Standard & Poor's 500 dropped 0.54% and the Dow Jones Industrial Average closed down 0.94%. The NASADAQ Composite slipped by...
Wall Street salivating over tomorrow’s official jobs report after strong ADP numbers
The ADP Research Institute report on private payrolls, released yesterday, showed a gain of 291,000 jobs in January. That blew away economist forecasts for 157,000 net new jobs in the month, according to Bloomberg's survey of economists. The January gain would be the...
Markets decide coronavirus vaccine is just around the corner–is this a fear of missing the virus bottom rally?
Stocks took off out of the gate this morning on reports on Chinese television that said a drug being tested by researchers at Zhejiang University in China was effective against the virus. That speculation got further traction on news that China had started a clinical...
Markets climb–it looks like short-covering to me
As of 1 p.m. in New York the Standard & Poor's 500 was up 1.61% and the Dow Jones Industrial Average was ahead 1.59%. The NASDAQ Composite had climbed 1.94% and the Russell 2000 small cap index had gained 1.68%. Overseas the iShares MSCI Emerging Markets ETF (EEM)...Shanghai stocks close 7.72% lower; damage today is limited to China holiday catch up
Selling in Shanghai and Shenzhen A shares, which trade on those two mainland China exchanges with limits on overseas ownership, drove prices on those two exchanges lower today with the Shanghai Composite down 7.72% and Shenzhen A shares down 8.41% at the close. This...
Apparently no U.S. investor or trader wants to hold over the weekend
As of 3 p.m. in New York today, the Standard & Poor's 500 was down 1.56% and the Dow Jones Industrial Average was lower by 1.89%. The NASDAQ Composite was holding up better with only a 1.27% drop. The small cap Russell 2000 continued as the weakest of the major...
GDP up at 2.1% rate in 4th quarter but weakness emerges (or continues) in the numbers
The U.S. economy grew at a 2.1% annualized rate in the fourth quarter. That matches the growth rate for the third quarter and is slightly above the 2% growth predicted by economists surveyed by Bloomberg. Full-year GDP growth finished at 2.3% in 2019, the lowest of...
Last 8 hours to nominate: Thinking of selling AMD, FB, DIS or anything else–here’s your chance to find out what I think on the stocks YOU care about
About 10 days ago I posted my Special Report on Selling: When to sell, What to sell. Since then I've posted sells on Skyworks Solutions, Xilinx, and Cirrus Logic. And there are more sells to come from my portfolios in the next few days. But what about the stocks YOU...
Financial markets today all about spread of the coronavirus
China has clamped travel restrictions on 40 million people on the eve of the Lunar New Year's holiday in an effort to contain an outbreak of a respiratory virus that has killed at least 39 people in the country. France has reported the first two cases in Europe U.S....Jim’s Stock Alerts
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