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Indictment of China’s Huawei Technologies comes just days before next round in U.S.-China trade talks
The U.S. Department of Justice filed criminal charges Monday against Huawei Technologies, China's biggest technology company. The charges include an allegation that the company stole trade secrets from TMobile and that Huawei committed bank fraud by violating...
Trick or Trend: Now there’s a volatility inversion to worry about
Our regular (or occasional or perhaps occasionally regular) Friday series (actually running on Sunday this week) Trick or Trend looks at what might (or might not) be emerging investible trends. Exclusively on JAM. This post won't run anywhere else. Ever. You've...
Why I can’t put away my bear market worries #4: Consumer sentiment is becoming more negative
Most of the recent sentiment surveys show the same result: While sentiment about current conditions--AKA the present--remains strong, sentiment about conditions 6 to 12 months out is sliding in a pessimistic direction. The recent Bloomberg Consumer Comfort index,...
Why no big drop on truly bad China economic news? Look to the bond market
China and other export-oriented Asian economies delivered really grim news on growth last night and yet U.S. stocks have refused to move into the red. As of 2:20 p.m. New York time on Thursday the Standard & Poor's 500 index was up 0.07% The NASDAQ Composite was...
Markets blow a raspberry to Christmas–and Mnuchin
And Merry Christmas! to you too. The stock market delivered a lump of coal on Christmas Eve. (Does this mean the financial markets are part of the dastardly war on Christmas? Say it ain't so, Goldman Sachs!) The Standard & Poor's 500 index closed down 2.71% at...
Worst of both worlds from the Federal Reserve stokes continued selling
Yesterday, the Federal Reserve delivered the worst of both world's, as far as Wall Street is concerned. And the 25 basis point increase in benchmark interest rates doesn't even count--since that was what the market was expecting. First, the Fed drew attention to...
How will the President Trump wild card play out in the stock market this week?
Maybe that should be "wild cards." First, there's President Donald Trump's threat to shut down about 25% of the government on December 22 if Congress doesn't include $5 billion for his border wall in its bill to fund such government units as the Department of Homeland...
News from the White House derails today’s rally attempt
Sometimes it's hard to draw a connection between what the market is doing and anything in the news. Sometimes it's not quite so difficult. Today the connections have been crystal clear. Markets started off in rally mode after Monday's selling. The Dow Jones Industrial...
U.S. stocks roar back this afternoon–what’s that all about?
U.S. stocks after being deep in the red this morning, came roaring back this afternoon. Or at least technology shares did. The Standard and Poor's 500, which had been as low as 2583 today, climbed back to close at 2637. The swing from high of the day to low was a huge...
Markets worry about everything this morning–especially bank and energy stocks
I dare you to find something global financial markets aren't worried about. And, moreover, many of the worries are re-enforcing each other today. So, for example, we've got U.S. Trade Representative Robert E. Lighthizer, saying on Sunday TV the the 90 day trade truce...
OPEC cuts production by more than expected–but markets are increasingly less impressed as the day advances
To the surprise of many, OPEC & Friends--what's known as OPEC+--agreed to cut production by 1.2 million barrels a day beginning in 2019. This was a bigger cut than the 1 million barrels a day that commodity markets had expected. Oil prices and oil stocks initially...Jim’s Stock Alerts
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