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The retail job loss river turns into a deluge
Today, Monday, March 31, Macy's (M) announced it will furlough most of its130,000 workers after shutting 775 stores. Kohl’s furloughed 80,000 workers. Gap another 80,000 each. Gannett announced furloughs for newspaper employees who earn more than $38,000. Sysco, the...
Oil hits an 18-year low–worse to come as world runs out of storage
As of noon New York time, today March 30, U.S. benchmark West Texas Intermediate fell another 5.67% to $20.29 a barrel. International benchmark Brent dropped 9.83% to $22.45 a barrel. That's an 18-year low for oil. And worse is yet to come. The world has run out of...
Bulls almost pull the S&P 500 even today, but then late selling kicks in
For a while it looked like bullish investors and traders would manage to pull the market even into the close. That would have been quite a positive feat after a huge 3-ay rally and going into a weekend. At 3:27 p.m.New York time today the Standard & Poor's 500 was...
Stocks sell off in futures market on Fed’s surprise cut to 0% interest rates
Back on March 3 when the Federal Reserve announced an emergency 50 basis point cut in its benchmark interest rate, stock futures slumped and the Dow Jones industrial average was set to open more than 1,000 points lower on Monday. The fear that swept stocks lower was...
Global political leaders roll out bigger guns against coronavirus financial crisis
U.S. stocks soared today as President Donald Trump and other global leaders threw the kitchen sink at the coronavirus financial crisis. The Standard & Poor's 500 closed at the best levels of the day--gaining 9.28%. The Dow Jones Industrial Average finished ahead...
The U.S. hospital system burns while Washington fiddles
The math is very clear and extremely disturbing. The numbers certainly argue that the coronavirus has the ability to crash the U.S. healthcare system--which would leave hospitals and other healthcare facilities conducting triage among patients with serious cases of...
Stocks fall again as WHO declares coronavirus pandemic, White House fails to deliver stimulus plan–no place to hide outside of Treasuries and the yen
As of 1:45 p.m. in New York the Standard & Poor's 500 is down 4.62% and the Dow Jones Industrial Average is off 5.13%. The NASDAQ Composite is lower by 4.40% and the Russell 2000 small cap index, with its heavy load of smaller U.S. oil producers, has lost 5.23%....
Take Wall Street traders complaints of a lack of liquidity today very, very seriously
Money managers are saying that it's increasingly difficult to trade due to a lack of liquidity caused by huge swings in asset prices. “I have yet to find liquidity,” Richard Hodges, a money manager at Nomura Asset Management, told Bloomberg. “There is none.” What this...
Here’s what we know about the date of the next coronavirus spike in U.S.–and the next market panic
So far the United States has tested only about 500 people for the coronavirus. That's why the number of confirmed cases is so low. But U.S. testing capacity is rising quickly. Which is why the number of confirmed cases is climbing. And why it is about to spike. The...
Most likely stock market trend over next two weeks?
Remember, Buy on the rumor; sell on the news. I think that's the most likely pattern for U.S. stocks over the next two weeks. With the 4.6% gain for the Standard & Poor's 500 on Monday, March 2, U.S. stocks regained almost half of the 11% they had lost in the last...
Saturday Night quarterback says (on a Sunday), For the week ahead expect…
... that negative news from the coronavirus pandemic will outweigh positive(?) news on Federal Reserve interest rate cuts on March 18. I remember thinking on Friday first after Fed chair Jerome Powell just about promised an interest rate cut at the central bank's...Jim’s Stock Alerts
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