December 27, 2022 | Daily JAM, Morning Briefing |
As of 2:30 p.m. New York time today, December 27, shares of Tesla (TSLA) were down 8.59%. Domestic Chinese electric vehicle maker NIO (NIO) was down 8.71%. The problem for both companies? The new wave of Covid has cut demand in the Chinese market and forced the shutdown of production at the companies’ factories.
October 11, 2022 | Daily JAM, TSLA, Volatility |
Even before the Biden administration launched a new U.S./China trade war by imposing restrictions on U.S. exports of advanced chip technology, Tesla (TSLA) was facing a sales slowdown in China. Now, with what I regard as the near certainty that Tesla will be one of the choice targets in any Chinese retaliation, I think it’s time to sell Tesla and get out of the way of what looks like a truly nasty tit-for-tat war of sanctions and restrictions. Tomorrow, October 12, I’m selling Tesla out of my Volatility Portfolio with a loss of 63.74% since I added it to the portfolio on November 10, 2021, near what would turn out to be the high before the onset of today’s Bear Market for technology stocks.
May 16, 2022 | Daily JAM |
Industrial output unexpectedly fell 2.9% in April from April 2021, China’s National Bureau of Statistics reported today. Retail sales contracted 11.1%. Economists had projected a 6.6% drop. The unemployment rate climbed to 6.1% and the youth jobless rate hit a record. Monday’s data suggests China’s gross domestic product declined 0.68% in April from a year ago, the first contraction since February 2020,
September 15, 2021 | Daily JAM, Morning Briefing |
Retail sales rose just 2.5% in August from a year earlier, China’s National Bureau of Statistics reported today. The estimate from economists surveyed by Bloomberg was for 7% year over year growth. Retail sales grew at an 8.5% pace in July. Industrial production was up 5.3% year over year, down from a 6.4% rate in July. Fixed asset investment grew by 8.9% in the first eight months of the year from the same period in 2020. Economists were looking for 9% growth. Construction investment contracted by 3.2% in t5he first eight months of 2021 from that period in 2020 as the government tightened controls on risky money accounts used to finance property development.
September 26, 2019 | Daily JAM, Morning Briefing |
No big bad news story from China this morning, but the news trend continues to emphasize the downside. For example, this morning a U.S. official said the U.S. is unlikely to extend a waiver allowing American firms to supply China’s Huawei Technologies with technology...
September 17, 2019 | Daily JAM, Short Term |
The assumption in Chinese financial markets has been that if the data showed the Chinese economy slowing further, the People's Bank would ride to the rescue with increased stimulus. Well, the data did it's part on Monday. Industrial output rose just 4.4% year over...
July 15, 2019 | Daily JAM, Morning Briefing |
Of course, we can't trust China's official GDP statistics. Government economists cook the books so that China's growth stays within the goals set by the country's leaders every year. But investors should pay attention to the trend. And this quarter the trend is...
March 5, 2019 | Daily JAM, Mid Term, Morning Briefing |
Against the setting of the National People's Congress, which opened today, China's leaders announced that the growth target for the economy in 2019 would be 6%-6.5%, down slightly from the 2018 target of 6.6%. That dip is significant since the Chinese Communist Party...
March 1, 2019 | Daily JAM |
As of the close on March 1, the Shanghai Composite was up 14.35% for the last month. That's super for an economy that's swimming in bad debt and facing a slowing global economy and lagging export demand. I think it's fair to say that the rally in Chinese stocks has...
January 28, 2019 | Daily JAM, Morning Briefing, NVDA |
Disappointing earnings from Caterpillar (CAT) and an earnings warning from Nvidia (NVDA) sent stocks down this morning, negating overnight enthusiasm in Asian markets at the end of the partial shutdown of the U.S. government. The miss from Caterpillar took those...
January 21, 2019 | Daily JAM, Morning Briefing |
The growth rate for China's GDP slowed to 6.4% in the fourth quarter, government data showed today. That's the slowest rate of growth since 2009. (GDP growth in the third quarter was 6.5%.) For all of 2018, China's economy grew by 6.6%. That hit government targets and...
January 3, 2019 | Daily JAM, Morning Briefing, Short Term |
Last night's warning from Apple that sales for the December quarter would be well below the company's earlier guidance bled into a weaker than expected reading this morning  from the Purchasing Managers Index for the Manufacturing sector. The ISM Manufacturing Index...
