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...Positive coronavirus news from Abbot and J&J
Johnson & Johnson (JNJ) said today that it will begin human testing of its experimental vaccine for the coronavirus by September and that clinical data on its effects is expected before the end of the year. If the vaccine works well, the company said it could be...
Will Grupo Aeroportuario del Pacifico cut its dividend at April 28 meeting? Selling out of the Dividend Portfolio
Grupo Aeroportuario del Pacífico (PAC) has postponed its annual meeting until April 28. Th company's stock buyback plan and dividend payouts on the agenda. It's hard to imagine that the company hasn't at least considered cutting its buyback and dividends. Grupo...
The newest Dip-O-Meter: March 30 version
I did my numbers for this newest revision of the Dip-O-Meter on Sunday night so they don't reflect any of today's bounce. Nothing I'm seeing, however, convinces me that this is anything but a bounce in a bear market. For this iteration, I've added four more stocks,...
Watch out for Wall Street strategists bearing optimism
One reason that U.S. stocks are up today in the face of what are likely to be stunningly bad economic reports later this week is that some Wall Street strategists are out today saying that the worst is over and it's time to get back into risk assets such as stocks....
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...
Saturday Night Quarterback (on a Sunday) says, For the week ahead expect…
Some tough news that's likely to produce startling volatility again. Wednesday, April 1, brings the Purchasing Managers' Index from the Institute for Supply Management for the manufacturing sector. Economists are expecting further contraction in the index for March....
Trick or trend: Cruise lines miss bailout bucks and speculators get blind-sided
Our regular (or occasional or perhaps occasionally regular) Friday series (actually running on Saturday 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. Did you...
China’s exports get hit by coronavirus disruption in the rest of the global economy
We won't know until March 31 when he purchasing managers' indexes for China are released but it looks like China will see its first quarterly contraction of its economy in decades and the weakest year since 1976. The problem is that just as Chinese factories are going...
House passes $2.2 trillion coronavirus rescue bill, but coronavirus cases continue to surge
The House of Representatives jumped one last procedural hurdle and sent the $2.2 trillion coronavirus bill to President Trump for his signature. Meanwhile... Italy reported 919 coronavirus deaths in one day, the largest single-day toll reported by any country. The...
Bad news from the real world for today’s stock rally
It's my contention that the economy and the financial markets won't get back to normal until 1) we can see an actual decline in coronavirus cases and deaths in the United States, and 2) companies, seeing at least a stabilization in the pandemic call their employees...Jim’s Stock Alerts
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