S&P 500 drops 15% for the week
Let me emphasize that "for the week." The storm of bad news continued today with the European Union saying that the 2020 recession in that bloc may be as bad as 2009. Goldman Sachs warned that the U.S. economy may shrink 24% year over year in the second quarter. Oil...
2351–the 2018 Christmas low–holds for another day
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Number of U.S. diagnosed coronavirus cases doubles from Tuesday–but don’t panic. Seriously don’t panic
The number of confirmed coronavirus cases in the United States doubled Thursday compared with two days before. On Tuesday there were 5,700 confirmed coronavirus cases in the United States. Today, March 19, that number rose to 11,500. Some of that is undoubtedly...
Workers are losing jobs at a faster than expected pace–and the layoffs are still accelerating
This morning the Department of Labor announced that new claims for unemployment for the week ending March 14 climbed to 281,000. That was up from 211,000 in the prior week. And much worse than the 220,000 projected by economists. The worst news is that this spike in...
Next big date for another dose of negative market sentiment? March 31
A casual walk to the grocery store this morning revealed a number of small coffee vendors and noodle shops in my neighborhood had gone a step beyond New York City's order to close restaurants and bars and coffee shops except for take out and delivery orders. These...
Is this the first “bottoming” in the coronavirus bear?
Bear markets typically require multiple bottoms--with rallies often of considerable dimension in between--before they set a final bottom. It wouldn't be surprising, for example, to see a 30% drop with signs of a bottom followed by even a 10% to 20% rally. Which would...
More liquidity from the Fed helps reassure financial markets
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...A ban on all domestic flights is on the table at the White House
According to acting Department of Homeland Security secretary Chad Wolf, the Trump administration is considering"all options" to curb the coronavirus outbreak in the U.S., including an outright halt to domestic air travel. Meanwhile some airline analysts are talking...
CDC urges nationwide halt to gatherings of more than 50 people for the next eight weeks
Well, that's worse than many of us were willing to contemplate. Today, Sunday, March 15, the Centers for Disease Control and Prevention urged a nationwide halt to gatherings of more than 50 people for the next eight weeks because of the coronavirus pandemic. For the...Think the Fed got everyone’s attention with a Sunday night interest rate cut to 0%?
On Sunday night the Federal Reserve announced that it would cut interest rates to 0% (actually a policy range of 0% to 0.25%) from the current 1.00% to 1.25% range. The central bank will also resume its program of quantitative easing by buying at least $700 billion in...Trick or Trend: Two schools of thought on how long the coronavirus economic disruption will last
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. I'm sure...Jim’s Stock Alerts
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