Why the President’s positive test for coronavirus led to a rally today in airline stocks
Every investor and trader has spent much of today speculating (either in words or dollars) on what President Donald Trump's positive coronavirus test might mean for stocks. The Standard & Poor's 500 closed the day, October 2, down 0.96% and the Dow Jones...
Downward momentum in stocks looks stalled–trend depends on news flow and the dollar
Today, Monday, September 28, as of 1:15 p.m. New York time the Standard & Poor's 500 was up 1.60% to trade at 3352.78. Along with Friday's 1.60% gain in the index, I think that shows the market's downward momentum stalled for the moment. Only for the moment,...
Pfizer to deliver first vaccine efficacy results as soon as September 27–but what, if anything, will they mean?
Pfizer (PFE) and its partner BioNTech (BNTX) plan to take a first look at the efficacy results from their 44,000 personal vaccine trial as soon as September 27. But that first look will be after just 32 coronavirus infections have accumulated in the two companies'...
Trick or Trend: Drop in unemployment rate almost certainly kills new coronavirus aid package in Senate
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. Before...
This rally is built on the Powell Put and, now, the Vaccine Put–what could possibly go wrong?
On September 1 I argued that "Now there are two Puts supporting the market as the Vaccine Put joins the Powell Put." Those two bets--that the Federal Reserve will continue to flood the financial markets with cash and will increase the flow if the markets start to...
Walmart’s caution on an economy without more stimulus
This morning, August 18, Walmart (WMT) reported that comparable store sales climbed 9.3% year over year for the company's fiscal second quarter that ended on July 31. Sales for its e-commerce unit jumped 97% year over year. That was up from growth of 74% in the final...
Saturday Night Quarterback (on a Sunday) says, For the week ahead expect…
...more attention on reports of delays in the clinical trials of new drugs to treat patients infected with the coronavirus. We're starting to hear stories o delays out of the drug companies working on treatments that would enable those stricken with the coronavirus to...
China’s economic recovery slowed by weak domestic demand
In July China's industrial output climbed by 4.8% year over year, Beijing announced today. That's the same rate as in June. This good news in that it shows the post-coronavirus recovery continues in the industrial sector. But it's bad news in that growth isn't...
It’s official: Coronavirus stimulus/rescue talks are dead until September
The Senate officially adjourned today through Labor Day, September 7. The House of Representatives had already been out of season, but now Speaker Nancy Pelosi (D-Calif.) has announced that she will return to California next week. In the negotiations that collapsed on...
Initial claims for unemployment drops below 1 million for last week
The number of workers applying for unemployment benefits from state unemployment programs fell below 1 million for the week ended August 8. At 963,000 the number was below the 1.18 million new claims for the week of August 1. Economists had expected initial claims of...
Congressional coronavirus stimulus/rescue talks are dead–probably until September
House Speaker Nancy Pelosi and Treasury Secretary Steve Mnuchin talked today for the first time since talks on the next coronavirus stimulus/rescue package collapsed on Friday. About the only thing that emerged from today's brief conversation was a consensus that the...Jim’s Stock Alerts
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