Less time than you think before the end of that $600 a week enhanced unemployment benefit
Glibly, I've been saying that the extra $600 a week in unemployment benefits in the coronavirus rescue package will end on July 31. That gives Congress a scant two weeks to act to renew the payments that have helped so many workers through the unemployment caused by...
Market worries that a smaller-than-expected drop in new claims for unemployment portends future downturn in economy
Initial jobless claims in regular state programs totaled a seasonally adjusted 1.3 million in the week ended July 11, down just 10,000 from the prior week, the Labor Department reported this morning. That's the smallest drop in the new claims since March and feeds...
Vaccine hopes drive stock prices higher today–and tomorrow?
U.S. stocks broke strongly higher today as Moderna (RNA) disclosed results from an initial safety trial. Investors also got a report on the ITV.com website that new findings from the vaccine candidate being developed at the University of Oxford could be published as...
Disney parks re-open in Florida as state hits record new coronavirus cases; Hong Kong park closes again
On Sunday, Florida reported the highest single-day total of new coronavirus cases by any state since the start of the pandemic. The 15,299 new cases surpassed the previous high for any state on a single day of 12,274 recorded in New York on April 4. The record comes...Everything was rosy until the last hour
At the high point during the day, the Dow Jones Industrial Average was up 2.2%. It closed with a gain of just 0.1% for the day. The trend wasn't limited to U.S. stocks. The iShares MSCI Emerging Markets ETF (EEM) was up 1.26% at noon New York time but closed off 0.67%...
Special Report: 10 Global Warming Stock Picks–Special Report: 10 Global Warming Stock Picks–6 Stage One picks, my first Stage Two pick
According to John Lennon, "Life is what happens to you while you are busy making other plans." That's also true of the global warming. ("Climate change," if you want, but I prefer "global warming" because heat is the fuel driving climate change whether the change is...
Trick or trend: How much higher can copper run?
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. Back on...
Another day, another market Put: this time it’s remdesivir
Let's count the Puts that are keeping any Bad News Bear from biting this market. Of course, first and foremost there's the Federal Reserve Put (or Powell Put for lovers of alliteration). The Fed has told investors they can expect the current near 0% interest regime to...
Wells Fargo to cut thousand more jobs this year; bank reports earnings on July 14
Wells Fargo (WFC) will cut thousands of jobs later this year, Bloomberg reported today. The bank, the largest employers among U.S. banks, is facing intense pressure to cut costs. So far in the coronavirus economic downturn,U.S. banks have resisted large-scale layoffs....
Saturday Night Quarterback says, For the week ahead expect…
... a lot of data on commodities. You're excused if commodity prices haven't been on the top of mind lately. There have been a few other things to think about. So maybe you've missed some of the big moves in the sector. Copper, for example, has been up for seven...
This is as good as the economy gets–for a while
The U.S economy added 4.8 million jobs last month in June. And the official unemployment rate fell to 11.1%. That's the good news. Unfortunately, the gains in jobs and the drop in unemployment are based on data from a survey that measured conditions in the week ended...Jim’s Stock Alerts
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