May 4, 2020 | Daily JAM |
The Trump administration is rattling the trade war sword in its scabbard again. And offering so many reasons for slapping new or resuming old tariffs on China. One reason would be to retaliate for what administration officials say is China deception, mismanagement,...
May 1, 2020 | Daily JAM, Morning Briefing, Volatility, You Might Have Missed |
On Wednesday, I felt really stupid. I don't believe in this rally. I still think we're due for the bear to come roaring back. And I think the bottom in this market is still somewhere ahead. But on Wednesday April 29, I felt completely WRONG. The Standard & Poor's...
April 30, 2020 | AMZN, Daily JAM, Stock Alerts |
Amazon reported first quarter earnings today and fell $1.10 a share short of Wall Street estimates for $5.01 a share (GAAP earnings). That was a 30% year over year decline. Revenue, however, of $75.5 billion was up 26.5% year over year and beat estimates by $1.41...
April 30, 2020 | Daily JAM |
Senior Trump administration figures are to meet today to begin mapping out a strategy for retaliating against China for its handling of the coronavirus pandemic, the Washington Post reports, citing four senior administration officials as sources. In recent days...
April 30, 2020 | Daily JAM, Morning Briefing |
The job losses continued, as expected, with 3.84 million people filing new claims for unemployment in the week that ended on April 25. That follows on 4.44 million new claims for unemployment in the prior week. Economists surveyed by Bloomberg had projected 3.5...
April 29, 2020 | Daily JAM |
Drop money from the sky. Lots and lots of it. Enough to shock a struggling economy out of a deep slump. Milton Friedman coined the term. In Friedman's scenario the helicopters appear unexpectedly ( I don't know if they play Wagner) and just dump money on the economy....
April 27, 2020 | Daily JAM |
Nothing else will matter very much--not a huge drop in first and second quarter GDP that's bad enough to qualify as a recession, not even a resurgence in the rate of coronavirus infections in states and countries that dropped their social distancing restrictions too...
April 27, 2020 | Daily JAM, Morning Briefing |
Today is all about optimism--forget plunging oil prices, uncertain earnings, or a first quarter drop in GDP-- for an upturn in the economy as more states--Colorado is newest to climb on board--re-open parts of their economies. Today, at least, no one is worried,...
April 24, 2020 | Daily JAM, EWZ |
As of the close on April 24, the iShares MSCI Brazil Capped ETF (EWZ) was down 7.71% today t0 $22.15. Brazil is facing an intertwined crisis as a president who has called the coronavirus pandemic a "fantasy" also struggles with a political crisis that threatens his...
April 23, 2020 | Daily JAM, Stock Alerts, WST |
West Pharmaceutical (WST) reported first quarter earnings of $1.01 a share on Thursday, April 23. That beat Wall Street estimates by 19 cents a share and was up 36% year over year. Revenue of $491 million for the quarter was up 10.8% year over year and exceeded Wall...
April 23, 2020 | Daily JAM |
The Financial Times reported that a Chinese trial for Gilead Sciences's (GILD) antiviral drug remdesivir against Covid-19 ended without meaningful conclusions on its efficacy. That was enough to reverse the gains in the Standard & Poor's 500 on the day. The index...
April 23, 2020 | Daily JAM |
A new survey from CBS News shows that most Americans would be reluctant to head out to former activities even if stay-at-home orders were lifted now. Only 13%, for instance, would be comfortable going to a large sports or entertainment event if a stay-at-home order...
