So this is volatility! Don’t beat yourself up if you don’t get each day right
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...
Another typical Amazon quarter–revenue beat and earnings miss–despite corona virus
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...
Just what we need right now: Another trade war with China
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...
Another 3.8 million new claims for unemployment in past week and job losses shift to white color jobs
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...
What if the helicopter trillions don’t work this time?
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....
The big financial and economic wildcard–when will there be a vaccine?
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...
The re-opening rally is back on
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,...
Brazil ETF falls 8% today on double blows of political scandal and coronavirus response (or lack thereof)
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...
West Pharmaceutical beats on earnings, revenue, and climbs 10.17% on April 23
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...
“Flop” in remesivir antiviral drug in Chinese trial takes starch out of stocks
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...
So how quickly would Americans resume “normal” activities? New survey gives an answer or two
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...Jim’s Stock Alerts
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