April 30, 2021 | AAPL, Daily JAM, Friday Trick or Trend, Jubak Picks, Top 50 Stocks, WH |
When it comes down to company earnings, we’re seeing a huge lag in revenue growth for companies in the service sector. Wyndham Hotels and Resorts (WH),for example, which reported first quarter results today, April 30, saw revenue fall to $303 million in the first quarter of 2021 from $410 in the first quarter of 2020. But, and I think this is the clear implication of the first quarter GDP numbers, those service companies will close that gap in the June quarter as companies open more services–Disney (DIS) opened its California theme parks today, for example–and consumers feel safer in going to theme parks or restaurants or gyms.
March 17, 2021 | Daily JAM, Morning Briefing |
At today’s (March 17) meeting of its Open Market Committee the Federal Reserve held its target interest rate at 0% to 0.25% and continued its commitment to buying $120 billion a month in Treasuries and mortgage-backed assets, as expected. But the central bank’s dot-plot survey showed more slippage on projections of when the Fed will raise interest rates. The majority of the Fed officials polled continued to see no interest rate hikes through 2023. But a larger number than in December–7 out of 18, up from 5–now see the first rate increase coming some time before the end of 2022.
March 10, 2021 | Daily JAM |
In the last few days the yield on the 10-year Treasury note has tumbled from 1.6% on Monday, March 8, to 1.54% on Tuesday to 1.52% today. That’s brought a breather selling that had, by Monday, pushed the NASDAQ Composite index into a correction of around 11% from its February 12 high. Yesterday and today, the market is as relatively calm place. Cyclicals, vaccine recovery stocks, and “value” stocks are outpacing the technology sector and the BIG tech stocks like Apple (AAPL) and Amazon (AMZN) that had paced the move up to the February 12 high aren’t showing up on the leader board. But still–the Dow Jones Industrial Average may be outpacing the NASDAQ Composite today (up 1.57% to 0.31%) but both indexes are in the black. But don’t relax quite yet. I expect volatility will return.
October 29, 2020 | Daily JAM, Morning Briefing, Short Term, Volatility, You Might Have Missed |
As of the close today, October 29, the Standard & Poor's 500 was up "just" 1.17%. (The NASDAQ Composite had gained 1.64% and the Dow Jones Industrial Average had picked up 0.52%) I say "just" because after yesterday's 3.53% drop in the index that move today is a...
January 30, 2020 | Daily JAM, Morning Briefing, Short Term |
The U.S. economy grew at a 2.1% annualized rate in the fourth quarter. That matches the growth rate for the third quarter and is slightly above the 2% growth predicted by economists surveyed by Bloomberg. Full-year GDP growth finished at 2.3% in 2019, the lowest of...
March 1, 2019 | Daily JAM, Morning Briefing, Short Term |
The Institute for Supply Management Purchasing Managers Index for manufacturing fell to 54.2 in February from 56.6 in January. Economists surveyed by Briefing.com were looking for 56 on the index. (On this index anything above 50 signals expansion in the sector; below...
February 16, 2019 | Daily JAM |
...the data calm before the February 28 data storm. Scrambling to recover from a government shutdown that delayed the collection and processing of economic data, the Bureau of Economic Analysis has announced that it won't release the first report on fourth quarter...
October 29, 2018 | Daily JAM, Morning Briefing |
The savings rate dipped in September, the Commerce Department reported this morning. Americans. Americans saved 6.2% of their disposable income, the lowest level since 2013. Incomes grew by just 0.2%, the weakest in more than a year. That's not good news considering...
September 27, 2018 | Daily JAM, Morning Briefing, Short Term, You Might Have Missed |
The U.S. trade deficit in goods grew in August to $75.8 billion, the widest in six months, as exports of food, industrial supplies and autos declined, the Commerce Department reported today. In addition imports of autos and consumer goods increased in the month. A...
September 22, 2018 | Uncategorized |
... excitement? Nah. How about confirmation of what everyone already "knows" from the Federal Reserve. The Fed's interest rate setting body, the Open Market Committee, meets on Wednesday and is widely expected to announce that U.S. central bank will raise short term...
June 13, 2018 | Daily JAM, Short Term |
No surprise here: The Federal Reserve raised its benchmark short term interest rate by 25 basis points to 2% today from 1.75%. It was the second interest rate increase of 2018. But the Fed also signaled that it was more likely to raise rates two more times in 2018 for...
March 14, 2018 | Daily JAM, Mid Term, Morning Briefing |
U.S. retail sales fell for a third straight month in February–down 0.1%. The Commerce Department revised January sales higher than the initially reported 0.3% decline. But that still left January sales down 0.1%. That means that February marks a third consecutive decline in retail sales–the first time that’s happened since April 2012. Economists surveyed by Reuters had forecast retail sales had climbed 0.3% in February.
