December 11, 2018 | Daily JAM |
First, the United States puts pressure on Canada to arrest Huawei's Chief Financial Officer Meng Wanzhou on U.S. charges that she mislead multinational banks about Iran-linked transactions, putting the banks at risk of violating U.S. sanctions. Then, various...
December 11, 2018 | Daily JAM, Morning Briefing, Short Term, Volatility, You Might Have Missed |
Sometimes it's hard to draw a connection between what the market is doing and anything in the news. Sometimes it's not quite so difficult. Today the connections have been crystal clear. Markets started off in rally mode after Monday's selling. The Dow Jones Industrial...
December 10, 2018 | Daily JAM, Morning Briefing, Volatility, You Might Have Missed |
I dare you to find something global financial markets aren't worried about. And, moreover, many of the worries are re-enforcing each other today. So, for example, we've got U.S. Trade Representative Robert E. Lighthizer, saying on Sunday TV the the 90 day trade truce...
December 9, 2018 | Daily JAM |
... a week of transition in the financial markets as the debacle of the post-Trump-Xi announcements moves further behind in the rear view mirror and the December 19 meeting of the Federal Reserve looms ever larger ahead. Last week, doubts that the Chinese had actually...
December 7, 2018 | Daily JAM, Short Term |
This morning the November jobs report came in softer than expected--and that pretty much removed the last factor pushing the Federal Reserve toward aggressively raising interest rates in 2019. For November the economy added 155,000 jobs. That is still a strong...
December 4, 2018 | Daily JAM, Mid Term, Volatility, You Might Have Missed |
It's hard to take a step back on a day when the Dow Jones Industrial average closed down more than 700 points (and 3.10%), but that's exactly what I'm going to suggest. The huge sell off was driven by three major factors in my opinion. First, the U.S. stock market...
December 3, 2018 | Daily JAM |
Auto stocks rallied big on Monday after President Donald Trump tweeted that China had agreed to "reduce and remove tariffs on cars coming into China from the U.S." China had raised tariffs on U.S. auto imports to 40%, while cutting tariffs on cars from other...
December 2, 2018 | Daily JAM, Morning Briefing, You Might Have Missed |
The results are good enough. At their dinner meeting at the Group of 20 meeting in Buenos Aires U.S. President Donald Trump and Chinese President Xi Jinping made enough progress to take more of the risk of a U.S.-China trade war out of global financial markets. I...
December 1, 2018 | Daily JAM |
... nothing to matter as much as the progress/no progress read on the results of the Saturday night dinner in Buenos Aires between U.S. President Donald Trump and Chinese President Xi Jinping. If the participants announce "progress" and the financial markets find that...
November 29, 2018 | Daily JAM, Morning Briefing, Short Term |
China's purchasing managers index (PMI) for the manufacturing sector continued to slump in November, overnight data showed. The index dropped to 50, the level that marks the divide between expansion (above 50) and contraction (below 50.) The new export orders...
November 29, 2018 | Daily JAM |
Investors in U.S. stocks couldn't figure out how to position themselves ahead of the Saturday meeting between Presidents Donald Trump and Xi Jinping so finally stocks didn't move much at all on the day. The Standard & Poor's 500, which opened the day at 2727.97,...
November 27, 2018 | Daily JAM, Morning Briefing, Short Term |
It's not surprising that Monday's bounce has taken a breather today. As of 2 p.m. New York time the Standard & Poor's 500 is ahead a scant 0.12% and the Dow Jones Industrial Average has picked up 0.10%. The NASDAQ Composite has gained 0.09% and the small cap...
