Treasury Secretary Mnuchin tells Congress what Trump administration expects from the economy
In testimony before the House of Representatives this week Treasury Secretary Steve Mnuchin said that the Trump administration believes that the U.S. economy will recover extremely quickly. He forecast growth of 17% in the third quarter and 9% in the fourth later....
Trick or trend: The re-opening economy hits a speedbump or three
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. If you're...
Weekly new claims for unemployment drop again–but at slower than expected pace
If the contests between the stock market--which sees a rapid V-shaped recovery for the economy--and the Federal Reserve--which sees a slow recovery very stretching over two years, today's report on New Claims for Unemployment comes down on slow recovery side. Initial...
Retail sales soar in May; Wall Street decides it’s a sign of a V-shaped recovery for the economy
May retail sales surged 17.7% from April. The pickup was a record month over month gain in data going back to 1992, the Commerce Department reported this morning. Stocks jumped on the news--as well as a trial balloon testing the waters on yet another attempt at a big...
A near-term threat to the V-shaped recovery
Stock prices--3068.76 on for the Standard & Poor's 500 as of 1 p.m. New York time today--continue to climb toward the all-time closing record for the S&P 500 at 3386.15 set on February 19. That makes some sense if you believe that the Federal Reserve will...
Even after yesterday’s rip-roaring gains, the S&P 500 is stuck–so what comes next?
Yesterday, May 18, the Standard & Poor's 500 closed at 2953. We've been here before. Several times, in fact. On May 8, the index closed at 2929.80. On April 29, the close was 2939. With the 200-day moving average at 2998.,56, even yesterday's big move doesn't...
MGM looks like a good test case as Wall Street debates V- or U-shaped recovery from the coronavirus
Shares of MGM resorts International (MGM) fell 11.59% today, Thursday March 5, to close last $20.60. The shares closed at $31.21 at their 2020 high on January 17. The impetus for the latest big drop in the stock was the announcement of the first reported case of the...Download Jim’s eBook for Free
