OPEC advisory group recommends cut of 1.3 million barrels a day to December 6 oil cartel summit
It’s only an advisory group with no decision-making power, but the recommendation from the Organization of Petroleum Exporting Countries Economic Commission Board is the first step in changing production policy at OPEC & Friends. Today the group told OPEC...
China’s banking system springing leaks all over
Take your pick. Either story shows the deep stress in China’s banking system at a time when China’s economy is already slowing. Story 1: After trying to regulate the Peer to Peer lending industry, Beijing has decided to shut down most of the $176 billion...
Jubak Picks member Salesforce beats on earnings, raises guidance for 2019 and 2020
Salesforce (CRM) started today to the upside based on last night’s earnings beat of 11 cents a share. Salesforce shares were up 4.57% as of noon New York time today. And then came the market-wide bounce after Fed chair Jerome Powell’s speech suggesting...
Fed’s Powell speaks softly; stocks roar higher
Sometimes the market hears what it wants to hear and then storms higher (or lower) on what is little more than a hint. In the short run that doesn’t much matter since the oftentimes huge gains are real and investors can and do take them to the bank. In the...
Ionis Pharmaceuticals showing strong recovery on research pipeline, tweaking price target higher
It’s been a wild 2018 for Jubak Picks portfolio stock Ionis Pharmaceuticals (IONS.) Right now, though, the shares are on an upward trend. That’s likely to continue with the company looking at a strong research presentation at the December 1-4 meeting of...
One more for the list: ECB starts countdown to euro decision on December 13
On December 13 the European Central Bank will decide whether to cap its $2.9 trillion program of bond buying as planned. The bank had decided that Europe’s economy was strong enough for the central bank to wind down its purchases of bonds that have kept interest...
The market waits to hear what Trump and Xi will say over the weekend
Nothing will be as important this week to the financial markets as the meeting between U.S. President Donald Trump and Chinese President Xi Jinping during the November 30-December 1 summit of the Group of 20 in Buenos Aires. Ahead of the weekend meeting days when the...
Have a great Thanksgiving!
Do all your favorite things with your family–bicker over politics, watch too much sports, forget the name of your youngest cousin–and give thanks for all we have. I’ll be back posting on Monday.
What’s ahead for this market? Does it turn into a true bear?
If you own any of the big technology stocks that led the U.S. higher in the first eight months of 2018, the losses over the last six weeks sure make this feel like a bear market. Remember that the classical definition of a bear market is a drop from the high of 20% or...
Retail doesn’t ride to the rescue today–Target and Kohl’s send sector lower
The hope among some in the Wall Street crowd was that today’s earnings reports from retailers such as Target (TGT) and Kohl’s (KSS) –and especially guidance for the Christmas shopping quarter to come–would end the plunge in the U.S. stock...
So much big picture uncertainty
For this short holiday trading week, I’m expecting volatility in asset classes that range from oil to stocks to the U.S. dollar, as traders and investors try to figure out how to “price in” a metric ton of macro uncertainty scheduled for the next...
Stocks that led the market up are now leading it down
Today Apple (AAPL) fell 3.96%. Facebook (FB) was down 5.72%. Amazon (AMZN) lost 5.09%. Netflix (NFLX) tumbled 5.45%. The big technology stocks that led the market up to historic highs are leading this fall off on a combination of general market nervousness and...
Second Fed voice sounds cautious note on global growth, pace of interest rate increases
The Fed is sounding less aggressive about raising interest rates in 2019. Today, Friday, November 16, Federal Reserve Vice Chairman Richard Clarida said that the Federal Reserve has to factor the possibility that the global economy is slowing into its decision on how...
Are the Saudis angry enough at President Trump to push OPEC to bigger than expected production cuts on December 6?
This is important–if very, very speculative–if you’re trying to figure out if OPEC will cut production by enough to end the oil bear market when it holds its regular meeting on December 6. Today Reuters is reporting that Saudi Arabia is extremely...
Market stumbles on trade news
Oil prices are up today with U.S. benchmark West Texas Intermediate ahead 2.07% to $56.84 a barrel as of 11:30 a.m. in New York. International benchmark Brent crude has gained 2.23% to $66.93 a barrel. Both prices remain below the psychologically important $60 a...
Oil plunges again–what’s next?
Oil prices went into free fall today, continuing the bear market in the commodity. U.S. benchmark West Texas Intermediate fell 7.73% on the day to $55.30 a barrel. International benchmark Brent dropped 7.05% to $65.18 a barrel. Yesterday oil had rallied on news out of...
Mixed news in Alibaba’s new Singles’ Day sales record
The 10th annual Singles’ Day sales frenzy on November 11 resulted in a new record at China’s Alibaba (BABA) for one-day sales of $213.5 billion yuan ($30.7 billion.) This year merchandise sales for the world’s largest off-line and on-line shopping...
If you’re worried about the Credit Crunch, then Ford debt nearing junk status is a bad sign
I’ve written more than once about my conviction–and consequent worry–that we’re headed for a global credit crunch sometime in the next three to four years. I’m looking for the kind of Minsky Moment that sees financial markets go into...
Another sign of coming inflation to worry the Federal Reserve
The 3.1% year over year growth in average hourly wages reported for October is, by itself, enough to convince the Federal Reserve that an increase in inflation, long awaited with concern, is visible on the horizon. Today’s jump in the Producer Price Index (PPI)...
50 Best Stocks Portfolio pick Pioneer Natural Resources gives back a bit of its post earnings pop
On Monday, after the close of the New York market, Permian Basin oil shale power Pioneer Natural Resources (PXD) reported third quarter earnings of $2.07 a share, 39 cents a share above the Wall Street consensus projection. Revenue climbed 112.2% year over year to...
What’s a divided Congress mean for the stock market?
To mangle Tolstoy: “All one-party Congresses are alike; each divided Congress is divided in its own way.” Today the U.S. stock market is in love with yesterday’s election results. Those results removed uncertainty. Eliminated the chance–slight though it...
China’s Xi pushes back on trade deal
Remember last week when markets got all optimistic at the possibility that U.S. President Donald Trump and China’s President Xi Jinping would be able to hammer out an end to the U.S.-China trade deal when they meet at the Group of 20 meeting in Buenos Aires on...
Buying shares of small caps ETF for my Jubak Picks Portfolio today
In my Special Report “How to Protect Our Portfolio Without Selling Your Portfolio” (available to subscribers to my JubakAM.com site) I made the iShares Russell 2000 ETF (IWM) my third Portfolio Protection Pick. Today I’m adding it to my Jubak Picks...
How could Apple be so stupid?
Let’s see. You’re a company running into serious global headwinds in a maturing (or mature market) that are raising huge doubts about your ability to increase unit sales quarter to quarter for your core product. You: a) Grimly admit that unit sales are...
Return of buybacks enough to put floor under U.S. stocks
Part–but certainly only part–of the weakness in U.S. stock prices in October came from the blackout period on companies buying back their own shares. Many companies have self-declared buyback blackout periods running from a couple of weeks before the...
News reports on U.S.-China trade talks play bigger in Asia than in U.S.
News reports that President Donald Trump has ordered staff to prepared a potential trade offer ahead of his talks with China’s president Xi Jinping on November 30-December 1 sent Asia markets and currencies soaring in the overnight session. U.S. stocks and bonds...
Buy Salesforce My Newest Big Thing Stock for Jubak Picks Portfolio
My apologies that I didn’t get this post up last night but I had a short, strange, and very scary attack of vertigo at the end of my working day and missed that deadline. Everything seems to be fine today so here’s the post. When I added Salesforce.com...
Optimism on China trade talks drives U.S. stocks higher
This morning at least a tweet from President Donald Trump is the most important factor moving U.S. stocks higher. In his tweet President Trump said he had had a productive conversation with Chinese President Xi Jinping on trade. “Those discussions are moving...Jim’s Daily Email Alerts:
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