June 10, 2020 @ 7:32 pm | Breaking News |
Could this be the first signs that the financial markets are questioning Goldilocks? Investors and traders heard almost everything they could have hoped to hear from the Federal Reserve’s interest-rate setting Open Market Committee meeting today. Sure, the Fed...
June 10, 2020 @ 7:27 pm | Breaking News, SBUX |
Today, June 10, Â Starbucks (SBUX) CEO Kevin Johnson wrote in an open letter to customers and investors that the company expects to lose more than $3 billion in revenue in its fiscal third quarter, which ends on June 28, due to the coronavirus pandemic. (The company...
June 9, 2020 @ 7:19 pm | Breaking News, Jubak Picks Portfolio, V |
Visa’s ads remind up that the credit card is everywhere you want to be. But that’s actually not true when it comes to payments below $10. In the United States 55% of payments below $10 are still in cash. Visa has targeted that as a huge opportunity for...
June 5, 2020 @ 7:23 pm | Breaking News |
According to the official Labor Department report on jobs and unemployment for May, the economy added 2.5 million workers in the month and the unemployment rate fell to 13.3% (from 14.7% in April.) Economists surveyed by Bloomberg had projected a 6 million drop in...
June 5, 2020 @ 7:19 pm | Breaking News |
The U.S. economy added 2.5 million jobs in May, the Labor Department reported today. The official rate of unemployment fell to 13.3% from 14.7%. In April the economy had shed 20.5 million jobs. Economists were surprised by the gains, to put it mildly. The consensus...
June 4, 2020 @ 7:49 pm | Breaking News |
The Trump administration has identified five companies that will get major government funding for the development of a coronavirus vaccine under Operation Warp Speed, the New York Times reported yesterday. The White House is expected to officially announce the names...
June 4, 2020 @ 7:44 pm | Breaking News |
Initial claims for unemployment for regular state programs totaled 1.88 million for the week ended May 30, according to the Labor Department. (This total does not include self-employed or gig workers that are now receiving unemployment under newly passed coronavirus...
June 3, 2020 @ 7:10 pm | Breaking News, Buy |
As I wrote in my previous post this morning, I like the upward momentum in the biotech sector resulting from the race for a coronavirus vaccine and treatment and the cash flows into the sector from investors and big drug companies such as Pfizer (PFE.) That has pushed...
June 3, 2020 @ 7:04 pm | Breaking News |
On May 29 the iShares NASDAQ Biotechnology ETF (IBB) hit an all-time high of $134.85, breaking the record of $133 set in 2015. Not surprising with money flooding into the sector as everyone and their Aunt Sally looks to find the stock that will rocket to the moon on...
June 3, 2020 @ 7:01 pm | Breaking News |
Tomorrow it’s Thursday and time for another weekly report on initial claims for unemployment. In absolute terms the numbers are likely to be grim. Economists project that tomorrow’s report will show another 1.8 million workers have filed new claims for...
June 1, 2020 @ 7:16 pm | Breaking News |
The Standard & Poor’s 500 stock index may be closing in on the February 19 record closing high of 3386.15–about 11.2% from the Friday, May 29, close at 3044.31, but some Wall Street strategists see more rally ahead–with a close at the end of...
June 1, 2020 @ 7:10 pm | Breaking News |
China has told state-owned companies to halt purchases of soybeans and pork from the United States in response to President Donald Trump’s announcement that his administration would begin the process of eliminating Hong Kong’s special trade status. Chinese...
May 29, 2020 @ 7:28 pm | Breaking News, You May Have Missed |
I think we witnessed the birth of a Trump Put on the stock market in today’s Rose Garden press event that investors and traders can pin beside their terminals along with the Powell Put from the Federal Reserve. Ahead of what had been billed as an announcement...
May 28, 2020 @ 7:11 pm | Breaking News |
The stock market is seeing the glass as half full this morning. This morning the Labor Department reported that 2.12 million Americans filed new claims for unemployment in the week that ended on May 23. That is down from 2.45 million initial claims in the prior week...
May 28, 2020 @ 7:06 pm | Breaking News, Jubak Picks Portfolio, Stock Pick of the Day, XYL |
Xylem (XYL) is that rare coin on raw market–a pure play water stock at a time when foresighted investors are looking for water stocks and realizing how few of them exist. (The basic water story is that Mother Nature isn’t making more of it. Rising global...
May 27, 2020 @ 7:56 pm | Breaking News |
Yesterday’s rally in the Standard & Poor’s 500, which pushed the index back over 3,000, sent the forward price to earnings ratio–that is the PE based on projected earnings per share for the stocks in the index–to 23.36. That’s the...
May 26, 2020 @ 7:50 pm | Breaking News |
This morning what I saw in photos and videos from this past Memorial Day weekend was a country rushing pell mell toward re-opening the economy without a thought for safety amidst a still uncontrolled coronavirus outbreak. I saw photos of crowds at beaches, on board...
May 26, 2020 @ 7:47 pm | Breaking News |
China isn’t the only story out there with market moving potential but it is the “ripest.” We won’t have anything but anecdotal accounts of the collapse of social distancing at events across the country this weekend and we won’t know how...
May 22, 2020 @ 7:33 pm | Breaking News |
The number of borrowers who stopped paying their home loans jumped by 1.6 million last month, according to data from Black Knight, a real estate analytics company. The national mortgage delinquency rate rose to 6.45% in April, up from 3.06% in March. That’s...
May 21, 2020 @ 7:37 pm | Breaking News |
According to the Department of Labor another 2.4 million Americans filed initial claims for unemployment in the week that ended May 16. That puts the total from this report at 38.6 million initial claims for unemployment filed in the last 9 weeks. The two-month total...
May 21, 2020 @ 7:32 pm | Breaking News, GOLD, Jubak Picks Portfolio, Jubak Top 50 Portfolio, Stock Pick of the Day |
I can think of two reasons to buy shares of Barrick Gold (GOLD) now. Either one alone would be enough to justify a “buy.” First, sentiment is shifting among investors toward the idea of buying gold as protraction against currency depreciation. The U.S....
May 20, 2020 @ 7:19 pm | Breaking News, Jubak Top 50 Portfolio, Stock Pick of the Day, TSM |
Announcing a new feature–my stock pick of the day. With Taiwan Semiconductor as my first pick. The hoo ha at the end of last week over restrictions on the sale of U.S. semiconductors to China’s Huawei Technologies, high-lighted the central role that Taiwan...
May 20, 2020 @ 7:04 pm | Breaking News |
Remember how back on April 20 West Texas Intermediate traded at a negative $40.32 a barrel on the futures market? Then the fears were that anyone who owned a forward future and who was forced to accept delivery of that oil would not be able to find a place to store...
May 19, 2020 @ 7:26 pm | Breaking News |
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...
May 18, 2020 @ 7:19 pm | Breaking News, Dividend Income Portfolio, ITW |
My second sell of the day. Way back in November 2019–if you remember a period when projected earnings growth was strong and before the coronavirus recession–I argued for a dividend strategy that focused on companies with fast growing and solidly...
May 18, 2020 @ 7:12 pm | Breaking News, Dividend Income Portfolio, V |
Way back in November 2019–if you remember a period when projected earnings growth was strong and before the coronavirus recession–I argued for a dividend strategy that focused on companies with fast growing and solidly predictable earnings that were, in my...
May 18, 2020 @ 7:07 pm | Breaking News |
As of 1 p.m. New York time today, May 18, the Standard & Poor’s 500 is up 3.17% and the Dow Jones Industrial Average is higher by 3.60%. The NASDAQ Composite has climbed 2.47% and the Russell 2000 small cap index is ahead 5.29%. The iShares Emerging Markets...
May 15, 2020 @ 6:44 pm | Breaking News |
China is ready to put U.S. technology companies such as Apple, (AAPL), Cisco Systems (CSCO), and Qualcomm (QCOM) on its “unreliable entity list.” That would likely result in investigations and economic restrictions on those U.S. companies, according to the...
May 15, 2020 @ 6:41 pm | Breaking News |
U.S. retail sales fell 16.4% in April from March levels, the Commerce Department reported today. March itself had seen an 8.3% month to month drop. Economists surveyed by Bloomberg were looking for a 12% decline. In a separate report from the Federal Reserve today...
May 14, 2020 @ 7:52 pm | Breaking News |
Initial jobless claims totaled 2.98 million for the week ended May 9, the Labor Department reported today. That’s down from last week’s 3.18 million claims and marks a sixth straight week of declines. But the figure was higher than the 2.5 million claims...