May jobs comes in stronger than expected; that should put the kibosh on thoughts of a Fed pause in September
The U.S. economy added 390,000 jobs in May, the Labor Department reported this morning. Economists had expected the economy to add 318.000 jobs for the month. In April the economy added a revised 436,000 jobs. The unemployment rate stayed steady at 3.6%. Economists...
Will today’s huge bounce continue into next week? Here’s my take and recommendations for Monday action
It’s easier to explain why stocks, especially technology stocks, staged a huge rally today, Friday May 13, than to predict whether or not the BIG BOUNCE will continue on Monday. But here’s my take and my recommendation for what to do on Monday....
Inflation fell in April but not by as much as Wall Street had hoped
Inflation, as measured by the Consumer Price Index, fell in April to a year over year rate of 8.3%. That was down from an 8.5% rate in March, raising hopes that the economy had seen the inflation peak. But economists had been projecting a drop to 8.0% in April. Which...
Please watch my new YouTube video: Trend of the week Give ‘Em the Cash
My one-hundredth-and-thirty-second YouTube video “Trend of the Week Give “Em the Cash” went up today. So far, so good this earnings season: oil and natural gas producers are holding the line on capital spending on new production, as they promised,...
Visa’s earnings beat one more sign that post-Pandemic travel is back
After hours on Tuesday, April 26, Visa (V) reported earnings of $1.70 a share. That modestly beat analyst projections of $1.65 a share for the quarter. But it was a big jump from the $1.35 a share in the first quarter of 2021. Visa said payment volumes rose 17% and...
Buying “Recession Pick” Walmart for my Jubak Picks Portfolio
Tomorrow I will add shares of Walmart (WMT) to my Jubak Picks Portfolio. The stock is one of the 12 “Recession Picks” in my current Special Report: A Recession is Coming–Three Portfolio Strategies for a Recession; and 12 Recession Stock Picks on my...
Tesla to split so it’s time to buy Costco
Tesla (TSLA) announced today that it will ask shareholders for permission to split its stock. No news yet on what the ratio of the split will be, but on the news shares of Tesla were up 8.03% at the close today, March 28, to $1,091.84. That split comes on the heels of...
Nvidia beats on earnings and revenue after the close–stock trades flat after pre-earnings run
After the close today, Nvidia (NVDA) reported fourth quarter earnings of $1.32 a share (versus analyst projections of $1.22) and revenue of $7.6 billion (versus expectations for $7.42 billion). As of 4:45 the stock has trading down $1.09 in the after-hours market. In...
Putting on hedges for a Russia-Ukraine conflict today (as in NOW)
I only recommend options on my subscription sites JubakAm.Com and JugglingWithknives.com. And this week on those sites I’ve closed the two VIX CALL Options I bought back on December 31 as protection (and potential profits) from an increase in market volatility...Big banks deliver mixed start to Q4 earnings season with JPMorgan down and Wells Fargo up
Sing along: One of these banks is not like the others. One of these banks doesn’t belong. This morning big money center banks JPMorgan Chase (JPM) and Citigroup (C) delivered disappointing reports on fourth quarter revenue and earnings. Shares of JPMorgan Chase...
Buying Wells Fargo in Jubak Picks ahead of earnings
Wells Fargo (WFC) is scheduled to report fourth quarter 2021 earnings on Friday, January 14. The bank is expected to be one of the few big money center banks to show a significant increase in earnings for the lat quarter of 2021 from the fourth quarter of 2020 (when...
Markets don’t like what they hear in Fed minutes from December
Today, the Federal Reserve released its minutes from its December 15 meeting of its interest-rate setting body the Federal Open Market Committee. Investors and traders didn’t like what they thought they heard–a growing consensus on a first interest rate...
Evergrande shares suspended in Hong Kong; reports say company ordered to demolish 30 buildings
Shares in China Evergrande Group have been suspended from trading in Hong Kong, the property developer announced on Monday. The company did not give a reason. Leaving us to speculate and there’s plenty to speculate with. Evergrande missed new coupon payments of...
10-year Treasury yields pop today
The yield on the 10-year Treasury is up 11 basis points as of 1:30 p.m. New York time today, Monday, January 3, to 1.62%. That’s the first time the yield has been above 1.60% since the emergence of the Omicron Variant in November. The yield on the 30-year...
Consumer price inflation rises more than expected but markets go “So What?”
The Consumer Price Index (CPI) rose 0.6% in March from February, the Labor Department reported this morning. Year over year consumer prices are 2.6% higher than they were in March 2020. Economists had projected that the headline CPI would climb 0.5% in March from...
Nvidia jumps 5.62% today on upgrade to revenue forecast and news of its first microprocessor for servers
Nvidia (NVDA) announced its first microprocessor for the server market today, April 12. Right now Intel (INTC) owns around 90% of the market for server processors, where its chip works in tandem with a graphics chip from Nvidia to handle highly complex computing jobs...
Bond traders speculate that the bond “lull” won’t last long–and that yields will spike again
Today April 6 the yield on the 10-year Treasury is down again–to 1.65%, a drop of 5 basis points. After looking like it was on a short path to breaking 1.90% and threatening 2.00%, the yield on the 10-year Treasury has been stuck in a range of 1.60% to 1.70%....
Look for Q1 and Q2 earnings forecasts to continue the rally
Wall Street is looking for a record quarter for earnings growth for the first quarter of 2021 to keep the stock market trend pointing upward. The first earnings report for the quarter are due from the big banks on April 14 and 15. On April 1 FactSet reported that the...
Fed to end restrictions on bank dividends, share buybacks at end of June
U.S. banks that pass their next stress tests will allowed to raise their dividends after June 30, the Federal Reserve said yesterday, March 25. The Fed will also lift any remaining restrictions on stock buybacks. Limits on dividend payouts to investors and share...
Feared higher inflation doesn’t materialize in February data
The Federal Reserve’s preferred inflation measure, the Personal Consumption Expenditures (PCE) Price Index fell 0.2% month to month in February from January. That was below economist expectations of a 0.5% month to month gain. On a year over year basis, the...
Rotation turns to general selling
At 11:07 a.m. today the Standard & Poor’s 500 was up 0.80%. At the close it was down 0.55%. Same picture for the small cap Russell 2000 index. Up 1.65% at 10:54 a.m. New York time. Down 2.26% at the close. What looked like one of the rotation markets...
Jubak Picks recommendation Applied Materials blows out the quarter and raises guidance
Given how strong the earnings beat was for the last quarter and how big the increase in guidance was for the next quarter from Applied Materials (AMAT) after the market close last night (February 18) today’s stock gain of 5.19% was actually rather modest. For...
Ho, hum: Another day another stock market record
Stocks climbed for a sixth straight day–the longest string of gains for the Standard & Poor’s 500 since August and with the Dow Jones Industrial Average turning in its best start for a February since 1931. The S&P 500 finished the day ahead 0.34%...
GameStop Reddit trade plunges; money seeks new plays
As of 3:15 p.m. today, February 2, in New York, shares of GameStop (GME)were down 56.22% to $98.50. That a big drop from the January 27 closing high o #347.51, but it’s still significantly above th $17.25 price on January 4. Other stocks that have ridden the...
The big coronavirus vaccine story today is out of China–just before the start of the Lunar New Year travel season
A coronavirus vaccine developed by Chinese drugmaker Sinopharm is 79% effective in protecting people from the coronavirus, according to interim data released Wednesday by the company Sinopharm.. The results for the two-shot vaccine were based on interim analysis from...
This market is way, way too complacent
The VIX, the CBOE S&P 500 Volatility Index, gained 11% today to close at 26.03. But the index, which measures how much investors and traders are wiling to pay in the options market to hedge risk on the Standard & Poor’s 500 index of stocks looking out...
Hey Wall Street! This isn’t your father’s gridlocked government
With Democrat Joe Biden seeming to be on the road to a victory in the Presidential vote and with Republicans remaining in charge of the Senate (unless Democrats can sweep two run-off votes in Georgia in January–unlikely, in my opinion) and with Democrats...
Stocks continue to sell off as market sees coronavirus lockdown fears coming true
The Standard & Poor’s 500 closed down 1.21% today and the Dow Jones Industrial Average dropped 0.59%. The NASDAQ Composite was lower by 2.45% and the NASDAQ 100 fell 2.54%. The Russell 2000 small cap index tumbled by 1.96%. The rising tide of new...
Market overlooks GDP headlines today–mostly
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%...Jim’s Daily Email Alerts:
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