Wall Street dips as present (retail sales) stinks and future (vaccines and stimulus) disappoint
The present–or more precisely the very recent past–didn’t look so good this morning, January 15. U.S. retail sales declined by 0.7% in December and the Commerce Department revised November to a drop of 1.4%. The unadjusted blue of sales rose by just...
New claims for unemployment hit 1.15 million
Whoa, Nellie! Initial claims for unemployment benefits through regular state programs climbed to 1.15 million on an unadjusted basis for the week ended January 9. On a seasonally adjusted basis claims rose to 965,000, an increase of 181,000 in the week. Add 284,000...
Adding Applied Materials to my Jubak Picks Portfolio on chip shortage
As I noted in my January 13 video “4 picks for the chip shortage,” investors are looking at shortage of silicon chips that has hit the auto industry especially hard and that argues for a multi-year increase in capital spending to expand chip production at...
China puts three cities into lockdown to head off new coronavirus outbreak
Today, January 13, China recorded the highest one-day case total in more than five months, according to the country’s National Health Commission. Most of the new patients recorded in Tuesday’s figures were near the capital, Beijing, but a province in north-east...
Watch my new YouTube video on 4 stock picks for the chip shortage
I’m starting up my videos again–this time using YouTube as a platform. The sixth YouTube video “4 stock picks for the chip shortage” went up today. Please watch and subscribe to my YouTube channel. And like my video. You can see it...
Yields on the 10-year Treasury pull back a bit in today’s auction
For a day, at least, the seemingly inexorable climb in Treasury yields stopped. The yield on the 10-year Treasury, which is up 23 basis points in the last month, dropped back to 1.13%, a retreat of 2 basis points. (It takes 100 basis points to make up one percentage...
Johnson & Johnson says its coronavirus vaccine could go to the FDA for emergency approval on January 21–if it works
Johnson & Johnson (JNJ) said today, January 12, that the the company is in the “final stages” of analyzing the data from its 45,000-patient Phase 3 trial of the single-dose version of its vaccine. “We hope to have that information very soon,” CEO Alex Gorsky said...
Watch my YouTube video on why this very stretched market will hang in for another six months
I’m starting up my videos again–this time using YouTube as a platform. The fifth YouTube video on why this very stretched market will hang in for another six months went up today. Please watch and subscribe to my YouTube channel. And like my video. (Note...
This week starts out like last week–down; will it end with a rally?
At the close today, January 11, the Standard & Poor’s 500 was off 0.66%. The Dow Jones industrial Average was lower by 0.29%. The NASDAQ Composite had fallen 1.255 and the NASDAQ 100 had dropped 1.55%. The small cap Russell 2000 was down just 0.03%. The...
50 Stocks Portfolio member TSM reports record quarterly revenue on 5G iPhone demand
Today, January 8, Taiwan Semiconductor Manufacturing (TSM), the world’s largest contract chipmaker, reported December sales that translate into record quarterly revenue with estimated sales in the quarter climbing to $12.9 billion (361.5 NT$). (The company...
Economy unexpectedly loses jobs in December
The U.S. economy shed 140,000 jobs in December. That’s the first monthly job loss in eight months. Economists had expected the economy to pick up a very modest 50,000 jobs in the month. The official unemployment rate held at 6.7%. The U-6 unemployment rate,...
Inflation worries? You’ve got to be kidding but bond market starts to price in higher interest rates
The stock market is in the midst of euphoria at the prospect that unified Democratic control of the White House and Congress will mean more fiscal stimulus–those $2,000 checks for a start–increased aid to cities, and increased spending (maybe) on...
New claims for unemployment drop to 787,000–but nobody knows what that means
Initial claims for unemployment in regular state programs fell to 787,000 for the week ended on January 2. Economists were looking for 800,000 initial claims. New claims for the prior week were revised lower to 790,000. To keep the “improvement” in...
Watch my YouTube video on 5 stocks for a Biden market
I’m starting up my videos again–this time using YouTube as a platform. The fourth YouTube video on 5 Stocks for a Biden market went up today. You can see it below: Please watch and follow (and like) my...
Today’s rally in renewable and infrastructure stocks takes cash out of technology sector
Of course, a sector can rally on new cash coming off the sidelines. Often, however, when one sector rallies another falls as investors use profits from that sector to fund new buys. That seems to be what happened today when “green” stocks rallied and...
I’m adding shares of SMOG to my Jubak Picks Portfolio tomorrow
The stock market rally that started so strong this morning as Democrats, surprisingly, rode to victory in both Georgia Senate races, took a big step backwards as the day wore on with scenes of rioters roaming the hall of Congress in an effort to overturn the November...
Saudis surprise OPEC; oil soars by 5%
Today, January 5, Saudi Arabia shocked OPEC+ with a voluntary 1-million-barrel-per-day output cut. The announcement came after OPEC and Russia agreed to allow a 75,000 barrels a day increase in total production from Russia and Kazakhstan in February and March. On the...
2020 was a great year for dividend stocks: my Dividend Portfolio showed a return of 15.71% for 2020
It’s unusual, to say the least, to have a dividend portfolio match the returns on the Standard & Poor’s 500–especially in a year when the S&P 500 was setting an all time high–but that’s what happened in 2020. My Dividend Portfolio...
Adding copper miner Freeport to Jubak Picks Portfolio tomorrow
Commodities have soared on prospects for a post-coronavirus vaccine economic recovery. And copper is one of the best commodities to own in order to in the recovery of the global economy–and especially the growth in the Chinese economy–as the coronavirus...
Happy New Year 2021!!!
Hoping that 2021 is in all ways better than 2020. And hoping that you and your family stay healthy and secure in the New Year. Thanks for reading for another year. P.S. And unlike last year I’ve already started work on portfolio performance reports for 2020 (It...
Initial claims for unemployment fall a bit but still signal an economy losing momentum
Initial claims for unemployment dropped to 814,000 last week from 873,000 the prior week, the Labor Department reported today, Thursday, December 31. The short week due to Christmas makes it hard to judge the trend in new applications. Another 308,000 people filed for...
Santa Claus rally adds another up day on December 31–with records on the S&P and Dow
The Standard & Poor’s 500 closed up 0.64% today to a new closing high and ended the year ahead more than 16%. The Dow Jones Industrial Average also closed in record territory after a gain of 0.65% on the day. The Dow is up about 7% for 2020. The NASDAQ...
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...
Lots of trading action but no trend so far from Santa Claus
Today, Wednesday December 30, is pretty much the reverse image of yesterday’s stock market action. Traders are having fun–and making money, I’d hope–in the day to day action but I don’t see a trend in this market that might extend into...
Oil manages to creep higher today even with OPEC supply increase looming
Oil managed to close to the upside today, December 29, even though OPEC+ is set to add another 500,000 barrels a day to output starting in January. U.S. benchmark West Texas Intermediate gained 0.76% to $47.98 a barrel. International benchmark Brent crude climbed...
More, more (stimulus), cries the stock market
Yesterday stocks moved higher on news that President Donald Trump had actually signed the combined coronavirus stimulus/relief and government spending bill. I guess after contemplating the possibility of no bill and another government shutdown, even $600 checks seemed...
Reminder: Today is the deadline for selling to take tax losses in 2020
Sell today if you’re looking to sell to generate tax losses for 2020. After today, December 29, you can still sell but the losses will count for the 2021 tax year. Remember you can rebuy any stocks or other financial assets you sell to generate a 2020 tax loss...
Welcome back Santa Claus rally
With President Donald Trump signing the coronavirus stimulus/relief and fiscal 2021 government spending bill, financial markets can go back to their favorite holiday week activity–using the opportunity afforded by shrunken volumes to push up stocks. As of the...
Merry Christmas; best of the holidays
Stay safe. Think of all the ones we love. Remember that even the darkest days of the year give way to light. Look forward to better times. I’ll be back in the old posting saddle on Friday.Jim’s Daily Email Alerts:
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