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Vacation heads up

Vacation heads up

I’m going to be taking a few days off–from Monday through Thursday of next week–to chill in a cabin in the woods and social distance with a moose or two. I’ve got a few posts in the can for those days. And just in case, I’ll be keeping my...
Congress blows it on the economy

Congress blows it on the economy

The Senate left Washington yesterday without putting its plan for the next coronavirus aid package on the table. That guarantees, in case you had any doubt, that the enhanced $600 a week unemployment benefit that, for practical purposes, expires with today’s...
Everything was rosy until the last hour

Everything was rosy until the last hour

At the high point during the day, the Dow Jones Industrial Average was up 2.2%. It closed with a gain of just 0.1% for the day. The trend wasn’t limited to U.S. stocks. The iShares MSCI Emerging Markets ETF (EEM) was up 1.26% at noon New York time but closed off...
Inflection point for stocks approaches

Inflection point for stocks approaches

Today what I’m calling “re-opening dependent” stock fell again. At least in the early going. Toward the end of session–like yesterday–these stocks and stocks in general rallied. Which in and of itself tells us something important about...
Amazon gets more competition from Walmart

Amazon gets more competition from Walmart

Walmart (WMT) will launch a new subscription service, Walmart+ later this month according to Recode.com. For $98 a year, a price comparable to Amazon Prime, subscribers will get same-day delivery of groceries and general merchandise, discounts on fuel at Walmart gas...
Trump administration ratchets up tension with China by closing Houston consulate

China powers “risk on” rally

Chinese stocks are burning up the track–and that has led the way to a shift toward “risk on” assets across global markts. Today alone the Shanghai Composite Index was up 5.71% as of noon New York Time. This continued as streak that has seen the CSI...
Apple says it will close 30 more stores

Apple says it will close 30 more stores

I’m using Apple (AAPL) as one indicator for the state of the re-opening economy. Apple’s decision today to re-close 30 more of its stores in seven states, including Alabama, California, Florida, Georgia, Idaho, Louisiana, Nevada, Oklahoma, Texas and Utah,...