U.S. economy grew at 2.8% annual rate in second quarter
The U.S. economy grew at a stronger than expected 2.8% annualized rate in the second quarter. The growth rate for the quarter that ended in June was double the 1.4% rate in the first quarter. Consumer spending and business investments drove almost all of the second...
Viking Therapeutics up 28% as obesity drug moves to Phase III trials
Viking Therapeutics (VKTX) has announced that its subcutaneous obesity drug candidate VK2735 is moving into Phase III development. Viking is currently preparing for an end-of-Phase II meeting with the Food & Drug Administration later this year. Just as...
China cuts interest rates in a new attempt to jump start economy
On Monday, July 22, the People’s Bank of China lowered its benchmark lending rates and an important short-term policy rate. The precise timing was a surprise although leaders at the recently concluded third plenum had flagged continuing problems in the real estate...
Too early to buy CrowdStrike on the dip–wait until just before the September 4 earnings report
Nothing like being at the center of the largest IT “event” in history to send a stock tumbelling. Last week CrowdStrike (CRWD), one of the biggest makers of cybersecurity software, pushed out a flawed update that caused an error in the Microsoft Windows operating...
Another week of tech stock weakness ahead
I expect technology sector weakness to continue this week with earnings worries still unanswered. What could put an end to selling in tech stocks? The NASDAQ 100 is down almost 4% in the last week. Certainly earnings news that showed earnings growth at the companies...
Another day of small-cap outperformance–here’s the best ETF for this trend
The small-cap Russell 2000 index gained 1.90% yesterday, July 15. That beat the 0.28% gain for the Standard & Poor’s 500. And the 0.53% gain for the Dow Jones Industrial Average. And a 0.27% gain for the NASDAQ 100 index. And today, as of noon, New York time, the...
Is the rotation finally here?
This wee watch to see if we finally get that long-awaited, long-predicted, and never-quite-arriving rotation out of technology stocks (and especially those BIG tech stocks) and into smaller capitalization stocks, or consumer stocks or value stocks. Just about anything...
Hold onto Nvidia for Blackwell chip launch–it’s a big deal even for the AI rocket
If you own Nvidia (NVDA) shares or are thinking of buying them post the stock’s 10 for 1 split, I know you’re trying to figure out 1) how much more upside is there to Nvidia’s shares, and 2) how much more valuable can a stock with a $3 trillion market cap get? You’re...
It’s getting to look a lot like September–for the Fed’s first interest rate cut
The U.S. economy added 206,000 jobs in June, the Bureau of Labor Statistics reported today, July 5. That was above the median forecast of 190,000 new jobs in a Bloomberg survey of economists. But even though the June number came in above expectations, the overall...
Today I added Salesforce from my 5 Next Big Things Special Report to my Jubak’s Picks portfolio
At this point in the AI cycle I’d like to own shares of companies providing AI solutions in relatively “easy” data universes. (Nothing as complex as voice recognition for an interface with a diverse customer universe under uncontrolled environmental conditions. Like a...
Yesterday I made Broadcom Pick #3 in my Special Report on the 5 Next Big Things
I’ve made Broadcom Pick #3 in my Special Report on my subscription set JubakAM.com. And today I’m adding it to my long-term 50 Stocks Portfolio. Here’s what I wrote: Pick #3 is Broadcom (AVGO) As AI chips and systems get more powerful, someone has to build the chips...
$51 trillion by 2034; the Federal debt is starting to sound like real money
On Tuesday, June 18, the Congressional Budget Office projected that the federal debt would hit $50.7 trillion by 2034. That’s only 10 years from now. That year the federal debt will equal 122% of the United States’ annual economic output (GDP). That would far surpass...
Buy the dollar! After Italy’s triumph leading this week’s G7, the country will cause another euro crisis
This is Giorgia Meloni’s time in the sun. I hope she enjoys it. The pasta is about to hit the fan. Which will lead the dollar to rally against the euro. Some more. And which gives me Step #6 in my Special Report: 7 Steps to Take Now to Protect Your Portfolio While You...
China needs more stimulus as housing slump drag on economy continues
Data Monday, June 17, show that China’s economy needs more stimulus to overcome the persistent drag from China’s housing slump. The most recent bit of bad news is that industrial output—-which has made up for slow consumer spending lately-—fell short of forecasts....
Moderna finally proves it has a post-Covid vaccine life
Can you say rollercoaster? In 2022, the biotech company generated sales of nearly $18.9 billion, all of it from sales of its Covid-19 vaccine but it expects revenue of only $4 billion this year. On February 14, 2023, shares sold for $175.62. On $86.04 on February 14,...
Imagine that! In two days of speculative fever a lot of people lost a lot of money on GameStop–and a few made out like bandits
GameStop (GME) stock fell as much as 17% in early trading Friday, June 7, after the video game retailer reported quarterly results that missed analyst estimates and announced a stock sale. The came just hours before a highly anticipated livestream from “Roaring...
So much for that job market slowdown in May
Employers added 272,000 jobs in May, the Bureau of Labor Statistics reported this morning. That number was well above the 185,000n projected by economists and even higher above the 175,000 in the April report. The financial markets were disappointed with the news...
And now they tell us: A day before the jobs report the BLS tells us that the employment numbers have been wrong
The Federal Reserve has been telling us over and over again that its decision on cutting interest rates depends on the data. Among other things, the Fed wants to see a steady slowdown in the employment market reflected in the data before it cuts interest rates. But...
Nvidia beats even the most optimistic earnings forecasts
esterday, May 22, after the market close, Nvidia (NVDA) crushed Wall Street projections for revenue and earnings for the company’s fiscal first quarter of 2025. Nvidia reported that revenue soared 262% year-over-year to a record $26 billion, marking an 18%...
Looking for indicators on market momentum? Try Nvidia’s earnings on Wednesday
This week we hit a key moment for momentum in a market that keeps setting new records on Wednesday, May 22, when Nvidia (NVDA) announces revenue and earnings for the company’s first fiscal quarter of 2025 and the quarter that ended in calendar April 2024. The...
Powell says Slow–as market waits for Wednesday CPI inflation report
Granted that the remarks weren’t delivered at the most high profile venue–a panel discussion at the Foreign Bankers Association meeting in Amsterdam–but I read Federal Reserve chairmen Jerome Powell as saying that the U.S.central bank might hold interest...
This coming week the action in the markets is beneath the surface
This week I expect surface quiet but important movement in the lower depths of the financial markets. The week ahead lacks in obvious market-moving events and reports. There’s a smattering of earnings with Disney (DIS) on May 7 and Toyota Motor (TM) on May 8. But...
The jobs data doesn’t tell us what the Fed is thinking about rates and inflation–so the market guesses
The U.S. economy added 175,000 jobs in April, the Bureau of Labor Statistics announced on Friday. That was the smallest number monthly new jobs in six months. The unemployment rate ticked up to 3.9%. And traders tried once again, to get ahead of the data. Concluding...
The Fed walks a very, very fine line on inflation and interest rate cuts
On Wednesday, May 1, the Federal Reserve decided NOT to cut interest rates at its May 1 meeting. That was the decision expected by the financial markets. And Federal Reserve chair Jerome Powell tried his best to keep traders from speculating that the Fed would...
Brookfield Renewable pops on Microsoft supply deal
Microsoft will buy more than 10.5 GW of clean energy from Brookfield Asset Management and its Brookfield Renewable unit (BEPC), the companies announced on Wednesday, May 1. Shares of Brookfield Renewable were up 5.13% today, May 2, on the news. I added Brookfield...
Visa beats on earnings as worldwide payments volume climbs by 8%
Tuesday, April 23, after the market close Visa (V) reported adjusted net income of $2.51 a share. That ws 7 cent a share more than the consensus of estimates from Wall Street analysts. Earnings rose 7% year-over-year in the quarter. Revenue climbed 10% from a year...
Now it’s one interest rate cut and not until December
How views on interest rates have changed since the start of 2024. Then, in January, the consensus view called for as many as six interest rate cuts from the Federal Reserve in 2024 for a total of 150 basis points in cuts to the Fed’s benchmark interest rate. Today,...It’s a make or break earnings week for tech
I’m sure you’ve noticed. The technology sector, which led the stock market rally in 2023 and in the early days of 2024, is in a slump. The Technology Select Sector SPDR ETF (XLK) tumbled 6.27% last week and is down 7.16% in the last month. For 2024 to date, as of the...
Apple’s smartphone market share slide continues
pple has lost its spot as the world’s biggest mobile phone seller, IDC reported today, April 15. A steep drop in sales in China for Apple let South Korean rival Samsung retake the lead in global market share. Samsung had been the biggest global seller of mobile phones...Jim’s Daily Email Alerts:
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