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New claims for unemployment hit 1.15 million

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...
Economy unexpectedly loses jobs in December

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,...
Saudis surprise OPEC; oil soars by 5%

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...
Happy New Year 2021!!!

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...
More, more (stimulus), cries the stock market

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...
Welcome back Santa Claus rally

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...