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"We have the British motor industry as a role model for what happens when you try to save an industrial dinosaur. Britain was the first country to industrialize and the first to de-industrialize. We should learn from this." - P. J. O'Rourke The 5.4% fall in industrial production and the ...
Last week we wrote a commentary entitled The Stock Market Is Not The Economy , demonstrating that attempting to time stock market investments based on economic data and the health of the economy has been perilous, at best. While the stock market has historically turned down prior to the peak ...
We periodically take snapshots of the S&P 500's total market capitalization, including the index's Top 10 component firms by market cap weighting. We were curious to see how the Coronavirus Recession has affected who's on top in the S&P 500, so we created the following animated chart t...
The oil price crash was inevitable. To understand why, we have to review a bit of history. In 2013, I began warning of the risk to oil prices due to the ongoing imbalances between global supply and demand. Those warnings fell on deaf ears. Nobody wanted to pay much attention to the funda...
Now on a weekly basis, we're witnessing things that couldn't happen - actually happen. April 20 - Bloomberg (Catherine Ngai, Olivia Raimonde, and Alex Longley): "Of all the wild, unprecedented swings in financial markets since the coronavirus pandemic broke out, none has been more jaw-droppi...
One thing that's been tracked for a while but might be somewhat useful in this type of market environment where everyone is looking for some "pandemic allegory" is just averaging expected 2020 and 2021 full-year S&P 500 growth rates. Here is what the progression looks like: 4/24/2...
Jobless claims still point to over 20,000,000 lost jobs in April, 15%+ unemployment rate As I've written in the past few weeks, the number of initial jobless claims correlates roughly with the number of net new jobs added or subtracted in any given month. Normally there is too much noise f...
Looking at the S&P 500 EPS and revenue data in general, the trough in y/y decline in S&P 500 EPS and revenue is expected to occur in Q2 '20. Lots of discussion late last week and early this week on whether too many investors are hiding in Technology within their portfolios. Well, w...
By Jill Mislinski Here is the opening statement from the Department of Labor: COVID-19 Impact The COVID-19 virus continues to impact the number of initial claims and insured unemployment. In the week ending April 18, the advance figure for seasonally adjusted initial claims was...
Kim Parlee recaps the biggest news of the day including the latest COVID-19 developments, followed by a conversation with David Sykes, Head of public equities, TD Asset Manage ment on earnings outlook and the extent of the coronavirus outbreak’s hit to corporate profits. ...
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NEW YORK , Aug. 28, 2020 /PRNewswire/ -- Direxion continually reviews its product range to ensure it's meeting the needs of our clients. Based upon a recent review, the Board of Trustees of the Direxion Shares ETF Trust has decided to liquidate and close 15 ETFs (each, a "Fund" and c...