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On Wednesday, Treasury released budget stats for the month of May '20, and they were, as expected, godawful. A simple virus, potentiated by aggressive shutdown mandates, has caused government spending to explode and revenues to crater. Measured on a rolling 12-month basis, the federal deficit ...
By Jill Mislinski Thursday's release of the May Producer Price Index ((PPI)) for Final Demand was at 0.4% month-over-month seasonally adjusted, up from a 1.3% decrease last month. It is at -0.8% year over year, up from -1.2% last month, on a non-seasonally adjusted basis. Core Final Demand...
Although the weekly sentiment survey would not have captured equities' sharp decline today, bullish sentiment through AAII's weekly survey was lower by 0.27 percentage points to 34.28% this week despite the S&P 500's general move higher in the past week. That was the smallest absolute week...
Ouch. We haven't seen a drubbing like this since March 16th, when the market sank 12% on its way to a 34% decline from the peak on February 19th to the trough on March 23rd. That 12% drop on March 16th was the second-worst day in 70 years, surpassed only by the 20% free fall on October 19, 198...
The Fed has proven that it will do whatever it takes to support a recovery, and that recovery is already well underway, Jay Pelosky, CIO and co-founder of TPW Investment Management, told Real Vision during today’s Daily Briefing. Pelosky argued that although there’s nega...
Everyone who had a betting ticket for U.S. markets back at all-time highs before lockdowns ended, please raise your hand. This was the mother of all White Moose , galloping down the stream right as everyone was screaming about Black Swans and Gray Rhinos . The move off the March 23rd lows ha...
HEADLINES: 2,509,000 million jobs added. This makes up about 12% of the 22.1 million job losses in March and April. U3 unemployment rate improved 1.4% to 13.3%, compared with the January low of 3.5%. U6 underemployment rate improved 1.6% to 21.2%, compared with the January low of 6.9%....
By Kristina Hooper, Chief Global Market Strategist Weekly Market Compass: Encouraging signs were seen in job creation, manufacturing and service activity, and auto sales. The last time I used the term “green shoots” was the late spring and summer of 2009. Like everybo...
Liquidity has been so massive that it will likely be positive for stocks and dive the economy forward through 2020, Ed Harrison told Real Vision during today’s Daily Briefing. However, the influx of retail investors who are using the market as a betting vehicle instead of an in...
PMI and ISM Services Indices Markit’s US Service Index may have bottomed, but I think it is a stretch to describe the bounce in activity as V-shaped. The rate of contraction in business activity eased in May, as states reopened their economies, with the index rising from 26.7 to 37....
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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...