The coronavirus pandemic has plunged the world into a severe recession. Job losses are unprecedented. Bad economic numbers haven’t stopped the Dow Jones from soaring. Investors are optimistic and expect a V-shaped recovery. The Labor Department reported on Friday the worst job losses since the Great Depression. But the Dow Jones continued to rally. The…
Elon Musk has another fundraising effort planned for SpaceX. The Tesla boss recently announced a possible IPO for his Starlink project as well as an additional $2 billion common stock offering of TSLA. All these moves suggest Musk might be feeling less than confident about the health of the global economy. As Wall Street speculates…
The promise of further tax cuts from Donald Trump and receding fears over the Wuhan coronavirus in China lifted the stock market on Wednesday. The Dow Jones lagged the S&P 500 and Nasdaq as Boeing stock continued to struggle. Jamie Dimon and Scott Minerd revealed what risks are lurking in U.S. financial markets. Donald Trump…
The Dow sped toward a weekly gain of more than 500 points. A key U.S. housing market metric surged to its highest level since before the financial crisis. Recession hawks say the “next housing market crash” won’t involve mortgages at all. The Dow capped a spectacular week with a final bounce on Friday, as U.S.…
Dow Jones rises on rejuvenated hopes of a US-China trade deal. Traders ignored weak economic data on Wednesday, but Friday’s jobs report will still be a critical risk event for the Dow. Despite all signs pointing to the contrary, Wall Street appears to be banking on Trump somehow avoiding having to implement the next wave…
The Dow, S&P 500, and Nasdaq all crept to a dull session ahead of the Federal Reserve’s interest rate decision and policy statement release. Third-quarter GDP beat estimates, but growth still slowed to 1.9%. The US economy will face severe pressure if consumer data begins to falter. The Dow traded with little conviction on Wednesday…
The Dow, S&P 500, and Nasdaq all fell on Tuesday. Positive trade war news did little to improve sentiment on Wall Street. If anything, the news highlighted the risks that could stand in the way of the partial US-China trade deal. The Dow continues to flirt with record highs, but even ongoing progress in US-China…
