More
Less than 10 people get $565 billion richer since March lows While 40 million less fortunate file for unemployment “Fair to say you simply flooded the system with money?” Powell said “yes we did” The McAlvany Weekly Commentary with David McAlvany and Kevin Orrick V Recovery? Hope That V Is Not Velocity June 10, […]
[Reuters] Stocks fall as recovery rally pauses ahead of Fed meeting [Reuters] Europe turns red as bulls run out of charge [Yahoo/Bloomberg] Gold Advances Before Fed Meeting as Global Risk Rally Stalls [Reuters] Oil down on stronger dollar, oversupply concerns [AP] Fed acts to broaden appeal of ‘Main Street’ lending program [Yahoo/Bloomberg] Fed Needs Better […]
[Reuters] Stocks rise on optimism over economic revival [Reuters] World shares advance on surprise U.S. job recovery, oil steadies [Yahoo/Bloomberg] Oil Erases Gains With Saudis Saying Extra Cuts for a Month Only [CNBC] Coronavirus live updates: Global cases top 7 million; South Korea grapples with an uptick in infections [Reuters] Japan bank lending surges at […]
[Yahoo/Bloomberg] Powell Takes Center Stage at a Bleak Moment for the U.S.: Eco Week Ahead [Reuters] Black Lives Matter protests for U.S. racial justice reach new dimension [Reuters] China May exports slip back into contraction, imports worst in four years [Reuters] China’s forex reserves unexpectedly rise in May, regulator sees stability [Yahoo/Bloomberg] Wall Street Doubts […]
[Reuters] OPEC, Russia to extend record oil cuts to end of July [The Hill] Huge protest expected in DC amid escalating scrutiny of police tactics [Reuters] Wall Street Week Ahead: Bond investors look for Fed to justify steepening yield curve [AP] China urges citizens to shun Australia as dispute simmers [Bloomberg] A Booming Stock Market […]
For posterity, some numbers: Over the past three weeks (14 sessions), the S&P500 gained 11.5%. The KBW Bank Index surged 36.1%, with the NYSE Financials up 23.9%. The Dow Transports rose 27.2% in 14 sessions, with the Bloomberg Americas Airlines Index up 75.8%. Over this period, the broader market significantly outperformed the S&P500. The small […]
Here’s the news of the week – and how we see it here at McAlvany Wealth Management: Finding Value in a World of False Signals The market continues its seemingly inexorable march higher. In light of the lasting and in many cases existential damage that COVID has wrought on the earnings power of so many […]
[Reuters] Wall Street higher on surprise drop in unemployment rate [CNBC] 10-year Treasury yield surges above 0.9% after better-than-expected jobs report [Yahoo/Bloomberg] Oil Rallies With Strong Jobs Data Adding to OPEC+ Cut Optimism [CNBC] May unemployment rate comes in at 13.3%, better than the 19.5% expected [CNBC] Coronavirus live updates: WHO sees ‘upticks’ in cases […]
