The payroll report for July was mixed. The recovery to full employment will be long, slow and arduous. The July Challenger layoff survey showed a rise in job cuts. Nevertheless,…
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Big tech has delivered. Apple, Amazon, Facebook and Alphabet all announced very strong profit numbers last week. Regulatory scrutiny and the virus pandemic have failed to dent earnings. At the…
New home sales have ‘exploded’ back up to pre-pandemic levels. Mortgage rates have fallen yet again to record lows. The Fed stimulus is working. But there is only so much…
The rotation into cyclicals last week sent a powerful message: investors are aligned with President Trump, disregarding the rise in Covid-19 infections. The S&P 500 climbed 1.25% last week, but…
Last week, we warned that stock markets were ignoring the second wave of the virus: this week, investors have paused to digest some alarming trends across states in the South…
