Redbook Sales Growth Improves Again My theory is growth is slowing in the areas most impacted by COVID-19. This includes many states in the south and the west. With the northeast and the Midwest improving, it’s interesting to see what that does to national data. Redbook same store sales growth in th
Big Small Cap Rally The stock market had a solid Monday rally after selling off on Friday. Huge winners were the small caps. Specifically, the S P 500 rose 1.47%, the Nasdaq rose 1.2%, and the Russell 2000 rose 3.08%. Tech stocks underperformed which is extremely rare for this market since the March
Economic Expectations Thursday is a big day for labor data. Let's look at a few estimates for this. We are getting the BLS monthly labor report and weekly jobless claims. It will be curious as to how the recent spike in COVID-19 cases impacts jobless claims. We might need to wait a couple more weeks
Facebook Twitter Crash On Boycotts The stock market sold off sharply on Friday. A selloff was led by the COVID-19 recovery plays and the social media stocks. It’s very clear why the recovery plays declined since COVID-19 is running rampant in the south and the west. However, the decline in social me
Big Consumer Sentiment Spike In June Final June consumer sentiment reading was 78.1 which was slightly below the preliminary reading of 78.9. It’s tough to tell if that small decline at the end of the month matters. You would think sentiment would be getting worse now because stocks are declining an
Strong Last Hour Rally Thursday was a throwback to the last bull market in which the stock market always seemed to rally at the end of the day. There is a famous Twitter account that is named after the 3:30 PM rallies. In the past few months, we’ve been noticing spikes in the AM futures
Another Bad Jobless Claims Report Jobless claims report in the week of June 20th was terrible which means there have been 2 bad reports in a row. Specifically, the prior report was revised up from 1.508 million to 1.54 million. As you can see from the chart below, this week’s report showed claims fe
Big Wednesday Selloff The stock market sold off hard on Wednesday as there were the 2nd most new cases of COVID-19 ever; a few cities in the south and the west are near their breaking point in terms of hospital capacity. It’s looking more and more like the June 8th top will be very significant. Sign
COVID-19 Situation Looks Grim COVID-19 seems to be getting worse in a few states in the west and the south. This isn’t a 2nd wave. It’s a continuation of the first wave. Deaths are unlikely to increase to the peak in early April because younger people are getting it and doctors have a better idea of
Nasdaq 8 Day Winning Streak This is the Nasdaq’s world and we’re just living in it. The stock market overall isn’t extremely overbought. Some think it’s modestly too high. On the other hand, the Nasdaq is in a legitimate bubble. In other words, we can see the S P 500 and the other major indexes fall
