Daily Comment
Daily Comment (August 7, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF It’s employment Friday! We cover the data in detail below, but the quick view is that the data came in better than forecast. It’s a modest risk-off morning, with weaker Chinese stocks. Our leadoff this morning is China as tensions… Read More »
Daily Comment (August 6, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF It’s the 75th anniversary of the bombing of Hiroshima. U.S. equity markets are a bit weaker after a strong showing yesterday. We lead off with an update on policy progress (or lack thereof), followed by foreign news, with an update… Read More »
Daily Comment (August 5, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Moderating coronavirus infections in the U.S. and continued progress in vaccine and treatment studies are helping buoy risk assets so far today, despite a major explosion in Beirut that initially raised fears of terrorism. Another important positive today is that… Read More »
Daily Comment (August 4, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Despite the mixed performance for equities so far today, reports are showing a moderation in new U.S. coronavirus infections, as well as hints of progress in the negotiations for a new virus relief bill in Congress. As always, we review… Read More »
Daily Comment (August 3, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Happy Monday! U.S. equity futures are ticking higher this morning and the dollar is stronger. There was lots of policy news, which will be our lead. The virus news is next; mask controversy isn’t just a U.S. issue. An update… Read More »
Daily Comment (July 31, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Happy St. Ignatius[1] Day! It’s Friday and the “dog days” of August await. Equity markets are mostly higher this morning after the major tech firms revealed impressive earnings. This may be one of the rare times where such earnings are… Read More »
Daily Comment (July 30, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF It’s GDP day! It has been well forecast for months that Q2 GDP would be an epic negative. It turned out to be bad, but not as bad as expected. GDP fell 32.9% on an annualized basis compared to expectations… Read More »
Daily Comment (July 29, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Investors today are hoping for more clarity on future monetary policy after the Federal Reserve finishes its latest policy meeting. Also in Washington, top tech firm executives are being grilled remotely by a House antitrust committee regarding the market dominance… Read More »
Daily Comment (July 28, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Even if the U.S. opening is looking a bit soft today, investors should be encouraged by an apparent stabilization in new U.S. coronavirus cases and the release (after considerable delay) of Senate Republicans’ proposal for a new coronavirus relief bill. … Read More »