...retail positioning is once again very long-biased... monetary policy intervention has once again removed all “fears” of a correction, recession, or bear market...
The biggest reason for the surge in EPS was the plunge in loan losses, which dropped by a whopping 60% from the $1.5 billion set aside last year to just $611 million, a quarter of the $2.4 billion analysts had expected JPM to set aside.
Managing editor Ed Harrison and senior editor Ash Bennington answer questions from the Real Vision audience in this special edition of the Daily Briefing. They…
"I'm not as concerned about a shift politically, but it does appear Mr. Biden is going to win the presidency unless something untoward is to happen in his campaign and I wish otherwise but that seems to be the reality."
The five largest S&P 500 stocks (AAPL, MSFT, AMZN, GOOGL, FB) are expected to grow 3Q sales and EPS by +13% and +1%... the rest of the S&P500 will see a -5% revenue drop and a -24% drop in EPS.
Intervention after intervention by Powell’s Federal Reserve and it remains to be seen what exactly is being accomplished beyond barely keeping the economy afloat (when all market factors are considered)...
Although all the stocks in the DJIA are intended to be in line with broader economic trends, the similarities end there. For some DJIA stocks, 2020 has brought growth and opportunity - for others, quite the opposite.
This is the same WHO which refused to call Covid-19 a global pandemic for weeks in the crucial early stages, and openly encouraged local and global travel, as it is doing again now.
"There seems to be a bit more hope on a fiscal program breakthrough before the elections, and hopes for a better-than-consensus-based earnings season to start tomorrow"
Several EU countries to experience a GDP contraction in 4Q especially those who already faced a contraction in the services sector in September, such as France and Spain.
