First off I hope everyone down in the US is having a great start to your July 4th long weekend!
Ed Moya joins me for a quick recap of the jobs data released yesterday and general market moves. There is still a buy the dip mentality for the markets all thanks to the easy money policies of central banks. It’s a strange environment when bad news is positive for the markets as well as good news. This ties into a discussion on complacency.
This interview was recorded late in the day yesterday.
The Fed’s Balance Sheet, Gold, and Key Dates For Next Week
Marc Chandler joins me today to comment on a wide range of key market events. We start with the shrinking of the Fed’s balance sheet last week. Seems strange that the balance sheet would shrink for a second consecutive week during these easy money times.
We then discuss the trading in gold this week and the test of key breakout levels. Finally a look ahead to next week’s shortened trading week and some key data out of the US and Europe.
A great rundown of big picture market moves, Fed and government spending, COVID news driving markets, and next weeks key data
Marc Chandler is back for a general recap on a wide range of market drivers. We start with a big picture look at US markets after the selloff last Thursday and general rebound this week. Then it’s a longer discussion on the roll of central bank easiness and government spending. These factors are undoubtedly supporting markets at the very least. We also discuss the COVID news that is leading to a bit of a selloff today. Finally a look ahead to two events/data points that need to be watched.
Joel Elconin joins me today to share his thoughts on the Fed continuing to print money and recently announced the buying of Corporate Bonds. All this easy money is helping the markets but now we are seeing more COVID shutdown worries creep in. Joel also comments on the higher volatility.
Hour 1 – Making sense of the US Market Selloff and an update from Great Bear Resources
At the end of the week fear entered the markets as the S&P had its largest one day drop in 12 weeks. This was on the back of a Fed meeting which confirmed that ZIRP is staying for the foreseeable future and that they are still worried about the US economy.
On this weekend’s show we focus mostly on the stability of the US markets with an update from Great Bear Resources to wrap up the show.
Please keep in touch by emailing me at Fleck@kereport.com. I love hearing about the companies you think have good prospects.
Segment 1 and 2 – Mike Larson kicks off this hour with a focus on the crazy moves in bankrupt companies the broad US markets this week. Also addressing the Fed’s statement that locks in the easy money policy through 2002.
Segment 3 – Dana Lyons shares his trading strategy for US markets and safe haven assets.
Segment 4 – Chris Taylor, President and CEO of Great Bear Resources (TSX.V:GBR & OTCQX:GTBAF) recaps recent high grade drill results announced this week from the Dixie Project.
Recapping the Fed statement and market selloff today
Chris Temple joins me to share his thoughts on the Fed statement and Powell’s press conference from yesterday as well as the market selloff today. While not too much new came out of the Fed statement it is abundantly clear that rates will remain low and QE is here for a long time. The selloff today is continuing and pretty much every market is being dragged down with it.
Do fundamentals even matter for investors anymore?
Over the past week we have seen some of the most beat up companies pop by over 200 or 300 or 400% on the back of bad news. Stocks like JC Penny and Chesapeake Energy who are in bankruptcy proceedings have bounced strongly. JC Penny traded up by 55% on Friday and 96% yesterday, while Chesapeake closed last Thursday at $14.05, Friday at $24.80 and yesterday at $69.9.
Joel Elconin shares his thoughts on what is driving these rebounds and if he thinks they are sustainable. We also discuss the types of investors that are driving these stocks higher as well as any long term trends he sees as being more stable.
What to watch this week for the Fed meeting, US Dollar and Gold
Chris Temple kicks off today with a look ahead to the Fed meeting on Wednesday. While no major changes are expected the markets are understandably muted to start off the week. We also discuss the US Dollar and gold’s price action.