Trader Vic Sperandeo wraps up today’s editorials by sharing his thoughts on how this COVID-19 shutdown will have lasting impacts on the economy. It’s not just about Q2 or even Q3 but the possible carryover for many years if unemployment remains high. We also address the moves in the markets as a discount mechanism for the future of the economy.
Chris Temple joins me for a look ahead to the economic restart that is starting in the US. We saw some jobless claims data again this week but the recent data has not had an impact on the market. We outline what to watching as we move through this restart.
US and China tensions are in the news again as the US is moving forward with restrictions on Chinese companies listing in the US and limiting US pension funds from investing in Chinese companies. More details are still to come.
Chris Temple kicks off today with a focus on the surprise move today by the Fed. We were all waiting to see the US jobless claims numbers and what comes out of the OPEC+ meeting but the Fed has stole the headlines. The massive spending program will have implications for markets in a wide sense.
Chris Temple joins me today to address a couple major headlines that are moving markets today.
We start with the blowout jobless claims number that came in at 6.65million. Next up is news impacting the oil patch. Trump made comments bu the news out of China is what’s really contributing to the >25% gains today.
With pretty much everything up today there are a lot of rallies to be faded. However we do wrap up the call with the rallies that Chris thinks are real.
Marc Chandler wraps up this week focusing on the US Dollar and it’s strong move to 4 month highs. We outline the stronger than expected US data as a factor also for the moves in US markets. Considerations for what other countries are seeing in their data is also a key driver of money flows not just for currencies but also safe assets.
Chris Temple joins me to wrap up the markets today with comments on the jobs data that disappointing and what could happen on the trade front at next week’s meeting/signing. The markets sold off into the close but in no way have traders rushing for the exits.
Marc Chandler, Managing Partner at Bannockburn Global ForEx joins me for a comprehensive recap of economic from the US and around the world and how it all impacts the markets. We have seen a shift to a more risk on attitude but the safe assets are not getting hit as hard as one would think. All this data needs to be looked at in a big picture sense to help investors navigate these choppy markets.
Chris joins me for an in depth discussion on the Fed statement and press conference. The Fed delivered a rate cut but it is being considered a hawkish rate cut as they will be on hold until next year. We also look at the ADP jobs number and GDP data point from this morning.
While most everyone will be watching the Fed statements and press conference tomorrow there are a couple other important events to watch. Ed Moya, Senior Market Analyst at OANDA joins me to share his thoughts on the Fed meeting but also look to some earnings from big tech, Facebook and Apple. There is also jobs data that will be released and trade updates on the possible Phase 1 deal.
After a disappointing ADP jobs number today that was preceded by the weak manufacturing data yesterday the overwhelming factor pointed to is global growth concerns. As much as Trump wants to push on the Fed to lower rates business are not willing to borrow more money and invest when the global outlook is so cloudy.
Ed Moya, Senior Market Analyst at OANDA joins me to focus on this overwhelming point. We look to the sectors that are showing this as well as some of the upcoming political events that have the potential to either clear up the situation or drive the world further into a recession.