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Market Update Wednesday 08/05/20

It was another “Up, Up and Away” day on Wall Street, as the SkyNet BuyBots took control in overnight futures trading based on optimistic reports of a COVID-19 vaccine, and kept right on going into the close. The DJIA surged 373 points (1.4%) and the NASDAQ added 55 points (0.5%). Again, gold was the star of the day, closing at a new record high above $2,040. Silver tacked on another 75 cents.

Stay tuned as the battle of the SkyNet StockBots continues.

Market Update Tuesday 08/04/20

It was a relatively quiet day of trading on Wall Street, as US stocks zigged and zagged their way to a modestly higher close. The DJIA gained 164 points (0.6%) and the NASDAQ tacked on 38 points (0.3%). Gold was the star of the day, closing at a new record high, above $2,000 for the first time. Silver soared 6%

Stay tuned as the battle of the SkyNet StockBots continues.

Market Update Monday 08/03/20

It was another “Up, Up and Away” day on Wall Street, as the SkyNet BuyBots took control in overnight futures trading, and kept right on going into the close. The DJIA surged 236 points (0.9%) and the NASDAQ jumped 157 points (1.5%). Gold jumped to $20 to a new month-end closing high of $1,976.

Stay tuned as the battle of the SkyNet StockBots continues.

Market Update Friday 07/31/20

Trading on Wall Street was fairly quiet in the morning, as US stocks to modestly lower levels. At precisely 1:00 PM EDT (“funny” how that happens), the SkyNet BuyBots jumped in and rallied stocks into the close. The DJIA ended higher by 115 points (0.4%) and the NASDAQ jumped 157 points (1.5%). Gold jumped to $20 to a new month-end closing high of $1,976.

Stay tuned as the battle of the SkyNet StockBots continues.

Market Update Thursday 07/30/20

The SkyNet SellBots took control in the overnight futures session, sending US stocks sharply lower at the open of trading on Wall Street. From there, the BuyBots jumped in and reversed course, leading to a split decision at the close. The DJIA plunged 226 points (0.9%) but the NASDAQ gained 44 points (0.4%).

Stay tuned as the battle of the SkyNet StockBots continues.

Market Update Wednesday 07/29/20

All eyes and ears were on hold today until Fed Head Jay Powell’s afternoon news conference, which turned out to be pretty much a non-event. US stocks zigged and zagged to close near the highs of the day. The DJIA advanced 160 points (0.6%) and the NASDAQ surged 140 points (1.3%). Gold zoomed to a new record high of $1,980.

Stay tuned as the battle of the SkyNet StockBots continues.

Market Update Tuesday 07/28/20

The SkyNet SellBots took control in the overnight futures session, sending US stocks sharply lower at the open of trading on Wall Street. From there, stocks zigged and zagged to close at the lows of the day. The DJIA dropped 205 points (0.8%) and the NASDAQ tanked 134 points (1.3%). Gold zoomed to a new record high of $1,940 and silver zoomed higher by 6%.

Stay tuned as the battle of the SkyNet StockBots continues.

Market Update Monday 07/27/20

Following last week’s massive sell-off, the SkyNet BuyBots stepped in and halted the decline with modest early gains. From there, stocks zigged and zagged to close near the highs of the day. The DJIA rebounded 115 points (0.4%) and the NASDAQ advanced 173 points (1.3%). Gold tacked on a few more bucks to a new record high of $1,960.

Stay tuned as the battle of the SkyNet StockBots continues.

Market Update Friday 07/24/20

In a continuation of yesterday’s sell-off, the SkyNet SellBots again took control in the overnight futures session, sending US stocks sharply lower at the open of trading on Wall Street. From there, stocks zigged and zagged to close near the lows of the day.  The DJIA dropped another 182  points (0.7%) and the NASDAQ tanked 98 points (0.9%). Gold and silver pulled back a bit from their recent rallies.

Stay tuned as the battle 0of the SkyNet StockBots continues.

Market Update Thursday 07/23/20

It was all downhill today as the SkyNet SellBots punished tech stocks for weak earnings reports. The DJIA plunged 353  points (1.3%) and the NASDAQ tanked 245 points (2.3%). Gold and silver pulled back a bit from their recent rallies.

Stay tuned as the battle 0of the SkyNet StockBots continues.

Market Update Wednesday 07/22/20

It was a relatively quiet day of trading on Wall Street, as US stocks zigged and zagged their way to a modestly higher close. The DJIA gained 165 points (0.6%) and the NASDAQ added 25 points (0.2%). Gold continued to extend it run above $1,850, with eyes on the all-time high of $1,918. Silver zoomed ahead another $1.00 to $23.00.

Stay tuned as the battle 0of the SkyNet StockBots continues.

Market Update Tuesday 07/21/20

The SkyNet BuyBots took control in the overnight futures session, sending US stocks sharply higher at the open of trading on Wall Street. From there, stocks zigged and zagged their way lower into the close. The DJIA held onto a gain of 159 points (0.6%) but the NASDAQ dropped 87 points (0.8%).

Stay tuned as the battle 0of the SkyNet StockBots continues.

Market Update Monday 07/20/20

“Up, Up and Away” returned on Wall Street, as the SkyNet BuyBots poured into the NASDAQ tech stocks. The rest of the market zigged and zagged into a modestly higher close. The DJIA edged higher by 9 points (0.0%) and the NASDAQ jumped 264 points (2.5%).

Stay tuned as the battle 0of the SkyNet StockBots continues.

Market Update Friday 07/17/20

It was a relatively quiet day of trading on Wall Street, as the SkyNet SellBots applied a bit of pressure all day. Stocks zigged and zagged their way to a modestly mixed close. The DJIA gained 63 points (0.2%) and the NASDAQ added 29 points (0.2%).

Stay tuned as the battle 0of the SkyNet StockBots continues.

Market Update Thursday 07/16/20

It was a relatively quiet day of trading on Wall Street, as the SkyNet SellBots applied a bit of pressure all day. Stocks zigged and zagged their way to a modestly lower close. The DJIA dropped 135 points (0.5%) and the NASDAQ fell on 77 points (0.7%).

Stay tuned as the battle 0of the SkyNet StockBots continues.

Market Update Wednesday 07/15/20

“Up, Up and Away” returned on Wall Street, as the SkyNet BuyBots gained control in the overnight futures session, sending US stocks sharply higher at the open of trading on Wall Street. The rally continued with a vengeance all the way into the close, on renewed hopes of progress in the battle against Covid. The DJIA jumped another 227 points (0.8%) and the NASDAQ tacked on 62 points (0.6%).

Stay tuned as the battle 0of the SkyNet StockBots continues.

Market Update Tuesday 07/14/20

“Up, Up and Away” returned on Wall Street, as the SkyNet BuyBots gained control in the overnight futures session, sending US stocks sharply higher at the open of trading on Wall Street. The rally continued with a vengeance all the way into the close, on renewed hopes of progress in the battle against Covid. The DJIA jumped 556 points (2.1%) and the NASDAQ tacked on 97 points (0.9%).

Stay tuned as the battle 0of the SkyNet StockBots continues.

07/21/20 – Daniel Lacalle: The World Is Drowning in Debt

According to the International Monetary Fund (IMF), global fiscal support in response to the crisis will be more than $9 trillion, approximately 12 percent of world GDP. This premature, clearly rushed, probably excessive, and often misguided chain of so-called stimulus plans will distort public finances in a way which we have not seen since World War II. The enormous increase in public spending and the fall in output will lead to a global government debt figure close to 105 percent of GDP. Read More.

Market Update Monday 07/13/20

It looked like it was going to be yet another “Up, Up and Away” day on Wall Street, as the SkyNet BuyBots gained control in the overnight futures session, sending US stocks sharply higher at the open of trading on Wall Street. The rally continued with a vengeance until precisely 1:30 PM EDT (“funny” how that happens), when California clamped down the economy amidst reports of increasing cases of the Covid virus. The SellBots stormed in, sending stocks plunging into the close. The DJIA held onto a gain of 10 points (0.0%) and the NASDAQ got smashed by 226 points (2.1%).

Stay tuned as the battle 0of the SkyNet StockBots continues.

07/19/20 – David Morgan: Is There A Great Depression Coming?

We’ve only had one depression in modern times: the Great Depression, the worst economic downturn in the history of the U.S. and the industrialized world.

With unemployment at levels unseen since the Great Depression — the worst economic downturn in the history of the industrialized world — one has to be wondering if the country will eventually dip into a major depression.

Market Update Friday 07/10/20

It was pretty much another “Up, Up and Away” day on Wall Street, as the SkyNet BuyBots seized on the news of more positive developments in the search for a Covid-19 treatment. The DJIA jumped 369 points (1.4%) and the NASDAQ gained 69 points (0.6%).

Stay tuned as the battle 0of the SkyNet StockBots continues.