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Market Update Friday 10/09/20

US stocks tacked on more gains following yesterday’s rally. The SkyNet BuyBots took control in the overnight futures, sending stocks higher at the open of trading on Wall Street. From there, stocks zigged and zagged into a higher close. The DJIA gained 161 points (0.6%) and the NASDAQ tacked on another 158 points (1.4%). Gold and silver jumped on weakness in the US dollar.

Stay tuned as the battle of the SkyNet StockBots continues.

10/16/20 – Pam Martens: Stock Mutual Funds Have Had Net Outflows for 25 Weeks, Bringing Total to $388.7 Billion — a Record

Refinitiv Lipper, which has been tracking mutual fund flows for the past 18 years, reports that for the week ended Wednesday, October 14, equity (stock) mutual funds marked their 25th week of net negative outflows, losing -$8.6 billion for the week. Year-to-date, that brings their net outflows to -$388.7 billion. Refinitiv Lipper notes that if that figure stands, it will be the “largest annual net outflows ever. Read More.

10/16/20 – Mike Maharrey: These Jobs Ain’t Comin’ Back

It’s been months since the US started to reopen after the government-imposed coronavirus shutdowns and yet hundreds of thousands of Americans continue to file for unemployment every week. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey takes a close look at the labor market and concludes that a lot of these jobs are never coming back.

Market Update Thursday 10/08/20

US stocks tacked on more gains following yesterday’s rally. The SkyNet BuyBots took control in the overnight futures, sending stocks higher at the open of trading on Wall Street. From there, stocks zigged and zagged into a higher close. The DJIA gained 122 points (0.4%) and the NASDAQ tacked on 56 points (0.5%). Gold and silver gain a bit of ground.

Stay tuned as the battle of the SkyNet StockBots continues.

10/14/20 – Tyler Durden: Fed Vice Chair Makes “Shocking” Admission: Fed May Never Be Able To Stop Manipulating The Market

Yesterday, San Fran Fed president Mary Daly made a stunning admission: just in case there was any confusion, the Fed knows that it has – and continues to blow – an asset bubble making “a few” who own stocks uber-rich, but the economy is now so reliant on the Fed liquidity firehose that the moment the Fed threatened to pop this bubble, which some have estimated to be around $90 trillion in liquidity, would result in economic devastation and leave millions without a job. Read More.

Market Update Tuesday 10/06/20

What a difference a Tweet makes! All was going well on Wall Street until 2:45 PM EDT when President Trump suspended negotiations with the Democrat leadership in Congres sover further “economic stimulus.” The SkyNet SellBots immediately  panicked and sent stocks reeling into the close.

Stocks Dip On Report There Is “Lots Of Skepticism”

The DJIA plunged 376 points (1.3%) and the NASDAQ sank 178 points (1.6%). Gold and silver got whacked too.

Stay tuned as the battle of the SkyNet StockBots continues.

Market Update Monday 10/05/20

All eyes on Wall Street again turned to the White House as President Trump responded positively to treatment for Covi-19 infection. It was an Up. Up and Away day as 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 kept right on running into the close. The DJIA jumped 465 points (1.7%) and the NASDAQ soared 257 points (2.3%). Gold and silver gained a bit.

Stay tuned as the battle of the SkyNet StockBots continues.

10/08/20 – David Rosenberg:

Disney is laying off 28,000 workers. American Airlines and United Airlines plan to cut 31,000 workers. Last week’s disappointing unemployment report shows that we have a long way to go. Perhaps a lot longer than we think. Read More.

Market Update Friday 10/02/20

All eyes on Wall Street turned to the White House as President Trump announced to the world that he tested positive for the Covid-19 virus. The SkyNet SellBots gained the upper hand in the overnight futures session, sending US stocks sharply lower at the open of trading on Wall Street. From there, stocks zigged and zagged into the close. The DJIA ended lower by 134 points (0.5%) and the NASDAQ outperformed to the downside, dropping 251 points (2.2%). Gold and silver slipped a bit.

Stay tuned as the battle of the SkyNet StockBots continues.

Market Update Thursday 10/01/20

The SkyNet BuyBots gained the upper hand in the overnight futures session, sending US stocks sharply higher at the open of trading on Wall Street. From there, stocks zigged and zagged into the close. The DJIA ended higher by 35 points (0.1%) and the NASDAQ outperformed, gaining 159 points (1.4%). Gold and silver gained a bit.

Stay tuned as the battle of the SkyNet StockBots continues.

Market Update Wednesday 09/30/20

Following last night’s free-for-all presidential “debate,” US stocks jumped at the open of trading on Wall Street. The SkyNet BuyBots kept the pressure on until precisely 2:00 PM (“funny” how that happens) when the SellBots took over and halted the rally. The DJIA ended higher by 329 points (1.2%) and the NASDAQ gained 82 points (0.7%). Gold and silver slipped a bit.

Stay tuned as the battle of the SkyNet StockBots continues.

Market Update Tuesday 09/29/20

After a few days of rally, US stocks eased back in anticipation of tonight’s presidential debate. The DJIA dropped 131 points (0.5%) and the NASDAQ slipped 203 points (0.3%). Gold and silver continued to rebound.

Stay tuned as the battle of the SkyNet StockBots continues.

Market Update Monday 09/28/20

US stocks picked up right where they left off on Friday, solidly in Buy Mode as the SkyNet BuyBots ruled the day from open to close. The DJIA jumped another 410 points (1.5%) and the NASDAQ soared 203 points (1.8%). Following last week’s drubbing, gold and silver returned to the plus side.

Stay tuned as the battle of the SkyNet StockBots continues

Market Update Friday 09/25/20

US stocks were fully back in Buy Mode as the SkyNet BuyBots ruled the day from open to close. The DJIA jumped 358 points (1.3%) and the NASDAQ soared 241 points (2.3%). Gold and silver retreated again.

Stay tuned as the battle of the SkyNet StockBots continues.

Market Update Thursday 09/24/20

It was a relatively quiet day of trading as US stocks zigged and zagged all day to end modestly higher. The DJIA recovered 52 points (0.2%) and the NASDAQ bounced 29 points (0.4%). Gold and silver stabilized with a small advance.

Stay tuned as the battle of the SkyNet StockBots continues.

10/01/20 – Mises Wire: Central Banks Double Down on the Failed Policies of the Twentieth Century

In a macroeconomics-driven world, economic fallacies abound. They are periodically trashed when disproved, only to arise again as received wisdom for a new generation of macroeconomists determined to justify their statist beliefs. The most egregious of these is that inflation can only occur as the handmaiden of economic growth, while deflation is similarly linked to a recession spinning out of control into the maelstrom of a slump. Read More.

Market Update Tuesday 09/22/20

US stocks extended yesterday’s late recovery, advancing steadily most of the day in relatively quiet trading. The DJIA gained 142 points (0.5%) and the NASDAQ jumped 184 points (1.72%). Gold and silver dropped a bit further.

Stay tuned as the battle of the SkyNet StockBots continues.

09/29/20 – Charles Hugh Smith: Helicopter Money and the End of Taxes

Rather than right the ship, the “easy fix” is to distribute “free money”–not just to billionaires and corporations but to everyone. The system of collecting taxes and distributing the dough is a zero-sum game: each dollar of tax revenue paid by someone and given to someone else is one dollar that the taxpayer will no longer have to save or spend. Meanwhile, the recipient received a dollar that would not have been available without taxes. Read More.

Market Update Monday 09/21/20

Last week’s selloff continued in Sunday night’s futures session, as the SkyNet SellBots sent US stocks sharply lower at the open of trading on Wall Street. The selling abated a bit in the last hour, bouncing stocks off the lows of the day.

Monday’s stock-market selloff sets up worst September in 18 years

The DJIA plunged 510 points (1.8%) and the NASDAQ ended down only 14 points (0.2%). Gold and silver got smashed as well.

Stay tuned as the battle of the SkyNet StockBots continues.