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US stocks opened narrowly mixed but after a few early morning zigs and zags, it was all downhill into the close. The SkyNet SellBots were boosted by renewed fears that the US economy might not “reopen for business” as quickly as previously hoped. The DJIA plunged 457 points (1.9%) and the NASDAQ got smashed by 189 points (2.0%).

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

05/17/20 – Michael Snyder: 10 Numbers That Show The U.S. Has Fallen Into A Horrifying Economic Depression

The last recession was really, really bad, but it was never like this. It is time for us to face reality, and that means admitting that the U.S. economy has plunged into a depression. This is already the worst economic downturn that America has experienced since the Great Depression of the 1930s, and we are right in the middle of the largest spike in unemployment in all of U.S. history by a very wide margin. Read More.

Market Update Monday 05/11/20

It was another split decision in relatively quiet trading on Wall Street today as the tech stocks continued to lead the way higher. The DJIA dropped 109 points (0.5%) and the NASDAQ gained 71 points (0.7%).

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

05/15/20 – Tyler Durden: Job Openings Plunge Most On Record Amid Mass Layoffs, Plunge In Hiring

With the BLS’s JOLTs, or job openings and labor turnover, survey coming in with an extra month delay, we already knew that the March data would be dismal (especially considering the total implosion in April when over 20 million people lost their jobs), and sure enough that’s what happened when the BLS reported that in March the number of job openings plunged from an upward revised 7.004 million to just 6.191 million, the 813K monthly drop the largest on record going back to 2000. Read More.

05/15/20 – Tyler Durden: Fed Warns Stocks Face “Significant Declines” If Pandemic Worsens

Just moments after equities closed near the highs on Friday after yet another retail-driven rush into the stock market, the Federal Reserve poured cold water over all the bulls when the central bank unexpectedly issued a stark warning that stock and other asset prices could suffer “significant declines” should the coronavirus pandemic deepen – which we hope is not a shock to anyone – while highlighting that commercial real estate, which as we showed just yesterday just won’t stop collapsing, will be the hardest-hit industries. Read More.

Market Update Thursday 05/07/20

The SkyNet BuyBots, boosted by renewed reports of progress with US-China trade talks,   gained control in the overnight futures session, sending US stocks sharply higher at the open of trading on Wall Street. The rally continued until precisely 2:00 PM EDT (“funny” how that happens) when the SellBots stepped in and started chipping away at prices. The DJIA ended higher by 211 points (0.9%) and the NASDAQ outperformed once again, gaining 125 points (1.4%).

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

Market Update Wednesday 05/06/20

US stocks zigged and zagged all day to a widely divergent close. The DJIA dropped 218 points (0.9%) but the NASDAQ outperformed once again, gaining 45 points (0.5%).

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

05/13/20 – Tyler DUrden: Druckenmiller Turns Apocalyptic: “Risk-Reward For Equities Is As Bad As I’ve Seen It In My Career”

Investing legend Stan Druckenmiller unleashed a firehose of cold water on market bulls today during an interview with the Economic Club of NY (the same venue that will interview Jerome Powell tomorrow on the topic of negative interest rates), when he said the “The risk-reward for equity is maybe as bad as I’ve seen it in my career,” (although “the wild card here is the Fed can always step up their purchases”) , Read More.

05/13/20 – Jeff Deist: How Bad Is It?

How bad is it? That is the question on everyone’s mind as we come to grips with the economic carnage caused by global economic shutdowns, supply chain disruptions, and ongoing quarantines of million of people. Do we face another Great Depression, or simply a deep recession more like 2008? And equally important, are soft Americans prepared for either?Read More.

Market Update Tuesday 05/05/20

The SkyNet BuyBots gained 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 until precisely 3:00 PM EDT (“funny” how that happens) when the SellBots stepped in and cut the rally in half by the close. The DJIA ended higher by 133 points (0.5%) and the NASDAQ lead the way again, gaining 98 points (1.1%).

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

05/12/20 – Dorothy Hinchcliff: David Rosenberg Says the Bulls Are in Fantasyland

David Rosenberg bluntly told attendees Monday at John Mauldin’s Virtual Strategic Investment Conference 2020 that the stock rallies in recent weeks ignore reality and don’t recognize that the United States is likely entering a depression, facing double-digit unemployment for at least three years, secular changes in consumer spending and saving, and deflation followed by stagflation. Read More.

Market Update Monday 05/04/20

The SkyNet SellBots picked up right where they left off Friday, sending US stocks sharply lower at the open of trading on Wall Street. But it was all uphill from there as the BuyBots stepped in and mounted a strong rebound into the close. The DJIA ended higher by 26 points (0.1%) and the NASDAQ lead the way again, jumping 105 points (1.2%).

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