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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.

Market Update Friday 09/18/20

This week’s selloff continued in the overnight futures session, as the SkyNet SellBots sent US stocks sharply lower at the open of trading on Wall Street. The selling continued until precisely 1:30 PM EDT (“funny” how that happens) when the BuyBots finally stepped in and rallied stocks to cut the day’s losses. The DJIA ended down 245 points (0.9%) and the NASDAQ tanked 117 points (1.1%). Gold and silver gained a bit.

Stay tuned as the battle of the SkyNet StockBots continues.

Market Update Thursday 09/17/20

Yesterday afternoon’s selloff continued in the overnight futures session, as the SkyNet SellBots sent US stocks sharply lower at the open of trading on Wall Street. From there, stocks zigged and zagged their way into a solidly lower close. The DJIA ended down 130 points (0.5%) and the NASDAQ tanked 140 points (1.3%). Gold and silver slipped a bit.

Stay tuned as the battle of the SkyNet StockBots continues.

Market Update Wednesday 09/16/20

Morning trading was quiet ahead of Fed Head Jerome Powell’s afternoon press  Following the Fed’s announcement that it will not even consider considering raising interest rates for years to come, surprisingly, stocks sold off.

Fed sees interest rates near zero until end of 2023

The DJIA held on to a 37 point gain (0.1%) but the NASDAQ sank 139 points (1.3%). Gold and silver slipped a bit.

Stay tuned as the battle of the SkyNet StockBots continues.

09/23/20 – Stephanie Landsman: Economist Stephen Roach issues new dollar crash warning, sees double-dip recession odds above 50%

Evidence supports ‘seemingly crazed idea’ that dollar will crash: Stephen Roach
Economist Stephen Roach warns next year will be brutal for the dollar. Not only does he see growing odds of a double-dip recession, the Yale University senior fellow believes his “seemingly crazed idea” that the dollar would crash shouldn’t be so crazy anymore. Read More.

Market Update Tuesday 09/15/20

In quiet trading ahead of tomorrow’s Federal Reserve meeting, US stocks opened a bit higher and then zigged and zagged into the close. The DJIA just about broke even and the NASDAQ added another 133 points (1.2%). Gold and silver were little changed.

Stay tuned as the battle of the SkyNet StockBots continues.

09/22/20 – Kevin Stankiewicz: Billionaire Barry Diller calls stock market ‘great speculation,’ urges everyone to save cash

Billionaire media mogul Barry Diller on Tuesday urged investors to maintain sizable cash positions following the stock market’s robust rally from coronavirus-induced lows in late March. “Personally, and professionally, every nickel you can, keep it … wherever it’s banked,” the chairman of both Expedia and digital media group IAC said on CNBC’s “Squawk Box.” Read More.

09/22/20 – Chris Martenson: Collapse Is A Process, Not An Event

Look, I’m a systems guy. I think in systems terms. You should as well. Why? Because we’re entering a period of time when the major systems that have supported  humanity are going to fail. Or, put more accurately: they are already failing. As just one example, our monetary system delivers outsized gains to the already stupendously-wealthy while piling up massive debts on the backs of we citizens, both born and yet-to-be-born. Read More.

Market Update Monday 09/14/20

Following last week’s drubbings, the SkyNet BuyBots took control in the overnight futures, sending US stocks sharply higher at the open of trading. From there, stocks zigged and zagged into the close. The DJIA jumped 327 points (1.2%) and the NASDAQ soared 203 points (1.9%). Gold and silver resumed their rallies.

Stay tuned as the battle of the SkyNet StockBots continues.

Market Update Friday 09/11/20

US stocks were back in split decision mode as the SkyNet Sell Bots took another whack at tech stocks.sending US stocks opened a bit higher and then zigged and zagged into a mixed close. The DJIA ended higher 131 points (0.5%) and the NASDAQ dropped 66 points (0.6%). Gold and silver continued to consolidate recent gains.

Stay tuned as the battle of the SkyNet StockBots continues.