JPMorgan’s Kolanovic Says S&P 500 Could ‘Easily’ Reclaim Record

July 8th, 2020|

By Lu Wang Relative valuation, fund positioning bode well for stocks Strategist says investors are mispricing virus, election risks (Bloomberg) -- The earnings season will kick off this month and may be the worst since the global financial crisis. Time to sell stocks? Not yet, according to JPMorgan Chase & Co.’s Marko Kolanovic. While profit expectations have

Months of Trial and Error in the ICU Offer Clues on How to Save Covid Patients

July 6th, 2020|

Sanja Jelic’s worst day in almost two decades as a critical care doctor in New York City was April 6. Faced with an unmanageable influx of coronavirus patients at Columbia University Irving Medical Center’s step-down unit, an intermediate care ward, Jelic made an unorthodox decision: she asked those struggling to breathe to roll onto their

Wall Street jumps on strong services sector, hopes of China recovery

July 6th, 2020|

U.S. stocks rose sharply on Monday as a rebound in U.S. services industry activity in June and expectations of a revival in China’s economy boosted optimism, helping investors look past a surge in new coronavirus cases in the United States. A non-manufacturing activity index jumped to a reading of 57.1 last month, the highest since

Bloomberg Intelligence: ISM Non-Manufacturing Index

July 6th, 2020|

The ISM non-manufacturing index confirmed that the economy is bouncing back fast, which supports risky assets, despite the worrying news on public health. The 57.1 reading in the service index implies real GDP growth of 2.9%, according to the ISM. If we look at the historic relationship between the SPX 500’s earnings estimate and the weighted composite ISM

U.S. manufacturing activity hits 14-month high

July 1st, 2020|

U.S. manufacturing activity rebounded in June, hitting its highest level in more than a year as the broader economy reopened, but rising COVID-19 infections threaten the recovery. The Institute for Supply Management (ISM) said on Wednesday its index of national factory activity jumped to a reading of 52.6 last month from 43.1 in May. That

U.S. consumer confidence for June jumps more than expected

June 30th, 2020|

Consumer confidence rose more than expected in June as the U.S. loosened stay-at-home and quarantine restrictions, raising hope for an economic recovery, according to data released Tuesday. The Conference Board’s consumer confidence index rose to 98.1 for the month. Economists polled by Dow Jones expected consumer confidence to rise to 91 from a May reading of