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Business, Economics, and Taxes: Capitalism. Yay? >=(

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This winter will be just like it was in March/April/May, particularly in the northern states. It'll be alright for now if you're in a white collar industry that allows you to work remotely, or your work is essential (education, healthcare, shipping, warehousing, some manufacturing), but it'll be a disaster if you work in any sort of service/hospitality industry.
 
FadeToBlack&Gold said:
This winter will be just like it was in March/April/May, particularly in the northern states. It'll be alright for now if you're in a white collar industry that allows you to work remotely, or your work is essential (education, healthcare, shipping, warehousing, some manufacturing), but it'll be a disaster if you work in any sort of service/hospitality industry.
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Yeah all those jobs Trump likes to pretend he created are all going away and this time they may not come back for quite some time. I know my second job isnt even discussing re-opening which means my big money season (January through April) is already all but dead.

Too bad too...if I had been able to make this year what I did last year I would be putting money into my trading account because November 4th is going to be a nice day to invest I do believe ;-)
 
Kepler said:
So, what happened with the earnings reports? Was it Gotterdammerung?
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Well...

Futures on the Dow Jones Industrial Average dropped 200 point. The S&P 500 futures fell 0.9% and the Nasdaq 100 futures slid 1.2%..

Shares of Apple fell more than 5% in extended trading after the tech giant reported a 16% decline in iPhone sales and failed to offer investors any guidance for the quarter ahead. Amazon dipped 1.5% even after the e-commerce giant reported blowout third-quarter results with a big beat on the top line.

Wall Street staged a modest rebound on Thursday on the back of better-than-expected U.S. gross domestic product and jobless claim data. The 30-stock Dow gained more than 100 points for its first positive day in five, while the S&P 500 rose 1.2% to snap a three-day losing streak. The tech-heavy Nasdaq Composite climbed 1.6%.

Still, major averages are on pace to post their worst weekly performance in months. The Dow is down 5.9% week to date, on pace for its worst week since March 20. The S&P 500 has fallen 4.5% this week, headed for its worst week since June 12.
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From the looks of it Amazon and Google reported higher than expected earnings, Twitter didnt meet expectations and Apple not getting the IPhone sales they expected didn't help. Dow finished up (barely) but futures has already offset that. As seen in the quote Apple slid as did Amazon as did Twitter.

Basically it turned out exactly how they were hypothesizing yesterday...Earnings would be good, but not good enough to have any real impact. All the Indexes will likely finish down for the week, down for the month with no end in site until either a vaccine or the Inauguration. I mean if Amazon can report 37% growth and that cant goose this then yeah...
 
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Handyman said:
From the looks of it Amazon and Google reported higher than expected earnings, Twitter didnt meet expectations and Apple not getting the IPhone sales they expected didn't help. Dow finished up (barely) but futures has already offset that. As seen in the quote Apple slid as did Amazon as did Twitter.

Basically it turned out exactly how they were hypothesizing yesterday...Earnings would be good, but not good enough to have any real impact. All the Indexes will likely finish down for the week, down for the month with no end in site until either a vaccine or the Inauguration. I mean if Amazon can report 37% growth and that cant goose this then yeah...
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So insofar as it's a slowdown, (1) duh and (2) baked in.

That's what I would have expected.
 
WaPo profiled a WV business owner today who owns a construction business and a restaurant.

constructin is booming, but restaurants is dead, and the owner blames lack of gov support.

Teehee, I guess even west Virginians can be convinced of socialism when it’s for them
 
A government program that helps me is hard-headed, job-creating investment.

A government program that helps you is hare-brained, incentive-destroying communism.
 
Boss makes a dollar, I make a dime
That was a poem from a simpler time
Boss makes a dollar, I don't make jack
That's why I riot to seize the means back
 
FadeToBlack&Gold said:
No one in a precarious financial situation can afford a $1200+ phone right now, so Apple's report is no surprise.
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Well duh...but the market wasnt expecting that kind of a drop off. I think if this was any other period that number would have caused a bit of a sell off but since the market is looking for ANYTHING that can show a bit of stability it got over-emphasized.

Kepler,

Yeah pretty much. Even if Earnings Week had done what they were hoping the indexes werent going to recover much of the losses. COVID has guaranteed that as has a President who has no plan for anything. The market is freaking out which is why Cramer was saying it is time to bake in the the COVID already and just accept we are where we are so the it doesn't swing so wildly. Trump screwed up his own "economy is booming" bs by tweeting out that he didnt want stimulus negotiations to continue like a month ago adding to the worry already there that McConnell is not going to do it anayways. (Trump forcing the issue would have been the last hope)
 
Next time someone asks about my investments... "both avocados should be ripe tomorrow."

And upon receiving my MSW in August 2022, I better find an amazing job. The amount of debt I'll be in is... I really don't want to talk about it.
 
Markets up...CNBC is all over the place about how politics are going to matter. They seem to be both hedging that nothing will happen no matter who President is and that either/or could be bad. Basically believe as long as Stimulus passes things will be fine. Not sure I buy that at all...
 
Handyman said:
Markets up...CNBC is all over the place about how politics are going to matter. They seem to be both hedging that nothing will happen no matter who President is and that either/or could be bad. Basically believe as long as Stimulus passes things will be fine. Not sure I buy that at all...
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I really think a Biden win or prolonged fight where Biden wins is baked in. Occasional sell off if he does, but nothing like a Covid drop (just like how Trump's win was rumored to tank the market but never did).

Look for rollercoaster movement if Trump wins or argues his way to a win.
 
The host of Halftime was outright begging for someone to say the Blue Wave was bad and none of them would do it. I usually like that guy but he seems to have an agenda today...

I liked when the one investor explained how this is no different than 2016. The S&P had a huge day, the Dow was up like 300 points the day before the election.

I turned it off now because all they are doing is fellating Apple over the new phone and Mac computer.
 
Handyman said:
The host of Halftime was outright begging for someone to say the Blue Wave was bad and none of them would do it. I usually like that guy but he seems to have an agenda today...

I liked when the one investor explained how this is no different than 2016. The S&P had a huge day, the Dow was up like 300 points the day before the election.

I turned it off now because all they are doing is fellating Apple over the new phone and Mac computer.
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I enjoy the trio of Squawks, especially when the various hosts have differing opinions on news all morning. Becky Quick is the best at asking guests questions I'm screaming at my radio. And the love-hate relationship Andrew Ross Sorkin and Joe Kernan have is great radio.

David Faber knows just which buttons to push on Jim Cramer on Squawk on the Street to get him wound up, which also makes for great radio.

And Squawk Alley is where, to me, it cuts out the morning show theatrics and gets down to the news.

I have learned a lot from the network since February. I still don't know a lot, but im still learning. I think its still the best way to get news as of late..
 
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