“There’s another way to think about it, and that would be the market knows the news is going to be bad economic data and the market knows it’s going to get worse,” said Art Hogan, chief market strategist at National Securities. “The market knows even good companies are going to report earnings and pull their guidance. The market is looking t…[Read more]

Total US GDP: $18,638 Billion
More than half ($9,439 billion) of that comes from just 8 states:

CA: $2,722 billion (15% of US GDP)
TX: $1,713 bil (9%)
NY: $1,436 bil (8%)
FL: $925 bil (5%)
IL: $770 bil (4%)
PA: $712 bil (4%)
OH: $605 bil (3%)
NJ: $556 bil (3%)

Financial Times Questions for Jerome Powell: Is Powell still optimistic about the second half? – since the last meeting oil has crashed…

Any new guidance on rates? – negative rates are not relevant at the moment for the US…

Will there be more tapering? from $75 bn per day to “only $10 bn per day…things have improved (and TYVIX has…[Read more]

UBS: $BYND stock “does not reflect risk from reduced restaurant traffic, consumer trade-down (BYND patty is 2x price of regular patty) or increased CPG competition. While pandemic/pork shortages are driving more at-home
consumption for BYND products,” we cut to Sell. Target $73

Mizuho: “Late on Friday S&P affirmed Italy’s rating at BBB Negative. Action was perhaps unlikely given that S&P had previously indicated that they will not rush into drastic rating action, and will focus on the country’s long-term growth potential. ECB buying is expected to cover most new Italian debt issuance due to the pandemic, but S&P not…[Read more]