Category Archives: Investing

Market Recap

Posted on February 5, 2021 by Gemmer Asset

  Weekly Recap In today’s world, just wait a week and the story will change. Last Friday it was all about the GameStop moonshot. This week, with the stock off over -86% from the closing high, not so much.     I can’t bring myself to go down the GameStop rabbit hole. Probably the best coverage I’ve seen comes from Matt Levine at Bloomberg. Suffice it to say, the moral of the story is simply…
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Market Recap

Posted on January 15, 2021 by Gemmer Asset

  Weekly Recap   Another month another stimulus plan. This is getting to become something of a routine. After a $900bn plan was signed into law in December, President-elect Biden outlined his plan for another $1.9tn Thursday night. His plan calls for:   – Direct payments of $1,400 to most Americans, bringing the total relief to $2,000, including December’s $600 payments.   – Increasing the federal, per-week unemployment benefit to $400 and extending it through…
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Market Recap

Posted on January 8, 2021 by Gemmer Asset

  Weekly Recap   Welcome to 2021. Apparently this year is going to start where 2020 left off, but with a touch of insurrection added to the mix. Wednesday was undoubtedly surreal, and on top of what we saw on T.V, it proved to be the deadliest day to date in the U.S. since the CVOID crisis started. But none of this could keep the market down. On Thursday the NASDAQ had the best day…
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Market Recap

Posted on December 19, 2020 by Gemmer Asset

    Weekly Recap   A solid week for the markets as Pfizer’s vaccine distribution kicked into gear and Moderna’s was approved. And we shouldn’t forget the Chinese and Russian options. As you can see below, these are being picked up in much of the developing world.   On the economic front the news was downbeat in the U.S. as renewed lockdowns/restrictions had their predictable impact. The key reports:   Weekly Unemployment Claims   Another…
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Market Recap

Posted on December 11, 2020 by Gemmer Asset

  Weekly Recap   A lot of crosscurrents in the markets as 2020 nears its end. We hit an unfortunate milestone yesterday with more than 3,000 deaths in the U.S. and over 100K hospitalized, as you can see below.     And as we are all experiencing, we are seeing renewed lockdowns in many parts of the country. However, unlike earlier in the year the year, lockdowns are not being accompanied by fiscal support. As…
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Market Recap

Posted on November 20, 2020 by Gemmer Asset

  Weekly Recap   Well there’s the path and the destination. Over the last couple weeks the destination has become a little clearer. Possibly three vaccines approved by year-end if we don’t count the Russian and Chinese versions. Distribution to high risk individuals/professions by the middle of 2021. Maybe widespread distribution by this time next year. Of course, there are a tremendous number of assumptions in this view, but it seems we are moving in…
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Market Recap

Posted on November 6, 2020 by Gemmer Asset

  Weekly Recap   One of the crazier weeks in a long, long time, both from a political as well as a market perspective. Obviously, the political backdrop is…what’s the word???…fluid at the moment. But the betting markets at least are pointing to a 92% chance of a Biden win, as you can see below.     The Senate is a closer run thing, but so far the same betting markets are giving the Republicans…
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Market Recap

Posted on October 30, 2020 by Gemmer Asset

  Weekly Recap   It was a rough week all around and the markets reflected the uncertainty. Even bond yields ticked higher despite the drubbing in the equity markets. A renewed surge in COVID infections and uncertainty heading into next week’s election were obvious triggers for the correction. Interestingly, the earnings and economic reports were decent. But the markets are naturally forward looking, and the outlook is as murky as it has been in a…
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Market Recap

Posted on October 16, 2020 by Gemmer Asset

  Weekly Recap   The equity markets were generally softer this week as COVID infections pushed higher and talks on another fiscal package stalled out. There wasn’t much on the economic news front, but two reports stand out.   Retail Sales   A solid report. Sales growth picked up again in September, increasing a stronger-than-expected 1.9%. As you can see below, retail sales have easily eclipsed the high set pre-COVID.     Revisions to prior…
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Market Recap

Posted on October 2, 2020 by Gemmer Asset

  Weekly Recap   What else does 2020 have up its sleeve? This week started with an ‘earthquake swarm’ in Southern CA and ended with the President and First Lady’s COVID diagnosis. What’s next??   The main economic news was Friday’s payrolls report. Nonfarm employment increased by 661,000 in September, about 200,000 shy of expectations. This disappointment was partly offset by an upward revision to July and August job growth of 145,000. Private employment expanded…
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