Dow went up 81, advancers over decliners 5-2 & NAZ fell 74. The MLP index gained 2+ to the 146s & the REIT index added 2 to the 349s. Junk bond funds continued in demand & Treasuries wee off a tad. Oil rose to 36 & gold crawled up 1 to 1751.
AMJ (Alerian MLP Index tracking fund)
Adidas (ADDYY) will close all of its US stores after looting throughout the country hit retailers trying to recover from coronavirus' impact on sales. The German company had shared an anti-racism message on its social media over the weekend. "Together is how we move forward," Adidas wrote on its Instagram. "Together we have the power to make a change. Together we must fight what is wrong and try to make it right." Looters cleaned out Adidas stores in Los Angeles, Chicago & New York City over the weekend. The news comes after ADDYY reported a rough Q1 in Apr. "Our results for the first quarter speak to the serious challenges that the global outbreak of the coronavirus poses even for healthy companies," CEO Kasper Rorsted said at the time. It's unclear when some of these businesses will reopen. Community members in cities from Long Beach, California, to Philadelphia came together yesterday to clean up the aftermath. The stock dropped 2.07.
If you would like to learn more about ADDYY, cllick on this link:
club.ino.com/trend/analysis/stock/ADDYY?a_aid=CD3289&a_bid=6ae5b6f7
Pres Trump has threatened to deploy the US military to "restore safety and civility in America" if governors refuse to deploy the National Guard to put an end to riots across the country sparked by the death of George Floyd. "I am mobilizing all available federal resources, civilian and military, to stop the rioting and looting, to end the destruction and arson, and to protect the rights of law-abiding Americans," Trump said. "Today I have strongly recommended to every governor to deploy the National Guard in sufficient numbers that we dominate the streets. Mayors and governors must establish an overwhelming law enforcement presence until the violence has been quelled. If a city or state refuses to take the actions that are necessary to defend the life and property of their residents, then I will deploy the United States military and quickly solve the problem for them." The move would require Trump to invoke the Insurrection Act, a 213-year old law established in 1807 giving the pres the authority to deploy US troops on active duty. Trump vowed that justice will be served for George Floyd & his family but said we "cannot allow the righteous cries and peaceful protesters to be drowned out by an angry mob." Trump specifically targeted the protests in DC from Sun night calling them a "total disgrace." He warned that the gov will strictly enforce a 7PM. curfew for the city & that those inciting violence will be held accountable. "Those who threaten innocent life and property will be arrested, detained and prosecuted to the fullest extent of the law," Trump said. "I want the organizers of this terror to be on notice that you will face severe criminal penalties and lengthy sentences in jail" The news comes following an announcement from the White House yesterday that the White House would establish a command center to help state & local govs put an end to violent protests.
GDP now projected to fall nearly 53% in second quarter, according to Fed gauge
These are trying times for economy between recovering from an economic depression & civil unrest. At least investors are have been able to hold up by keeping their optimistic outlook for the economy.
Dow Jones Industrials
AMJ (Alerian MLP Index tracking fund)
| CL=F | Crude Oil | 36.18 | +0.74 | +2.1% |
| GC=F | Gold | 1,755.00 | +4.70 | +0.3% |
Adidas (ADDYY) will close all of its US stores after looting throughout the country hit retailers trying to recover from coronavirus' impact on sales. The German company had shared an anti-racism message on its social media over the weekend. "Together is how we move forward," Adidas wrote on its Instagram. "Together we have the power to make a change. Together we must fight what is wrong and try to make it right." Looters cleaned out Adidas stores in Los Angeles, Chicago & New York City over the weekend. The news comes after ADDYY reported a rough Q1 in Apr. "Our results for the first quarter speak to the serious challenges that the global outbreak of the coronavirus poses even for healthy companies," CEO Kasper Rorsted said at the time. It's unclear when some of these businesses will reopen. Community members in cities from Long Beach, California, to Philadelphia came together yesterday to clean up the aftermath. The stock dropped 2.07.
If you would like to learn more about ADDYY, cllick on this link:
club.ino.com/trend/analysis/stock/ADDYY?a_aid=CD3289&a_bid=6ae5b6f7
Adidas closes all US stores after looting: report
Pres Trump has threatened to deploy the US military to "restore safety and civility in America" if governors refuse to deploy the National Guard to put an end to riots across the country sparked by the death of George Floyd. "I am mobilizing all available federal resources, civilian and military, to stop the rioting and looting, to end the destruction and arson, and to protect the rights of law-abiding Americans," Trump said. "Today I have strongly recommended to every governor to deploy the National Guard in sufficient numbers that we dominate the streets. Mayors and governors must establish an overwhelming law enforcement presence until the violence has been quelled. If a city or state refuses to take the actions that are necessary to defend the life and property of their residents, then I will deploy the United States military and quickly solve the problem for them." The move would require Trump to invoke the Insurrection Act, a 213-year old law established in 1807 giving the pres the authority to deploy US troops on active duty. Trump vowed that justice will be served for George Floyd & his family but said we "cannot allow the righteous cries and peaceful protesters to be drowned out by an angry mob." Trump specifically targeted the protests in DC from Sun night calling them a "total disgrace." He warned that the gov will strictly enforce a 7PM. curfew for the city & that those inciting violence will be held accountable. "Those who threaten innocent life and property will be arrested, detained and prosecuted to the fullest extent of the law," Trump said. "I want the organizers of this terror to be on notice that you will face severe criminal penalties and lengthy sentences in jail" The news comes following an announcement from the White House yesterday that the White House would establish a command center to help state & local govs put an end to violent protests.
Trump threatens this action to 'restore safety and civility in America'
Economic activity in Q2 has been
cut by more than ½, according to a tracker employed by the Atlanta
Federal Reserve. The GDPNow outlook is now showing a 52.8% tumble, following data yesterday that US
manufacturing remains firmly in decline & will weigh on investment and
consumption. That data from the Institute for Supply Manufacturing
showed just 43% of firms seeing expansion in May. Extrapolating
from that data, the Atlanta Fed anticipates personal consumption
expenditures, which make up 68% of the nation’s GDP,
to fall 58% in Q2. Gross private domestic
investment, which accounts for 17% of GDP, is now projected to slide
63%. The GDPNow reading undergoes regular revisions &
generally is more accurate as it gets closer to the end of the qtr (Jun 30). The New York Fed's GDP Nowcast, which was
last updated before the ISM release, estimates a 35% Q2 drop, while
CNBC's Rapid Update survey of leading economists has a median 38%
decline. The blow to the economy comes as most states have begun to relax stay-at-home restrictions stemming from the coronavirus pandemic. Even with the reopenings, the economic data for the period is expected to be among the worst the US has ever seen. Fri's
nonfarm payrolls report is expected to show that another 8.3M
Americans lost their jobs in Apr, bringing the unemployment rate to
19.5%. That's on top of the 20.5M payrolls drop in Mar & a
14.7% jobless level. The current slide in activity has
been unique in that it has been led by services sector, rather than
manufacturing or construction as is common in recessions. Of the jobs
lost in Apr, 17.2M came from the services side, including
nearly 7.7M in leisure & hospitality.
GDP now projected to fall nearly 53% in second quarter, according to Fed gauge
These are trying times for economy between recovering from an economic depression & civil unrest. At least investors are have been able to hold up by keeping their optimistic outlook for the economy.
Dow Jones Industrials
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