Market Talk
It's funny how a weekend can clear out the sentiment of a Friday storm followed by clear skies of a Monday morning. We saw the downward jobs revision by the Bureau of labor statistics of over 200,000 less jobs than previously announced. That is a LOT less jobs than they reported! Now President Trump was" annoyed" and in Trump style declared the revision as politically motivated by democrats and fired the lady at the head of the statistics gathering agency. Now the President has been publicly berating the Federal Reserve Chairman J. Powell for not bringing down interest rates. The irony is that the one of the roles of Fed Policy is to monitor jobs as a factor in making rate decisions. So, the very reason he fired the lady is actually a fairly GOOD reason the Federal Reserve would lower rates! That's kind of ironic. However, one caveat: There are prior reports of announced labor statistics and then later revisions coming out that favored democrats, timed for elections. We'll leave it to the reader to make what they may out of it.
Stock Talk
Sometimes the trading action calls us to organize the portfolio to weigh the positions according to the outlook. On Friday, the market was dumping in fears of a slowdown because of the lower jobs' numbers. Today, the market is looking and thinking about a rate cut on September 17.
Without opining too much on various stocks that we already have good gains on and maybe trimmed some, perhaps in an IRA, I'll offer an update on a few stocks we watch.
Kinross Gold (KGC) mining reported a large quarterly earnings beat with an eps of 44 cents. This is a 33% earnings beat over average analyst expectations and shows an increasing earnings trend over previous results. It is the Jones report view that KGC is a real deal stock and currently quite undervalued and "should be" in the 20's.
The above result of increasing earnings by KGC is cause enough for notice that this particular post will forego noting of other stocks.
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If interested - scroll back and view notes on other stocks, we watch here at the Jones report. Why not? With the caveat that things change and we try to stay aware - It's all FREE to read and make your own calls and decisions. Finally - maintain some dry powder and trade or invest according to your own due diligence.
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More later so ....Stay tuned, if you dare !
For now, we close by noting that any view on the market and stocks on any particular day may change in the future days to come. That is why we watch and see how our views match up with the reality of the time. But trying to look ahead a few months into the future may be a way to do things. If you think too deep about world events and the recent alliances forming, projecting ahead can be a dicey endeavor. In all - we use the word maybe "some", not "too much" and play it accordingly. Remember, never get arrogant in our various notions because things do change in the market and individual stocks are subject to many factors outside of our control.. So we try to -stay aware.
With all the above caveats and attempted prognostications, I will close this post. Stay tuned for more opining on the market and stocks to watch.
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ALL in my humble opinion, scroll down and read more.This site does NOT make Buy / Sell recommendations.
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