The sheer amount of panic that investors have felt in a matter of a few days has been real. Even the new mascot for day traders, the guy from Barstool Sports, literally said he’s overleveraged and lost millions in an instant. When people take on more risk than they even realize, eventually they face the consequences. The stock market doesn’t need to have a major crash for people to lose their shirts. It happens when ignorance becomes a foundational principle.
Weekly jobless claims miss estimates as employment gains taper
Weekly jobless claims were worse than expected last week amid a plodding climb for the U.S. labor market from the damage inflicted by the coronavirus pandemic. The Labor Department on Thursday reported 884,000 first-time filings for unemployment insurance, compared with 850,000 expected by economists surveyed by Dow Jones.
Jobless claims come in worse than forecast, and with a key ‘red flag’
The number of Americans filing new jobless claims last week remained unchanged, despite what experts were anticipating. The Labor Department on Thursday said that 884,000 Americans filed first-time jobless claims last week. Since officials also revised the previous week’s number of claims up to 884,000, there was no change in the amount of filings.
Manhattan rental market plunges, leaving 15,000 empty apartments
The number of empty rental apartments in Manhattan nearly tripled compared with last year, as more New Yorkers fled the city and prices declined. There were more than 15,000 empty rental apartments in Manhattan in August, up from 5,600 a year ago, according to a report from Douglas Elliman and Miller Samuel.
The stock market is detached from economic reality. A reckoning is coming. – The Hour
When the stock market surged last week, President Donald Trump was quick to tweet, “The Dow Jones Industrial just closed above 29,000!” The picture changed a bit after the Dow slid 800 points a few days later, largely driven by the poor performance of tech stocks, which continued after Labor Day weekend.
Crude Oil Prices Today | OilPrice.com
Crude oil prices & gas price charts. Oil price charts for Brent Crude, WTI & oil futures. Energy news covering oil, petroleum, natural gas and investment advice
Second wave of floating storage triggered by ailing oil market | Reuters
A stalled global economic recovery from the coronavirus pandemic is leading to a fresh build-up of global oil supplies, pushing traders including Trafigura to book tankers to store millions of barrels of crude oil and refined fuels at sea again.
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Baltic Exchange Dry Index | 1985-2020 Data | 2021-2022 Forecast | Price | Quote
The Baltic Dry Index, which measures the cost of shipping goods around the world, continued the downward trend into September to levels not seen since July as rates slipped across all vessel segments.
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The Money GPS is the most active, most informative channel in the financial world. Day after day, breaking down the data and making it easy to understand. This channel is not here to help build a portfolio, give stock picks, or financial advice. It’s simply data that is generally not found through conventional means.The stock market has advanced greatly in 2020. The bond market has performed quite differently. Equities have seen major inflows throughout this period. We have seen very low interest rates.
The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of The Duran.