The economy continued to bounce back in June with 4.8 million jobs added.  However, as this linked WSJ article notes, this was prior to the roll backs of opening phases due to sharply higher increases in Covid-19 cases.  From the article:

The jobless rate fell to 11.1% in June as the U.S. regained 4.8 million jobs, but a recent coronavirus spike could hamper the labor market’s recovery.

Job growth in June followed May’s payroll gain of 2.7 million and showed Americans are slowly getting back to work. But the U.S. labor market is operating with millions fewer jobs than in February, the month before the coronavirus pandemic struck the U.S. economy.

The jobless rate, down from 13.3% in May, is still well elevated at historically high levels compared to before the coronavirus drove the U.S. into a deep recession. Until March, the unemployment rate was hovering around a 50-year low of 3.5%.

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IRS Eases Rules on Returning RMDs

by Marilou Moursund on June 23, 2020 in COVID-19

The IRS announced today that anyone who took an RMD this year can return it by August 31 without a penalty. The waiver of the requirement to take a RMD was part of the relief granted to Americans due to the pandemic. From the linked WSJ article: On March 27, President Trump signed into law […]

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Rochester, NY, and the Rise and Fall of Technology – courtesy of Geopolitical Futures

by Marilou Moursund on October 23, 2019 in Recommended Reading

We spend a lot of our time researching companies and trying to identify new technologies that are going to dominate their sector. I really enjoyed this piece by George Friedman of Geopolitical Futures. He writes about the history of the Erie Canal and the rise and fall of iconic companies like Eastman Kodak and Xerox. […]

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The September ISM Index Drags the Market Down

by Marilou Moursund on October 1, 2019 in Economic Indicators

The September ISM index came in at 47.8, the lowest reading since March of 2009.  A reading below 50 indicates that the economy is contracting.  From the linked WSJ article: The global manufacturing slowdown worsened in September, and trade flows are set to grow this year at the weakest pace since the financial crisis as […]

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How about some good economic news

by Laura Ehrenberg-Chesler on August 22, 2019 in Earnings

A number of retail stores have reported earnings for the 2nd quarter of 2019, and they are good. This morning, Ed Yardeni explains what this means for the economy. ” Consumer spending, looked at from many different angles, still looks healthy. Consumers are spending at Walmart and at Target. They’re spending at restaurants and hotels. […]

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Capital One Data Breach

by Marilou Moursund on July 31, 2019 in Banks

Capital One just announced that 100 million customers in the U.S. and 6 million in Canada had their personal information stolen. From the linked WSJ article: In this latest massive consumer-data breach, a hacker accessed the personal information of 100 million Capital One credit-card customers and applicants in the U.S. and six million in Canada. The breach […]

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Possible Good News for China Trade Talks

by Marilou Moursund on June 12, 2019 in Foreign Markets

The New York Times is reporting that China has been beefing up its trade negotiations team. This could indicate that they are more willing to work with the U.S. to come up with a compromise trade deal. From the linked article: BEIJING — Two weeks before talks between the United States and China broke down, […]

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Good News for Veterans on D-Day

by Laura Ehrenberg-Chesler on June 6, 2019 in Healthcare

From USA Today: “Veterans will have expanded access to medical care outside Department of Veterans Affairs facilities beginning Thursday under a law signed by President Donald Trump last year and touted as a major achievement by Trump on the campaign trail. Rules established under the law and published Wednesday in the Federal Register say the VA […]

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The Market Falls Again on Trade Worries

by Marilou Moursund on May 9, 2019 in equity market

After a quiet day yesterday, the market is again falling on the possibility of a protracted trade war with China. From the linked CNBC article: Stocks steadied Wednesday after two days of brutal selling that particularly slammed companies and sectors with exposure to China, like Caterpillar and the semiconductor industry. The market lost its gains late in […]

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China’s Xi discusses Reforms

by Laura Ehrenberg-Chesler on April 26, 2019 in Foreign Markets

CNBC reported today that China’s Xi Jinping spent a good portion of his speech about global trade talking about reforming his country’s approach on this issue. “Instead of focusing solely on his signature investment initiative, Chinese President Xi Jinping spent a good portion of a speech at the Friday opening ceremony of China’s Belt and […]

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