Stocks jump, US factory orders up big in July, and Pelosi gets a blow-dry
WASHINGTON – It’s Tuesday September 2, 2020. And what have we got? Day 2 of another stock market melt-up, building on a surprisingly bullish August. Helping averages today: news that US factory orders posted an “unexpected” jump in July. While September often proves a harrowing month for US markets, we’re happy to watch stocks jump again today, though we remain wary. Meanwhile, in other important news, we learned that a mask-less Nancy Pelosi just got a wash and blow-dry at a San Francisco hair salon. Wasn’t that business supposed to be closed? More later.
About those US factory orders that made stocks jump
Yes, the new numbers for July factory orders surprised Trump-hating economists again this morning, according to a report from ZeroHedge.
“After a solid 6.2% surge in June, US factory orders were expected to improve on that bounce with a 6.2% rise in July (especially after the scream higher in ISM Manufacturing’s New Orders index yesterday), but the data was even better with a 6.4% rise (and a revised higher 6.4% rise in June).”
The chart below (hat tip: ZH) illustrates the ongoing, and thus far V-shaped recovery in this key market indicator. But don’t expect to encounter this encouraging news on cable TV or the Internet, because, Orange Man bad. Even when stocks jump. Many days in a row.
While this ZH report follows up by trying to debunk this positive story for some reason, and while setbacks can and will occur in the run-up to Election 2020, these factory orders stats prove, yet again, that despite the propensity of Blue states to keep their populations under strict house arrest, the rest of the US economy insists on bouncing back.
The US government is following the rioters’ money
The economy might bounce back even faster if, back in Washington, the Department of Homeland Security (DHS) and the Department of Justice (DOJ) could somehow work a bit more boldly to follow the money (as “Deep Throat” once advised). The objective: to find out just which groups, which foreign governments, which Democrat PACs and donors, which non-governmental organizations (NGOs) and which mega-rich international criminals businessmen are behind the funding of their wholly-owned army of faux-Communist Brownshirts and Maoist revolutionaries. Namely, the Antifa thugs and the (mostly white) BLM idiocrats.
Hopefully, DHS, DOJ and (perhaps) other law enforcement agencies are finally back doing their jobs (mostly), after President Trump’s latest cleanout of Obama-appointed Deep Staters and Commie moles. He launched that effort after the President’s victory in Schiff-for-brains’ fake impeachment gambit. It continues today, and the DHS-DOJ seditionist thug-hunt seems well underway. If the increasing number of thug arrests continue, some of these violent snowflakes will sing. And when we hear their song, we’ll watch stocks jump again. Big time.
Fancy Nancy Pelosi breezily violates San Francisco’s economic boycott
To some point, the current violent unrest in this country continues to be encouraged, of course, by President-in-Waiting Nancy Pelosi. It was she who caved in to the seemingly impervious AOC-led insurgents who are currently running the party. Adding her frothing Trump-hatred to an abiding fear of being upstaged and defenestrated by AOC’s faux-Commie upstarts, she’s joined their crusade and is as guilty as the rest of them for the pre-planned chaos in the streets that erupted this spring.
Meanwhile, to keep up her appearances, Fancy Nancy managed to elude San Francisco’s current shutdown order for hair parlors of all kinds, according to yet another ZH piece posted Tuesday morning.
Do as I say, not as I do. – Pelosi and Pelosi-crats
“House Speaker Nancy Pelosi (D-CA) – who invited people to tour Chinatown in late February to prove that coronavirus was ‘no big deal’ – has just been caught ignoring a San Francisco city ordinance ordering hair salons to remain closed during the pandemic.
“According to security footage obtained by Fox News, the 80-year-old lawmaker was seen at San Francisco hair salon ‘eSalon’ Monday afternoon for a wash and blow-out at 3:08 p.m. according to a timestamp on the footage, which shows her walking through the salon without a mask over her mouth or nose.
“Her stylist, however, can be seen walking behind her with a black face mask.”
Ah, yes. Once again in the Democrats’ Never-Never Land, the rules are for thee but never for me. Check out that Fox News link above. Seeing is believing.
But, but… what about….
Oh, sure, lefties will reply. Didn’t Lyin’ Ted Cruz defiantly engage some tonsorial artistry in Texas when local hairdressers of all kinds were supposed to be closed. Well, yes, he did. But he made sure the press covered the event to provide some needed cover for the beleaguered owner who was already under legal attack for trying to save her business.
To the contrary, Fancy Nancy sneaked into that San Fran salon, sansmask, of course, because, well, she’s a lot more important than us, and her wizened 80-year old appearance likely needed refreshed.
Actually, she’d be better off getting new dentures that fit. But that’s another story.
What Pelosi demonstrated was something that the sentient among us already know. She and her House and party functionaries are fraudulent fossils trying to do whatever they can to cause the very first complete train wreck of an American election in the history of this country.
Are traders and investors writing off America’s ongoing “revolution”?
Interestingly enough, most traders and investors know what’s up as well. But they seem to be placing their bets on the current administration’s continuity, or we wouldn’t be seeing stocks jump, continuing the melt-up we experience and enjoy.
This, too, despite the obvious continuing attempt to overthrow America’s local, state and ultimately Federal governments by a small, well-paid cadre of anarcho-communist thugs. If things were ultimately fated to turn out very badly, we’d expect markets to be tanking right now. But they’re not.
Things could change, of course. But right now, Mr Market seems fairly well convinced that things will continue to get better and the country will continue to recover from the way-overdone coronavirus lockdowns that wrecked the economy.
Apple and Zoom: Back to Mr Market
Apple shares (trading symbol: AAPL) are losing a few points today after a vigorous post-split rally Monday, pretty much the way we thought this might go. On the other hand, after posting unsurprisingly great earnings for their most recent quarter Zoom (ZM) reversed yesterday’s screaming rally for a bit of a reversal today. Rationally, whatever you think of 2020’s surprise hit stock, you gotta take those profits sometime. And it looks like Tuesday was the day, at least according to CNBC.
“Shares of Zoom dropped more than 6% Wednesday, as investors likely took their profits from Tuesday’s stock surge.
“The videoconferencing software company’s stock soared 41% on Tuesday after it reported fiscal second-quarter earnings that were better than analysts had expected and raised its full-year guidance. The company reported that its revenue more than quadrupled during the quarter.”
We made a token Zoom buy today. Mainly because we missed its huge rally, which began in earnest this spring. That was when every school, college and doctor’s office in the country adopted this relatively new company’s software interface. The goal: to recreate educational and medical experiences virtually. And for the first time for many. Could be a future game-changer. Better even than rapidly increasing factory orders.
List of coming attractions?
In an upcoming quarter, assuming business gets back to some semblance of normal by January 2021 (and assuming that US cities don’t all look like Dresden after its WW II firebombing), Zoom may come back down to earth a bit, at which point it might be an even better buy. Should that happen, we’d likely heavy up a bit. As for now, we’ve just taken a starter position.
But somehow, something serious has changed here, business and education paradigm-wise. Meaning Zoom and, perhaps, a few competitors might be here to stay. Big time.
More as fast-moving events occur. Have a good one.
– Headline image: Is the Great Trump Bull Market back? A definite maybe. But keep watching the news.
Image via Wikipedia entry on bulls. Image via Bart Hiddink, CC 2.0 license.