Dock Treese www.treeceinvestments.com
Dock Treece Good News Wednesday December 16, 2020
Good news Wednesday and stocks come through. All three major indices were up as Congress inches toward another covid relief package.
Lumber prices are up 120% since April but have moderated since September. Lumber cost has added, on average. $16,000 to the cost of a single family house.
A real life story about customer service.
A quote from the WSJ story, "Industrial production decreased sharply in March and April as the coronavirus pandemic took hold in the U.S., but has gradually recovered in subsequent months. The pace of gains slowed in late summer and into the fall, however, and output overall in November remained 5% below February levels, according to the Fed."
Dock Treece Tuesday December 15, 2020
Tuesday, stocks were up in the morning but sold off in the afternoon. The DOW saw a 400+ intraday swing. The decline was a surprise given the vaccine hit the street yesterday.
The decline may have been driven by NYC Mayor de Blasio warning that he may order a full shutdown in the next few days.
The U.S. Treasury computer system was hacked, in March, and was only recently discovered. But never fear the voting system cannot be hacked.
The following quotes from the WSJ consumer confidence article are very confusing, " In its November Survey of Consumer Expectations, the central bank found households reporting the highest level of expected spending growth since July 2016, at a predicted 3.7% rise for a year down the road,". Followed by, "Despite the expected rise in spending, “respondents were more pessimistic about their households’ financial situations in the year ahead, with more respondents expecting their financial situation to deteriorate,".
Dock Treece Monday December 14, 2020
Monday, the DOW was up Friday but the S&P and the NASDAQ were down.
Pfizer ships the vaccine for delivery today.
IPO market is the hottest since 1999. As proof Airbnb is now worth more that Marriott, Hilton and Hyatt COMBINED.
Huntington Bank announced a merger TCF Financial.
Friday I talked about the price of oil rising while gas prices are low. I think I discovered one of the reasons.
Oracle leaves California for Texas. Quote from the article, "...yet another of the Bay Area’s best-known brands — Oracle — is pulling up stakes and headed east to Texas, too."
Dock Treece 12-11-20
Friday, stocks were little changed yesterday and the news is conflicting. New jobless claims rose but job opening in manufacturing hit an all time high. And everywhere I look I see 'now hiring' signs.
We are in a pandemic driven recession yet U.S. household net worth hit a record in the third quarter. Stock and housing prices are credited with the gains.
A quote from the attached article "The net worth of U.S. households rose to a record in the third quarter as the value of stock portfolios and real estate surged, a Federal Reserve report showed, highlighting the skewed nature of an economic recovery that has disproportionately benefited wealthier Americans."
What's your plan?
Dock Treece Thursday December 10, 2020
Thursday, stocks took a rest yesterday. Oil hit its highest level since before the pandemic. Job openings surprised to the upside.
Yesterday I spoke about the price of flat steel rising and today I found the attached article. The web site is not mainstream but the charts interested me. The article includes charts that show the increasing prices of commodities and the declining value of the dollar. It would be hard for anyone to look at these charts and argue there is no inflation.
Away from the markets Hunter Biden appears to have legal problem as he is officially being investigated according to a statement he released. Let's not jump the gun on his guilt. 17 states are now supporting Texas in their voter fraud case and 48 states have filed suit to break up Facebook.
Dock Treece Good News Wednesday December 9, 2020
Good news Wednesday and stocks come through. Dow was up but the S&P and NASDAQ hit all time highs.
More details on the NFIB numbers.
Redbook retail sales slipped.
A friend who uses flat steel in his business emailed me yesterday that prices on flat steel have gone from .30 per pound to .50 per pound in the past few months and it looks like it is headed higher. Don't worry there is no inflation.
Elon Musk is in the news for several reasons: 1) Tesla is going to issue and sell more stock. 2) FCC awards Musk's SpaceX / Starlink $886 million in subsidies. 3) Elon Musk moves his residence to Texas. Quote from the article:"Taking up residence in Texas comes with personal benefits for Mr. Musk: The state doesn’t collect state income or capital-gains tax for individuals. The auto executive qualified this year for billions of dollars in stock-option compensation as part of a pay-package agreement, making him the second-richest person in the world."