By Tom Burnett CFA In a well covered speech on October 6, 2020, Federal Reserve Chairman Jerome Powell repeated his call for greater fiscal support to help maintain the economic recovery. He noted that half the jobs lost due the Covid-19 pandemic and the measures to control the outbreak have been restored…
By Tom Burnett CFA On October 2, 2020, the Bureau of Labor Statistics reported its employment data for September. Total jobs, public and private, rose by 661,000 to 147.6 million, the largest figure since the Covid-19 outbreak crushed the economy in March. Total employment one year ago was 158.3 million…
By Tom Burnett CFA In the most recent FACTSET report dated September 18, 2020, the consensus estimates for earnings for the S/P 500 Index companies have been revised to $166.35 for the 2021 year. In the July 24 report, the estimate was $163.17. Similarly, the consensus estimate for the 2020 year has…
By Tom Burnett CFA On September 16, 2020, the Federal Reserve Open Market Committee released its monthly view on economic policy. The Statement was not unanimous, but the two dissenting members gave complex statements and neither one opposed the current low interest rate policies. The Fed is concerned…
By Tom Burnett CFA According to the latest compilation from research firm FACTSET, corporate earnings estimates for the S/P 500 companies have reversed their earlier downtrend. For example, the 2020 estimate is now $132.12, up from $126.79 in the July 10 report. Earnings are now expected to rise 25%…