Today, initial jobless claims have dropped below 1 million to 963,000, seasonally adjusted for the week ending August 8. This is the first time that initial jobless claims fell below the one million level since the beginning of the pandemic in March.

Warren Buffett’s Berkshire Hathaway bought $5 billion of its own stock in Q2 – and yet it was a net seller of equities by $13 billion. What gives?

Initial claims data and the plummeting of the Turkish Lira as the Central Bank of Turkey withdraws key liquidity measures.

The latest week’s initial unemployment claims figures came out today. And they show claims have plummeted from their highest levels three weeks ago. I take this as a signal that the second wave of viral infections is not leading to a second large wave of layoffs. The seasonally-adjusted initial claims figure came in at 1.186 […]

An analysis of gold’s epic rally – and could there be a short squeeze on the horizon?

On Monday, the state of Kentucky, seeking “compensatory and punitive damages,” sued hedge funds Blackstone and KKR & Co. Inc.

It seems now that all of Capitol Hill is finally embracing the fact that the virus will not be slowing down any time soon and that they need to implement policies that demonstrate substantial strength in their response to the pandemic.

What the hell is going on? While U.S. equities continue to appear calm and stable, a look at the U.S. credit markets reveal that chaos is still roiling beneath the surface.

Critical Market Context for the Week Ahead. There doesn’t seem to be a time in recent memory where Wall Street and Main Street have been so estranged from the other.