Stock Giants Report Earnings This Week – What Will They Show For The Economy?
In the last several weeks I showed you the various health, economic, and investment impacts Covid is having on the entire economy… And more importantly what this means for you.
This week major corporate earnings are back on the docket with more than 1,650 companies reporting this week… Including some giants.
- Johnson & Johnson
And these are just a few of the large worldwide companies reporting updated earnings this week. Why am I watching this closely?
The government released a lot of bad economic data in the last month showing deterioration in the economy.
This leads to higher unemployment and shows both the overall economy and us as workers and individuals are struggling.
If earnings from some of the biggest companies in the world show economic deterioration as well… It would mean almost all aspects of the economy are deteriorating.
From us as consumers and individuals all the way up to companies and the entire economy.
When this happens, economics for us all will get worse far faster than they get better.
This is an even bigger deal because of what I told you last week after Covid Vaccine maker Moderna CEO Stephane Bancel said the following…
Public health officials and infectious disease experts have said there is a high likelihood that Covid-19 will become an endemic disease, meaning it will become present in communities at all times, though likely at lower levels than it is now.
Moderna CEO Stephane Bancel appeared to agree Wednesday that Covid-19 will become endemic, saying “SARS-CoV-2 is not going away.”
“We are going to live with this virus, we think, forever,”
Unfortunately, things got even worse this week economically…
As more cities and states institute lockdowns, employment is getting crushed.
New weekly unemployment filings rose to their highest level since late August this week with 965,000 new claims filed.
Almost 12 million people are now on state or federal unemployment benefits.
An estimated one in six small businesses are expected to close their doors in the coming months because of the lockdowns and job losses.
And now 10 months into this pandemic the US has about 10 million fewer jobs than it did before the pandemic.
These are having massive ripple effects for the entire economy…
I mentioned a couple examples last week about landlords and renters having major issues… This week another horrific stat came out during the weekly jobless claims update.
More than 900,000 Americans lost jobs and filed for unemployment this week which is horrific by itself.
Even worse… Since the pandemic began more than 70 million Americans have filed for unemployment benefits in the last 10 months.
This means in the last 10 months 40% of the entire US workforce has filed for unemployment benefits at one point or another.
40%… That’s 2 out of every 5 work age Americans.
That’s almost inconceivable.
And with new cases and deaths still exploding as of this writing leading to more lockdowns its likely to get worse…
This is almost guaranteed if earnings from some of the worlds business giants come in lower when they report in the coming days.
That’s what I’m watching this week.
You already know how to protect yourself… Here’s how I recommend you protect your retirement portfolio – because if the economy doesn’t get back on track soon… A major Bear Market is coming.
If you’re looking for the best way to protect your portfolio as the economy hangs in the balance…
Make sure you’re in great stocks that have the following traits…
- They’re cheap.
- They have little to no debt compared to a lot of cash.
- They produce large profits and cash flows.
- And make sure they aren’t in industries that could be hammered by more closures.
To see some of those kinds of stocks that will help you Depression Proof Your Portfolio – Click the links below.
- 3 Stocks That Will Earn You High Returns In The Coming Depression.
- One Thing To Do Today To Protect Your Investments
- 5 Reasons To Buy British American Tobacco
- 3 Stocks To Depression Proof Your Portfolio – Stock #1
- 3 Stocks To Depression Proof Your Portfolio – Stock #2
- 3 Stocks To Depression Proof Your Portfolio – Stock #3
- 4 Reasons To Buy Cummins To Depression Proof Your Portfolio
- 5 Reasons To Buy JM Smucker
- 5 Reasons To Buy General Mills
- 5 Reasons To Buy IBM
- 5 Reasons To Buy Johnson & Johnson
- 2 More Reasons To Buy J.M. Smucker
- 4 Reasons To Buy Microsoft – And 1 Not To
- 5 Reasons To Buy Sony
- 3 Reasons To Buy Wheaton Precious Metals
- Why You Still Need To Wait To Buy Microsoft (MSFT)
- Should You Still Buy Marlboro Owner Altria (MO)?
- Should You Buy Cummins (CMI) After Its Earnings?
- Is Wheaton Precious Metals A Buy After “Record Quarter?”
- 3 Reasons To Buy Waste Management – When This Happens…
- Is Clorox Still A Buy After Sales Rise 27%?
- J.M. Smucker (SJM) Cash Flow Increases 103% – Is It Still A Buy?
- Is Homebuilder Lennar LEN) A Buy After It Reaches An All Time High?
- After General Mills Earnings Rise 17% – Is It Still A Buy?
- Buy This Hugely Profitable 4.6% Dividend Paying Miner
- Is Gaming Giant Nintendo A Buy?
Disclosure – Jason Rivera is a 13+ year veteran value investor who now spends much of his time helping other investors earn higher than average investment returns safely. He does not have any holdings in any securities mentioned above and the article expresses his own opinions. He has no business relationship with any company mentioned above.