Yesterday was a sleepy day. Today may bring more of the same given the already thinned trading ranks will become even smaller as this is the eve of a three day weekend, the last hurrah of the summer....
There is little I can write about yesterday’s market action. A report showed there was the biggest ever jump in durable goods orders and consumer confidence unexpectedly increased....
Many are surprised at the unrelenting equity advance. Three weeks ago all were pontificating the much needed “correction” was at hand. After a 4% decline, some declared a correction had occurred and the rally can now continue. I remarked if this was indeed “a correction,”...
The much hyped speech of FRB Chair Yellen has come and gone with little impact. Yellen’s remarks were similar to that of the July FOMC Minutes which showed the Committee growing more aware that labor markets are approaching full employment albeit the “underutilization of labor...
The much hyped speech of FRB Chair Yellen has come and gone with little impact. Yellen’s remarks were similar to that of the July FOMC Minutes which showed the Committee growing more aware that labor markets are approaching full employment albeit the “underutilization of labor...
Some are interpreting the FOMC Minutes as hawkish. The Minutes unexpectedly stated the Committee is closer to agreement on an exit strategy from aggressive stimulus, raising the possibility that it might increase rates sooner than anticipated....
Has an improving job market and cheaper borrowing costs revived the residential real estate market? Home construction rebounded in July by the greatest amount since November, rising by 15.7% to a 1.09 million annual rate. Permits also exceeded expectations, rising by 8.1% to a 1.05...
Stocks rose on a light volume rally, the result of a possible easing of global tensions. It was reported Russia made some inroads in “difficult” talks in Berlin and Kurdish/Iraqi forces made significant progress against militants, retaking control of that country’s largest dam....
Stocks quietly rose yesterday amid optimism that tension between Russia and Ukraine will ease and American airstrikes will push back militants in Iraq. The question at hand are geopolitical risks waning or is this just a pause. Obviously all hope the former....
Approximately 15-16 years ago the prevailing view on Wall Street is that the business cycle was dead. The global economies had entered into a New Paradigm where this newly created multipolar interdependent world would make war and conflict prohibitly expensive under the simple guise that...