Led by tech, equites declined. There are numerous uncertainties…the Fed, tariffs, earnings, inflation, political issues including impeachment and other threats, Brexit, etc. Oil however initially rose as Saudi Arabia unilaterally reduced oil exports by 500,000/day in December, calling for other producers to do the same, cutting...
Producer prices rose more than forecast in October for the biggest jump in six years on broad gains in costs for goods and services. The core rate or ex food and energy was also up more than forecasted, rising 2.6% from October 2017 and 0.5%...
The outcome of the Fed meeting was as largely as expected. The Central Bank is on course to increase rates in December as strong economic growth, higher tariffs and rising wages look set to spur inflation. The Fed stated “economic activity gas been rising at a...
Equity markets led by technology staged a strong post-election advance. Gridlock is the new positive buzz word and yesterday’s era will last into perpetuity following October’s speedbump. Typically strong advances like the one experienced yesterday, the percentage of advancing S & P 500 stocks is over...
The midterms are over. There is infinite number of opinions about the possible outcomes. Economics prevailed in the Senate as the Republicans increased their number of seats but lost in the House as power shifted for the first time in eight years. In some regards the...
Today is Election Day. There will not be a shortage of opinions about the outcome. I have framed today as a battle between the economy and the traditional outcome of midterms amplified by the anathema of President by the Establishment To refresh all historically voters vote...
It is election eve. Simplistically explained, it is economic growth versus Presidential anathema from the Establishment and the Elites. What side will be the victor? Perhaps the only certainty...
The next several days could be pivotal in determining the intermediate direction of the markets given the multitude of high profile events. Last night Apple’s earnings were posted. Initial interpretations were negative with shares at the time of this writing down about...
Welcome to November. As widely noted October was the worst month since 2011. Will the rout continue? Many times I have commented about the massive imbalances in the markets. It appears every aspect of the market—compliance, trading, portfolio management, etc.—has gravitated to passive/index investing where by...
President Trump may soon label China a currency manipulator. While I will skip the obvious notion that all countries manipulate their currencies either overtly (devaluation) or covertly (monetary policy), such a declaration may have wide ranging implications....