“PARTY LIKE IT IS 1999”
The comparisons back to 2000 are increasing daily. A major difference between today and yesterday is the massive concentration of wealth in just a few names. The pressure to...
01 September, 2020
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THE ELECTION, FED POLICY AND VALUES
I do not think it is an understatement to write the next two months might be one of the most contentious Presidential election season in decades. Drama will be great as COVID is the ...
31 August, 2020
THE NASDAQ 100 IS UNSTOPABLE; POWELL’S UPCOMING REMARKS
The comparisons between 2000 and 2020 are rising exponentially. Last year the NASDAQ 100 rose 38%. In 2020 amid a raging recession and plunge in profits, the ...
27 August, 2020
WILL THE ELECTION BECOME THE PRIMARY ISSUE?
The Republican Convention commenced Monday night. As with the Democratic Convention, TV viewership is down considerably. According to Bloomberg, on a percentage basis the ...
26 August, 2020
STATISTICS ARE STILL ENCOURAGING
Markets advanced Friday as the Markit composite PMI rose further above 50 in August and adds to the evidence that the rebound in economic activity has been resilient to both the ...
24 August, 2020
IT IS NOW THE S & P 5 NOT THE S & P 500
Perhaps Brown Brothers Harriman put today’s market into proper perspective when the firm stated...
20 August, 2020
A MARKET OF FIVE
The market has retraced its March lows. The issue at hand, according to Goldman 61% of this retracement is the result of only five stocks. Most have opined that today’s market is the most ...
19 August, 2020
MUSING ABOUT A COVID VACCINE AND THE CONVENTION
Perhaps the most imperative question of the day is whether or not a COVID vaccine is at hand. And if so, will it turbo-charge the economic recovery already underway?...
18 August, 2020
JULY’S RETAIL SALES AND CONSUMER CONFIDENCE DATA
July’s overall retail sales disappointed, rising only by 1.2% vs. the consensus estimate of 2.1%, thus suggesting the rebound is stalling. June’s data however was...
17 August, 2020
WEEKLY JOBLESS CLAIMS UNDER 1 MILLION FOR THE FIRSTTIME SINCE MARCH 13…THE DEFINITION OF “NARRATIVE”
Initial jobless claims again surprised on the downside, falling below 1 million for the first time since March 13. For the week ending August 8 initial jobless claims were 963,000 vs. the ...
14 August, 2020