In my view November’s unemployment report was strong in all dimensions, a strength few had expected. The large 321,000 gain in non-farm payrolls, together with the 44,000 upward revision to the two proceeding months increases the odds the FOMC will increase interest rates sooner than...
Perhaps the biggest surprise of 2014 is the collapse of oil prices. In June crude was around $110/barrel. At one juncture yesterday, prices were around $65/barrel following a 2 day 10% plunge, the result of the OPEC meeting where production was not cut....
Welcome to December. According to Bloomberg the S & P 500 has advanced each December for the past six years. Will 2014 make it seven?...
The unexpected strength of third quarter GDP growth, which was revised up to 3.9% annualized rate from 3.5%, is further evidence the economy is on the verge of finally reaching escape momentum. Consensus had expected a nominal downward revision to 3.3%. The past six months...
Today third quarter GDP is revised. Consensus is now expecting third quarter growth to be 3.3% versus the previously reported 3.5% rate. Is this of any significance?...
As noted several times the entire industrialized world is or has experimented with QE. China, which is the second largest global economy, lowered interest rates for the first time since 2012 on Friday....
Stocks rose following an increase in German investor confidence as that country averted a recession as its economy unexpectedly grew during the third quarter. Equities were also positively influenced by the suspension of the increase in the Japanese sales tax, the cause for that country’s...
In my view the headlines are ugly. Ebola. Ukraine. ISIS. Eurozone. Japan. China. Emerging markets....
Consumer confidence in November according to the University of Michigan survey rose to an eight year high. Reflecting upon the data, one should not be surprised confidence is this high as equity and home prices are rising, gasoline is plunging and job growth is accelerating....
Stocks were relatively quiet as declines in small-cap and energy shares offset stronger than expected earnings. Oil fell to the lowest level in four years on signs that OPEC will not cut production....