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Last Week: In the words of the legendary rocker Bruce Springsteen, “You can’t forsake the ties that bind”. In today’s market those “TIEs” are Trade, Interest rates, and Earnings. Trade continues to dominate the narrative, probably because President Trump is a master...
Last Week: Wow, what a strange week. Let’s call it the Good, the Bad, and the Confusing. The Good: Corporate earnings are terrific. It now looks like 20.8% net profit growth on a 9% revenue increase. The Bad: US housing starts fell 12.3% in June to a nine-month low,...
Last Week: Global trade tensions once again dominated the news, as the U.S. announced additional tariffs on $200 billion of Chinese goods. Curiously, the S&P 500 responded by rallying 1.5% and the Dow Jones Industrial Average 2.3%. I believe Fed Chairman Jerome...
Last Week: Goldilocks is still alive and well, as evidenced by the Bureau of Labor Statistics initial report on the labor situation in June, which was neither too hot nor too cold. While the unemployment rate increased slightly from 3.8% to 4.0%, the entire increase...
Last Week: “TINA”, which stands for there is no alternative (to equities), has been the battle cry for the bulls during this nine- plus year rally in the market. The gamble by the Federal Reserve that pushing short-term risk-free interest rates down to zero percent...
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