Last Week During the Vietnam War, Cat Steven’s wrote the optimistic tune “Peace Train”, suggesting that “something good has begun”. Wall Street has jumped on board that train, believing the party line that the framework to end the conflict with Iran and restore...
Last Week The University of Michigan’s Consumer Sentiment Index fell to a record low in May as surging gas prices and renewed inflationary pressures intensified affordability concerns. The peace negotiations showed little sign of progress, and government bond yields...
Last Week In the 1970s the US suffered through two energy crises, first in 1973 and then again in 1979. During that 7-year time span the stock market sputtered with the Dow Jones Industrial Average declining from over 1003 to 824. The 1979 oil crisis, sometimes...
Last Week The stock market and the Chicago Cubs are setting records and on winning streaks, fueled by a stronger-than-expected U.S. jobs report, upbeat earnings, particularly from the Technology sector, and clutch hitting. The S&P 500 gained 2.7%, the Russell 2000...
Last Week The stock market marched to new record highs as a barrage of strong earnings reports from Big Tech firms outweighed a hawkish and divided Federal Reserve policy decision, a spike in oil prices, and continued uncertainty around the path to peace in the Middle...
Last Week Despite peace talks stalling out and oil prices surging, the financial markets remained stable. Strong corporate earnings reports and solid economic data offset the war news. S&P 500 blended earnings for the quarter increased to 15.1% from 13.0% the week...
Last Week It was a “risk on” party across the financial markets. The S&P 500 gained 4.5%, the Nasdaq Composite rose 6.85, and the Russell 2000 added 5.6%. Advancing issues more than tripled the number of declining issues, as the Technology sector soared 8.4% while...
Last Week Wall Street heard a few measures of a peaceful, easy feeling, and the market did not let us down, with all the major indexes posting significant gains. Once again, it was the war narrative that moved the markets. The verse of “a whole civilization will die...
Last Week The stock market snapped its five-week losing streak on Wall Street, as equities traded higher during the holiday-shortened week, fueled by a stronger-than-expected March jobs report and some optimism that President Trump is moving towards ending the war...
Last Week Trading started on an upbeat note on Monday after President Trump suggested the war in Iran was nearing an end. Trading closed on Friday at recent lows as the war raged on with no end in sight. Nothing else mattered. The S&P 500 lost 2.1%, the Nasdaq...