Stocks soar despite anemic GDP

As the first quarter ends Friday we see that while sentiment has exploded, economic growth is muted. On Thursday the feds released the third revision (not the final revision since it will be changed again and again) of GDP for the final quarter of 2016 and the year. The latest revision of Q4 showed growth […]

Dow industrials get coal instead of 20K

As I wrote on Dec. 19th, Dow 20K was not in the cards this year. The Dow rose 11.7% from The Trump election to its all-time high close of 19,974.62 on Dec.20, and then churned lower. This wall came with the backdrop of the Fed raising rates a week prior and the Trump administration coming […]

Taking stock of equities run up

Yesterday we spoke of traders window-dressing their returns at year’s end to make clients portfolios look better. Monday’s trading was not that, it was the black-box algos trading up to set new all-time high records on the Dow Jones industrials, the broader S&P 500 and the tech-laden Nasdaq. The President-elect’s honeymoon is being extended as […]

June’s a tune up for rest of the year

So June is here and the living isn’t easy. Last week I wrote about the adage, selling in May and going away. Here are the index levels on 5/27/16 and for the last day of May: Dow Jones: 17,828.29   17,787.20 S&P 500: 2,090.10   2,096.96 Nasdaq: 4,901.77   4,948.06 Gold: $1221.30   $1,218.60 Silver: $16.30   $15.99 US 10-year: […]

Why is your nest egg still in the stock market?

Wake up! What is the upside to keeping your 401(k) or other retirement funds in stocks. Did you learn nothing from 2008? You are on the wrong side of the Federal Reserve and a global recession. The major indices are down over 11% this year alone. More than $16 trillion has been lost in global […]

Fed vice chair Fischer tries to talk up inflation

Former Israeli central banker and now Vice Chair of the Federal Reserve Stanley Fischer was jawboning at Jackson Hole conference over the weekend, since Fed chief Janet Yellen did not attend. He believes the Fed is on track to raise rates this year, until it won’t be able too. He also said the Fed won’t […]

How Now Dow Bow

Did yesterday’s trading halt on the New York Stock Exchange signal the final transformation for the storied exchange from a symbol of capitalism to a TV studio? Almost four hours of no trading and yet the other exchanges and “dark pools” picked up the slack fine with strong volume numbers. Is it time the NYSE […]