People love to talk about winning streaks and why not, it’s a fun topic. Leading up to the month of May, the U.S. stock market had been on one of its own, marking a series of new highs from the first of the year. However, the tide went out of the market in a classic […]
Increased volatility is a clear and present danger to investor sentiment after the trade war tension ratcheted up a few notches this past week due to increased tariffs on both U.S. and Chinese goods. Global markets are still betting that a final deal ultimately will be reached, but there is growing evidence that both sides […]
The rally has run into some overhead resistance from the escalation of the trade war with China, the S&P is trading at the high end of the price-to-earnings (P/E) range (currently 17X) and we’re heading into the summer months where the market historically has under-performed. At the same time, there is tremendous sales and earnings […]
For most of the month of April, I highlighted the strong technical action for world markets year to date (YTD) when the economic data outside the United States prior to mid-April lacked much to write home about. But for all us who respected the charts, the strong price action in global indexes was simply a […]
The latest read on the first-quarter gross domestic product (GDP) of 3.2% for the U.S. economy has provided another empirical piece of evidence that the bull market’s prosperity has legs. The notion of a 2019 recession has faded quickly, even in light of some high-profile earnings misses from the likes of Intel Corp. (INTC), 3M […]
Heading into the long Easter holiday weekend, the bulls were firmly in control of the current market’s direction. Strong earnings from market bellwether companies like JPMorgan (JPM), CSX Railroad (CSX), Blackrock (BLK), Johnson & Johnson (JNJ), PepsiCo Inc. (PEP), Union Pacific (UNP), Netflix (NFLX), United Rentals (URI), Blackstone Group L.P. (BX) and American Express (AXP) […]
The narrative of a second-half 2019 recovery for the global economy is starting to gain wider-spreading credibility as optimism grows about closure to a U.S.-China trade deal and avoiding a hard-Brexit. Further optimism for investors comes from dovish central bank policy both here and abroad that is keeping rates low amid modest inflation data. Those […]
The first quarter is now in the record books as the stock market has posted its best gains in 16 years. What is not to be believed is that the first week of the second quarter kept up the bullish momentum while heading into a new financial-reporting season in which S&P earnings have been forecast […]
For all the negative talk surrounding the future prospects for the economy, the folks working at the high-yield trading desks aren’t listening. Typically, the junk bond market is a harbinger of things to come and is forecasting an economy that is and will stay on cruise control for the foreseeable future. In the chain of […]
Markets moved lower Friday following strong weekly gains after it was reported that Europe’s economy is faltering further amid weak manufacturing data and what is looking like a difficult exit for the United Kingdom from the European Union (EU). Major European indices traded in the red after the latest flash Manufacturing PMI readings in Germany […]
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