April 24, 2017

This is going to be a busy news week.  The headline over the weekend was the French election.  This will be the biggest week for reported corporate earnings.  On Friday, the U.S. government shuts down unless Congress can agree on a funding package to keep it open.  President Trump would like to see Congress vote […]

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April 21, 2017

Stocks rallied sharply yesterday amid favorable earnings reports and indications that Republicans might be coming together on an agreement to repeal and replace Obamacare. Let’s start with earnings.  Typical of most quarters, as the flow increases recurring trends become apparent.  Companies tend to beat analyst estimates by a modest margin.  This time, however, with the […]

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April 19, 2017

Stocks fell yesterday in reaction to disappointing earnings reports from Dow components Johnson & Johnson# and Goldman Sachs.  Excluding those two names, prices were mixed. Look at the recent news.  We have had some disappointing early earnings reports.  Besides the two mentioned above, Wells Fargo had a bad quarter and IBM# had its 20th consecutive […]

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April 17, 2017

Stocks fell on Thursday in front of the long holiday weekend after news reached traders that the U.S. had launched a large missile attack in Afghanistan.  But once the dust settled, the economic importance of the event faded.  The headline news over the weekend was rather quiet.  Even Trump’s tweet level subsided.  Probably the biggest […]

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April 12, 2017

Stocks continue to trade within a very narrow range amid a bit of a lull in front of earnings season which starts tomorrow as the big money center banks begin reporting results. We are also approaching the 100-day mark of the Trump administration.  As always, when a new President takes office, there are high expectations […]

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April 10, 2017

Friday’s weak employment report was largely shrugged off by investors and stocks finished mixed within a narrow range.  Weather almost certainly had an impact on the March data making it difficult to interpret.  Despite the lower than expected jobs growth, the unemployment rate fell to 4.5% and wages continued to rise, suggesting the solid labor […]

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April 7, 2017

Stocks closed mixed, giving back most of the early morning gains for the second session in a row, not a particularly good trading pattern, but not one that will shake the confidence of long term investors, at least not yet. Overnight, of course, the big story was the airstrike in Syria.  The U.S. sent 59 […]

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April 5, 2017

Stocks rose slightly in a listless session.  10-year bond yields hit a new low for the year of 2.31% before moving back up.  Bond investors, at least, seem to be questioning the ability of our economy to sustain, much less improve upon, the growth acceleration that has occurred over the last six months. On Monday […]

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April 3, 2017

Stocks usually fall on the last day of the quarter as portfolio managers do some window dressing.  They did so again Friday.  Nonetheless, Q1 will go into the books as a solid one with gains of about 5% for the leading averages and over 10% for the NASDAQ.  It was the sixth up quarter in […]

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March 2017 Economic Update

Humpty Dumpty Sat on a Wall Tune in as Jim Meyer, Chief Investment Officer at Tower Bridge Advisors shares his perspective on the “Trump rally” and what has actually been driving the market. The President has outlined some bold plans, but proposing change and enacting change are two different things. Jim shares his view of […]

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