July 19, 2017

Stocks advanced yesterday after a series of strong earnings reports.  While only a small fraction of companies have reported Q2 earnings so far, almost 75% have beaten expectations on both the top and bottom lines.  Thus, despite, all the troubles in Washington, stocks are moving higher.  On the other hand, without any economic tailwinds emanating […]

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July 17, 2017

Stocks closed Friday at record highs despite some disappointment with earnings of three of the largest U.S. banks. Last week extended a record string of individual shareholder bearishness: according to the American Association of Individual Investors, only 28.2% were bullish. This marked the 20th straight week that bullish sentiment was below its long term average. […]

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July 14, 2017

Stocks edged higher, continuing Wednesday’s rally after Fed Chair Janet Yellin testified before Congress that she expected the Fed to take a gradual approach relative to future interest rate increases. Over the last several sessions the leading tech stocks have staged solid rebounds recovering much of their recent losses. But with one or two exceptions, […]

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July 12, 2017

Stocks marked time yesterday as politics once again trumped (no pun intended?) economic news. First there was the story of dirty politics surrounding Donald Trump Jr. Suffice to say, dirty politics isn’t a unique story, it probably won’t change the way we go about our lives, and time will tell how this story plays out. […]

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July 10, 2017

Stocks rose on Friday after a stronger than expected employment report. This week will be a relatively light one for data. Both PPI and CPI numbers will come out later this week as well as a preliminary look at June retail sales. June figures will likely remain weaker than normal given what we already know […]

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July 7, 2017

Stocks fell about 1% yesterday against a backdrop of a somewhat weak prediction for today’s employment report and foreign policy concerns related to North Korea’s recent ICBM launch, and the upcoming meeting today between President Trump and Vladimir Putin. You probably are tired of my harping persistently about my “two-day” rule.  But it works more […]

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July 5, 2017

Stocks generally rose on Monday in a holiday-shortened session with light volume. Interest rates, especially at the long end of the curve, continued to creep higher. Despite the pre-holiday mood with lots of traders away, there was a flurry of economic data which confirmed little deviation in the economy’s path. Manufacturing continued to be solid, […]

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July 3, 2017

Stocks rose on Friday although they gave back about half of their gains in the final few minutes. Once again, high profile tech names, like Alphabet#, and Amazon, were the day’s big losers. Oil prices improved somewhat. Today we will get our first real peek at June with the release of manufacturing PMI and auto […]

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June 30, 2017

Stocks took a beating yesterday, led by sharp declines in technology shares that fell, on average, by about 1.5%. Republicans kept working on a health care bill, but no solution seemed close. News that tax cuts related to capital gains might not be enacted could have affected investor moods, but most of the selling appears […]

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June 28, 2017

Stocks fell, led by the NASDAQ which dropped by close to 2%. Economic data continues weak, interest rates rose following sharp increases overnight in Europe, the Senate Republicans failed in an effort to move healthcare reform to the floor of the Senate, and the FANG stocks took a beating after getting close to their recent […]

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