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November 17, 2017

Stocks rebounded yesterday after a week of losses. Strong earnings from Wal-Mart# and Cisco were two catalysts. Another was the passing of the tax reform bill in the House. Getting reform done in the Senate will be a tougher task, but investors still believed, and rightfully so, that one step forward was worthy of a […]

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November 15, 2017

Stocks gave ground yesterday following the lead from overseas. Continued negative reaction to General Electric’s# big investor meeting also cast a bit of a pall over the market. A rally in the euro suggested that Europe is on a better economic path than the United States. The big focus this week and next will be […]

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November 13, 2017

Stocks were mixed on Friday.  For the week, stocks fell for the first time since early September. A lot of the focus for investors has been on the progress of tax reform.  Wall Street has generally been favorably inclined towards both the House and Senate versions to date.  While some, notably in high tax states, […]

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November 10, 2017

Stocks fell yesterday although they finished well off their morning lows. Investors were concerned that the Senate tax bill might be less favorable to corporations than the House bill. I suspect that if there is a final product, it will look different than either offering. I am also not sure whether old-fashioned profit taking was […]

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November 8, 2017

Stocks were mixed yesterday in a relatively quiet session. Oil prices stabilized after sharp gains Monday in the wake of turmoil in Saudi Arabia. President Trump’s Asian trip continues without much controversy to date although the major meetings still lie ahead. The dollar has continued to edge higher, while interest rates slowly decline. At home, […]

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November 6, 2017

Stocks finished higher again on Friday as the leading averages rose for the 8th straight week. All three leading averages have now set new records at least 50 times this year. This week will be a much slower week for data and earnings than last week, although about 40 S&P 500 companies are scheduled to […]

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November 3, 2017

Stocks were mixed yesterday on a day where the focus was on the introduction by the House Ways and Means Committee of its big tax reform plan. Also yesterday, President Trump announced the appointment of Jerome Powell to be the new Chairman of the Federal Reserve in February when Janet Yellen’s term expires. Today started […]

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November 1, 2017

While our hearts and prayers are with those who suffered in the terrible tragedy in New York City yesterday, stocks move up and down on news that affects earnings and interest rates. Thus, as horrific as the events were yesterday afternoon, there is no linkage to financial markets. Instead this morning, markets are taking their […]

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October 30, 2017

Stocks closed higher on the heels of better than expected earnings from Amazon, Alphabet#, Microsoft# and Intel#, four leading tech names. Those earnings, and the ensuing surge in their stock prices sparked a huge rotation of equity money out of groups that are experiencing economic pressure and into the tech sector. As bull markets age, […]

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October 27, 2017

Stocks rebounded yesterday amid some more favorable earnings reports. Economic news continued good. Unemployment gains, which had spiked right after Harvey and Irma, have fallen back toward historic lows. The ECB said it would cut the rate of bond purchases but might continue the program for longer, a sign that easy money and low inflation […]

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