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October 20, 2017

Stocks finished mixed yesterday after spending most of the day in the red.  A sign of a strong market is one that finishes the day on an up note.  It did just that yesterday.  This morning will be a big one for earnings with General Electric# leading the way.  More on that in a moment. […]

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October 18, 2017

The Dow Jones Industrial Average surpassed 23000 yesterday for the first time, on the back of strong earnings from Johnson & Johnson# and United Healthcare.  That has been the history of the market in recent weeks.  One or two stocks seem to do the heavy lifting each session.  The leader one day is almost always […]

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October 16, 2017

First of all, I would like to thank my colleagues who filled in for me while I was away. I hope you got a chance to read a few different viewpoints on the market. Last week, the averages continued to move further into new record territory, although there was certainly no surge in enthusiasm. The […]

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October 13, 2017

While Jim is away on vacation, other members of the TBA Investment Committee will write the market comment.  Today’s comment is from Ray Reed. The International Monetary Fund (IMF) updated its forecast for global growth earlier this week and confirmed what most stock markets have been discounting, driving many indexes to new highs for 2017, […]

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October 11, 2017

While Jim is away on vacation, other members of the TBA Investment Committee will write the market comment. Today’s comment is from Bob Whalen. The benchmark U.S. Treasury 10 year Note has traded between 2.10% and 2.40% for the last 7 months. This is despite the fact that the Federal Reserve has increased its short-term […]

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October 9, 2017

While Jim is away on vacation, other members of the TBA Investment Committee will write the market comment. Today’s comment is from John Lisle. On Friday, the stock market took a very mild breather with the Dow Jones off by -1.7 after the monthly employment report was released in the morning. Non-farm payroll employment dropped […]

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October 6, 2017

While Jim is away on vacation, other members of the TBA Investment Committee will write the market comment.  Today’s comment is from Jim Vogt. As we enter the final quarter of 2017 and approach earnings season, I thought it would make sense to take a brief review of what has worked, what has not worked […]

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October 4, 2017

While Jim is away on vacation, other members of the TBA Investment Committee will write the market comment. Today’s comment is from Maris Ogg. “…full of sound and fury, signifying nothing” Macbeth Act 5 Scene 5 Lately when I read the news, I am reminded of this line from Macbeth. There is a lot of […]

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October 2, 2017

Stocks rose on Friday. Both the S&P 500 and the NASDAQ Composite set new all-time highs, while the Dow was shy by just about 7 points. Stock prices should represent the present value of future expected cash flows to investors.  Even when one is buying a stock that doesn’t pay a dividend, the presumption is […]

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September 29, 2017

Stocks rose to new record highs as investors reacted positively to the Republican tax reform proposals.  Interest rates also rose but gave up most of their gains in the afternoon. After the November election stocks took off, anticipating stronger economic growth in a Trump Presidency.  It was presumed that some portion of his agenda would […]

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