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June 2, 2017

Stocks rose sharply yesterday following strong economic data. The ADP survey predicted a sharp climb in jobs, manufacturing activity improved in May, and auto sales were better than expected. Even retail sales appeared to be improving after some dismal earnings reports last month from major department stores. While the front page story of President Trump’s […]

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May 31, 2017

Today is the last trading day in May and tomorrow starts the stream of monthly economic data that will give investors a clearer picture of what has been happening this month. It promises to be more of the same, i.e. slow and steady growth with few signs of acceleration or deceleration. In simple terms, our […]

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May 26, 2017

Stocks rose for the sixth day in a row. With President Trump overseas, attention returns to economics and the news has generally been positive. One of the headline comments this week came from Professor Robert Shiller, a Nobel laureate, who famously published his book Irrational Exuberance just months before the Internet bubble burst in early […]

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May 24, 2017

Stocks rose again, basically completing the retracement of the losses from last Wednesday when political worries in Washington reached their peak. Beneath the surface, perhaps a change of attitude is also taking place. Individual investors, long absent from this bull market, are finally moving money from bonds to equities. In particular, they appear to like […]

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May 22, 2017

Stocks continued to recover on Friday.  Given the uniformity of the rally, it appeared to be a day of index buying in a world void of much economic news.  What data we could peruse over the weekend suggests that the U.S. economy is seeing some slight growth acceleration from the soft first quarter pace, but […]

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May 19, 2017

Stocks recovered a bit of Wednesday’s 2% selloff as some of the more extreme talk in Washington (i.e. even whispers of impeachment) died down. Let me start by putting Wednesday’s news and the subsequent market reaction into perspective.  First, I am not a lawyer, but I do recognize the facts.  Under the Constitution, the House […]

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May 17, 2017

Stocks managed to eke out small gains yesterday, but futures this morning point lower after reports surfaced overnight that President Trump allegedly asked then FBI Director James Comey to drop his investigation into the affairs of Michael Flynn and Russian intelligence personnel. I have no intention of adding my two cents to the political maelstrom […]

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May 15, 2017

Stocks closed slightly higher on Friday, a quiet end to a quiet week. Without much movement in the bond, currency or commodity markets, stocks have been drifting with a slight upward bias over the past few weeks.  But the movement up has been uneven.  This morning I will try and go through each of the […]

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May 12, 2017

Stocks fell yesterday but finished well off their lows.  Two headline movers were Snap, the parent company of Snapchat, and Macy’s.  You couldn’t find two more different companies.  Snap is as new wave as they come.  If you don’t know it, I will guarantee you that your kids and grandkids do.  They all use it […]

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May 10, 2017

Stocks fell slightly in a slow session yesterday amid a quiet news day.  That changed after hours.  The firing of FBI Director James Comey hit the front pages immediately, although it has no direct bearing on financial markets except for the fact that markets rarely react well to sudden surprises.  If there is any reaction […]

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