December 20, 2017

Stocks gave back a little ground yesterday after the House voted to approve the tax bill. Later, for technical reasons, that vote was voided. The Senate passed the proper bill last night, and the House should revote today, making it highly likely that the bill will get to President Trump’s desk before the weekend. Last […]

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December 18, 2017

Stocks continued to rally on Friday, and it appears the rally will carry through this morning.  Republicans released the final version of their tax reform proposal late on Friday, and to date, no Senators and only a handful of Representatives have come out against the bill.  Even with Senator McCain returning to Arizona for health […]

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December 2017 Economic Update

Jim Meyer’s Outlook for 2018 Chief Investment Officer at Tower Bridge Advisors, Jim Meyer sets up his 2018 economic outlook with an overview of 2017. Looking ahead, he talks about the factors affecting stock prices and fiscal policy. Jim covers the big question of tax reform and its impact on GDP growth. The presentation closes […]

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December 15, 2017

Stocks rose once again yesterday as the year end rally continued. Bonds and the dollar remained within a tight range. This morning, let me start by going back to bitcoin for a brief moment. The bulls on the cryptocurrency make several points. Let me briefly comment on them. Bulls argue that bitcoin is a more […]

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December 13, 2017

While the leading averages rose once again yesterday, the NASDAQ had a disappointing session amid profit taking. Although the Dow Jones Industrials and the S&P 500 have been setting new records almost daily, the NASDAQ has yet to set a new high on any date in December. If you are a tech investor, there is […]

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December 11, 2017

Stocks continued to rally on Friday and the momentum appears to be carrying through in early morning trading overseas. Friday’s employment report extended the string of good economic news with solid growth and few signs of accelerating inflation. Over the weekend, the big news story was the commencement of trading for futures in bitcoin. The […]

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December 08, 2017

Stocks rallied yesterday as the volatility of recent sessions faded. Bonds rose and yields fell. This week, in looking ahead to 2018, I noted that the key variable was interest rates. Over the past couple of weeks, as volatility increased and the pace of rotation escalated, some investors began to fear the dreaded 10% correction, […]

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December 6, 2017

Normally, December is a good month for stocks, especially at the end of a strong year. But you wouldn’t know it from the market’s behavior the last few days. Volatility has picked up amid wild intraday swings and stocks have generally closed at their daily lows, not a good sign. In particular, the year’s winners, […]

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December 4, 2017

Stocks fell on Friday amid some uncertainty over the Senate tax bill (that obviously got settled in the wee hours of Saturday morning) and a mid-morning revelation that Mike Flynn had pleaded guilty to lying about his contacts with the Russians and had agreed to cooperate with the Special Prosecutor’s office. Stocks regained a large […]

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December 1, 2017

Stocks moved sharply higher both yesterday and the day before as tax legislation appeared to be marching toward a successful conclusion in the Senate. While the Dow soared, not all stocks followed. Tech shares took a beating on Wednesday as money rotated toward 2017’s losers and companies with high domestic tax rates that do most […]

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