Friends Traders appeared tentative before the “State of the Union” address tonight, as stocks drifted slightly in negative territory, with very little conviction. Interestingly, the economic data was decidedly positive as the Chicago PMI, the Richmond Fed Manufacturing Index and the Consumer Confidence number all came in better than...
Friends We are back to a full week of trading with February ending tomorrow and The President’s “State of the Union” speech on Tuesday evening. That should be must see TV. On the economic front we get our second look at 4th quarter 2016 GDP tomorrow, along with Chicago...
Friends Stocks lingered in negative territory for just about the entire trading session, but the bulls came with a final push to move the market averages slightly into positive territory and register another record close. After the run that we have had to the upside, a pause to refresh...
Friends It was a very quiet day here in investment land. Volatility was virtually non-existent, while participation was muted. Some doubt about the realization of tax reform is beginning to creep into the equation. The Treasury Secretary is shooting for August and the President says we’ll get to it...
Friends Today’s FOMC minutes seemed to indicate that the Fed members may not have been quite as confident in the economy as had been disseminated by the Fed Chair and subsequent reports. From reading the minutes the FOMC does, indeed, want to raise rates this year, but they may...
Friends Stocks went up today. I know it’s a shock, but they really did. Of course, I am having a little fun, but this rally seems it’s not easily going to be thwarted. Yes, market participants are expecting/hoping that deregulation and tax reform will help spur economic growth, but...
Friends Despite a raucous Presidential press conference, stocks had an extremely quiet day. Even an amazingly strong report out of the Philly Fed couldn’t spur any buying interest, as market participants simply might be out of gas after a week of rising stock prices. Even though the bulls seemed...
Friends Stocks continue to push higher today despite or because of a hotter than expected CPI number and a better than expected retail sales number. It was curious why retail sales had been soft given the increase in consumer confidence lately, but perhaps today’s number is a sign of...
Friends Despite some tumult coming from the White House today, stocks continued to ascend to higher levels, as any selling over the past several trading sessions has been met with buyers. Janet Yellen’s testimony before the Senate Banking Committee seemed to give traders a short pause, but despite bonds...
Friends Stocks continued their recent surge as the bulls appear to hold all the cards at the moment. Earnings season has been good enough, the economy is just strong enough (but not too strong as to cause the Fed to become overly hawkish), and tis the season when stocks...
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