Jackson Hole 2018
As I wrote in mid-July, I expected the 2,800 level on the S&P 500 to act as support for the market, and it has despite being tested on several occasions […]
Federal Reserve
pivotal FOMC Meeting
Q1 earnings last week provided a much-needed counterbalance to the recent months-long move lower in equity prices. The results posted by large-cap technology shares–Amazon, and Facebook, in particular–offered significant relief […]
Rising interest rates and energy prices provide headwinds
Last week equity markets moved decidedly in two directions. At the outset of the week, equity markets stepped smartly higher, and in the process helped to temporarily allay fears that […]
And the Wild Card is…
As I indicated in the conclusion of last week’s note, equity markets were vulnerable to further weakness – based primarily on February’s selloff and on the technical setup provided in […]
U.S. Equities Not Out of The Woods Yet (2.0)
Last week’s note, sent to subscribers on Monday morning, was apparently quite aptly titled: US Equities Are Not Out of The Woods Yet. After posting a robust rally of 399 Dow […]
New York Fed Raises Q4 GDP Expectations
As expected last week’s equity market trading was largely focused on the tax bill winding its way through reconciliation. With each barrier to passage eliminated through negotiation, equity markets gained […]
Janet Yellen will end an effective term as Fed chair. What’s next?
With Janet Yellen’s term as Federal Reserve chair coming to an end in February and given the central importance of the chair person’s role in both market perception and actual […]
Apple is affordable
Last week’s economic data did little to act as a headwind for the rally in US equities––a rally that seems to defy gravity. Small Business Optimism (NFIB) logged a monthly […]
US equities, in post Q2 earnings drift
Economic data continues to underscore the increasing likelihood of a strong second half for 2017. The ISM Non-Mfg Index for August was encouraging. The top line reading was 55.3 versus […]
Uptrend Pauses then Resumes on North Korea Moves
US equity markets remain in a confirmed uptrend despite recent and notable index divergence between the Nasdaq and Dow Industrials in recent weeks. That uptrend is finding confirmation in Q2 […]