Stock Market

Don’t Panic

As of the close of business yesterday, the Dow Jones Industrial Average was down 1,136 points, or 6.8%, since the end of 2013. The venerable average was down 5.3% in January, which lead many seers to warn that the market would therefore be down for the full year. I’m here to disagree with that sentiment. I believe that this is simply a long overdue correction in a bull market that began in...

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2014 Fearless Forecasts – Looking Back and Gazing Ahead

Each year in my January newsletter (“News and Views”) I make a number of predictions about the stock market, the domestic economy and maybe a few key trends. At the same time, review the accuracy, or lack thereof, of my Fearless Forecasts from the prior year. So let’s first see how my prognostications from last year panned out before I make this year’s prognostications....

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When Good News Is Really Good News

The Department of Labor today announced that the unemployment rate in October dropped to 7.0% as 203,000 new jobs were added in the month. Almost 300,000 fewer people were counted as unemployed while the labor force participation rate increased, both of which are good things. In addition, the average work week increased a bit, as did average wages. To sum it all up, this was probably the best...

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Market opens sharply lower, down 80 with

Market opens sharply lower, down 80 with broad weakness. Bond yields rise and dollar up. KORS and REGN had blowout qtr results. TWTR coming.

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The Market Still Doesn’t Care That The Government Is Closed

We are now in the third week of the government shutdown and we’re careening towards the first “deadline” of October 17 with no deal in sight. By that day the Treasury will reportedly have about $30 billion with which to pay its bills. That will leave less than two weeks to scrimp and scrounge before the next big deadline of November 1, at which time the government will no longer...

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Will the Republicans Actually Close the Government?

At midnight on Monday we will find out if the hard-liners within the Republican party (read: the Tea Party) will follow through on their threat to close the government as they refuse to negotiate in good faith on a deal to expand the debt ceiling. Whether one agrees with ObamaCare or not, I think it’s reprehensible that the right-wing members of the Republican party¬†led by Congressman Ted...

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