Vladimir Lenin, founder of the Russian Communist party, said, “There are decades where nothing happens; and there are weeks when decades happen”[i]. There were a lot of weeks in 2016 where decades happened. The year contained a number of historic events that changed the direction of societies, political systems and economic structures. While a lot […]
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Entries by spowell
April 3, 2017 – DJIA = 20,663 – S&P 500 = 2,362 – Nasdaq = 5,911 March Madness – April Absurdity The term “March Madness” is typically associated with the men’s college basketball tournament that happens this time of the year. The exciting games and inevitable upsets attract widespread interest and viewership. Of course, […]
The stock market has been on a historic run since the election. A steady series of record highs in spite of a landscape of protests, name calling, and divisiveness. Given the elevated level of widespread acrimony, one would logically expect stocks to be broadly lower instead of at all-time highs. Nevertheless, there hasn’t been a […]
The Trump presidency and the stock market are two perplexing affairs. Given their developments during the past few months, they would be fascinating on their own. Stocks reversed direction the day after the election and have rallied strongly as the Dow surpassed 20,000 and then 21,000. On the other side, the new administration has had […]
At this time last year the stock market had been falling since New Year’s Day. It was the worst start to any year for stocks. In the prior months, crude oil had collapsed from $100 per barrel in early 2015 to under $30. Further there were broad worries that China would devalue their currency which […]
January’s employment report estimated that 227,000 new jobs were added to the economy during the month. This was the largest monthly gain since September. Despite this good news, however, the unemployment rate ticked up to 4.8% from 4.7%. This was the result of more Americans, who previously were not looking for work, joining the workforce. […]
The Dow Jones Industrial Average, after many failed attempts, finally rallied above the 20,000 mark. While it seemed like a lengthy, arduous battle, the reality is that it only took 64 days from the time that the Dow first crossed 19,000 to the time it got to 20,000. In fact, this is the second shortest […]
Donald Trump was sworn in as the 45th President of the United States on Friday. The inauguration was as anticipated including all of the tradition and pomp. The oath of office, the speeches, parades, balls and celebration, all were done as expected. Looking forward, it may be a while before we get this degree of […]
Actually, can you spare 4 dimes? Last Friday the Dow Jones Industrial Average came within less than one half of one point ($0.37 to be exact) of 20,000. Throughout the afternoon there were several attempts to get to that level but the bears defeated each try. Perhaps they should have passed the hat among the […]
In this season of traditions, resolutions and predictions for the New Year are especially popular ones. But for anyone making (or reading) 2017 forecasts, we have a question – don’t you remember 2016? Brexit? Trump? The Cubs? It was the year that made virtually every professional prognosticator look pathetic. Having lived through 2016, how can […]
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