Stocks Drop 5% from July Peak. Trip to China. Face-PLNT or Opportunity? Markets have been in valuation contraction mode since the July peak. Including the
Behind the Shiny Objects and Gloss, the View is Less Wonderful US markets have geared themselves to decelerating inflation, relatively stable economic figures and a fascination with
Most thought there would be a 2023 recession. Then stocks rebounded 30% from lows. In January I remarked on a unique event in the financial
The debt ceiling deal was the biggest non-surprise of 2023. So why did the market rally on its completion? The stock market (measured by the
This weekend we were shocked to read that more than 2,300 cans of Miller High Life were destroyed on the orders of French customs authorities.
The Sixteenth Largest US Bank Failed Last Week Together with Yet Another Crypto-Linked institution. Markets sold off last week. Two factors were at work. First,
News reports claim that Canada and the U.S. have abandoned the search for downed floating objects. Apparently, the governments are comfortable that they may never have an
An article in today’s WSJ notes that nearly 2/3 of professional economists predict recession in 2023. This has basically never happened before.
Consumer discretionary stocks have bounced 20% in two months but we’re still hearing companies are expecting mid-single-digit inflation next year, suggesting higher rates and implying risk to the economy and stock prices. We’re remaining with our investment strategy.
Equity prices bounced in October but have slumped to start November. The S&P 500 is down 20% over the past 12 months and the Nasdaq is off 34%. Jerome Powell and his not-so-merry band at the Fed signaled their continuing hostility to equity prices by raising rates last week and their intention to keep going.