Today, my son Chip decided to show up at work dressed as me to celebrate the holiday. His point that I wear black on a regular basis is well taken. LOL, I’ve never seen him in glasses or with a sweater.read more #Halloween Chip off the old block!
#FuturesFall U.S. stocks are poised to follow Asian and European bourses lower at the opening. The S&P 500 is down 6.0% (175 points), since hitting its record high a month ago on September 20. Futures are forecasting the Dow and S&P to be down ~1.5% at the market opening this morning. Skittish investors cite theread more Futures Fall
Housing Starts: 871 new single-family homes went under construction in September, and markets acted unfavorably to the news. The WSJ, Bloomberg, CNBC, reporting the figures as “Another weak month,” “Continuing soft stretch,” “Housing starts fall more than expected.” Is homebuilding nearing its end or is this setback just a bump in the road? Single-family homeread more What does a downturn in housing starts mean for investors?
Why are stocks rallying today? Perhaps, it is that 80% of reporting companies, thus far, have exceeded street consensus forecasts (beats). The market has been at a pivotable state, teetering against opposing forces. There some that espouse the expansion is nearing its twilight and stocks will discount future gains in anticipation of economic slowdown andread more What’s the market trying to tell investors?
On September 20th, the S&P closed at 2,930.75, setting an all-time high. The Nasdaq Composite and Dow Jones Industrial Average were flirting near record levels. Twenty days later, the S&P, DJIA, and Nasdaq are down 6.9%, 6.6%, and 9.6% respectively. What changed in a matter of three weeks? Is it the usual cast of characters:read more How Fed Policy is Impacting Financial Markets