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On Thursday, July 25, the US stock market was sitting at a level that was not far below its recent highs, which were at record levels. Tax and regulatory reforms have bolstered corporate earnings leading to new peaks in the leading indices in the equities market. While investors have been si...
Originally published July 22, 2019 New York Fed president John Williams gave a prepared speech on Thursday, July 18, 2019. In the speech, he argued the Fed should do two things with its monetary policy learned from model simulations when it takes action to head off an economic downturn w...
The above graph is featured every week (and updated weekly) on the front page of "This Week in Earnings," IBES by Refinitiv's definitive weekly earnings report. Now compare that July 19, 2019, graph to this one from, April 18, 2019: The slope of the acceleration caught my eye, but the ...
Late last month S&P Dow Jones Indices reported preliminary dividend and buyback results for the S&P 500 Index for first quarter of 2019. On a quarter-over-quarter basis, dividends declined by $2.48 billion. This sequential decline in the first quarter versus the fourth quarter is not...
The technical picture of the US stock market isn't all that healthy right now. In fact, the only other time we have seen divergences in breadth this large was during the blow-off years of the tech bubble. Bottom line: Breadth levels are warning of a possible market top. Let's first start by ...
We're a little over the halfway point between the Federal Open Market Committee's scheduled meetings , where the Federal Reserve's interest rate-setting body will announce a quarter point rate cut in the Federal Funds Rate at the conclusion of its next two-day meeting on 31 July 2019, its fir...
The Federal Open Market Committee (FOMC) is poised to cut the policy rate at its meeting on July 30-31, but members of the committee are divided. Markets are pricing a 25 basis point (bp) cut, and we believe that is the most likely outcome, but we also see a meaningful chance of a 50 bp cut. ...
On the latest edition of Market Week in Review, Chief Investment Strategist Erik Ristuben and Head of AIS Business Solutions Sophie Antal Gilbert discussed newly-released economic data, recent remarks by Federal Reserve (Fed) Bank of New York President John Williams and the ongoing rally ...
June consumption was strong, while production was weak Tuesday morning's retail sales and industrial production releases for June are consistent with my take that the consumer sector of the economy is doing OK, while the production sector remains in trouble. Let's start with retail sales...