Global Market Commentary, Analysis and Investments
After a strong run-up Thursday followed by a weaker one Friday, major US stock indexes are in retreat.
The Dow, the S&P, the Nasdaq and the Russell 2000 have all surrendered more than 1%, a move attributed, in part, to a realization that the eurozone rescue plan bears a striking resemblance to Gertrude Stein’s description of Oakland: “There is no there there.”
[Read more...]Markets worldwide are rallying on confirmation of the news traders have been waiting for all week:
Renowned monetary policy authority Lindsay Lohan will, indeed, pose for Playboy.
C’mon.
You have to admit it makes about as much sense as the reason they say they are rallying: a “fix” for the euro crisis.
[Read more...]Why did the Dow Jones Industrial Average soar 162 points yesterday? And why is it rocketing another 300 points this morning?
Was it because Consumer Confidence for October plummeted from 46.0 to 39.8…or was it because the number of Americans who signed contracts to buy homes fell for the third straight month?
[Read more...]The Dow Jones Industrial Average bounced another 214 points yesterday to 11,483. From the lows of last Wednesday, the Dow has surged nearly 800 points and has erased all of last week’s losses.
Just like that, the correction is over!
If you happen to have awakened yesterday from a ten-day coma, you probably assume that nothing much happened while you were unconscious. The Dow is almost exactly where it was on August 5th. But something did happen. Stocks gyrated wildly, bond yields plummeted, precious metals soared and investors around the globe scratched their heads about what to do next.
[Read more...]“Stocks rose to another high for the year [yesterday],” according to the Associated Press, “after Federal Reserve Chairman Ben Bernanke said central bank officials expect the economy to continue recovering.” It’s true stocks soared yesterday, but we’re not so sure the “recovering economy” was the primary cause.
[Read more...]Welcome to today’s very special “Birthday Party Edition” of The Daily Reckoning! Our little bull market is two years old today… They grow up so fast! To begin the festivities, please put on your party hats and click on the following link:
[Read more...]First, the good news: Stocks staged a mammoth rally yesterday. The Dow managed a 2.5% run, while the broader S&P 500 scooted ahead 3%.
What a wondrous achievement this must have seemed like…to anyone who spent the previous month on the golf course, far away from their computer screen.
[Read more...]America has an economy that produces about $13 trillion of activity each year. America also has a Federal Reserve Chairman that produces about 13 trillion raised eyebrows each year.
Last week, in Jackson Hole, Wyoming, Bernanke raised a few more eyebrows by asserting that the Federal Reserve remains in control – more or less – of economic conditions here in the United States.
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The huge rally on Wednesday of last week fizzled by the end of the week.
What a week. Full of sound and fury…signifying nothing.
Wednesday’s rally was the “seventh best day for the DJIA in 110 years,” reports our Bonner Family Office analyst, Chris Hunter. “And sure, this sounds pretty impressive. But it’s useful to bear in mind that the best day in history for the DJIA was on October 13, 2008 (when the index shot up 936 points). In the next few days the DJIA was down 11%. Then it shot up again by 15%. Then it nosedived by 25%. The next best day after that for the index was October 28, 2008. And the sixth best day came six days after the top of the Nasdaq bubble, on March 16, 2000.”
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