Are we near an inflection point in markets? I have heard numerous talking heads on CNBC recently saying that markets are near a turning point. The mantra goes something like this: the dollar is near a bottom, therefore commodities are topping out and stocks will move higher. While all this may come true, I think [...]
The FOMC cut interest rates by another 1/4 point today. Here is the statement released after the meeting with my interpretation of its real meaning:
The Federal Open Market Committee decided today to lower its target for the federal funds rate 25 basis points to 2 percent.
We really didn’t have any good reason but the market [...]
1st Quarter GDP grew 0.6%. Not a great number under any circumstances but still not a negative number. I have been consistent in my belief that the US economy will avoid recession - for now. The problems in the economy are primarily financial problems. These problems are obviously having an effect on the economy but [...]
US employment in the private sector rose by 10,000 in April, according to the ADP employment report released Wednesday. The number was way above estimations, as analysts were expecting an 80,000 decline in both private and public sector payrolls. Subtracting the usual 20,000 in new government jobs, private sector employment was expected to be closer [...]
