State of the Markets
Now Playing: The Slow Grind
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The State of the Market
For the past two weeks or so, the stock market (as defined by the S&P 500) has been grinding higher on a daily basis. Even when there is disappointing data on the economy, stocks find a way to advance by the time the closing bell rings …
Are P/E's A Problem?
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The State of the Market
There is nothing terribly new to report in terms of the current stock market drivers. Traders appear to remain focused on the state of the COVID pandemic and the economic recovery, as well as the potential for additional stimulus out of Was…
The Good News Is...
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The State of the Market
First the good news. Using history as a guide, it looks like the major indices should finish what has been a crazy calendar year in fine fashion. According to data from Fundstrat, when the S&P 500 is up between 10% and 15% between Janua…
The Reasons For The Rally
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The State of the Market
To review, the overriding purpose of my oftentimes meandering morning market missive is to identify the primary drivers of the market action. As I've stated a time or two, my thinking is that if I can understand why Ms. Market is doing what…
Time To Take A Break?
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The State of the Market
Stocks have danced merrily higher throughout November as traders have celebrated the idea that highly effective vaccines look to be just a few months away. Cutting to the chase, this means that investors have ignored the bad news about the …
A November to Remember
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The State of the Market
A November to remember is showing no signs of letting up in the early going Tuesday. Already the best month in history save October 1987, the month's impressive returns look to expand further today. For those of you keeping score at home, t…