Economic Growth and Measurement

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When it comes to economic growth, the government doesn’t measure twice. It measures three times. Last week, the Bureau of Economic Analysis revised its initial estimate that the gross domestic product (GDP), which is the value of all goods and … Read More

The Herd of Unicorns is Growing

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Since 1996, the value of companies listed on American stock exchanges has increased from 105 percent of gross domestic product (GDP) to 136 percent of GDP, according to The Economist. (GDP is the value of all goods and services produced … Read More

Stocks Have You Scratching Your Head?

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Is it complacency? Exuberance? Uncertainty? Exhaustion? Insight? Intuition? Last week, all three major U.S. stock markets gained value and two reached new record highs. On the face of it, that’s great news for stock investors. However, if you look below … Read More

A Good Week to Own Stocks

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Not all financial news was good news last week, but that didn’t prevent U.S. stock markets from moving higher. Barron’s reported on the good news: “This past week, welcome political news from Europe, a batch of stellar corporate-earnings reports, and … Read More

Mixed Signals and the Stock Market

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U.S. stock markets are sending mixed signals. If you look at the performance of the CBOE Volatility Index (a.k.a. the VIX or fear gauge), which is a measure of market expectations for volatility in the near future, it appears all … Read More

Happy Birthday to the Bull

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Toward the end of the first quarter, the bull market celebrated its eighth birthday. David Kelly, Chief Global Strategist at J.P. Morgan Asset Management wrote: “Eight years ago, on March 9, 2009, the S&P 500 closed at 677, down 57 … Read More

Rate Hike Ahead… Maybe

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Last week’s U.S. employment report was better than expected. The United States added 235,000 jobs in February, which was a few more than economists had forecast. It may seem counterintuitive, but the positive economic data helped push U.S. stock markets … Read More

Pro-Growth Policies Propelled Stocks to Record Highs

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A grand slam! Major U.S. stock markets were positively euphoric following President Trump’s speech on February 28. Optimism about the new administration’s pro-growth policies propelled the four major U.S. stock indices to record highs, despite a dearth of policy details, … Read More

The Stories Markets Tell

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Once upon a time, five blind men discovered an elephant. Each man examined a different part of the elephant and formed a unique impression about the animal. One believed an elephant was like a pillar, while another decided an elephant … Read More

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