Anyone planning to have ribs and pulled pork on July 4th may get a price break. Happy 4th of July!
BBQ Party!
Earnings
Expecting the S&P 500 Index to build on Monday’s 0.8% advance through the rest of this quarter may be wishful thinking, based on history. The index had its worst performance in the third quarter between 1980 and 2018. Gains in the third quarter averaged 0.3%, far below the comparable figures of 2.6% for the first … Continue reading Earnings
Taking the Long View
I think stocks are ridiculously cheap if you believe. . . that 3% on the 30 year {US Government} bonds make sense.Warren Buffett statement to Becky Quick on CNBC The US economy is coming out of a slowdown caused primarily by the Federal Reserve Board (Fed) policy of increasing short-term interest rates. The Fed reversed … Continue reading Taking the Long View
Sentiment
Americans are feeling upbeat!
Gold is Climbing
Gold’s climb to a six-year high may reflect its status as “a positive yielding asset” relative to much of the world’s debt, The connection between the precious metal’s price in New York futures trading and the dollar amount of bonds with below-zero yields. Gold rose above $1,400 an ounce last week as the Bloomberg Barclays … Continue reading Gold is Climbing
S&P Record
Is there's room for the record-setting rally in U.S. stocks to get even broader?
All That Glitters
Gold’s rise to its highest price in more than five years showed central-bank policy changes. Gold for immediate delivery traded Thursday for as much as $1,394 an ounce, surpassing the high end of its trading range since October 2013, according to data compiled by Bloomberg. The precious metal rose after the Federal Reserve and the … Continue reading All That Glitters
Home Sales
Existing home sales came in at 5.34M, seasonally adjusted annualize, topping the consensus estimate of 5.28M. This was a good report. The term good is relative. Sales are still down year-over-year as well as year to date.
No Slow Down at Adobe
Adobe reported 2nd Quarter earnings of $1.83 per share on revenue of $2.7 billion. The consensus earnings estimate was $1.78 per share on revenue of $2.7 billion. Revenue was up 25% year over year. The company said it expects third quarter non-GAAP earnings of approximately $1.95 per share on revenue of approximately $2.80 billion. The … Continue reading No Slow Down at Adobe
Online Retail Surpasses Brick & Mortar
An unprecedented shift in U.S. consumers’ buying habits was reaffirmed in May. Online merchants accounted for about 12% of last month’s retail sales, according to figures compiled by the Commerce Department. They exceeded the 11.8% share for department stores and other general-merchandise chains. Stores reached by mouse clicks generated more sales than the brick-and-mortar retailers … Continue reading Online Retail Surpasses Brick & Mortar