An Olympic Disaster Awaits
After a yearlong delay due to Covid-19, the 2020 Tokyo Olympics are finally underway despite withdrawals from many high profile athletes. The Games, the first ever without spectators, promises to be among the strangest and most fraught in history. The opening...
China botches another IPO
Just days after DiDi Global pulled off one of the biggest U.S. initial public offerings this decade, a Chinese cybersecurity regulator ordered its removal from China's smartphone app stores, alleging the ride-hailing company illegally collected and used customers'...
The Consumer is Back – Let the Spending Begin
U.S. consumer borrowing surged by $35.3 billion in May as Americans, bolstered by a reopening economy and rising job levels, went back to using credit in a big way. Borrowing on credit cards and for auto and student loans showed solid gains in May. It marked the...
All is well – Take that beach holiday
The stock market applauded the Jobs report on Friday that showed strong payrolls - but with enough concerns to keep the Fed on hold. The Nasdaq led, posting a weekly gain of 1.9%, followed by the S&P up 1.6% and the Dow trailing, but still up 1%. With the markets...
The pandemic is over – Buy stocks
The S&P 500 closed the week at another record high, posting its best weekly performance since February, as investors came to realize that higher inflation is a given as the economy continues to push out of the pandemic. Fifteen months after the US first plunged...
Inflation fears strike the market again
Stocks fell every day this week from Tuesday through Friday and the S&P 500 finished its worst week since February, after St. Louis Federal Reserve President James Bullard said interest rates may need to rise next year to tamp down possible inflation. His comments...
Bitcoin finds its way into 401K plans
Earlier this week, one of the 401K providers - ForUSAll Inc., announced that it has struck an agreement with Coinbase Global, a cryptocurrency exchange, to allow workers in its 401K plan to invest their contributions in bitcoin. This announcement comes on the heels of...
Is the U.S. dollar at risk of losing reserve currency status?
While meme stocks dominated news coverage this week with their wild price swings, the stock market got the jobs report it was waiting for, as May's payrolls growth came in short of expectations and led investors to conclude that the Fed would not trim its bond buying...
Dow Jones Industrial Average celebrates 125 years and we say “Thank You”
As optimism over the post-pandemic U.S. economic recovery drove the investment narrative heading into the Memorial Day weekend, it may behoove us to remember that May 26th marked the 125th year anniversary of the Dow Jones Industrial Average (DJIA). For the first time...