Spend Baby Spend

The bipartisan agreement will suspend the U.S. debt ceiling until the middle of 2021, eliminating the risk that the government could miss payments as early as September, a move that would have severe economic ramifications. It will also likely push the annual budget deficit for the U.S. above $1T next year, while Congress agrees on … Read moreSpend Baby Spend

Iran Saber Rattling

As Fed members go into their media “blackout” period, Earnings take center stage and will be the primary catalyst for market movement this week, with a big run of quarterly results led by tech companies and industrial names. Set to report are Amazon, Google, and Facebook as well as Boeing, Caterpillar, United Technologies, and Lockheed … Read moreIran Saber Rattling

Home Building Slow

Stocks dipped yesterday as investors sift through a slew of 2nd quarter earnings reports. Amazon’s 2019 Prime Day was its biggest sales event yet. The company said it sold more than 175 million items over the course of the event, up from 100 million items last year. Amazon-branded electronics including the Echo Dot, Fire Stick, … Read moreHome Building Slow

Retail Sales

Stocks slipped from record highs yesterday after President Trump said that we have a long way to go on trade talks with China. Four of the major US Banks JP Morgan, Goldman Sachs, Wells Fargo, and Bank of America all reported earnings results that beat analysts expectations.  On the earnings conference calls all of the companies … Read moreRetail Sales

Too The Moon

Back to school time is the second busiest shopping period of the year and is projected to be flat compared to a year-ago. Spending for back-to-school clothing, school supplies and electronics for children in grades K-12 is expected to reach $27.8 billion this year. (Deloitte survey) Shares of Helen of Troy, owners of Revlon, Vicks … Read moreToo The Moon

Earnings Season

After more dovish communications from Federal Reserve officials sent U.S. stocks to record highs last week, second-quarter corporate earnings results that start this week will pose the next test for investors. China’s gross domestic product rose 6.2% in the second quarter from a year earlier, the slowest pace in at least 27 years. The GDP … Read moreEarnings Season

Record Week

Markets have a July rate cut from the Federal Reserve as the base case following Chair Jerome Powell’s two-day testimony to Congress. Two regional Fed governors are pushing back, with Atlanta’s Raphael Bostic and Richmond’s Thomas Barkin disputing the need for stimulus right now. Each of them cited the Dallas Fed’s measure of inflation which … Read moreRecord Week