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The Recovery Will Be Weaker And It Will Take Longer

While markets were slightly higher on the week (see table), there was a clear rotation back toward technology after several weeks of a lull for that sector.  This is clearly shown by the week’s Nasdaq outperformance.   January 22 January 15 % Change DJIA 30,997 30,814 +0.6% Nasdaq 13,543 12,999 +4.2% S&P 500 3,841 3,768 +1.5% Markets continue to ignore economic reality and continue to be focused on a rosy …Read More

Coronavirus: The Black Swan

  Black Swan taking off (Cygnus atratus) South Island, New Zealand (Photo by: VWPics/Universal Images … [+]VWPICS/UNIVERSAL IMAGES GROUP VIA GETTY IMAGES   The equity market finally had a reaction to the effects of the coronavirus (Covid-19) last week, and it was significant with the S&P 500 falling 252 points (7.4%) from its record high close on Valentine’s Day. As of this writing, most of the fall (209 points) came on Monday …Read More

Stock market at record levels

Originally published on Tahoe Daily Tribune’s website http://www.tahoedailytribune.com/northshore/12854554-113/percent-market-correction-investment Recently, the S&P 500 passed through the 2000 level for the first time in history. Its highest mark so far this year is 2005.04. The index is up 4.45 percent year to date. The Dow Jones Industrial average broke the 17,000 level for the first time this year, and the tech-heavy NASDAQ is almost back to the all-time highs it hit back …Read More