The Recovery Begins – The Steep Part Of The “V”
The big market mover this week was Retail Sales, up 17.7% in May. Consensus estimates averaged 8%. A pop was expected; the magnitude wasn’t. Remember, the economy has never seen this kind of shutdown, or experienced such fiscal or monetary policies, so there is no experience or precedent upon which forecasts can be based. In this recovery, the consensus […]
The Opposite: The Market Takes A Cue From Seinfeld
The Opposite In one of the 1990s Seinfeld episodes known as “The Opposite,” George Costanza decides to make decisions opposite of what his “normal” instincts would tell him to do. The results of his “opposite” actions were a beautiful girlfriend, a standing ovation, and a job with the N.Y. Yankees! Today’s equity market seems to be behaving […]
Good News! The Re-Opening
The Unemployment Picture The equity markets continued their uptrend the week ended May 30th with the S&P 500 gaining 3.0% for the week (and 4.5% for the month). Similarly, the DJIA gained 3.8% this past week and 4.3% for the month. Markets moved higher on vaccine speculation, and on less negative sequential data as all 50 states were […]