Since hitting a low price of about $1,823 in October, gold futures have rallied to over $2,100 as of yesterday. Over the last three days, gold futures are up over $90, and at last check as of about 9:35 am ET, they are up over $10 today. So what gives? Have a look at this [...]
There's been some interesting comparisons to the current stock market with 2008, 1987 and 1929 in recent days, so I thought I'd look at the charts myself and see what's going on. First, I should mention a post I put up a couple weeks ago before my vacation to Sicily where I took a look [...]
The other day I posted my thoughts on inflation, and whether we should expect a resurgence. To follow up on that I thought I would take a look at the ole Dollar/Gold chart and see if it was providing any signals. In general, when expectations are for higher inflation, Gold will outperform the Dollar. When [...]
On Friday, esteemed economist Paul Krugman posted this tweet... This was after the government reported that both CPI and PPI came in hotter in August than expected, due to a rise in energy prices. As expected, Krugman was excoriated for the fact that people need all three of those items he wants to exclude from [...]
I've been an observer of the financial markets for over three decades now. More than once I've gotten caught up in the hype of news suggesting that a certain market should go in a particular direction. That hype was usually wrong. The first time this happened was the 1994 stock market, which is interesting, because [...]
It's been a few months since I last commented on the state of the financial markets. At the time, the market was acting like it was shrugging off the 2022 interest rate hikes and was poised to move higher. Since then, the stock market has been generally flat. However, the price action over the last [...]
It's no secret I've been bearish on the economy and US stock market for over a year. Given what transpired during the Covid-19 pandemic, ie, the massive monetary and fiscal stimulus poured into the economy by a panicked government, I felt we'd have to pay the piper at some point. In some ways, we certainly [...]
On Thursday, the latest CPI report indicated year over year inflation had dropped from 8.2% in September to 7.7% in October. The markets rejoiced. The thinking is that the Fed will begin to pivot away from its tightening phase by raising rates by 50 basis points in December, and then likely pause. With this in [...]
Yesterday, the Dow Industrials rose almost 1,200 points on the back of a CPI report showing that inflation had slowed to 7.7% year over year. The market is anticipating that the Federal Reserve will only hike rates by 50 basis points in December, and then that may be it for the rate hikes. Here's the [...]
By many measures, the U.S. stock market was due for a rally last week, and it got one. Over the last three trading days, the market rallied anywhere from about 2.5% to 4% among the major market averages. Prior to the start of the rally, the market had declined for three consecutive weeks after the [...]