On Friday afternoon, I had the pleasure of returning to Reuters TV to have a quick conversation with anchor Fred Katayama (@Freddiethekat). We discuss the surprising drop in consumer sentiment and why investors appear to be looking through the current Delta COVID wave. Corporate earnings remain extremely strong and with vaccination rates high in the US, this COVID wave should be shorter lived.
Over the weekend, news headlines focused on rising COVID case counts and fear over the impact of the Delta variant. While we may be headed for a 3rd wave here in the US, don't fear the Delta variant, especially if you are vaccinated.
Last year as the pandemic broke out in China, we looked to the east for signs of what life may be like dealing with lockdowns and a slow return from lockdowns.
For much of 2020, we were locked in our homes and have been waiting for life to return to normal. Thanks to government transfer payments, even those who lost their jobs saved money. According to the New York Times, in 2020, personal income increased by over $1 trillion and spending decreased by over $530 million. This means that American consumers are sitting on a $1.5 trillion war chest that is ready to be unleashed in
It was a year ago when COVID fears rocked the financial markets and pushed economies into lockdown. While all of us had hoped that it would end in short order, we still find ourselves socially distanced and are just passing the peak of the 2nd wave. The good news is that cases are falling quickly and vaccinations are on the rise. With the Great Re-Opening coming, we will be ready to emerge from our homes
The GameStop news is out. If you didn't know GME before, now you do. The stock price has gone parabolic with a short squeeze and no fundamentals. Well, that's the story widely being circulated, but there's more to it in our opinion.
This is one of my favorite posts to write every year as we get to look back on Wall Street predictions and see how they panned out. We have done this in 2014, 2015, 2016, 2017, 2018, 2019, and 2020 so it is a tradition to see which strategists did well and which missed the mark. Last year, the strategists predicted a slight up year market for 2020 with an average target of +1.6%, 3283, for
On Tuesday, President elect Joe Biden announced that former Fed Chair Janet Yellen is his pick to be Treasury Secretary. Given her successful tenure as Fed Chair from 2014 to 2018, the pick looks like a winner from the start. Let's take a look at why she is a great choice in the current environment.
On November 9, 2020, Andy and Chris spoke on a zoom call with the friends of Tuckahoe Public Library to discuss “Financial Literacy: The Pandemic's Impact on the Economy and Financial Markets.” In the talk, we cover a lot of ground including:
Earlier this week, we said that the market may be predicting another Trump upset, but another indicator is predicting our incumbent president's loss. The “Presidential Predictor,” popularized by Sam Stovall, CFRA's chief investment strategist, tracks the S&P 500 performance from July 31 to October 31. Going back to 1944, it has found that a positive move over that period usually translates to an incumbent victory, while a negative move translates to a loss.