Issue: 9/28/07 Friday
A very important day in the market. Gold has declared that the US Dollar is fairly worthless. Gold reached $750 today, and this should be very disturbing to the central bankers of the world. All the other markets sort of moved sideways.
Consumers shrugged off a rash of bad news [...]
Issue: 9/27/07 Thursday
Another ho-hum day in the stock market, but the bond market has started its recovery, and oil spurted up $2.58 today. The Euro hit a new high, and fell back again.
The bond market made its way back to the plus side after a long, dull slog through territory that included bond positive [...]
Today was an UP day in the stock market; up 100 points. The DJ30 is approaching 14,000 as the bulls are beating the heck out of the bears. Oil turned around and came back up above $80/barrel, so that ends the slide in oil prices. The rest of the market took a [...]
Issue: 9/24/07 Monday
Today was another boring day in most markets. Oil was the big mover dropping another $1.42, falling below $80 per barrel with gasoline following it down. Thank goodness. Currencies are slowly and quietly continuing their climb against the dollar.
The latest economic reports offered fresh evidence that consumer sentiment is taking a hit amid [...]
Issue: 9/24/07 Monday
I took the day off last Friday because the markets – all the markets – were boring. Nothing much happened last Friday, and nothing much happened today either. The only little move today in the markets was that oil came down a little because the storms in the Gulf of Mexico [...]
Issue: 9/20/07 Thursday
By Global Economy Guru, Tom Harvey…
Is the United States a Banana Republic? – does banana republic deserve to be capitalized for the USA? I sure hope that got your attention because today that elephant in the room that no one is talking about just stood on someone’s toes. Here is the [...]
Issue: 9/19/07 Wednesday
By Global Economy Guru, Tom Harvey…
It’s time to re-camp and look exactly at what happened yesterday with the Fed’s cut of 0.5% in the Fed Funds rate. The Fed surprised the majority of people in the market. That means there will be some winners and some losers. The losers will [...]
Issue: 9/18/07 Tuesday
By Global Economy Guru, Tom Harvey…
The Federal Open Market Committee decided today to lower its target for the federal funds rate 50 basis points to 4-3/4 percent.
Economic growth was moderate during the first half of the year, but the tightening of credit conditions has the potential to intensify the housing correction and to [...]
Issue: 9/17/07 Monday
By Global Economy Guru, Tom Harvey…
The US market held its breath today awaiting the Fed’s decision tomorrow, and this week’s upcoming PPI and CPI announcements.
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So, I will be taking this opportunity to talk about other worldly things going on. I want to introduce you to the concept of a “Wild Card”. [...]
Issue: 9/14/07 Friday
The market rested today. The only movement was in Oil that went higher, but ended down about $1. Basically, the market while being very volatile is waiting for the upcoming Fed meeting. Also, the market didn’t foresee anything negative happening over the weekend; so it just lolly gagged along.
Retail sales posted a modest [...]