October 19, 1987, is a date that will live in stock market infamy. Known as Black Monday, it marks the largest one-day loss in history, with the Dow down exactly 508 points (22.61 percent).
One of the key points in my argument that things are actually pretty good—and likely to get better—has been that with a growing economy, companies are selling more and making more money. Rising profits, especially on a per-share basis, are the foundation for a rising market.
Brad McMillan, Commonwealth’s CIO, reports on a great month for the financial markets. In September, all three U.S. indices and developed markets around the world were up. These results are surprising given recent events. The U.S. was hit by some of the worst storms in history. Plus, the North Korea crisis persists, with credible talk of a nuclear war. Still, the markets continue to respond to the fundamentals, like strong consumer confidence and business investment. Will the bad news catch up with us? Stay tuned to find out. Follow Brad at blog.commonwealth.com/independent-market-observer.
As we close out the third quarter of the year, here’s what we know. It has been a great year and a great quarter for stocks around the world. We’ve seen a really good month for all areas except emerging markets, which pulled back a bit but still posted the strongest quarterly gains overall.
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Brad McMillan, Commonwealth’s CIO, recaps a solid month for the economy and financial markets. International markets were mixed in August, but U.S. markets were up across the board, despite rising tensions with North Korea and the effects of Hurricane Harvey. Plus, retail sales came back, employment grew, and consumers seemed willing and able to spend. Should we expect growth to accelerate going forward, and what’s the potential effect of the debt ceiling? Stay tuned to find out. Follow Brad at blog.commonwealth.com/independent-market-observer.
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After a dip and recovery yesterday, the markets were down this morning. It is clear that the developing situation between the U.S. and North Korea is rattling financial markets. Should we be worried? If so, what should we do?
Brad McMillan, Commonwealth’s CIO, recaps another great month for the markets and economy. In July, U.S. and developed markets were up, due to the simple fact that companies are making more money. Earnings came in much better than expected, U.S. job growth was strong, and wage growth picked up. Plus, both consumer and business confidence are on the rise. Clearly, there is positive momentum going forward. But with slow spending growth and a pullback in business investment, are there clouds on the horizon? Stay tuned to find out. Follow Brad at blog.commonwealth.com/independent-market-observer.
It seems like just a couple of months ago that I was writing about record highs for the Dow. In fact, looking at the data, it was only a few months ago, on January 26, that I wrote about Dow 20K. Reviewing that post, it notes that I last discussed stock market records 58 days before that. Are we seeing a pattern here?