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@theMarket: Earnings Season Cause Markets to Surge
By Bill Schmick,
04:48PM / Friday, April 12, 2019
After a week of low volume consolidation, all three averages broke higher on Friday. The bulls are still in charge and seem determined to push stocks back to their all-time highs.   A trigger could be this year's first quarter earnings season, which is upon us, some of the multi-center banks reported today. They did not disappoint, beating estimates handily and expectations are that most of the big banks will also beat earnings estimates. That won't be too difficult to do given that earnings estimates have been down-graded not once, but twice, over the last three months.   Overall, the Street is expecting companies that comprise the S&P 500 Index to

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@theMarket: Markets on a Tear
By Bill Schmick,
04:22PM / Friday, April 05, 2019
As fearful as investors were back in December, the greedier they have become in April. Investor sentiment is climbing, interest rates are falling, and the Fed is on hold. All we need to push the markets even higher is a trade deal with China. It's coming.   The S&P 500 Index has tacked on a hundred points in nine days. The all-time record highs for that index is at 1,940 less than 50 points away. That index has been up seven days in a row. The Dow up 6 out of 7. Last week's worry, the inverted yield curve, which occupied everyone's attention, is a barely remembered footnote in buyers rush to own stocks.   Of course, there are warning signs

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@theMarket: Does the Fed Know Something We Don't?
By Bill Schmick,
09:55AM / Saturday, March 23, 2019
Sometimes too much good news can be interpreted badly. Take the U.S. central bank's about face on monetary policy late last year. That was good news and investors responded by bidding the stock market up by 20 percent. But this week we may have received even better news, or did we?   The Fed did more than met investors' expectation this week at the central bank's monthly Federal Open Market Committee meeting. Chairman Jerome Powell indicated that there would be no more interest rate hikes for the remainder of the year (after saying back in December that two rate hikes were on the table for 2019). There was even some discussion that a rate cut might be possible,

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@theMarket: Pick Your Poison
By Bill Schmick,
04:32PM / Friday, March 08, 2019
Investors were greeted on Friday with two nasty surprises. Both occurred in February. Chinese exports dropped by 20.7 percent, while in the U.S., the nation added a dismal 20,000 jobs. As you might expect, the stock market did not take the news well.   What really spooked traders was how far apart these numbers were to expectations. Over here, we were expecting 180,000 jobs to be added to the payroll number. In China, where the economy had been expected to weaken, exports had been forecasted to decline by 6 percent, versus the prior year.   Before the ink had dried on the jobs data, the administration was already sending their point man on the economy, Larry

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@theMarket: Stocks on Hold
By Bill Schmick,
04:26PM / Friday, March 01, 2019
February delivered good gains for the markets. All the main averages were up, continuing January's climb toward the old highs. This week, momentum stalled a bit, indicating that investors need more good news to continue buying.   A China trade agreement (or lack thereof) still takes center stage. Despite the Washington, D.C., circus surrounding the testimony of Michael Cohen, the president's chief "fixer" for over a decade, traders largely ignored the hype.   At the same time (no accident in the scheduling), President Donald Trump hoped to take the spotlight off Cohen and back on him by meeting with Kim Jung-un in Hanoi for a second summit.

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