@theMarket: Markets Midsummer Slide Wallops Technologyby Bill Schmick,
03:52PM / Friday, July 26, 2024 | |
July, as promised, has turned out to be a month where financial markets have been buffeted by fireworks on various fronts. A gambit of data from inflation to economic growth combined with a new American brand of populism has led to some unexpected market consequences.
The good news first. In the second quarter, gross domestic product grew well above economists' expectations at an annualized pace of 2.8 percent, compared to forecasts of 2 percent growth. The "core" Personal Consumption Expenditures Index (PCE), which excludes food and energy, grew by 2.9 percent in the second quarter. That was above estimates of 2.7 percent but significantly lower than the 3.7 0 Comments
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The Retired Investor: What Is Household Production and Why Is It Important?By Bill Schmick,
05:08PM / Thursday, July 25, 2024 | |
Have you ever wondered how much your time and effort were worth as a stay-at-home spouse? Chores like child care, laundry, home repairs, and meal preparations rarely come with a bill attached, but what if they did? You may be about to find out.
All the above chores plus many more, from driving the kids to school or soccer practice to treating illnesses among family members are critical to the functioning of the U.S. economy. However, none of that essential work is measured.
ScienceDirect defines household production as "the production of goods and services by the members of a household, for their consumption, using their capital and their unpaid 0 Comments
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@theMarket: Politics Take Center Stage in Equity MarketsBy Bill Schmick,
03:05PM / Friday, July 19, 2024 | |
As temperatures climb to record highs throughout the nation, the financial markets feel their brand of heat as election fever takes hold with a vengeance.
Suddenly, value stocks, which have taken a back seat to the FANG/AI equity gang for months, are coming back into vogue. Semiconductor stocks, which have led the tech market higher for years had their deepest sell-off since 2022. Even Nvidia is suffering a bout of profit-taking.
Some are calling it the 'Great Rotation' where traders are taking profits on the concentration trade consisting of a handful of large-cap mega stocks and diving into financials, industrials, materials, and even regional 0 Comments
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The Retired Investor: Tax-Deferred Savings Accounts Set for ChangesBy Bill Schmick,
04:16PM / Thursday, July 18, 2024 | |
Starting Sept. 23, there is good news for savers who want a fair shake when looking for investment advice. Let's hope that the new Department of Labor rules are here to stay.
If the DOLs are enacted, more professionals than ever before will be required to act as fiduciaries when clients pay them for investment advice on Individual Retirement Accounts IRA). This will add another level of protection to an instrument that for many represents a lifetime of retirement savings.
What, you might ask, is a fiduciary? It is someone responsible for managing money or property for someone, who must put that client's interests ahead of their own. Such a person (or 0 Comments
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@theMarket: Inflation Data Boosts MarketsBy Bill Schmick,
04:51PM / Friday, July 12, 2024 | |
The Consumer Price Index was cooler than expected in June, while the Producer Price Index was warmer. Equity traders responded by selling winners and buying losers.
CPI inflation fell further than most expected as easing prices for gasoline and other staples like food and new lease rents cooled dramatically. That information might help the level of anxiety people are feeling about inflation. It appears that the price points of most staples have finally flattened out year-over-year instead of constantly going up as they have for the last few years.
Countering that good news, wholesale prices climbed 0.2 percent last month led by prices for services, 0 Comments
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