19 Mar 2004

Posted at 15:34h in The Friday Brief by
Offices and worksites are abuzz with NCAA college basketball talk as the tournament got off to a great start this week.  The event is characterized as “March Madness” or “March Mania” because of all the hoopla (no pun intended) and energy of 64 college and university fanatics converging on 14 American cities over the next three weeks.  Good luck if you have a pony in this race.

12 Mar 2004

Posted at 15:37h in The Friday Brief by
After a 36% rise of the Dow Jones Industrials, a 40% rise of the broader S&P 500 and a 55% rise of the NASDAQ, investors decided to take a breather.  The first stocks to succumb to selling pressure were last year’s market leaders; technology and biotechnology companies comprising the majority of the NASDAQ index.  It reached a peak on January 29th suffering three periods of 6% declines each since then.  The index is currently off just under 10% from its high.   The Dow reached a 52-week high on February 19 at 10,753, but has fallen 5.6% since then.  The S&P 500 was last to succumb, peaking on March 5th and falling 4.4% from that level. 

27 Feb 2004

Posted at 15:44h in The Friday Brief by
Tuesday’s Consumer Confidence numbers reported an unexpected erosion of confidence in the economy.  During February as the Democratic candidates marched through each state in their presidential quest their criticism of the economy grew louder and more focused.  As jobs or the inability of the current economy to create substantial job growth seems to resonate so well with some voters, politicians’ criticisms of the economy and the current administration have grown louder and, on occasion, outlandish.  Political experts suggest that negative campaigning is not only effective, but may be the only way to win modern elections.  But, there is a cost – the words are carried far and wide and more people than ever seem to accept them at face value.  

20 Feb 2004

Posted at 15:48h in The Friday Brief by
Remaining economic and market bears may soon be forced into hibernation.  Even the most obstinate of naysayers may have to acquiesce to the improving economic outlook.  As is the case every four years, the primaries have taken center stage in the media and most of what we hear is the obligatory bashing of the economy and the current administration’s economic policies.