14 Nov 2003

Posted at 10:24h in The Friday Brief by
The market continues its sideways movement as the numbers from business and government continue adding to the case that the recovery is real and sustainable.  But everyone, from individual investors to institutional giants, from small businesses to mega-corporations, from the Federal Reserve to the Administration, remains cautious on the future of this economy.

31 Oct 2003

Posted at 10:53h in The Friday Brief by
The economy grew 7.2% from July through September.  That’s the fastest growth rate since 1984 and more than twice that of the second quarter.  For the first time in history, the economy exceeded $11 trillion, before adjustments for inflation, according to Bloomberg.  Consumers spent at the fastest pace in six years and businesses showed strong increases in fixed investments.  Numerous retailing managers have said their businesses improved noticeably after President Bush signed the tax-cut bill into law in July.  Non-retailers are also joining the recovery.  Profits of 375 members of the S&P 500 companies are up an average 22%. 

24 Oct 2003

Posted at 10:55h in The Friday Brief by
The Dow Jones index has given up about 1.7% so far this week, while the S&P 500 has declined a little over 1%.  The technology concentrated NASDAQ is down 2%.  The declines are most likely the result of investors’ disappointment with the earnings reports that have been pouring from Wall Street this week.