01 Aug 2008

Posted at 15:19h in The Friday Brief by
Falling oil prices, an improving credit picture, and a few stronger-than-expected corporate earnings put a floor under equity markets that began a free-fall in June. The S&P 500 is down only 1% compared to a decline of 9% in June. The Nasdaq is up 1.5% for July following its 9% decline in June. Global equity markets demonstrated a similar pattern.

29 Jun 2007

Posted at 13:18h in The Friday Brief by
With one day remaining, it’s safe to say that the second quarter was a good one for equity investors. The S&P 500 is up just a smidge under 6% and the NASDAQ increased by 7.7%. Much of the increases in both indices came in April as mega-corporate buyouts and mergers out did the former on a daily basis. Corporate earnings were surprisingly good as they climbed 11.6% on average during the second quarter, more than three times analysts' estimates in March. And the economy showed signs of improving growth without significant inflation pressures.

02 Mar 2007

Posted at 16:42h in The Friday Brief by
We start our day without even thinking about it. We take for granted that the floor will support us when we step out of bed, that clean water will pour on demand from the lavatory spout to brush our teeth, and that hot water for our shower is just moments away. Confidence is defined in numerous ways and indeed changes in the circumstances. Webster defines it as “the state or feeling of trust in or reliance upon another” (person or thing, we could add).

21 Jul 2006

Posted at 16:14h in The Friday Brief by
“Economic moderation seems to be underway” which “should help to limit inflation pressures over time” said Fed Chairman Ben Bernanke in his prepared comments to the Senate Banking Committee on Wednesday.  He noted the importance of “forward-looking” and taking a “longer-term” view as rate increases take time to affect the economy.  It may be that Mr. Bernanke and his Fed may have raised rates as far as they are going to for the foreseeable future.