"When will the stock market drop?" or, "How much does a market drop hurt me?" The historic close of the Dow Jones Industrial Index above 23,000 this week, one day before the historic 30-year anniversary of the largest one-day drop of 23% of the Dow Jones Average has...
Our hearts and prayers go out to the families and friends of those murdered and maimed in Nice, France last night during their celebration of Bastille Day.
Since BREXIT, US equity markets have come roaring back and then some. Increasing confidence that the Fed will pause their interest rate increases, a stronger-than-expected jobs report in the US on Friday, and the speedy transfer of power in Great Britain to Theresa May as Prime Minister have all added to the optimism driving stocks higher. The S&P 500 has had four record-high closes this week, yet other indexes have not, notably the Nasdaq, which remains almost 4% below last year's high. It means that most stocks, and significantly many that have driven our economy of late (technology) remain off their highs.
When I was a kid, we had a book in our house (well, we had LOTS of books, but this was one of them) entitled The Way Things Work, which was written and illustrated by David Macaulay. It's a magical book full of all kinds of crazy, hand-drawn pictures illustrating, well, the way things work. From augers to grand pianos to zoom lenses and just about everything in between.