Like the tortoise beating the hare, the U.S. stock market has been slowly and steadily inching its way up over the past few weeks.
Since touching an intraday low on June 4, the Dow Jones Industrial Average, the NASDAQ, and the S&P 500 index have all rallied more than 10 percent, according to CNBC. In [...]
Continue Reading →Is the “cult of equity” dying?
Since 1912, stocks have returned on average 6.6 percent per year after inflation, according to Bill Gross, the legendary bond manager from PIMCO. Recently, Gross ruffled some feathers when he wrote that the historic 6.6 percent return “is an historical freak, a mutation likely never to be seen again [...]
Continue Reading →“Within our mandate, the ECB is willing to do whatever it takes to preserve the euro and, believe me, it will be enough.” –Mario Draghi, European Central Bank (ECB) President
It’s quite amazing how one sentence from one man can help spark a major rally in stocks, bonds, and the euro currency. Draghi’s comments last [...]
Continue Reading →The man with his finger on the pulse says the U.S. economy faces two main risks. We have no control over one of those risks and the other, well, we do have some control, but whether our politicians will appropriately exercise that control is a big question.
Federal Reserve Chairman Ben Bernanke faced Congress last [...]
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