Today at 4:15pm ET (1:15pm PT), bond king Jeff Gundlach will hold his monthly webcast titled appropriately "Drain the Swamp."
In his latest media statement, Gundlach - who predicted the Trump presidency and the resultant bond selloff - turned decidedly more bearish, telling Reuters on December 2 that "stocks have peaked," although the market clearly has disagreed for now.
Dow 20,000 teases everyone ahead of The Fed...
http://www.youtube.com/watch?v=FsqJFIJ5lLs
Trannies and Small Caps underperformed as The Dow pushed on once again to new record highs (Nasdaq best on the day)
Stocks were spooked in the last few minutes as The ECB denied Monte Paschi's capital plan...
While The Dow failed to make 20k today, we note it is up over 2000 points from the pre-Trump lows...
With Goldman accounting for over 20% of all those gains...
Submitted by Lance Roberts via RealInvestmentAdvice.com,
During my morning reading, I ran across an interesting article from Paul Lim via Time giving several reasons why the stock market will “rise for a ninth straight year.”
“For ordinary Americans, 2017 is likely to feel like the best year economically since the Great Recession.
One week after Fitch downgraded Italian banks to a negative outlook due to soaring bad debt, and risks resulting from the failed referendum, moments ago Moody's did the same, when it announced it was changing its outlook on the Italian banking sector to negative from stable due to increasing capital needs and weakening confidence.
As The Fed and quad-witch looms (and Dow 20k is within reach), the relationship between US equity and volatility complex appears to breaking down again...
Just as we saw last week, VIX and stocks are rising together...
But, here's a reminder what happened the last time The Fed hiked into Quad Witch...
The Dow was down 700 points from post-Yellen exuberance... Nasdaq broke 5,000; Dow nears 17,000; and S&P 2,000 was defended with valor...
Leaving everything Red for the week...