Business

At the start of 2017, the most optimistic strategist forecast the S&P 500 at 2,500 by year-end.

S&P Year-End forecasts as of 1/6/17...

In the last few weeks, the market has not only surpassed that most-exuberant guess...

As Bloomberg notes, despite two strategists upgrading their targets on Friday, professional prognosticators are hardly raging bulls: At 2,524, their average estimate represents a 1% decline in the benchmark gauge.

Authord by Ben Levisohn via Barrons,

In the rise of computer-driven trading, some hear echoes of the stock market’s 1987 crash. Beware the feedback loop...

Black Monday. Although the event to which those two words refer occurred 30 years ago, they still carry the weight of that day—Oct. 19, 1987—when the Dow Jones Industrial Average shed nearly a quarter of its value in wave after wave of selling.

Washington Is Destroying American Power

Paul Craig Roberts

Readers at home and around the world want to know what to make of the announcement that China henceforth will conduct oil purchases and sales in gold-backed Chinese currency.

Is this an attack by Russia and China on the US dollar? Will the dollar weaken and collapse from being discarded as the currency in which oil is transacted? These and other questions are on readers’ minds.

Below is my opinion:

In his latest weekend note, One River CIO Eric Peters discussed, among other topics, what he thought would be the nightmare scenario if not for the current, then certainly next Fed chairman: a world in which despite the Fed's best intentions (and we use the term loosely), the Fed continued to hike rates without any perceptible increase in wages and thus, long-term inflation expectations.

After some initial confusion, Netflix stock surged after hours, a repeat of what it did last quarter, soaring above its all time high price, up over 2% after reporting Q3 numbers which while beating slightly on revenues ($2.99Bn, Exp. $2.97Bn), and beating modestly on non-GAAP EPS (GAAP EPS$0.29, non-GAAP EPS $0.37, exp. $0.32), were far more remarkable for the subscriber numbers, which smashed expectations as follows: