S&P 500

Authored by Nicholas Colas via ConvergEx,

The stock market may not be a casino, but 21 is the game of the day.  That’s how many House votes the Republicans can afford to lose from their own party and still pass the American Health Care Act on Thursday.  The cause of today’s sell-off is simple: there seems to be more like 25 “Nay” votes coming from the right wing of the GOP.  For what it’s worth, our two best sources in DC both think the bill will pass on Thursday and today’s Beltway theatrics were just par for the course. 

 

"Warning! US equities can occasionally go down as well as up a lot."

Marko Kolanovic has done it again. 

Authored by Nicholas Colas via ConvergEx,

Authored by Wolf Richter via WolfStreet.com, 

$1.7 trillion blown on making EPS look less bad.

The S&P 500 index, closing today at 2,373, hovers near its all-time high. Total market capitalization of the 500 companies in the index exceeds $20 trillion, or 106% of US GDP. In the three-plus years since the end of January 2014, the index has soared 33%.