Via RealInvestmentAdvice.com,
On Friday, I penned:
“The question that must be answered is just how much of the benefit from these fiscal proposals have already been priced in perfection? What happens if tax reform is less than anticipated? Or infrastructure spending is cut from $1 Trillion to $500 billion? Or repatriation only brings back a fraction of the dollars anticipated?
The relentless, steady, monotonous levitation to all time highs keeps chugging along: while last week saw the S&P experience its first 1% intraday move in nearly two months, there has yet to be a comparable move on the downside. As Deutsche Bank notes, pull backs of 3-5% in the S&P 500 are typical every 2 to 3 months historically. The last such pull back occurred just prior to the US presidential election.
Via Dana Lyons' Tumblr,
Stocks’ record streak without a weak close came to an end yesterday; what does it mean going forward?
Via Christof Gisiger of Finanz und Wirtschaft,
James Bianco, president of Bianco Research, thinks that the Federal Reserve will have to jack up interest rates and the US stock market is running into trouble.
It's Friday, which means Wall Street is patiently waiting for what has become a novelty tradition in close of week trading: a late day ramp, starting around 3:30pm and picking up speed into the close.