The key economic releases this week are CPI, retail sales, and industrial production on Wednesday. In addition, there are several scheduled speaking engagements from Fed officials this week, including Chair Yellen’s semi-annual Monetary Policy Report to Congress on Tuesday and Wednesday (Humphrey-Hawkins).
Submitted by Michael Snyder via The Economic Collapse blog,
European and Asian stocks, S&P futures, bond yields, the dollar and commodity metals are rose, in some cases making new all time highs, lifted by the latest reemergence of the "Trump trades" as hopeful investors once again bet that the U.S. president's tax reform plans will boost economic growth and corporate profits, despite another warning from Goldman that the president's fiscal plan is about to be derailed.
For 50 years - until Greenspan's exuberance in the 90s - it took the average American around 26 hours to be able to afford to buy the S&P 500. In the Trumpian utopia in which we find ourselves now, however, the average American worker will have to work four times longer to join the 'wealth-builders' in equity market land.
The last time it cost this much (in terms of hours worked) to buy stocks, it seems the average American decided enough was enough and buyers went on strike asthe DotCom debacle collapsed.
h/t @jtepper2
“And some things that should not have been forgotten, were lost” - The Lord of the Rings