Briefly put, the economic expansion continues, but at a disappointing rate. Early in the third quarter a resurgence of Covid-19 infections brought on by the delta variant fostered renewed restrictions, delayed openings, and reductions in consumer expenditures. In addition, some of the
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Briefly put, the economic expansion continues, but at a disappointing rate. Early in the third quarter a resurgence of Covid-19 infections brought on by the delta variant fostered renewed restrictions, delayed openings, and reductions in consumer expenditures. In addition, some of the
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The S&P 500 peaked at a record 4536.95 on September 2. But chaos in Washington and troubles in China have put a cap on stock prices, at least for the moment. The S&P 500 was barely positive for the quarter but is up
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Just over halfway through 2021, it is clear we are witnessing growth and change perhaps most comparable to 1946, just after the end of World War II. While the massive shifts back then were generally in one direction, from war-time production and
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Helping the markets, during the first quarter gross domestic product expanded a robust 6.4%. The pace of activity is well above pre-Covid levels, which is stunning considering that there are 5.4 million fewer full-time workers and 2.7 million fewer part-time workers now
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Helping the markets, during the first quarter gross domestic product expanded a robust 6.4%. The pace of activity is well above pre-Covid levels, which is stunning considering that there are 5.4 million fewer full-time workers and 2.7 million fewer part-time workers now
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First, the bad news: Gross Domestic Product fell by $2.15 trillion during the second quarter. The 34.3% annualized drop was the worst ever. The good news, or at least the driver for a more positive perspective, is that this contraction was on
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Stocks rallied back sharply during the second quarter, exceeding most expectations and mystifying some of the world’s most successful investors (including Stan Druckenmiller) who admit being left in the dust. But the market remains slightly lower for the year. We have navigated
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Not surprisingly, the first part of the year had two distinct phases. For instance, industrial production was flat at first – down half a percent in January and up half a percent in February. But in March it fell 4.5% and in
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As you know, the stock market has sometimes moved more in a day recently than in an entire year. The 30 percent drop beginning on February 19 was the fastest ever according to Bank of America, and the worst quarter for the
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