Capital Goods Orders Look Toppy
New orders for capital goods, excluding aircraft have a toppy look.
How Do Stocks Perform in a Presidential Election Year
The chart below shows the average performance of the S&P 500 (not including dividends) during all Presidential Election Years from 1948-2012 along with the...
Helicopter Money & Negative Rates Bullish for Gold
Negative interest rates and talk of helicopter money from the world's central banks has been bullish for gold.
Mortgage Applications Point Up
Mortgage applications for home purchases point toward continued recovery in the housing market.
GDP Growth in the Tank
The Atlanta Fed's GDPNow indicator, a forecast of GDP growth using the available economic data, shows that growth likely ground to a screeching halt in the first quarter....
Stocks and Oil in Lockstep
Stock prices and oil prices continue to move in lockstep.
No End in Sight for Industrial Recession
Industrial production contracted again last month. That makes 10 out of the last 12 months down. The industrial economy is now solidly in recession territory.
What’s Driving Equity Markets?
In case you needed more evidence that the Fed is playing an outsize role in equity markets, I present to you the following chart....
Is Housing in Another Bubble?
Housing prices relative to income are moving back toward bubble highs. In the case of new homes, the ratio exceeds its prior peak. Existing...
S&P 500 Now and Then
With S&P operating earnings up about 10% from their June 2007 levels and prices up more than 35%, investors are either A.) counting on a powerful...