In this commentary I will explain why I’m cautious; how I could be wrong; what’s at stake for me and my clients; and how we’re invested.
President Barack Obama accused insurance companies of placing profits over people and said Republicans ignored long-festering problems when they held power as he sought to build support Monday for swift passage of legislation stalled in Congress.
In a recent trip to Washington, D.C., I talked with several high-level sources about this and other issues facing Washington and Wall Street, and I believe it is unlikely that the Volcker rule as initially proposed will make it into law.
The formerly obscure Fed board has, if not quite the visibility of the Supreme Court, the burden of being under greater scrutiny than at any time in nearly 30 years.
Stocks are up modestly in the U.S. and Europe on word that EU members were crafting a support program for Greece (Greece has rallied some 13 percent since bottoming on February 25), and that Dubai World is (finally) in discussions on restructuring $22 billion of debt. They could put the restructuring plan to creditors this week. They've been waiting...since November.
We’re not gonna get a barnburner recovery such as we saw in 1983-84 when Reagan slashed tax rates. Obviously not, since Obama’s Washington is moving in an anti-supply-side direction.
There’s a lot of loose talk on Wall Street right now about the risk of a double-dip recession. I’m not buying it.
S&P futures popped about 5 points as nonfarm payrolls came in slightly better than expected (loss of 36,000 jobs vs. loss of 68,000 expected). Greece is up for the fifth out of the last six days, despite protests in the streets. Premier Wen Jiabao of China pledged to crack down on property speculation. (Good luck on that.)
Retail sales: another positive on the corporate front...now we just need better macro news. Elsewhere, I have been asked repeatedly what's up with Goldman Sachs, up 3.3 percent on heavy volume..?
The message from President Obama’s health-care speech yesterday is game on — jam it through with virtually nothing for Republicans.
Greece will sell about 5 billion euros of 10 year bonds (at about a 6.3 percent yield) — it is well oversubscribed. They need to refinance up to 23 billion euros of maturing debt coming in the Apr/May time frame. 2. Retail sales for February have topped expectations. 3. Wal-Mart increased its dividend to $1.21 from $1.09 per year. Over 60 companies in the S&P 500 have increased their dividend since the start of the year. 4. A bankruptcy judge gave the management of General Growth Properties won a four month extension to keep control of the bankruptcy restructuring.
To paraphrase Winston Churchill, the US is the worst place to put your money – except for all the others.
Expectations very low for February, given the huge snowstorms in the Northeast. But analysts who actually bother to call around to the stores (there's still a few who do real research) are generally reporting that sales are a bit better than exepected.
Rush Limbaugh was pretty fired up about my interview earlier this week with Cato's Alan Reynolds.
Sen. Jim Bunning was right all along. He was just trying to get the Senate to enforce its own pay-go budget rule and actually find $10 billion of spending cuts out of a $3.5 trillion budget to pay for extended unemployment benefits and other items in a catch-all spending bill.
President Obama has high cholesterol. For now, his doctors are prescribing healthy living. But some say he should be put on a statin or cholesterol-lowering drug pronto.
President Obama’s new health-care push would apply the 2.9 percent health-care payroll tax to investments. We’ve never done this before. If we do, with the Bush tax cuts set to expire, the tax rate on capital gains and dividends could jack up over 50 percent.
It's Investor Day at the NYSE, stock up 1.8 percent, near a four month high. Richard Repetto from Sandler O'Neill, who is the best analyst in this space, told me that the stock was advancing on two pieces of information...
Greece is finally publishing a (somewhat) clear plan to reduce their deficit, half with tax hikes, half with spending cuts. Elsewhere: Mixed results from retailers, particularly the warehouse clubs.
President Barack Obama is urging Congress to finally push through his massive health care overhaul, freshening it with a handful of Republican ideas in a gesture of bipartisanship but strongly signaling Democrats will go it alone.