US trade deficit

March 7, 2017

Stocks opened lower but quickly recovered. The Dow and SPX are now flat and down .1%, respectively. Tech is the best-performing sector, up .4%, thanks to semiconductors. Most other major groups—gold miners, biotechs, retailers, transpors, banks, energy producers—are flat to down in early trading. The VIX Index is hovering around 11.3. The dollar is slightly stronger on the day and commodities are mostly lower. They deserve a breather after a pretty strong run. Copper and gold are up 4-6% so far this year; iron ore is up 19%; the iShares Global Agricultural Producers ETF (VEGI) is up 4%. WTI crude oil has been very stable above $52/barrel so far in 2017. 


*The foregoing content reflects the author's personal opinions which may not coincide with the opinions of the firm, and are subject to change at any time without notice. Content provided herein is for informational purposes only and should not be used or construed as investment advice or a recommendation regarding the purchase or sale of any security. There is no guarantee that these statements, opinions, or forecasts provided herein will prove to be correct. Past performance is not a guarantee of future results. Indices are not available for direct investment. Any investor who attempts to mimic the performance of an index would incur fees and expenses which would reduce returns. All investing involves risk. Asset allocation and diversification does not ensure a profit or protect against a loss. Finally, please understand that–as with other social media–if you leave a comment, it will be made public.

February 7, 2017

Stocks opened higher this morning (Dow +47 pts; SPX +.1%). And by the way, the Nasdaq just touched a new record high. Gains are fairly widespread: retailers, transports, semiconductors, biotechs, REITs. But again today, the energy sector isn’t participating in the rally. WTI crude oil is down 1.4% to trade around $52.20/barrel. The VIX Index is down around 11.2 suggesting very little fear among traders. The dollar has been rising for the last week or so and all else equal, that should put some downward pressure on commodity prices. Bonds aren’t doing much today. The most likely direction for yields over the long-term is upward, but when the Fed passed on a chance to raise rates last week, that had a settling effect on bonds across the curve. The 5- and 10-year Treasury yields are trading at 1.85% and 2.41%, respectively. 


*The foregoing content reflects the author's personal opinions which may not coincide with the opinions of the firm, and are subject to change at any time without notice. Content provided herein is for informational purposes only and should not be used or construed as investment advice or a recommendation regarding the purchase or sale of any security. There is no guarantee that these statements, opinions, or forecasts provided herein will prove to be correct. Past performance is not a guarantee of future results. Indices are not available for direct investment. Any investor who attempts to mimic the performance of an index would incur fees and expenses which would reduce returns. All investing involves risk. Asset allocation and diversification does not ensure a profit or protect against a loss. Finally, please understand that–as with other social media–if you leave a comment, it will be made public.

November 4, 2016

Stocks opened modestly higher this morning (Dow +25 pts; SPX +.25%). The healthcare sector is rebounding (+1%) on strength in biotechs. Banks, transports and telecoms are also in the green. The dollar is a bit weaker today and WTI crude oil is holding steady around $44.70/barrel. Bonds are rising in price this morning. The 5- and 10-year Treasury yields are back down to 1.24% and 1.78%, respectively.


*The foregoing content reflects the author's personal opinions which may not coincide with the opinions of the firm, and are subject to change at any time without notice. Content provided herein is for informational purposes only and should not be used or construed as investment advice or a recommendation regarding the purchase or sale of any security. There is no guarantee that these statements, opinions, or forecasts provided herein will prove to be correct. Past performance is not a guarantee of future results. Indices are not available for direct investment. Any investor who attempts to mimic the performance of an index would incur fees and expenses which would reduce returns. All investing involves risk. Asset allocation and diversification does not ensure a profit or protect against a loss. Finally, please understand that–as with other social media–if you leave a comment, it will be made public.