Marvin R Clark | TalkMarkets | Page 5
Managing Principal, Chief Economist and Investment Strategist
Marvin R. Clark is the Managing Principal of Monsoon Wealth Management (MWM). Monsoon offers affluent individuals and business owners’ wealth management, economic, and market advice throughout America. Based in Scottsdale, Arizona, Monsoon’s ...more

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Focus On Earnings
Stocks pulled back from record highs earlier this week. For the week, the Dow fell 0.3% but the S&P 500 is up 0.5% and the Nasdaq added 1.2%. The Nasdaq is coming off a 10-day string of gains, matching its longest streak since Feb. 24, 2015.
Sparring
The Dow and the S&P fell slightly from record highs, while the Nasdaq and Russell 2000 squeaked out new record highs. It was close, but the MSCI Emerging Markets Index of stocks managed to eke out its ninth straight increase.
Quads
The Dow Industrials, S&P 500, Nasdaq Composite and Russell 2000 all closed at record highs on Wednesday. This is the first time all 4 indexes closed at a record high on the same day since March 1st.
Death By A Thousand Cuts
Obamacare might not implode but it could still die a death of a thousand cuts.
Not Happening
The delay on healthcare legislation is likely to spill over to tax reform. It would be difficult to address taxes without understanding the potential impact of healthcare.
Complacency Abounds
Washington is in gridlock and the White House faces scrutiny. Valuations are at the highest levels since the financial crisis. There’s been straight months of outflows from the biggest exchange-traded fund tracking the S&P 500.
Cookies In Bulk
Wall Street posted modest gains, but good enough for another record high on the Dow. The S&P 500 Index closed within five points of its record.
Quick Shock
The Dow Jones Industrial Average erased about 160 points in 20 minutes of trading today. The reason for the quick drop – an email chain from Donald Trump, Jr. that said the Russian government backed his father’s presidential campaign..
Three Big Events On The Calendar This Week
Three big events on the calendar this week, including: Janet Yellen’s semi-annual testimony before Congress, another attempt to pass a replacement to Obamacare, and Amazon Prime day.
The US Added 222,000 New Jobs In June
After three months of disappointing jobs reports, the June number easily topped expectations of around 175,000. The unemployment rate rose as more people entered the labor market.
G19
The G20 Summit is underway in Hamburg Germany. German chancellor Merkel, who is hosting the summit, wants to unite world leaders on environmental goals, but will be careful not to mention the words “climate change” around the US president.
Welcome Back
A holiday shortened trading week kicked off on Wednesday with FOMC minutes and will finish with a G20 meeting & the jobs report on Friday. Yesterday, the Fed released minutes of its Federal Open Market Committee meeting from June 13-14.
Halftime
Second-quarter corporate results are set to begin in earnest in the coming weeks, with S&P 500 companies expected to post an 8-percent rise in earnings.
Bounce Back
Well, isn’t this familiar. The markets have a down day only to bounce back. The S&P 500 posted its largest one-day gain in two months while Nasdaq Composite recorded its best day in eight months.
Delayed Not Dead
Does not mean that tax reform is dead, just slightly delayed. This means that GOP donors are going to turn up the heat on senators over the coming days pushing for health care and/or tax reform, and the donors will be pushing hard.
Bears Dominate On Tuesday
The tech-heavy Nasdaq (-1.6%) was hit the hardest as technology and biotechnology stocks weighed. Meanwhile, the S&P 500 and the Dow settled with losses of 0.8% and 0.5%, respectively.
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