“The Fed’s next move …” Did I really have to wake up to that phrase? I know, I know. The current moves in the market mean little, but this stupid obsession with the Fed and QE still bugs me.
- Trading volume has been low, as it tends to be in August, and with the earnings season winding down and economic indicators presenting a mixed view on growth, that complicates predictions about the Fed’s next move.
- Stocks fell on Thursday on continued uncertainty over the next policy move by the Federal Reserve and after Wal-Mart earnings disappointed, shining a light on weak consumer spending.
Okay, so at least the issue turned to consumer spending, even if it that is another canard, something for the breathless media to hang a hat on. Walmart has had its fair share of problems as a retailer for some time now and, as well, it only represents the low end of the spending public. Besides, how can folks get to Wal-Mart to spend money if they are all on vacation, as they should be in August.
- Over the last month, we adjusted the mindset to look out for more good (economic) news, but it hasn’t come.
Oh really? The last month has not had “more” good economic news? Maybe that is true on Mars, but here on Earth, quantity aside, the economic news from China, Japan, Europe, and the US has hardly been bad. Yeh, sure, it could be better, and it will be, but to characterize the positive economic-data output over the last month as not enough is, well, odd.
Whatever the reality of the news, it doesn’t seem to matter to the market. The workaholic bears just keep on plugging away, chipping away bits and prices of the market. Today, the DIJA touched into the negative 200 zone. My thinking is those bears need to go on vacation.
I don’t understand. It’s not as if I haven’t been telling everyone to take a break, go on vacation, get out and have some fun. So, people should listen – chill, relax, take five, go find a hammock and lie down.
- In a turbulent quarter, gold demand fell by 12% to 856 tonnes. A wave of outflows from ETFs was the principal cause of the decline.
- On Wednesday, the SPDR Gold Shares ETF added to its holdings for the second time in the last four days and, while the amounts are small, this is the first time this has happened since last December.
Is gold in or is gold out? First the ETFs see an outflow of demand and now they are seeing an inflow. Like I asked, “Is gold in or is gold out?” I am referring to favor here.
Time to go back on vacation, but let me leave this final thought with you – wouldn’t it be nice of the regulators of the markets actually did their jobs, which is to keep everyone honest?
- A U.S. regulator unveiled a controversial proposal on Tuesday that would require auditors to reveal more details about the publicly traded companies whose books they examine, a move intended to arm investors with more information. The Public Company Accounting Oversight Board said that its proposal, if ultimately adopted, would mark the most significant overhaul to the audit report since the 1940s.
If I weren’t on vacation, I would rant a bit more about the above, but suffice it to say that any action to make corporations more accountable and honest is welcome. Will the Public Company Accounting Oversight Board actually get something worthwhile done? When I get back from vacation, I will follow up to see if anything happened. For now, though, I hear the waves calling me.
Trade in the day; Invest in your life …
