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Inflation, Recession and Earnings Among Factors to Drive U.S. Stocks in 2023Dec 28, 2022 - 05:38:59 PST
The S&P 500 is down nearly 20% year-to-date with only a few trading days left in 2022, on pace for its biggest calendar-year drop since 2008. The carnage has been even more severe for the Nasdaq Composite, which had tumbled by nearly 34% so far for the year. High-profile casualties include the once-soaring shares of Amazon.com Inc...
The highest inflation in four decades is lashing consumers and pushing up prices for all of life’s necessities, not to mention the extras. Rising interest rates are pummeling the housing market, and war, extreme weather and extreme politics — not exactly the stuff of holiday spirit — are dimming the economic mood.
After the worst year for globals stocks in more than a decade, and a rout in bonds that’s unmatched this century, some investors aren’t prepared to take anything for granted in 2023.
Multiple stress points are emerging in credit markets after years of excess, from banks stuck with piles of buyout debt, a pension blow-up in the UK and real-estate troubles in China and South Korea.
IRS Likely Won’t Clear Its Tax Return Backlog Before 2023 Begins, Report FindsDec 28, 2022 - 05:27:04 PST
As of the week ending Oct. 28, 2022, 9.6 million tax returns were awaiting processing or other resolution.
Wall Street’s 2022 Stock Market Forecasts Were Way Off. Here’s What They See in 2023Dec 28, 2022 - 05:24:35 PST
Part of Wall Street strategists' job is to set targets for the S&P 500. And as equities limp toward the finish line for 2022, I wondered if anyone had seen the drop coming.
Global equities traded sideways on Wednesday after enthusiasm about China lifting COVID restrictions was tempered by rising infections and investors' gloomy outlook for Western economies.
The 13-week annualized non-seasonally adjusted money supply growth rate is crashing at a time when it typically moves up. The market is becoming increasingly more vulnerable to a major event in the weeks or months ahead. Let’s take a look at the data…
Since 2008, we have been in an era of unprecedented money printing and interest rate suppression. Now the cost of all of that easy money is coming due.
The Federal Reserve's favorite inflation indicator came in slightly higher than expected for November. This is another indication that while price inflation appears to be easing some, the data indicates it is far from whipped.
Gold prices jumped to their highest level in six months on Tuesday as optimism surrounding decisions by top consumer China to further ease COVID-19 restrictions weighed on the dollar, while benchmark U.S. yields limited gains.
Before we go any further, we read ZeroHedge's report on this letter Dec 7th entitled: Zoltan Pozsar: Gold To Soar...When Putin Unveils Petrogold (ZH Prem) and have been thinking on it since. Here is one of those thoughts pertaining to Gold's evolving market structure...
JC Parets, who founded and runs technical analysis firm AllStarCharts.com now sees the price of gold bullion heading towards $5,000 a troy ounce. Among other things, technical analysts use price charts to predict where asset prices may go next.
Throughout 2022 there's been a theme of protecting assets against geopolitical risk. Central banks have been buying gold at a record pace, while others have been repatriating their gold holdings to keep them safe from jurisdictional risk. A risk that took on new significance this year after seeing Russia get kicked out of the SWIFT system, while many of their assets were...
Looking ahead to 2023, inflation risk, recession risk, and interest rate risk could continue to weigh on financial assets. In that environment, precious metals have the potential to emerge as appealing safe-haven assets.
Dec 27, 2022 - 12:06:50 PST
The euro will collapse below parity with the dollar next year as the European Central Bank "kamikaze" rate rises backfire and a scramble for energy supplies pushes the bloc into a prolonged economic downturn, City economists have said.
Where did this thing called the Fed come from? Murray Rothbard has the answer here — in phenomenal detail that will make your head spin.
Contrary to the confident‐sounding claims of experts in the media, economists cannot accurately predict the macroeconomy. Economists have an awful record at forecasting inflation, interest rates, gross domestic product, and other macro variables. Below I excerpt from a Wall Street Journal column summarizing the failed record of forecasting 2022’s inflation, interest rates, and stock market.
Dec 27, 2022 - 11:48:36 PST
It shouldn’t surprise us if 2023 turns out to be atypical and disruptively transformational in ways few believe possible. It seems expectations about 2023 cleave neatly into two camps: the dominant mainstream view is that 2023 will be economically difficult due to a mild recession, but this will be nothing more than a run-of-the-mill recession. Inflation...
Dec 27, 2022 - 11:31:56 PST
The US housing market continued to sag in October as the impact of higher mortgage rates and concerns over the economy rattled buyers and sellers. Prices fell 0.5% from September, the fourth consec…