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@theMarket: Sticky Inflation Slows Market Advance
By Bill Schmick,
05:21PM / Friday, March 15, 2024
February inflation data showed no progress on inflation. That follows the same kind of readings from the previous month. While two months does not make a trend, the disappointing numbers gave investors pause.   Both the Consumer Price Index (CPI) and its cousin, The Producer Price Index (PPI), came in warmer than economists had expected. Consumer prices rose 3.2 percent in February from a year earlier but were only slightly higher than economists' expectations of 3.1 percent. The PPI rose 1.6 percent year-over-year, which was the largest gain since last September. Month-over-month, the PPI at +0.6 percent was double the average forecast.   These data points

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@theMarket: Markets March to New Highs (Again)
By Bill Schmick,
02:15PM / Friday, March 08, 2024
At this point, a day without a new high seems almost abnormal. AI stocks rage higher, joined by weight loss companies like Lilly. The good news keeps rolling in with even Chairman Jerome Powell of the Federal Reserve Bank seemingly more dovish.    The Fed chairman testified before both the House and Senate this week. He indicated that we could expect a couple of interest rate cuts this year if the inflation data continues to weaken. He also said that if it does, the Fed won't wait until inflation hits its 2 percent target before loosening monetary policy.   The economy continues to grow, and while there is some evidence that labor growth is moderating

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@theMarket: Tech Takes Break as Other Sectors Play Catch-up
By Bill Schmick,
04:46PM / Friday, March 01, 2024
One of the main complaints of market watchers has been the narrow breadth of the stock market. Few areas, besides the handful of tech stocks, have participated in the bull market this year. That has changed.   Biotech, crypto, financials, industrials, and even the staid healthcare sector have come to life this week. The Russell 2000 small-cap index outperformed as well. In the meantime, the Mag 7 and AI 5 marked time.   As I warned readers last week, I thought stocks were due for a little consolidation as traders took profits on some of the large gains accrued over the last two months. The fact that large-cap tech sold off and the markets barely budged was

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The Retired Investor: The Economics of Taylor Swift
By Bill Schmick,
05:42PM / Thursday, February 29, 2024
At this point, few would question the economic impact that Taylor Swift has had on the world. The sheer level of spending the singer has triggered among consumers is breathtaking. The ripple effect of her business affairs has produced unexpected profits for many corporations and even countries worldwide. No wonder she is the only person from the world of entertainment to ever be on the cover of Time magazine.   In my day, Michael Jackson was the pop star who took the world by storm. The "gloved one" was the record breaker in the music and entertainment business every week. He made millions for himself and others. But Taylor Swift, the "anti-hero" singer

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@theMarket: Nvidia Leads Markets to Record Highs
By Bill Schmick,
02:38PM / Friday, February 23, 2024
Stocks forged ahead this week, making new highs with technology stocks continuing to take the lead. Financial flows into equity buoyed the overall market despite some disappointing results in the U.S. government's Treasury auctions.    Credit for the continued move higher must go to the number one AI stock in the world, Nvidia.   It was touch and go on Wednesday night as all eyes waited for Nvidia's earnings results. The Street was divided on which way the markets would go. It depended on whether this leading semiconductor company could beat estimates once again and deliver higher forward guidance on the world's demand for its artificial

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