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@theMarket: Markets Await a Brexit Vote
By Bill Schmick,
10:56AM / Saturday, October 19, 2019
Great Britain's House of Parliament is voting on yet another proposal to exit the European Union this weekend. While Prime Minister Boris Johnson and the President of the European Union, Jean-Claude Juncker, have a tentative agreement, there is no guarantee parliament will vote for it.   In this world of binary events, financial markets are looking at the vote as a black or white outcome. Parliament votes yes and the British pound, world stock markets, and the European Union (EU) celebrates. If, as they have done in the past, the British politicians vote no, then gloom and doom will likely beset the markets.   My own opinion is that a no vote will simply

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@theMarket: Stocks Soar on 'Skinny' Deal
By Bill Schmick,
04:43PM / Friday, October 11, 2019
Global markets regained their footing this week, as expected good news on the trade front produced a "relief" rally in equities. Who cared that there was little substance to the deal? Investors decided that even a tiny deal was worth more than no deal at all.   As I wrote last week if "Trump believes he needs a 'win' to counter the slowing economy and the impeachment inquiry, then even a half-hearted deal might be in the cards. In which case, we could see a 10-15 percent move higher in the averages."   But before we pop the champagne, I want to see exactly what the trade deal agreement actually says. So far, we know that both sides

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@theMarket: An October to Remember
By Bill Schmick,
04:30PM / Friday, October 04, 2019
October is certainly living up to its reputation. This week, we witnessed a more than 1,000-point decline in the Dow Jones Industrial Average before recovering at the end of the week. Behind the volatility: worry over a slowing economy.   On Thursday morning (Oct. 3,2019), the Institute for Supply Management (ISM) announced that the non-manufacturing index hit a three-year low. This was on the heels of earlier negative news from the manufacturing sector. The Institute said that sector had experienced its worst contraction since 2009 with the index falling to 47.8 percent from 49.1 percent in September.   Economists and traders alike already knew that

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@theMarkets: Markets Muddle Through
By Bill Schmick,
04:17PM / Friday, September 27, 2019
As we close this quarter, investors are having a hard time deciding what the stock market’s next move will be. Since the future appears murky right now, equities are trapped in a tight trading range. Will we break out? And, if so, in which direction?   For the bulls, we are tantalizingly close to breaking out to all-time highs, but every time we do, something happens to spoil the parade. The bears, on the other hand, believe the markets are fraught with risk and should be sold. Both sides have a good case, but that decision is going to be made elsewhere, specifically, in Washington, D.C.   You would have to be marooned on a desert island not to know the

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@theMarket: Investors Discover Value Stocks
By Bill Schmick,
05:10PM / Friday, September 13, 2019
Value stocks, those equities that have fallen out of favor, have made a comeback this week. These underpriced orphans have become the new darlings of Wall Street, while high-flyers (think software and some tech) have sold off. What does this say about the markets?   The short answer is that we have more room to run. It means, in my opinion, that we will reach and break historical highs in the U.S. averages and that we should have fairly smooth sailing into October. If, at that point, there are breakthroughs in the trade issue and the Federal Reserve Bank cuts interest rates, we could see the markets continue climbing. If, on the other hand, Trump trashes Chinese exports

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