“Curiosity is, in great and generous minds, the first passion and the last.”
“Curiosity is, in great and generous minds, the first passion and the last.” Read More »
AI revolution
“Neither a state nor a bank ever [has] had the unrestricted power of issuing paper money without abusing that power.”
Stocks rallied smartly last week. The Dow was up 2.6%, The S&P 500 rallied 4.0%, and the Nasdaq jumped 6.0%.
Growth stocks outpaced value shares by a wide margin. The big-cap mega-scalers led the rally, and the poster child for the AI revolution was the clear winner as
Don’t get too excited, though; the broad market (S&P 500) remains within its range since April. The S&P 500 is marginally
(-0.50%) below, the Nasdaq is -5% below, and the Dow is -17.56% below all-time highs. Markets are skittish and fearful of change.
“Oh, what a tangled web we weave when first we practice to deceive.”
Market sentiment has taken a significant hit. The astonishing IT failure, regarded by many as the worst ever, has severely dented investor bullishness. It is especially concerning and even more shocking to investors than the political drama we are witnessing. The vulnerability we’re all feeling about our extreme reliance on technology might actually be even worse than originally believed because it’s unclear whether our technology systems can do anything to sufficiently remedy the situation and prevent future occurrences.
“Oh, what a tangled web we weave when first we practice to deceive.” Read More »
“Everything we hear is an opinion, not a fact. Everything we see is a perspective, not the truth.”
Economic data continues to surprise to the upside; the Citi surprise index was up again from last week (44.10 vs 39.0) and the January lows (0). It is above pre-pandemic levels, and the labor market is stronger, too. Unemployment is 3.7%, with claims falling and the number of available jobs rising.