Marvin R Clark Blog | Talkmarkets | Page 1
Managing Principal, Chief Economist and Investment Strategist

Marvin R. Clark is the Managing Principal of Monsoon Wealth Management (MWM). Monsoon offers affluent individuals and business owners’ wealth management, economic, and market advice throughout America.

Based in Scottsdale, Arizona, ... more

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Today Was The Big Solar Eclipse
Since August 7, the Dow Industrials have given back 397 points or 1.7%. The S&P 500 has slipped 0.08%, and the technology-weighted Nasdaq has led the way lower with a 2.6% move.
Let Them Eat Cake
Stocks drifted lower into the close, wrapping up a rough week. While the day’s losses were small, Friday marked the first time stocks haven’t risen the day after a more than 1 percent drop since Nov. 8.
No Moral Equivalency
The Federal Reserve released minutes of the July 25-26 FOMC meeting. Federal Reserve policymakers appeared increasingly wary about recent weak inflation and some called for halting interest rate hikes until it was clear the trend was transitory.
About Face
Several members of President Trump’s manufacturing jobs council resigned following what was widely considered an inadequate response from the president to violence in Charlottesville, Va. over the weekend that led to three deaths.
Dancing With The Devil
Stock were broadly higher, with the S&P 500 Index gaining the most since April. Volatility was in retreat, as the CBOE Volatility Index fell below 12.5 after topping 16 last Thursday.
A Long Week
Wall Street is betting nothing will happen, which is a smart bet in an otherwise insane news cycle. Fire and Fury. Locked and Loaded. Duck and cover. Dumb and Dumber… It’s been a long week.
Double Dog Dare
The S&P 500 declined 1.45 percent, the worst decline since May. The Nasdaq composite dropped 2.1 percent, with Apple, Alphabet, Amazon and Netflix all trading lower. It was a broad-based decline on Wall Street.
Getting Warmer
The S&P 500 Index fell to session lows and the CBOE Volatility Index jumped 11 percent about a half hour before the end of the trading session on Wall Street. The 10-year Treasury yield rose. Crude retreated toward $49 a barrel.
Number Nine
The Dow hit an early morning, intraday high, dipped into negative territory and then hit a fresh intraday high before drifting into the close. Good enough for the 9th record high close in a row.
July Jobs Report - We’re Not There Yet, But It Was A Good Jobs Report.
The economy added 209,000 new jobs in July. The unemployment rate dropped from 4.4% to 4.3%, that’s a 16-year low.
Seven Straight
Another record close for the down – the seventh consecutive record high close. Back in February we had a string of 12 record highs, which broke a record going back about 30 years. A drop in oil prices dragged on the energy sector.
22k Day
The Dow closed above 22,000 for the first time ever. Not a big surprise. After the closing bell last night, Apple reported a strong quarter for earnings, and the stock moved to a record high, which carried over to today’s trading.
State Of Emergency
Another record session for the Dow; that’s 5 in a row. It’s the 31st record high for the Dow in 2017. With two thirds of S&P 500 companies having reported their second-quarter earnings, 72 percent have beaten Wall Street’s expectations.
End Of An Era
The Dow industrials traded in record territory. Losses in the tech sector weighed on the broader market. Despite the dip on the day, the S&P is within 1 percentage point off its own record, while the Nasdaq is 1.5% from its own.
Life Comes At You Fast
Real gross domestic product increased at an annual rate of 2.6 percent in the second quarter of 2017; that’s up from a revised 1.2 percent rate in the first quarter, but short of expectations.
DeFAANG
The major stock indexes moved to all-time intraday highs, only the Dow held on for a record close. The Dow Jones transportation Average dropped to its lowest level in nearly two months, with UPS offering a weak outlook and FedEx falling in tandem.
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