Market News

Contrary to popular belief, Lorem Ipsum is not simply random text. It has roots in a piece of classical Latin literature from 45 BC, making it over 2000 years old. Richard McClintock, a Latin professor at Hampden-Sydney College in Virginia, looked up one of the more obscure Latin words, consectetur, from a Lorem Ipsum passage, and going through the cites of the word in classical literature, discovered the undoubtable source. Lorem Ipsum comes from sections 1.10.32 and 1.10.33 of “de Finibus Bonorum et Malorum” (The Extremes of Good and Evil) by Cicero, written in 45 BC. This book is a treatise on the theory of ethics, very popular during the Renaissance. The first line of Lorem Ipsum, “Lorem ipsum dolor sit amet..”, comes from a line in section 1.10.32.

Manufacturing Data Lifts Stock Prices

Major Moves One of my favorite economic reports is produced by the Institute of Supply Management, a manufacturing trade organization. Its monthly survey of purchasing managers called the Purchasing Managers’ Index (PMI) is useful because it summarizes current activity and expectations among purchasers for the future. The PMI report is important because it measures manufacturer sentiment […]

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How the S&P 500 Could Hit 3,000 7 Months Early

The S&P 500 Index (SPX) has rallied by 22.7% from its December low, closing at 2,879.39 on April 4, just 2.1% below its all-time high of 2,940.91 set in Sept. 2020. Marko Kolanovic, JPMorgan’s global head of macro quantitative and derivatives strategy, had forecasted that the widely-followed market barometer would reach the 3,000 plateau by the […]

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Investors Rejoice as Jobs Rebound

Major Moves After getting the shocking news last month that the U.S. economy had created only 33,000 new jobs in February, investors have been optimistically nervous all week as they have waited for the March Nonfarm Payrolls number from the Bureau of Labor Statistics (BLS). Investors were optimistic because they have seen multiple instances since the “Great Recession” […]

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