Down goes the Dow

Lemons,

I read everything I post, but unlike you I also look to see if what is written is based in fact. Mr. Ryan, like you, should dig a little deeper to see what is really going on in the economy and markets. It is a fact that S&P 500 corporate earnings have declined over the past eighteen months by 18.5%. The S&P 500 will open today below where it stood May 21. 2015 (2,134).

http://www.pymnts.com/news/risk-management/2016/chapter-11-retail-bankruptcy-debt-restructuring/

Igy

U.S. stock-index futures pointed to another day of losses on Wall Street, as investors moved cautiously ahead of a Federal Reserve meeting and the U.K.'s so-called Brexit vote due later this month. Futures for the Dow Jones Industrial Average lost 96 points, or 0.5%, to 17,785, while S&P 500 index futures dropped 13.20 points, or 0.6%, to 2,092. Nasdaq-100 index futures fell 32.75 points, or 0.7%, to 4,471.75.

On Thursday, the S&P 500 and the Dow snapped a three-day winning streak as oil prices pulled back from 10-month highs. Oil was also partly the culprit on Friday, as crude slipped back below $50. The slide in oil prices was triggered by a rising dollar, with investors looking ahead to next week's Fed meeting on interest rates.

Expectations of an interest-rate hike were dialed back after a lackluster U.S. jobs report and dovish comments from the central bank's Chairwoman Janet Yellen, but investors are still wary of a possible tightening later in the summer.

On top of that, traders were getting concerned about the U.K.'s referendum on June 23, which will decide whether the country stays in the European Union. Polls indicate it will likely be an extremely close call. "The economic impact of the EU vote is riding high in investors' mind as they try to assess how it will affect U.K., European and global market outlook over the coming months," said Dave Jeal, head of investment products at stockbroker Interactive Investor, in a note. "The direction of the next U.S. interest rate decision looks clear, but the uncertainty over its timing and continuing concerns over global market growth, added to the Brexit decision, make this a time for more cautious investors to take a back seat," he added.

Ghost of Igloi wrote:

Lemons,

I read everything I post, but unlike you I also look to see if what is written is based in fact. Mr. Ryan, like you, should dig a little deeper to see what is really going on in the economy and markets. It is a fact that S&P 500 corporate earnings have declined over the past eighteen months by 18.5%. The S&P 500 will open today below where it stood May 21. 2015 (2,134).

http://www.pymnts.com/news/risk-management/2016/chapter-11-retail-bankruptcy-debt-restructuring/

Igy

Do you seriously believe that Mike Ryan of UBS, the Chief Investment Strategist (CIS) for Wealth Management Americas and Regional Chief Investment Officer for Wealth Management U.S., knows less than you about the economy and markets? Does your narcissism know no bounds? Disagree with him all you want, but don't pretend that you know more than he does.

As for where the S&P opened today, that was higher than about 99% of its other openings.

MarketWatching

"The economic impact of the EU vote is the latest excuse given by institutional traders as they try to create another reason for renewed market advances," said Igy, in a note. "The direction of the next U.S. interest rate decision looks unclear, but the certainty over falling S&P 500 EARNINGS PER SHARE and slowing global economic growth, added to the Brexit decision, make this a time for individual investors to be skeptical of Wall Street speak," he added.

Igy

Lemons,

Mike Ryan's view is counter to some facts that I posted. Think what you wish, but as I pointed out in the links, consumer debt near record levels, auto loans at record levels, and bankruptcies in retail accelerating.

"As for where the S&P opened today, that was higher than about 99% of its other openings."

Your ending line would be more cause for concern than a reason to cheer.

Igy

His facts are spot on. Yours are selective (auto loans vs. all debt) to fit your pessimistic narrative. You are narrow minded and myopic. Ryan sees the big picture. There is much you can learn from him.

Only you would think the S&P being near a high is a bad thing.

Lemons,

OK. We will see who is narrow minded and myopic.

Igy

"We don't have the huge build-up of debt … within the consumer side that usually winds up in a pullback of consumer spending."

Restoration Hardware (RH) -70.4% past year

Mattress Firm (MFRM) -42% past year

Igy

Can you say "cherry picking"?

Ghost of Igloi wrote:

"We don't have the huge build-up of debt … within the consumer side that usually winds up in a pullback of consumer spending."

Agreed.

Overall household debt remains 4.4% below its 2008Q3 peak of $12.68 trillion.

Can you say Macy's, Aeropostale, JC Penny, Sears, Dillard's, REI, Dick's, Sports Authority, Nordstrom, Staples, Office Depot.....?

Ten dollars of debt is generating one dollar in GDP growth. Best wishes, retake course in fall semester.

Ghost of Igloi wrote:

Can you say Macy's, Aeropostale, JC Penny, Sears, Dillard's, REI, Dick's, Sports Authority, Nordstrom, Staples, Office Depot.....?

More cherry picking.

I'll let it slide. You saw the other posts were removed.

Igy

My God you're dumb. I'm on your side moron.

Ghost of Igloi wrote:

Ten dollars of debt is generating one dollar in GDP growth. Best wishes, retake course in fall semester.

Link?