|Day's Range||2,567.56 - 2,575.44|
|52 Week Range||2,083.79 - 2,575.44|
Nothing is as it seems in Washington — it's a challenging environment for investors to understand.
Bitcoin continues ripping higher and it doesn’t look like it’ll slow down any time soon. Money experts Warren Buffett and Jamie Dimon have called the cryptocurrency a mirage and a fraud yet nearly half the respondents in a CNBC survey say Bitcoin is heading to $10,000. Yahoo Finance's Alexis Christoforous, Myles Udland, and Mark Martiak of Premier Wealth First Allied Securities debate if it's possible.
President Trump’s closest advisers are reportedly leading him to pick Stanford economist John Taylor or Federal Reserve Board Governor Jerome Powell as the next Fed chair. However just yesterday, Trump met with Chair Janet Yellen to talk about the position and many thought he would give Yellen another term. Yahoo Finance's Alexis Christoforous, Myles Udland, and Mark Martiak of Premier Wealth First Allied Securities figure out what the strengths and weaknesses of Powell and Taylor really are.
The “most hated bull market in history” is starting to get some love, which isn’t necessarily something to cheer.
A string of severe hurricanes that swept across the south and southeastern portions of the U.S. and Puerto Rico toward the end of the third quarter could put a big dent in economic growth.
Investors awaiting the nomination of the next Federal Reserve chair are hoping whoever is nominated pursues the same monetary policy that has supported rising stock prices for the past nine years. Led by Janet Yellen since 2014, the Fed is about to allow its $4.5 trillion portfolio of securities to shrink, and in late 2015 it began raising interest rates from the low levels seen after the 2008 financial crisis. A new Fed chair who argues for tightening monetary policy more aggressively is seen putting economic growth at risk, along with corporate earnings, and the long stock market rally.
S&P 500 The S&P 500 initially fell during the week but found enough support at the 2540 handle to turn things around and rally significantly. Friday was a very bullish session, as we had got word that there is the possibility of tax cuts being pushed out of Washington DC now, and it’s likely that we will … Continue reading Major US Indices, Forecast for The Week of October 23, 2017, Technical Analysis