Data Disconnect Retailers are ringing up solid earnings, but consumer confidence surveys tell a different story, suggesting the mood is far from upbeat. This disconnect raises a big question: if shoppers are still buying, as we will highlight in a moment, why do they...
Buyer’s Market—With Strings Attached Redfin reported last week that sellers are grappling with the strongest buyer’s market since the real estate brokerage firm began compiling records back in 2013. Sellers now outnumber buyers by 37%. More sellers than buyers give...
Investors Unfazed by Shutdown The government shutdown lasted from October 1 to November 12. It was the longest on record. During that period, the S&P 500 rose from 6,688.46 (September 30) to 6,850.92 (November 12), or an advance of 2.4%. As we’ve noted in prior...
The Job Market’s Missing Pulse The government shutdown has been and will always be prominently featured in the 24-hour news cycle. Travelers are feeling it, furloughed federal employees wonder when they will receive their next paycheck, and even the housing market is...
One Cut, Two Cut: The Fed’s Delicate Balancing Act The Federal Reserve delivered a widely expected 25-basis-point rate cut (bp, 1 bp = 0.01%), but Fed Chief Jay Powell tempered market enthusiasm by signaling that a December cut is far from certain. It was the second...
