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23Feb2017 Market Commentary: US Markets Gap Up At The Opening, Crude Prices Move Higher, Some Analysts Are Getting Cold Feet On The Market Relentless Climb To New Highs

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Written by Gary

Wall Street opened higher, gaping up to set, again, new historic highs (SPY +0.2%). WTI crude moved up into the high 54 handle while the US dollar slips moderately. 'Only 'blind faith' could cause me to be long this market,' says Doug Kass, in the headline of a blog post today.

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 more WWRT

What We Read Today 22 February 2017

Econintersect: Every day our editors collect the most interesting things they find from around the internet and present a summary 'reading list' which will include very brief summaries (and sometimes longer ones) of why each item has gotten our attention. Suggestions from readers for 'reading list' items are gratefully reviewed, although sometimes space limits the number included.

This feature is published every day late afternoon New York time. For early morning review of headlines see "The Early Bird" published every day in the early am at GEI News (membership not required for access to "The Early Bird".).

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Every day most of this column ("What We Read Today") is available only to GEI members.

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 more features, analysis, studies, and news published in the last week

Jihadism: An Eerily Familiar Threat

from STRATFOR

-- this post authored by Scott Stewart

As part of my day-to-day job, I read a lot of news reports, books and scholarly studies. Though the never-ending avalanche of information sometimes feels like a mild version of electronic waterboarding, it also allows me to pick out interesting parallels between different events.

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Infographic Of The Day: Guide To Tipping

Sometimes there is confusion about if or how much one should tip for good service.

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Video of the Day:

In the middle of rural Kansas, armed security patrol the entrance to a doomsday bunker that's reserved for the wealthy elite and sales are booming. Inside Edition headed deep below the surface of the Earth and into an underground bunker like no other. Larry Hall, the owner of the Survival Condo Project says, "Since the election of Donald Trump we have seen a whole new demographic of people calling in. People we didn't know they existed before."


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Current Weather Outlook

Written by

NOAA has a "much above average" level of confidence in their 6 - 10 Day Outlook and I do not believe that such a high level of confidence is justified. The pattern in the Eastern Pacific that controls teleconnections is in transition which to me means that there are too many moving parts to be maximally confident. Further out, there are AO/NAO uncertainties. The Northeast U.S. may be the area with the most uncertainty.

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 more investing, markets, precious metals & forex

Green Is Still A Go



 more opinion

Kenneth Arrow's Ignored Impossibility Theorem

from William K. Black, New Economic Perspectives

Kenneth Arrow, one of the giants of economics, has died at the age of 95. He became a Nobel Laureate in 1972. As a young lawyer in 1977, I saw him in action as an expert witness on the subject of risk. The context was setting the rates for shipping oil through the Trans-Alaska Pipeline System (TAPs). Arrow testified about the risks of oil prices falling. The FERC administrative law judge thought such a scenario was ridiculous. Within four years, oil prices fell sharply. Arrow's experience was a common one for economists dealing with lawyers - the ALJ ignored him.

kenneth.arrow

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 USA economy at a glance (boxed items are updates in last 7 days)

January 2017 CFNAI Super Index Moving Average Statistically Unchanged

Written by Steven Hansen

The economy's growth was statisically unchanged based on the Chicago Fed National Activity Index (CFNAI) 3 month moving (3MA) average - but remains marginally below the historical trend rate of growth (but well above levels associated with recessions). If one views the single month index to grasp what is going on - it declined.

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