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.
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.
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-- 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.
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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Written by Sig Silber
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.
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.
by Richard Stavros
Investing Daily Article of the Week
It may seem counterintuitive that utilities could still profit in the Trump era by going green.
22Feb2017 Market Close: Wall Street Passes On New Highs Except For The DOW, Interest Rate Hike May C
22Feb2017 Pre-Market Commentary: Wall Street May Take A Break Today And Open Flat And Down, US Dolla
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.