WSP 0011 140731 Market drops 2%, Wage inflation, Rising rates, Incoming CEOs, Ebola pandemic, IFM energy tax

Episode 11:  Market review and related news

  • Markets in turmoil today…S&P500 drops 2%, it’s second worse day of the year and breaks through it’s 50 day moving average.
  •  Based on chart action, it looks like the indexes could keep moving lower for the next couple weeks…BUT who knows?  The Fed’s money pumping has kept this market RESILENT for 18 months, maybe that trend will continue and traders will come in and buy the dips.
  • Spanish bond yields are the lowest in 225 years…despite their large debt and poor economy.
  • Although there is a concern over inflation and specifically higher wagers (dragging down corporate profits) commodities prices are neutral to down- in spite of geopolitical conflicts… Oil down over 7% since last quarter; Gold down 3% past three weeks.   US Dollar moving up.
  • Markets are concerned the Fed might actually start raising interest rates.  If Yellen feels she’s spooked the markets, in a day or two, she’ll probably try to walk it back.
  • Changing of the guard at several companies- we discuss Target, WalMart, & Burger King.
  • Ebola as a possible pandemic.
  • IMF wants a global energy tax which could add as much as $1.60/gal to US gasoline.

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