Raymond Merriman's Weekly Preview

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U.S. markets will be closed Monday, September 4, in observance of Labor Day.

 

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The U.S. economy added 156,000 jobs in August. Economists polled by Reuters expected 180,000 jobs to have been added last month. In addition to missing estimates, previous months' job totals also were cut. June was revised down from 231,000 to 210,000 while July fell from the initially reported 209,000 to...

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On Sept. 3, 1929, the Dow Jones Industrial Average swelled to a record high of 381.17, reaching the end of an eight-year growth period during which its value ballooned by a factor of six. That was before the bubble began to burst in a series of “days”: Black Thursday, October 24, when the market dropped by 11 percent, followed four days later by Black Monday, when it fell another 13 percent;...

Posted by in Raymond Merriman's Weekly Preview on August 18, 2017 .

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I am in Cuba today, as one of three stops on a five-day cruise I am on, as part of a Strategic Planning week for the ISAR Board of Directors. ISAR stands for the International Society for Astrological Research, a non-profit organization with VP’s and astrological schools representing over 25 countries in the world who seek to upgrade the profession of astrology, and its value to societies everywhere,...

 

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“Long-term cycles in USA stocks are still in their bullish phase as we enter 2017. Therefore, we still expect new all-time highs. Our price target for an all-time high would be anywhere between 19,500-23,500 in 2017. There are a couple of time frames that could be extremely volatile (big reversals begin). These include February 22-April 21, May 19-June 16, July 17-August 25 …” Forecast...

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The U.S. economy added 209,000 net new jobs in July, beating expectations for 183,000 jobs. The unemployment rate ticked down slightly to 4.3% from 4.4%, while the labor force participation rate edged up to 62.9% from 62.8% during the month. Average hourly earnings meanwhile increased by 9 cents… over one million jobs have been created since President Trump took office, as tracked by the Bureau...

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The U.S. economy grew at an annualized rate of 2.6 percent, matching Reuters' estimate. Meanwhile, consumer sentiment for July topped expectations at 93.4. The data comes just days after the Federal Reserve hinted it could start reducing its massive $4.5 trillion balance sheet in September, provided the economy behaves as expected. – Fred Imbert, “Dow Post Record Close as Wall Street Shakes Off...

Posted by in Raymond Merriman's Weekly Preview on July 21, 2017 .

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This week’s report I written before the close of Friday’s markets, due to travel plans

 

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The dollar hit a nearly two-year low against the euro, after the European Central Bank signaled it could start discussing in the fall a plan to pare back its bond purchases. The dollar was also under pressure because of concerns the Russian investigation could slow down tax reform and other pro-growth...

Posted by in Raymond Merriman's Weekly Preview on July 14, 2017 .

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JPMorgan Chase CEO Jamie Dimon expressed frustration at the U.S. federal government during the company's earnings conference call Friday. “It's almost embarrassing being an American citizen ... and listening to the stupid s--- we have to deal with in this country," Dimon said in response to an analyst question. "Since the Great Recession, which is now 8 years old, we've been growing at 1.5 to 2...