The inauguration fortunately went smoothly with the worst fears not being realized. The new President's speech was unusual, but terrific. Instead of the usual "motherhood and apple pie speech," without any sincerity, he gave substance, like it or not.
As we have stated many times, there is a good season and a bad season for the stock market. Since 1950 all the gains for the Dow have taken place between the end of October and the end of April. The other six months have actually lost Dow points.
Our recent analysis bases on a previous report of the potential for a further run in the US markets based on a number of technical and fundamental factors leads to the question of “what could happen with Gold and Silver”.
Two-Faced Markets. S&P 500 stocks broke through their tight trading range with a record high at mid-week, then settled back on mixed earnings and headline economic reports plus early fall-out from not-so-neighborly policy pronouncements on Mexican trade.
Personal income increased $50.2 billion (0.3 percent) in December according to estimates released today by the Bureau of Economic Analysis. Disposable personal income (DPI) increased $43.6 billion (0.3 percent) and personal consumption expenditures (PCE) increased $63.1 billion (0.5 percent).
Over the years we have written a number of columns that deal with agricultural trade. One of the most consistent pieces of information that we have tried to convey to our readers concerns grain exports, especially corn exports.
Today's Cattle on Feed report didn't confirm the bearish concern we noted in yesterday's AgLeaders Conference about third quarter supplies, it likely added to it. USDA's monthly survey of feedlots found that December placements, new calves and feeders entering feedlots to start their 3 to 7 month feeding visit, ran 17.6% over last year.
Real gross domestic product (GDP) increased at an annual rate of 1.9 percent in the fourth quarter of 2016, according to the "advance" estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 3.5 percent.
Balanced, respectable growth of about 2½% is the message coming from data at the turn of the year, sufficient for added declines in unemployment and multiple rate increases this year by the Federal Reserve.