During a week when the majority of the East Coast is still recovering from the devastating effects of Hurricane Irene, the market warmly received some good economic news for once. However, as has been the case previously, the headline numbers, upon further review and dissection, may not be as positive as initially reported and received.Read more
Our thoughts and well wishes go out to all of our clients on the East Coast that were affected by Hurricane Irene. As always, please know that we, at Hennion & Walsh, are here to help you with any of your financial needs or concerns.Read more
Investopedia defines stagflation as a condition of slow economic growth and relatively high unemployment - a time of stagnation - accompanied by a rise in prices, or inflation. Given the economic data reports that I have observed thus far in 2011 (not just over the past two weeks), I believe that it is fair to say that stagflation is knocking on the door.Read more
After markets closed for the week, credit rating agency Standard & Poor’s (S&P) announced on Friday, August 5, 2011, that it had cut the sovereign debt rating of the United States of America to AA+ from AAA. The ratings cut was the first downgrade of the U.S. AAA credit rating by S&P since S&P initially granted the AAA rating to the U.S. in 1941.Read more
While I believe that yesterday’s 512 point decline in the stock market (which marked the 9th largest single day point decline in history), as measured by the Dow Jones Industrial Average (DJIA), was extreme, I do believe that a form of a stock market correction, with respect to the now 29 month long bull market, was long overdue.Read more