WOWS — Full Issue
An Alternative Way To View Or Print The Entire Current Issue As A Single Document
12/22/17 3:00 AMAttention Paid-Up Subscribers: To read or print the entire current issue as a single document, use the "easyprint" feature in the "Nav bar" to the right to open it, or any of WOWS' individual features, as an Adobe PDF file, and then print it. Alternatively, you can click "more" at the bottom of this paragraph and then click the red Adobe icon that appears. Your second click will download the full issue .pdf file of WOWS' latest issue to your computer, a process that -- depending on the file size and your connection speed -- might take more than the blink of an eye. Then, depending on preferences you've set on your device, it will either open automatically or show up in your downloads folder, waiting to be opened. [More]
This Old Bull Likely To Slow — Not Expire
Glad Economic Tidings For Investors in 2018, From Gail Dudack
‘Twas the week before Christmas and the President and his Congress just slipped a tax package into everyone’s stockings. While devilishly obscure and convoluted details undoubtedly will eventually emerge, and the package is not up to Reaganesque standards, the new tax cuts for corporations and the investor class, opines Gail Dudack, will filter beneficially through the entire economy in the coming year, lifting GDP and the stock market’s returns. But not immediately.
Gail, the doyen of Wall Street strategists, whose Dudack Research Group shingle these days hangs as a division of Wellington Shields & Co. LLC, is looking for a relatively flat first half to three quarters of the year, as companies and consumers both take time to believe what they’re seeing. [More]
The Champagne Is Sparkling
What Time Is It? None of the Clocks Have Hands...
12/22/17 8:00 AMBy Craig A Drill
We enter the New Year swept along in a synchronized global economic expansion with little fear priced in markets. The Organization for Economic Co-operation and Development forecasts world GDP growth of 3.7% in 2018, up from 3.6% in 2017, the fastest pace in seven years, with no major economy in recession.
Nearly all stock markets are up for the year, buoyed by a further revival of animal spirits. [More]
For Holiday Shopping Splurge, It’s Plastic All the Way
12/22/17 7:00 AMBy Dave Rosenberg
U.S. equity futures are in the green as the seasonal late-year melt-up continues and tax cut hopes morph into reality (the tax bill goes to the House floor for a vote today after a debate and then to the Senate where a vote is likely to be held tomorrow).
Next on the agenda is infrastructure spending and yet, not a worry in the world over the looming budget showdown — something that cannot be avoided without the help of the Democrats. [More]
The ECB Stands Pat
But (Still Low) Odds of Rate Hike By End of 2018 Are Rising
12/22/17 4:00 AMBy Dimitri Balatsos
‘Twas the week before Christmas, when all thro’ the ECB not a creature was stirring, not even a mouse. Today’s ECB’s meeting repeated a similar litany of reasons why standing pat was the central bank’s default policy option. Despite expressing confidence in the strengthening economic expansion – EU Composite PMI is at 82-month high (Chart 1) – Sig Mario Draghi emphasized why a stubbornly low inflation rate required maintaining ultra-accommodative policies. [More]
Acute Observations, week ending December 22, 2017
Perceptive Commentary from December 8-22, 2017
12/22/17 8:00 AMEmma Dunkley, Alice Woodhouse, and Adam Samson
The price of bitcoin tumbled 30 percent on Friday, with the rout accelerating early in the New York morning, after a week marked by high-profile security problems at two exchanges and warnings from global regulators about the risks cryptocurrencies pose. Bitcoin plummeted as low as $10,775.92, according to Bloomberg, leaving it more than 45 percent down from a record high touched at the start of the week. Its crash caps a volatile week for the controversial cryptocurrency that began the year at just $1,000, prompting some to question whether a bubble is bursting. [More]