GEORGE CHAMBERLIN has been associated with The Daily Transcript at SDDT.com since 1998 and became Executive Editor in 2006. He is responsible for the development of editorial strategies for the newspaper and website. He has introduced video and audio into the editorial products and is the public face of the company at many community events. George regularly chairs industry roundtables and conducts video interviews of participants for use on the San Diego Source. He writes two daily columns, "Money in the Morning" and a daily stock market wrap-up.
George, a long time resident of North County, lives in Vista with his wife Terry.
We're still looking for an up day in December. Many permabears are suggesting the five-day slide in the Dow industrials is one of the signs of the Apocalypse, but it's hard to imagine how a decline of 1.7 percent during the last five trading days can be considered anything more than a pause in the buying that has lifted stock prices this year beyond the wildest expectations. It looks like the markets will aggressively snap the losing streak today.
Four in a row. It's a long way from a correction, but stocks have been drifting lower over the past four sessions, with the Dow industrials dropping a meager 1.3 percent during the decline. The main impetus behind the slide has been the misplaced -- and media-driven – belief that holiday sales are way below estimates as well as growing concern the Fed will begin tapering at the next meeting in two weeks. Again, chances that such an action to remove stimulus takes place are slim to none. As Ben Bernanke gets ready to pass the baton to Janet Yellen next month, it is unlikely the Fed would make a major change in policy as a new chairwoman prepares to assume control. Plus, the economic news, while improving, is a long way from being robust.
There has been a modest shift in momentum of Wall Street as stock prices have dropped for three sessions in a row. Granted, the losses have been minimal with the Dow industrials down a mere 1.1 percent during the decline. But it is enough for many of the permabears to say, "See, I told you so." The problem seems to be a growing fear that the Fed will make a major announcement at the open market committee meeting next week and at least indicate the end of easing is at hand, stimulus will be removed and interest rates will be heading higher.
The pause that refreshes. It sort of feels like the soaring run higher in stock prices through the first 11 months of 2013 could be taking a break, or maybe not. Stocks traded lower yesterday -- the Dow industrials dropped 77 points and fell for the second consecutive session -- and are off an additional 50 points in early trading today. We, of course, are a long way from a "correction," but many analysts are suggesting, even praying, that stocks give back some of the enormous gains so far this year, giving them a chance to participate in the next leg of the rally they have completely missed.
Shortly after last month's observance of Veterans Day, members of the Senate Commerce Committee met to discuss “Soldiers as Consumers: predatory and unfair business practices harming the military community.”
Stocks slid for the third consecutive day Tuesday as investors fretted about holiday sales and upcoming economic reports.
Twenty-three, 34, 27. No, it's not what you think. Rather, it is the percentage gains for the three major stock market indexes after the first 11 months of 2013, in the order of the Dow Industrials, Nasdaq Composite Index and Standard & Poor’s 500. In other words, it has been a great year so far and it seems unlikely conditions will change enough in December to erode most of those gains. Of course, anything can happen, but interest rates are likely to remain at historic lows, the economy probably will show slow growth at best, and the job market will still struggle thanks to confusion over health care reform. However, the markets have gone up for eight consecutive weeks and 11 of the past 13 weeks. As has been said for decades on Wall Street, investors would be well advised to not fight the tape.
Uncertainty about the strength of holiday shopping pulled stock prices lower Monday despite positive reports on manufacturing and construction.
Any motorists who travel on Interstate 15 are well aware of the massive apartment project under construction at Mira Mesa Boulevard. Along with other big projects in Mission Valley and elsewhere in the county, apartments represent the bulk of all residential construction activity.
A gain is a gain. And a record is a record. Yesterday, the Dow industrials closed higher by a whopping 0.26 point -- not a percent, but a quarter of a point. It obviously wasn't much, yet it was enough for the index to close at a new all-time high for the 43rd time this year. Trading was typically low heading into the holiday and compounded by the terrible storm moving along the East Coast. Today's trading will also be extremely light as folks everywhere head out of town for Thanksgiving.
The financial markets were quiet Tuesday as investors were limited by light trading of stocks and severe weather moving through the Northeast.
Forty-two. The number was made popular earlier this year with the release of a movie about historic baseball player Jackie Robinson, who wore 42 on his uniform with the Brooklyn Dodgers. Well, yesterday Wall Street celebrated a 42. The Dow industrials closed the session with a small gain -- 7.77 points -- enough to finish at a record-closing high for the 42nd time in 2013. The markets are entering the silly season of the year when light holiday trading can potentially swing stock prices in one way or the other. The situation right now is being compounded by the harsh weather along the eastern seaboard, giving a lot of traders an excuse to stay home ahead of Thanksgiving. One thing remains clear: There are few sellers to push stock prices lower.