Truth in Wealth Building

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Happy Memorial Day

Happy Memorial Day everyone. Markets are closed in observance of the holiday. Take a few minutes today and reflect on this great countries foundation and the women and men that fight and have fought to keep us free. Despite our challenges we live in the greatest country in the world. A fact that should not…

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A three day break

More trade ups and downs. President Trump ordered an investigation into whether auto and truck imports weaken the U.S. economy and threaten national security, which sparked a response from a Chinese official suggesting the move represented an abuse of trade rules. Though likely another part of the administration’s negotiation strategy, it may lead to new…

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Lots of meaty earnings

Is Turkey a canary in the coal mine? Turkey’s currency, the lira, has lost over 20% versus the dollar since the start of the year and dropped as much as 5% overnight on Tuesday, as market participants’ worries about the state of Turkey’s economy rose. (LPL) Uber announced its first-quarter financials, reporting strong sales growth….

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Yet another new all-time high

The 10-year Treasury yield again broached the 3% level last week, and unlike previous instances, it managed to stay above that level for the entire week, indicating Treasuries may have moved into a new range. (LPL) The Russell 2000 closed at yet another new all-time high this week. For the year, there have been 14…

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Oh that smell

Yesterday the S&P 500 gained 0.7% closing at 2,733 as industrials jumped 1.5%. The Nasdaq climbed 0.5% to 7,394. Over the last week, forward-four-quarter estimates for the S&P 500 Index rose 0.6%. With 464 S&P companies having reported, first quarter S&P 500 earnings are tracking to a 26.2% year-over-year increase, while 79% of companies have…

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More trouble on the stagecoach

More trouble on the stagecoach. Wells Fargo employees improperly altered customer documents trying to comply with a regulatory consent order over anti-money laundering controls. (Wall Street Journal) A slow walk to the gallows? J.C. Penney reported first quarter results. Revenue fell about 4.3% to $2.58 billion. Same-store sales rose 0.2% but were short of analysts’…

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